Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Question - The accountant for HHH Ltd, Ms Stephanie, has sought your advice on an accounting issue that has been puzzling her. When preparing the acquisition analysis relating to HHH Ltd's acquisition of Orton Ltd, she calculated that there was an excess on acquisition of $10,000. Being unsure of how to account for this, she was informed by accounting acquaintances that this should be recognized as income. However, she reasoned that this would have an effect on the consolidated profit in the first year after acquisition date. For example, if Orton Ltd reported a profit of $50,000, then consolidated profits would be $60,000. She is unsure of whether this profit is all post- acquisition profit or a mixture of pre-acquisition profit and post-acquisition profit.
Required - How should the excess be accounted for? What is the effect of its recognition on subsequent consolidated financial statements?
What is effect of increasing the estimate of bad debts from 10% to 15% of accounts receivable? Does Mary Beth's proposal present an ethical dilemma?
Lakers issued 1,500 of these shares at P 100 per share. What accounts and amounts should Lakers credit in 2018 to record the issuance of the 1,500 shares?
Sutherland Corporation sold goods to Rice Decorators for $75,000 on September 1, 2017, accepting Rice’s $75,000, 6-month, 6% note. Prepare Sutherland’s September 1 entry, December 31, annual adjusting entry, and March 1 entry for the collection of th..
Find the yield to maturity (YTM) for a 10-year, 5% annual coupon rate, $1,000 par value bond if the bond sells for $918 currently?
The Mixing Department manager of Malone Company is able to control all overhead costs except rent, property taxes, and salaries. Budgeted monthly overhead costs for the Mixing Department, in alphabetical order, are: Prepare a responsibility report fo..
Make the general journal entries to record the services/reconditioning for the year, and to establish the Provision for Warranty at 30 June 2019.
Br 80,000, Liabilities with priority Br. 42,000, and Unsecured creditors Br. 200,000. In liquidation, how much money would be paid on the partially secured debt
Long and Short, CPAs, were auditing Island Corporation for the year ended December 31, 2014. On January 11, 2015, a major customer of Island Corporation declared bankruptcy as the result of an uninsured loss due to a major fire in their warehouse on ..
ABC company issued $10,000,000, 7.8%, 20-year bonds to yield 8% on January 1, 20X4. What is the carrying value of the bonds on the December 31, 20X4?
For Lincoln-Priest, Inc, Prepare the stockholdersequity section of the Lincoln-Priest balance sheet at december 31, 2012. Journalize each transaction.
Which is NOT an intangible asset? Which Employers should record payroll deductions from employee gross pay as? Employee receivables
What does the Critical Design Review (CDR) establish to ensure that the system under review has a reasonable expectation of satisfying the requirements
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd