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On January 1, 2011, Bangle Company purchased 30% of the voting common stock of Sleat Corp. for $1,000,000. Any excess of cost over book value was assigned to goodwill. During 2011, Sleat paid dividends of $24,000 and reported a net loss of $140,000. What is the balance in the investment account on December 31, 2011?
Calculating the project's net present value and evaluate each project's net present value
Is variable costing appropriate in a capital-intensive environment where robotic equipment performs most of the conversion of raw materials to a final product such as in a BMW plant?
Journalizing the admission of new partner under differ methods - Journalize the admission of New under each of the following independent assumptions. New invests $20,000 for a 30% ownership interest in CarmCo.
Incremental revenue and incremental income (loss) associated with accepting the special order.
Astaire Company uses the gross profit method to estimate inventory for monthly reporting purposes. Presented below is information for the month of May. Compute estimated inventory at May 31, assuming that the gross profit is 25% of cost.
What is the rationale for Alternative Minimum Tax? Why is it that many more people are subject to it now that were not intended to be subject to it before?
What was the total amount of manufacturing costs assigned to the 8,000 units in the ending work in process?
What are the main problems caused by worldwide accounting diversity for a multinational corporation?
Calculation of Material price and quantity variances - Evaluate diekow production's direct materials price and quantity variances for the year
MICHTEC's economists estimate the chances that the economy will be either expanding, normal, or in a recession next year at 0.3, 0.5, and 0.3 respectively. Compute expected annual sales. Compute standard deviation of annual sales.
Evaluate the directional impact accounting difference described above would have on the subsequent ratios calculated under IFS and US GAAP.
Woody's Cafe Real Estate tax of $1,110.85 was due on November 1, 2011. Due to financial problems Woody was unable to pay his cafe real estate tax bill until January 15, 2012. The penalty for late payment is 8 1/4% ordinary interest.
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