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Problem - On December 31, 2019, Kier Corporation purchased 30,000 shares of Lord Company's shares at P100 each. On December 31, 2019, Lord Company's shares are selling at P125 per share. On February 1, 2020, Kier received 30,000 rights entitling it to purchase at P130 per share one additional share of Lord for each 10 shares then held. On that date, Lord's shares were selling ex-rights at P145 and the rights were selling at P5.00. If the securities were classified by Kier as Trading Securities at the time of acquisition and assuming the entire share rights were sold at their prevailing market price of P5.00, what amount of gain on sale of share rights should Kier Corporation recognize?
The assets transferred have a basis of $14 million. What is the gain recognized on this reorganization
Peter inherited a mountain cottage from her grandmother. The cottage was worth $66K at the time & had a basis to the grandmother
The actual selling price was £1 less than the budgeted selling price. Budgeted unit contribution margin per unit. £6. Calculate the budgeted sales price
Complete a common-sized income statement, a common-sized balance sheet, and a statement of cash flows for 2010. Interpret your results.
you work as an accountant for a small land development company that desperately needs additional financing to continue
The Director of Golf for the Links Group wishes to study the number of rounds of golf played by members on week days. He gathered the following sample information for 520 rounds.
Suppose a stock had an initial price of $73 per share, paid a dividend of $1.20 per share during the year, Compute the percentage total return
What section of the balance sheet would report this item?
The historical cost was five years. It was sold for $4,000 cash. Using this information, how much should be recorded on December 31 for Gain or Loss
A manual insertion process takes 30 minutes and eight pounds of material to produce a product. Automating the insertion process requires 15 minutes of machine time and 7.5 pounds of material.
How much of the proceeds would be allocated to the ordinary shares? 10,000 shares of its $5 par value ordinary shares having a fair value of $25 per share
They spent $15,000 in connection with the adoption, all of which was paid by the employer in accordance with the adoption plan. How much of the employer paid adoption costs must be included in their income?
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