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Question - Cairns owns 75 percent of the voting stock of Hamilton, Inc. The parent's interest was acquired several years ago on the date that the subsidiary was formed. Consequently, no goodwill or other allocation was recorded in connection with the acquisition. Cairns uses the equity method in its internal records to account for its investment in Hamilton.
On January 1, 2014, Hamilton sold $2,200,000 in 10-year bonds to the public at 105. The bonds had a cash interest rate of 8 percent payable every December 31. Cairns acquired 45 percent of these bonds at 96 percent of face value on January 1, 2016. Both companies utilize the straight-line method of amortization.
Required - Prepare the consolidation worksheet entries to recognize the effects of the intra-entity bonds at each of the following dates.
1. December 31, 2016
2. December 31, 2017
3. December 31, 2018
Compute the cost variance for Materials price variance, materials quantity variance, labor rate variance, labor efficiency variance
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During 2015, Thompson Company applied overhead using a job-order costing system at a rate of $15 per direct labor hour.
The ordinary shares are quoted at 125 per share, loan stock is trading at $85 per $100 nominal and preference shares. Calculate gearing ratio using market value
there are several ways a company can allocate overhead costs to products produced or services provided. two of these
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