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A Manufacturing Company decided to purchase Subco. The balance sheet of Subco as of October 31, 2011 was:Subco CompanyBalance SheetOctober 31, 2011Assets EquitiesCash $ 200,000 Accounts payable $ 445,000Receivables 470,000 Common shares 700,000Inventory 280,000 Retained earnings 810,000Plant assets-net 1,005,000Total assets $1,955,000 Total equities $1,955,000An appraisal showed that the fair market value of inventory was $300,000 and that the fair market value of the plant assets was $1,250,000. The fair market value of the receivables is equal to book value. The agreed purchase price was $2,200,000 million paid in cash.Instructions1) Determine the amount of goodwill (if any) for the purchase. Show calculations.2) Prepare the journal entry to record the acquisition.
Each bond has twenty detachable warrants. The bonds and warrants were sold at 110. At the time the bond were issued each warrant had a market value to one percent of the face value of one bond.
You have been employed as an entry- level management accountant for a little under a year. You suspect that your immediate supervisor is involved in a significant fraud involving diverting of company assets to personal use.
What are some advantages and disadvantages of different types of direct and indirect foreign investments?
Assuming sales volume is expected to be the same in the upcoming year as it was in the past year, give three separate options the company could implement in order to achieve their target profit in the upcoming year.
Evaluate the various accounting treatments for stock compensation and how do they relate to the practice of accounting and its uses in business.
Conduct an analysis of recent article and provide their evaluation and outcome expectations in written paper of 1500-2500 words that discusses:
Three years ago a piece of machine was purchased for $10,000. Assuming an eight-year life and straight-line depreciation, financial statements for the third year will show:
During April, 1,000 drives were sold. Fixed costs for March were $2 per unit for a total of $1,000 for the month. How much is the contribution margin ratio?
A. Depreciation expense for the year 2006 using the straight-line depreciation method. B. Depreciation expense assuming that the equipment is operated for 15,000 hours in 2006 and 12,000 hours in 2007. C. Using the double-declining-balance depreciati..
How do companies balance the need to maintain control over their payroll systems with the costs to implement controls to mitigate risks?
During the current year, Hugo sells equipment for $150,000, which it placed in service in 2009. The equipment cost $175,000, and $55,000 of depreciation deductions was allowed. The results of the sale are
On January 1, 2010, Lauren Corporation issued $40,000, 9%, ten-year bonds payable at 108. Interest is payable each December 31.
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