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Killroy Company owns a trade name that was purchased in an acquisition of McClellan Company. The trade name has a book value of $3,500,000, but according to GAAP, it is assessed for impairment on an annual basis. To perform this impairment test, Killroy must estimate the fair value of the trade name. It has developed the following cash flow estimates related to the trade name based on internal information.
Each cash flow estimate reflects Killroy's estimate of annual cash flows over the next 11 years. The trade name is assumed to have no residual value after the 11 years. Cash Flow Estimate Probability Assessment $382,500 20 % 650,400 50 % 765,600 30 % What is the estimated fair value of the trade name? Killroy determines that the appropriate discount rate for this estimation is 11%.
Heritage company receives a 4-year, $20,000 note receivable on July 1, 2010 that does not bear interest. Interest on similar notes is 10%. Assuming that the present value of the note is $14,000 on July 1, 2010, the amount of interest that will be ..
Green Lawn Chemical company sells lawn and garden chemicals through several hundred garden suppy stores and department store garden shops. Assume Green Lawn shipped goods costing Green Lawn $8400 and with a wholesale price (i.e. price to the retai..
Describe some of the information a good AIS could have provided for this firm and that, if provided in a timely manner, could have helped avoid some of its problems.
Since the income of the business is small, Sherry decides to capitalize the expenditures and to amortize them over 3 years for regular income tax purposes. The AMT adjustment for circulation expenditures for the first year of operations is:
on december 31 2012 tran co. performed environmental consulting services for hayden co. hayden was short of cash and
For the current year ending April 30, Hal Company expects fixed costs of $60,000, a unit variable cost of $70, and a unit selling price of $105.(a) Compute the anticipated break-even sales (units). (b) Compute the sales (units) required to realize..
on july 1 2011 atwater corporation issued 2000000 face value 10 10-year bonds at 2271813.this price resulted in an
Splitsville Company has two departments. Factory overhead costs are applied based on direct labor cost in Department A and machine hours in Department B.
kelly ive been thinking about our method of recording entries. it seems that its inefficient.marc in what way?kelly
Prepare the necessary journal entries on the books of Jayhawk Carpet Company to record the following transactions, assuming a perpetual inventory system (you may omit explanations):
Based on the information given above, what should be the net cash provided by operating activities in the statement of cash flows for the year ended December 31, 2011?
The resale value of the existing stock of the material is 5.45 per liter. New stocks of the material can be readily purchased for 6.20 per liter. What is the relevant cost of the 880 liters of the raw material when deciding how much to bid on the ..
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