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In a business combination in which the total fair value of the identifiable assets acquired over liabilities assumed is greater than the consideration paid, the excess fair value is:
Answer a) classified as an extraordinary gain.
b) allocated first to eliminate any previously recorded goodwill, and any remaining excess over the consideration paid is classified as an ordinary gain.
c) allocated first to reduce proportionately non-current assets then to non-monetary current assets, and any remaining excess over cost is classified as a deferred credit.
d) allocated first to reduce proportionately non-current, depreciable assets to zero, and any remaining excess over cost is classified as a deferred credit.
$10,000,000 face value, serial bonds repayable in 40 equal semi-annual installments of $500,000, which includes coupon payments and repayment of principal, for 20 years, priced on the market to yield 6% compounded semi-annually. Round your answer ..
Companies that use a process-cost accounting system would:
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At the date of transfer the land and equipment had fair values of $72,000 and $65,000, respectively. Gleason had been depreciating the equipment on a straight-line basis over ten years with no salvage value.
If the price per unit differs from the standard price per unit for direct materials, the variance is:
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