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!
Cairns owns 80 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, 2011, Hamilton sold $1,000,000 in 10-year bonds to the public at 110. The bonds had a cash interest rate of 8 percent payable every December 31. Cairns acquired 40 percent of these bonds at 92 percent of face value on January 1, 2013. Both companies utilize the straight-line method of amortization.
Prepare the consolidation worksheet entries to recognize the effects of the intra-entity bonds at each of the following dates. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Entry B
December 31, 2013
Entry*B
December 31, 2014
Entry *B
December 31, 2015
Start with the partial model in the file IFM9 Ch09 P10 Build a Model.xls from the ThomsonNOW Web site. Cumberland Industries' financial planners must forecast.
One of the primary differences between U.S. GAAP and international accounting standards is that the use of LIFO is permitted for U.S. companies. How does LIFO affect a company's financial results?
Prepare journal entries to record the preceding data, as well as the transfer of underapplied or overapplied overhead to Cost of Goods Sold
Greetings Online disposed of a van that cost $22000 with accumulated depreciation of $15000. The journal entry would be to:
Top management has decided the transfers between the two divisions should be at $19. Compute the effect of the transfer on the net income for the Battery Division, Automotive Division, and the total company
vintech company is planning to produce 2100 units of product in 2011. each unit requires 3 pounds of materials at 6 per
Discuss one of the major threats to patient safety in hospital, home, or community settings. Discuss the role of nursing in addressing the patient safety threat
a company issued 7 4-year bonds with a par value of 200000. the market rate when the bonds were issued was 7.5. the
At December 31, 2010, Roko Co. has two fixed price construction contracts in progress. Both contracts have monthly billings supported by certified surveys of work completed. The contracts are:
What is the purpose of the Sustainability Report from each entity's perspective, considering compliance with GRI Reporting is voluntary
The City of Sharpesburg received a gift of $950,000 from a local resident on June 1, 2012, and signed an agreement that the funds would be invested permanently.
(1) Record the exchange assuming Caleb paid $ 30,000 cash and the exchange has commercial substance.
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