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Question - 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. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Explain in detail with correct steps and formulas.
What is the average room rate for this hotel (in dollars and cents)? What are the total rooms available for sale at this hotel? What is the RevPAR for hotel?
Measured by the standard deviation of returns, by how much would PSMI's portfolio's historical risk been reduced if PSMI invested 70%
Free cash flow ,Assume a WACC of 10% for the firm and 9% for the Cleansers division. In this question estimate the market value of the firm.
Prepare the journal entry on Oscar's books to record the settlement of the debt. Prepare the journal entry on Wilde's books to record
Elaborate a flexible budget for The Little Theater based on the actual activity of the year. The Little Theater is a nonprofit organization devoted to staging
Critically discuss whether or not it is in the best interests of PreFab (Pty) Ltd to have a transfer pricing arrangement whereby the Rental division acquires prefabricated units from the Manufacturing division at the same price that units are sold..
Sales taxes should be recognized when the underlying event takes place. A state requires “large” merchants (i.e., those with sales over a specified dollar amount) to report andremit their sales taxes within 15 days of the end of each month. Prepare a..
Account receivable OMR 2,100 Accumulated depreciation- equipment OMR 3,700. Prepare the asset section of Majan Company's balance sheet
Rs 400,000, Rs 350,000 and Rs 300,000 over its life of 3 years. Calculate the NPV at 12% interest rate and internal rate of return of the project.
On November 21, 2013, a fire at Hodge Company’s warehouse caused severe damage to its entire inventory of Product Tex. Hodge estimates that all usable damaged goods can be sold for $18,000. The following information was available from the records of ..
Determine the net operating profit or loss for the business. Provide detailed assumptions to support each line item in your Proforma P&L Statement.
The following selected account balances were taken from Buckeye Company's general ledger at January 1, 2005 and December 31, 2005: January 1, 2005 December 31, 2005 Accounts receivable 50,000 71,000 Inventory 39,000 28,000. Calculate the amount of sa..
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