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Problem 1: Legan, Inc., acquired 10 percent of Barta Corporation on January 1, 2017, for $186,000 and appropriately accounted for the investment using the fair-value method. On January 1, 2018, Legan purchased an additional 30 percent of Barta for $661,000 which resulted in significant influence over Barta. On that date, the fair value of Barta's common stock was $2,030,000 in total. Barta's January 1, 2018 book value equaled $1,880,000, although land was undervalued by $135,000. Any additional excess fair value over Barta's book value was attributable to a trademark with an 8-year remaining life. During 2018, Barta reported income of $345,000 and declared and paid dividends of $100,000. Prepare the 2018 journal entries for Legan related to its investment in Barta.
What is the percentage change in the price of each bond after the decline in interest rates? Round your answers to two decimal plac
Discuss the fundamental principles in the International Ethics Standards Board of Accountants' (IESBA) Code of Ethics for Professional Accountants.
What is the project's net present value? A company is considering the purchase of a copier that costs RM50,000. Assume the required rate of return is 10%
Calculate the number of canoes that Paddle Away must sell at $710 each to generate $116,000 profit - calculate its new break-even point in units and in sales dollars.
Calculate the company's disbursement float, collection float, and net float, if the collected funds were available in one day instead of two.
Find What is the ending balance of Allowance for Doubtful Accounts at December 31, 2018, after all entries and adjusting entries are posted?
November 19, 2020, she has just sold 600 shares for a total of $723,000 ($1,205 each). Calculate the capital gain and the taxable capital gain.
Prepare a retained earnings statement for the year ending December 31, 2008. Prepare a balance sheet as of December 31, 2008. Prepare a statement of cash flows for the year ending December 31, 2008.
After preparing a preliminary version of its financial statements, a company found that it made a mistake in computing bad debt expense on the books. The company needed to reduce Bad Debt Expense on its books by $100,000.
Create the journal entries necessary to account for the MJR investment, assuming that CMC has significant influence over the operating
Prepare a general journal entry to record depreciation on the machine for the five months in 2022. Use the straight-line depreciation method.
Prepare journal entries in the books of Moshman Ltd to record the lease in its first year (i.e. 1 July 2020 to 30 June 2021) in accordance
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