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Question - B Ltd purchased an asset for $200 000 on 1 July 2015. This asset has a five year life and is depreciated straight line for both accounting and taxation purposes. B Ltd sold this asset to A Ltd on 1 Jul 2017 for $150 000. A Ltd owns 80% of the share capital of B Ltd. For the year ended 30 June 2019, B Ltd made an after tax profit of $500 000. The company tax rate is 30%.
Required - Prepare the consolidation journal entries for 2018 and 2019 to adjust for this asset sale, and calculate the NCI share of B Ltd as at 30 June 2019.
Frederick Company utilizes a JIT production system and there are no Raw Materials, Determine the FY 2016 breakeven point in units
A company's beginning inventory is $20,000, purchases for a period are $240,000, and ending inventory is $30,000. How much is cost of goods sold
Suppose that instead of ordering the amount Q specified by the EOQ formula, the order quantity 0.8Q is used. Show that the sum of the annual ordering cost and the annual holding cost increases by 2.5%.
Scenario: RYT (aka RotYourTeeth) Candy Company sells lollipops. ASSIGNMENT: DETERMINE whether RYT should discontinue a product line to increase profitability
selected data concerning operations of cascade manaufacturing company for the past fiscal year followraw materials
Beginning work in process inventory $123,000 Direct materials used 121,000, How much is Harlee Company's direct labor cost for the year
Prepare the General Journal entry to replenish the Petty Cash fund. Post any relevant amounts to the Cash and Petty Cash General Ledger accounts.
during its fiscal year a pension trust fund buys 1000 shares of stock for which it pays 33000. at year end the stock
On january 1 2004 a corporation issued 25000 shares of %10 $50 par cumulative preferred stock and 50000 shares of $30 par common stock. Cash dividends declared by the board were as follows.
on january 1 2014 jay company had 10000 shares of 1 par common stock outstanding and 4000 shares of 100 par value 7
Compute the equivalent units for the month for the first department. Determine the costs per equivalent unit for the month
Analyze Apple's most recent financial statements. Based on your analysis, predict whether Apple's financial health will likely improve or deteriorate over the next five (5) years. Provide a rationale for your response.
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