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Problem - 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.
Required - 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?
Each Colby Steak dinner sells for $22.00 each. What is the budgeted total variable cost
What classifications and amounts are shown in PepsiCo’s Note 4 to explain its total property, plant, and equipment (net) of $11,228 million?
In Question 2, prepare a comprehensive business memo addressing each decision and your recommendation. The memo should be properly formatted as a business memo.
Evaluate the following statements concerning variance analysis. Be sure to provide specific examples to justify your evaluations.
Describe why or why not a pure service industry (e.g. accounting or law firms) may or may not be able to implement this type of technique
you are given an annuity immediate paying 22 annually for twenty years. after the twenty years the payments decrease by
Problem: Distinguish between the following pairs of terms in not more than five lines for each pair. You can use examples to describe your answer.
soap company issued 200000 of 8 5-year bonds on january 1 20x6. the discount on issuance was 12000. bond interest is
A company enters into a futures contract with the intent of hedging an account payable of DM400,000 due on December 31. The contract requires that if the U.S. dollar value of DM400,000 is greater than $200,000 on December 31, the company will be r..
How are revenues and expenses reported on the income statement under (a) The cash basis of accounting and (b) The accrual basis of accounting?
PetJoy Wholesale Inc., a pet wholesale supplier, was organized on March 1, 2016. Prepare a schedule indicating cash collections from sales for March
on january 102012 badger co. purchased 30 of the outstanding stock of crest co. for 123000 . crest paid total dividend
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