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Question: Company Y acquired Company Z on January 1, 2019. Company Z had the following items on its books: Cash $80,000; Accounts receivable $150,000; Prepaid expense $75,000; Building $800,000; Land $350,000; Liabilities $650,000; Common Stock $500,000; Retained earnings $305,000. The fair value of the asset items are: Cash $80,000; Accounts receivable $150,000; Prepaid expense $75,000; Building $1,400,000; Land $550,000.
Record the journal entry of this acquisition if Company Y offered Company Z
1) $1.8 million and
2) $1.4 million.
During March, 12,500 hours were actually worked. Use this information to determine the amount of overhead over or under applied
What effect, if any, will the cash dividend declaration on May 31 have on Kissells net income, retained earnings, and cash flows?
Assume you are elected chair of the rodeo committee for next year. What steps would you suggest the committee take to make the rodeo profitable?
Question - Accounting for CASH SURRENDER VALUE - Prepare journal entries to correct the accounts on December 31, 2015
Art's business can depreciate the bulldozer under a 5-year modified accelerated cost recovery system (MACRS depreciation schedule).
How could management use inventory to manipulate income? What is the difference between periodic and perpetual inventory systems? Which items and costs should be included in inventory?
Henry Newman will invest $10,390 today in a fund that earns 5% annual interest. How many years will it take for the fund to grow to $16,118
Bought a delivery truck and agreed to pay $59,000 at the end of three years. What is the cost of the truck that should be recorded at the time of purchase
Required: Construct a flexible budget performance report that would be useful in assessing how well costs were controlled in this department
the management of amacker corporation would like to investigate the possibility of basing its prede-termined overhead
During each year, CSL Computer Company needs to train 27 service representatives. It costs $12,000 to run a training program, regardless of the number of students being trained.
Accounting Information Systems
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