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Question - At the beginning of the year, ABC Corp. purchased 40% of the outstanding ordinary shares of an investee. It paid $2,500,000. The net assets of the investee were valued $6,000,000 but was only carried in the books at $5,000,000. The difference is attributable to an equipment that has 5 years remaining useful life. During the year, the investee reported $800,000 net income, paid $500,000 dividends and made upstream sale to ABC resulting to a gross profit of $50,000. ABC still have 30% of the inventory from the upstream sale. What should ABC report as investment income?
Marley company sells drip coffee makers used in business offices. Its beginning inventory of coffee makers was 400 units at $50 each. During the year, Marley made two purchaases of coffee makers. The first purchase was 500 units at $70 per unit; the ..
Calculate MACRS deprecation for 2015 tax return. Office furniture: Purchased for $4,950 on May 20, 2013. The equipment is being depreciated over seven-year MACRS 200% declining balance. Norman sold it on May 15, 2015, for $4,000.
Estimate the company's total variable cost per unit and its total fixed costs per year. (Remember that this is a manufacturing firm.)
With a selling price per unit of $60, a contribution margin of 40%, and fixed expenses of $60,000, the break-even in unit sales will be:
For purposes of the accrual method of accounting, the economic performance test is met when
Describe the three types of project risks and detail the situation in which each type is most relevant when making a capital budgeting decision.
Consider the following statements regarding traditional costing systems: Many traditional costing systems: The relationship between cost and activity is termed: Which of the following costs changes in direct proportion to a change in the activity lev..
What is meant by the "pure play" approach to estimating the required return on an investment? Determine the hurdle rate for the entire company.
the accumulated depreciation was $22,500. The liquidation value for the truck is $3,000 on July 1. Compute Parson s gain or loss on the sale of the truck.
Near the end of 2013, the management of Dimsdale Sports Co., a merchandising company, prepared the following estimated balance sheet for December 31, 2013. Prepare a master budget for each of the first three months of 2014; Monthly capital expenditur..
The Marchetti Soup Company entered into the following transactions during the month of June: (1) purchased inventory on account for $240,000 (assume Marchetti uses a perpetual inventory system); Prepare journal entries for each of the above transacti..
Which of the accompanying would be viewed as a utilization of assets? Which of coming up next isn't a money surge for the firm?
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