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Question - Britain Corporation acquires all of English, Inc. for $800,000 cash. On that date, English had net assets with fair value of $750,000 but a book value and a tax basis of $500,000. The tax rate is 35 percent. Prior to this date, neither Britain nor English has reported any deferred income tax assets or liabilities. What amount of goodwill should be recognized on the date of the acquisition?
The fair value of Shamrock's assets is estimated to be $770,000. Compute the amount of goodwill acquired by Flounder
On December 31, 2012, Wolfe-Bache Corporation failed to accrue office supplies expense of $1,950. What would be the effect of each error on the income statement
If net fixed assets increased by $26,100 during the year, what was the addition to net working capital (NWC)
1.On December 31, 2013, the end of the fiscal year, California Microtech Corporation completed the sale of its semiconductor business for $10 million.
what are internal controls? why do companies need them? what are some examples of internal controls? who is responsible
a business is operating at 70 of capacity and is currently purchasing a part used in its manufacturing operations for
Prepare journal entries to record all of the transactions related to: 1. the preferred stock 2. the common stock.
For several years, a number of Food Lion, Inc. , grocery stores were unprofitable. Explain why Food Lion wrote down the current carrying value
James Company uses process costing to track its costs in two sequential production departments
what is the minimum price to be charged for the board from the Fabrication Division to the Electronic Assembly Division
Hazel, Nina and Rhea share profits in the ratio of 2:3:5. How much is to be debited from Hazel, assuming Rhea is paid P68,250 in full settlement of his interest
A firm operate at 90% of capacity for the past year, during which fixed costs were $320,000, variable costs were 60% of sales and sales were $1,000,000. What is operating profit was?
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