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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?
Give a detailed explanation of how financing costs are treated in incremental cash flow in capital budgeting analysis and the rationale for this treatment
you are believer that new employees should practice their accounting skills before throwing them into the fire.
determined that there are no material differences between using the straight-line and effective interest methods of amortization
A company must select between two air scrubbers required by the EPA for the life of the facility. Scrubber A has an initial cost of dollar 150,000 also costs dollar 12,000 per year to operate, and has a salvage value of dollar 15,000. Scrubber B has ..
Question No: 1 Mr. A, B & C entered into a partnership. At the beginning of the year their capital balances were Rs. 180,000, Rs. 140,000 and Rs. 80,000 respectively. Profit or loss is to be divided as
Phoebe and Parker are equal members in Phoenix Investors, LLC. They are real estate investors who formed the LLC several years ago with equal cash contributions. Phoenix then purchased a parcel of land. At the contribution date, what is Reece’s basis..
Which section of the authoritative literature indicates what information should be reported in regard to profit or loss and assets for reportable segments?
Focus is more on wealth maximization of the shareholder, though profit maximization is considered as a part of the wealth maximization objective. Discuss.
Calculate the expected return on the investment. The current risk-free rate is 2% per year, and the expected market risk premium is 6% per year.
the trial balance of Darby Company contained the following amounts before adjustment.
A convertible bond has a par value of $1,000 and a conversion price of $25. What are the bond's conversion ratio and conversion value at t = 0
Prepare the two journals to record the allocation of profit as at 30th June 2014, using Method 2 and prepare the Retained Earnings account for John as at 30th June 2014.
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