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1.) Dodge, Incorporated acquires 15% of Gates Corporation on January 1, 2011, for $105,000 when the book value of Gates was $600,000. During 2011 Gates reported net income of $150,000 and paid dividends of $50,000. What is the income reported by Dodge for 2011 with regards to the Gates investment? 2.) On January 1, 2012, Dodge purchased an additional 25% of Gates for $200,000. Any excess cost over book value is attributable to goodwill with an indefinite life. The fair-value method was used during 2011 but Dodge has deemed it necessary to change to the equity method after the second purchase. During 2012 Gates reported net income of $200,000 and reported dividends of $75,000. What is the income reported by Dodge for 2012 with regard to the Gates investment?
Evaluate the 2012 cost of goods sold using the LIFO method and find what method would you recommend to owner to minimize income taxes in 2012, using inventory information for footballs as a guide?
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In tabular format, recreate the master budget and prepare the flexible budget and determine the sales-volume variance, sales price variance, and the total fixed cost variance.
Given that she will not actually receive any interest payments until the bond matures in 10 years, explain how much interest income will she report this year assuming semiannual compounding of interest?
Write a schedule computing the threshold for asset amounts
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Identify which cost item above is fixed and variable and why and determine the cost per unit of each? what would be the total annual cost and unit cost of fixed and variable costs?
Decision making as to process further or sale out - Should MSB and CBL be processed further or sold immediately after initial milling
Theory question based on revenue recognition - What factors does the standard discuss that may impair the ability to make a reasonable estimate of returns?
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