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Raphael Company paid $2,000,000 for the net assets of Paris Corporation and Paris was then dissolved. LO5 14. Which of the following methods would does FASB consider best in Statement 142 in the evaluation of goodwill impairment? Paris had no liabilities. The fair values of Paris" assets were $2,500,000. Paris"s only non-current assets were land and equipment with fair values of $160,000 and $640,000, respectively. At what value will the equipment be recorded by Raphael?
Plan assets at fair value 78,000 Net periodic pension cost 90,000 Employer"s contribution 70,000 What amount should Payne record as additional minimum pension liability at December 31?
Diane, the tool crib attendant, works eight hours a day, five days a week. Each order is for one small tool and each small tool takes Diane 2 minutes to retrieve from the bins. What is the average waiting time, in minutes?
What is the Accounting Equation? Does it always have to balance, if so why? Are there exceptions to this general rule? If so, what are they?
Compute 2008 cash-basis net income. Compute 2008 accrual-basis net income.
Assume that at the high point month of producing the most of production during a five month time period 50,000 units were produced at a cost of 550,000 and the low point month producingthe least of production during a five monthtime period 20,000 ..
A garden store prepares various grades of pine bark for mulch: nuggets, mini nuggets, and chips.The following table gives information regarding the different requirements.
How does a parent company account for a subsidiary organization in the years that follow the creation of a business combination?
On February 28,2011, Dow sold 60,000 common shares. In keeping with its long-term share repurchase plan, 2,000 shares were retired on July 1. Dow's net income for the year ended December 31,2011, was $2,100,000. The income tax rate is 40%.
find an example of an impairment of PP&E or a significant gain or loss (large enough to have an effect on the reported numbers) on the disposal of an asset by a publicly traded firm.
Funzy Cereal includes one coupon in its cereal and offers a toy car in exchange for $1.00 and coupons. The cars cost $1.50. 40% of the coupons were redeemed in the 1st month. 12 million boxes of cereal were sold and 2.4 million coupons redeemed. W..
The bonds without the warrants would normally sell at 95. On March 1, 2010, the fair market value of Ruiz's common stock was $40 per share and the fair market value of the warrants was $2.00. What amount should Ruiz record on March 1, 2010 as paid..
Prepare a bond discount amortization schedule which shows the amortization of discount for the first two interest payment dates. (Round to the nearest dollar.)
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