Reference no: EM131289349
1) An investor argues that a Bargain generated from an acquisition should be recognized in the same manner as goodwill. Using the Codification, how can you refute the statement? Support your response with a specific reference to the appropriate section of the Codification: Reference example: ASC 954-320-55
2) In some cases parent-entity financial statements may be needed, in addition to consolidated financial statements, to indicate adequately the position of bondholders and other creditors or preferred shareholders of the parent. Consolidating financial statements, in which one column is used for the parent and other columns for particular subsidiaries or groups of subsidiaries, often are an effective means of presenting the pertinent information. However, consolidated financial statements are the general-purpose financial statements of a parent having one or more subsidiaries; thus, parent-entity financial statements are not a valid substitute for consolidated financial statements.
In your own words, explain what this means read 810-10-45-11 about Consolidations
3) How do differences in culture, social values, political systems, technology and economic systems impact mergers/acquisitions in this global environmental?
Any assistance is greatly appreaciated.
Company will report how much? short-term liability
: ?Martin, Inc. is preparing its financial statements for December? 31, 2016. Martin has a? $2,000,000 short-term note that is due in? June, 2017. Due to an existing?long-term line of credit for? $1,500,.000, the company will report how much? short-ter..
|
Determine the total flexible budget variable overhead cost
: Strauss Company established a predetermined variable overhead cost rate at $10.30 per direct labor hour. The actual variable overhead cost rate was $9.30 per hour. The planned level of labor activity was 74,100 hours of labor. The company actually us..
|
Expense account was posted to an asset account
: If Accounts Payable has been debited, it is most likely that: A debit to an expense account was posted to an asset account. This would cause: If the balance of supplies at the start of the month was $700 and at the end of the month you had $250 on ha..
|
Cost of an asset less accumulated depreciation equals
: If the balance of supplies at the start of the month was $700 and at the end of the month you had $250 on hand, the adjustment for Supplies would be: The cost of an asset less accumulated depreciation equals:
|
Indicate adequately the position of bondholders
: An investor argues that a Bargain generated from an acquisition should be recognized in the same manner as goodwill. Using the Codification, how can you refute the statement? In some cases parent-entity financial statements may be needed, in addition..
|
What is total interest expense and interest payable
: Morrison Corporation borrowed? $45,000 from Commercial Bank on June 1 of the current year. The bank required? 9% interest. Interest will be paid every three months until the? 9-month note is paid. What is the total Interest Expense and the Interest P..
|
The trial balance
: The trial balance: The general journal entry to record the purchase of an asset on account would include: If Cash has been debited, it is possible that:
|
Construction paid six months insurance in advance
: On April 1, ABC Construction paid six months insurance in advance. The journal entry to record this transaction is: Which of the following statements is true regarding a proper journal entry? An $850 check written for supplies was journalized as $800..
|
Unrecorded bank service bank service charge
: On a bank reconciliation, the amount of an unrecorded bank service bank service charge should be:
|