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Question - Smith Inc. acquired all of the common stock that was outstanding of Williams Company on 1/1/15. As a result of this acquisition, there will be annual amortization in the amount of $30,000. Smith reported a retained earnings balance of $400,000, and Williams reported a retained earnings balance of $100,000 on the date of acquisition. In addition, Smith had net income for 2015 in the amount of $75,000 and net income for 2016 in the amount of $70,000. Smith also paid dividends in the amount of $20,000 both in 2015 and 2016. Williams had net income for 2015 in the amount of $25,000 and net income for 2016 in the amount of $30,000. In addition, Williams paid dividends in the amount of $5,000 both in 2015 and 2016.
Assume that Smith includes the Equity in Subsidiary income in their reported net income. If Smith uses the partial equity method for net income, what are the consolidated retained earnings on 12/31/16?
Cholati is a foreign corporation that produces fine chocolates for sale worldwide.Compute Cholati's branch profi ts tax, and determine its branch interest withholding tax obligations. Assume that Cholati does not reside in a treaty country.
the joyner corporation originally budgeted for 360000 of fixed overhead. production was budgeted to be 12000 units.
A company purchased 300 unrts for S30 each on January 31 Itpurchased 390 unrts for 839 each on February 28 It sold a total of 460 unrts for TAO each from March 1 Mrough December 31
determine which alternative could sustain the greater decline in sales before operating at a loss. Computerized SystemManual System.
Explain three business risks or threats that might threaten Whole Foods ability to accomplish their financial goals for the next 3 years.
citizens bank has several departments that occupy both floors of a two-story building. the departmental accounting
alicia wants to have 20000 in her granddaughteru2019s savings account at the end of 20 years. how much must she deposit
four the past four years three companies have dominated the soft drink industry holding a combined 85 percent of market
1. prepare an income statement for the company using variable costing.2. prepare an income statement for the company
On the problems you just completed for me, how did you come up with the cost price to the retailer of $7.11? I understand the profit margin is 40% so wouldn't that mean that 9.95*.60=5.97 would be the cost to retailer?
Required: What are the accounting effects of this impairment test for accounting period 20X6?
Indicate the affect of the misstatement on Gentry Supplies Company's balance sheet and income statement for the year ended December 31, 2009.
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