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Problem 1: Parent Ltd acquired Subsidiary Ltd 80% shareholders equity on 1 July 2016 for $250,000. At that date, Subsidiary Ltd had a share capital of $200,000 and Retained earnings of $300,000. What is the consolidation entry required for the year ending 30 June 2018?
Which of the following functions of audit documentation is incorrect?
Organizations utilize at least one inventory method (FIFO, LIFO, or weighted-average) to calculate their cost of goods sold and ending balance of inventory.
Prepare a formal Income Statement (Report of Income) and Balance Sheet (Report of Condition) for the bank using Excel. You do not need to break down assets
What are Benefits of using XBRL in financial reporting ?What are Limitations of using xbrl? Applicability of using xbrl in Bangladesh?
The normal selling price is $22 per unit. The company's capacity is 10,600 units per month. An order has been received from a potential customer overseas for 2,300 units at a price of $19.00 per unit. This order would not affect regular sales.
Compute the ending inventory under the perpetual system using FIFO and LIFO.
Accounting for bond related transaction through journal entries and Purpose the journal entries to record the conversion, amortization, and interest in connection with the bonds as of the following dates.
Prepare the pro-forma financial statement for your proposed business idea for the first year of the business - Depending on the previous information
The board of directors of the entity receiving the property should guess a value for the property that will serve as a basis for the transaction
Tom Wassink's irrigation shop uses 3,500 sprinkler heads during the course of a year, and this usage is relatively constant throughout the year. These sprinkler heads are purchased from a supplier 100 miles away for $9.50 each, and the lead time is 3..
Review the “Accounting Standard Updates”, “Proposed Accounting Standard Updates” or “Recently Issued”. Have there been any updates related to business combinations or consolidations? If so, what was the update, i.e. title? When was it issued?
Prepare the entry to record the issuance of the bonds
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