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1. Several years ago, Steinway acquired 100% of UMI for $84,227 cash. Prior to acquisition, UMI had inventories of $30,041, receivables of $41,734, property, plant and equipment of $17,510 and accounts payable of $18,622 on its books. Steinway estimated that all of the assets and liabilities were on UMI's books at fair value except for inventory which was worth $10,000 more than book value. Assuming purchase accounting treatment (not a merger of equals),
Question a: What would the journal entry have been if Steinway had only bought 80% of UMI and paid $67,382?
Identify weaknesses in the existing internal control over cash admission fees, which Mr. Teshale should identify, and recommend one improvement.
q. porter corporation owns all 26000 shares of the common stock of street inc. porter has 60000 shares of its own
Ahmad Company uses a flexible budget for manufacturing overhead based on machine hours. Variable manufacturing overhead costs per machine hour are as follows: Prepare a flexible budget report, assuming that the company used 3,000 machine hours during..
Which Items that are dissimilar in nature must be presented separately in financial statements unless? the directors approve aggregation of the items.
Ending cash balance per bank statement is $14,862, Monthly bank service charge is $25. What would be the cash balance for the bank on the bank reconciliation?
Assuming Lujan Brothers Farm fulfills all the terms of the note, prepare the necessary journal entries for Jeppo Farm Equipment Company for the entire term of the note.
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How much is the change in cash? Increase in Accounts receivable $235. Decrease in Accounts Payable: $200. Increase in Notes Payable: $261
How The EPS ratio is calculated by? price per common share / earnins per common share. / profit per share / number of shares outstanding
Bowie paid $65,000 cash for the lump sum purchase. What value should be allocated to the building? (Enter only whole dollar values.)
Determine the annual net cost of these checking accounts: Monthly fee $5, check-processing fee of 25 cents, average of 19 checks written per month. (5 points)
Explain about vargas family case study,identified and develop scaffolding questions to ask the client in your next session, one in their landscape of action
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