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Question - On January 1, 2018, Adora Inc. acquired 15% of Alvah Co.'s outstanding common stock for $62,400 and did not exercise significant influence. Alvah earned net income of $96,000 in 2018 and paid dividends of $36,000. The fair value of Adora's investment was $80,000 at December 31, 2018. On January 3, 2019, Adora bought an additional 10% of Alvah for $54,000. This second purchase gave Adora the ability to significantly influence the decision making of Alvah. During 2019, Alvah earned $120,000 and paid $48,000 in dividends. As of December 31, 2019, Alvah reported a net book value of $468,000. At the date of the second purchase, Adora concluded that Alvah Co.'s book values approximated fair values and attributed any excess cost to goodwill. On Adora's December 31, 2019 balance sheet, what balance was reported for the Investment in Alvah Co. account?
9 percent compensating balance. Gorman Jewels borrows $300,000 at a 7.0 percent stated APR. What is the effective interest rate on the loan?
Prepare the necessary journal entry for the conversion and retirement of the bonds.
The finance department of a large corporation has evaluated a possible capital project using the NPV method, the Payback Method, and the IRR method.
Describe three examples of control activities Whole Foods Market, Inc. could use to minimize these risks.
State law varies as to the reporting requirements for liquidating a corporation. Using your home region/state/city, research the liquidation reporting requirements at the state and federal level and post the requirements to the discussion board.
For purposes of evaluation performance, how much Order Fulfillment Department cost should be charged to the Commercial Division at the end of the year
Sales Mix and Break-Even Analysis - The sales mix for products L and M is 60% and 40%, respectively. Determine the breakeven point in units of L and M
Assuming, the entity irrevocably designated it at FVOCI, how much is the net gain/loss reported on the income statement on December 31, 2021
Your firm has been asked by the board of directors of the Local Museum to review the internal control over cash admission fees and suggest improvements.
Actual manufacturing overhead was $86,500, and jobs costing $225742 were completed during the year. What is the ending work in process inventory balance
The actual return on plan assets was $1 million although it was expected to be $6 million. On average, employees' remaining service life with the company is 18 years.
Compute the break-even point in dollars of ticket sales. Calculate the dollars of ticket sales needed to earn a target profit of $6,000.
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