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McLaughlin, Inc. acquires 70 percent of Ellis Corporation on September 1, 2010, and an additional 10 percent on November 1, 2011. Annual amortization of $8,400 attributed to the controlling interest relates to the first acquisition. Ellis reports the following figures for 2011:
Without regard for this investment, McLaughlin earns $480,000 in net income ($840,000 revenues less $360,000 expenses; incurred evenly through the year) during 2011.
Required: Prepare a schedule of consolidated net income and apportionment to non-controlling and controlling interests for 2011.
Determine the NPV of given investment
If the current interest rate is 5%, determine the present value of your winnings. Use the present value tables in Appendix A. Round to the nearest whole dollar.
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Burlin Company starts the year with $108,000 in assets and $21,600 in liabilities. Net income for the year is $27,000, and no dividends are paid. How much is owners' equity at the end of the year?
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During the year, P sold goods to S for $85,800 at a mark-up of 25% on cost. 30% of these goods are still on hand at the date of consolidation.
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A couple who file a joint return has $125,000 of AGI before considering a $40,000 loss from rental real estate activities in which they actively participate. Illustrate what amount of loss must they carryover to the next year if any?
Compute the overhead cost per unit for each product. Production is 700,000 units of Budget and 200,000 units of Deluxe. Round your answer to the nearest cent.
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