Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Question - Large Ltd owns 100% of the shares of Small Ltd. These shares were acquired on 1 July 2019 for $1 million when the shareholders' funds of Small Ltd were:
Share capital $500,000
Retained earnings $400,000
$900,000
All assets of Small Ltd were fairly stated at acquisition date, except for a land that had a fair value $50000 more than carrying value.
During the 2019/2020 financial year, Small Ltd sold inventory to Large Ltd at a sales price of $200,000. The inventory cost Small Ltd $120,000 to produce. At 30 June 2010 half of the stock was still on hand with Large Ltd. In addition, Small Ltd paid an interim dividend of $40,000 out of post-acquisition profits to Large Ltd during the 2009/2010 financial year. The tax rate is 30%.
Based on the above information, prepare the consolidation journal entries that Large Ltd will need to pass on 30 June 2020.
The straight-line method is used to amortize any bond discount. What is the total interest expense for the life of the bond
Mozart & Company paid cash dividends totaling $150,000 in 2013 and $75,000 in 2014. What is the amount of cash dividends payable to common stockholders in 2015?
Calculate the total expected taxes that would have been paid for these two fiscal years, with the 20% reduction in 6/12 - 5/13
Explain the concept of credit in accounting in your own words. Explain in your own words the difference between ledger and account
What amount would you like spent yearly to fund this grand party? How much money do you have to leave to your heirs 50 years from now
Compute the Federal income tax liability on BC's income for the current year under the following assumptions. Ignore the standard deduction
Rygel corporation declared a 50% stock dividend. What was the impact of the 50% stock dividend on the balance of the retained earnings account
Coronado Corporation began operations in 2017 and reported pretax financial income of $213,000 for the year. Coronado's tax depreciation exceeded its book depreciation by $43,000. Coronado's tax rate for 2017 and years thereafter is 30%. In its De..
Memo must include executory summary, fact, issue, discussion and analysis, conclusion
Journey Co. budgeted sales of 400,000 calculators at $40 per unit for the year. What would be the effect on operating profit if the special order were accepted
Which first stage when an auditor considers the use of an expert is? Determining the scope of the work to be carried out. / Assessing the expert's report
What amount should Munoz report as its current federal income tax liability on its December 31, 2011 balance sheet?
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd