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Point 1: Lake Incorporated purchased all of the outstanding stock of Huron Company paying $963,000 cash. Lake assumed all of the liabilities of Huron. Book values and fair values of acquired assets and liabilities were:
Book Value Fair Value
Current assets (net) $ 130,400 $ 124,400
Property, plant, equip. (net) 604,000 762,000
Liabilities 151,900 177,000
Question 1: What the Lake would record goodwill of?
Copper Industries (a sole proprietorship) sold three § 1231 assets during 2014. Determine the amount and the character of the recognized gain or loss from the disposition of each asset. Assuming that Copper has $6,000 no recaptured net § 1231 losses..
Evaluate her itemized deduction as a result of the fire. Also determine Heather's AGI and heather owns a two-story building. The building is used 60 percent for business use and 40 percent for personal use. During 2011,
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Reliable Estimate on Obligation - an entity will normally able to make an estimate on the obligation that is sufficiently reliable to recognize a provision.
You are given the subsequent information for Lightning Power Co. Suppose the company's tax rate is 40 percent. evaluate the company's WACC
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How does Nike, Inc. address depreciation? How is it handled, and what happens if they have estimated useful life incorrectly? How do the notes in Nike, Inc.'s Form 10-K discuss impairments, and how do they handle these in their records?
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