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Question :
Amortization of Intangibles. On January 1 of the existing year, Palm Corporation purchases the total assets of Vicki's unincorporated business for $600,000. The tangible total assets have a $300,000 book value and a $400,000 FMV. The purchase agreement states that Vicki can't compete with Palm Corporation by starting a new business in the similar area for a period of five years. The stated consideration received by Vicki for the covenant not to compete is $50,000. Other intangible assets included in the purchase agreement are as given: Goodwill: $70,000 Patents (12-year remaining legal life): $30,000 Customer list: $50,000 a) how could Vicki's assets be recorded for tax purposes by Palm Corporation? b) What is the amortization amount for every intangible asset in the existing year?
Which plan results in the higher earnings per share? Which plan allows you to retain control of the company? Which plan creates more financial risk for the company? Which plan do you prefer? Why? Present your conclusion in a memo to First Bank Fin..
Examine the accounting requirements for the business combination and discuss challenges in preparing the financial statements for the consolidation of subsidiaries on the date of acquisition.
Evaluate the selling price per unit. Which of the following is not a difference between financial accounting and managerial accounting?
Be sure to include an evaluation of the Footnote disclosures regarding Lucent's inventories in your examination. Does explanation for the earnings shortfall provided by Lucent's managers make sense in light of your analysis?
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Calculate the NCI in Chye Ltd's operating profit after tax and Puay Ltd's share of consolidated profit after tax for the year to 30 June 20x4.
Explain how you plan to gather budget information. Do you plan on including other department heads in the budget process? Why or why not and Prepare a job description that includes the typical duties of a managerial accountant.
Determine Earnings Per Share based on the information and Determine the earnings per share of common stock for the 2007 fiscal year
What are mathematical model and computer simulation? What are stochastic model and deterministic model?
Determine the predetermined overhead rate under the current method, and determine the total unit product cost of each product for the current year.
Trycker elects the fair value option for its investment in Inkblot. Illustrate at what amount will Inkblot be reflected in Trycker's December 31, 2010 balance sheet?
Purpose all the journal entries for the above transactions for 1 st July 2010 to 30 June 2011.
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