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Question - Eleanor Ltd owns 100% of Naomi Ltd. On 1 July 2019, Eleanor Ltd sells surplus machinery to Naomi Ltd for $40 000. The machinery had cost Eleanor Ltd a total of $125 000 and was six years old at the time of sale with accumulated depreciation amounting to $75 000. The remaining useful life of the machinery was assessed at four years with no residual value. The company tax rate is 30%.
Required - Prepare the consolidation journal entries to account for the sale of the non-current asset for the year ending 30 June 2020. Round any calculations to the nearest whole dollar.
Farm just reported earnings per share of $6.40. The payout rate is 70% and the return on equity is 25%. The required return is 12.5%. A) Find the price of the stock. B) Will this firm have a positive or negative present value of the growth opportunit..
Which is most preferable if an investor can only select one pair of companies? It does not matter which two are selected-there is no preference order.
Are these ratios positive? Why or why not - Analysis of Financial Statements in terms of Ratios whether positive or negative
Capital Structure decisions - The cost of capital for a project depends primarily on the
A company produces a single product. Variable production costs are $13.7 per unit and variable selling and administrative expenses are $4.7 per unit. Fixed manufacturing overhead totals $53,000 and fixed selling and administration expenses total $57,..
Assume a 40% tax rate for all years. What amount should Dix report as its income tax liability at December 31, year 3?
Prepare the required journal entries on the books of Summit Electronics Company and Farley Hardware for the transactions in 2019.
A data set with the mean and median close to begin equal will have a shape that is roughly symmetrical. Outliers are numbers that fall in the middle of the data set within one standard deviation of the mean. Variation is one of the most important con..
For each finding above, indicate internal control principle that CSC violated. For each finding above, provide an appropriate recommendation for CSC to correct the weakness.
Wildhorse company signed a lease for an office building for a period of 14 years. Under the lease agreement, a security deposit of $8600 is made. the deposit will be returned at the expiration of the lease with interest compounded at 4% per year. Wha..
What is their child tax credit
Barclay Company, What is the interest expense at the end of the first 6 months for the bonds, if the bonds were issued at $345,639?
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