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Question - Polly Company acquired 80% of the outstanding shares of Summer Company for 4,500,000 on January 2, 2019 and paid P50,000 for direct acquisition related costs. On this date, Summer Company's stockholders' equity was composed of: Share Capital - P2,000,000; Share Premium - P1,200,000 and Retained Earnings - P1,600,000. The excess of cost over book value was allocated as follows: 10% to undervalued inventory, 40% to over depreciated fixed assets which has a remaining life of 5 years and the remainder to goodwill. Summer reported net income of P200,000 and paid dividends of P150,000 in 2019. The impairment on goodwill for 2019 was reported to be P5,000. What the NCI in the consolidated balance sheet on December 31, 2019?
The supplier must be able to meet the following requirements:- Supply popcorn kernels that pop to a clean white color.- 2. Supply popcorn that produces fewer than 1% "old maids".
Determine the break-even contribution margin ratio for a company with a fixed overhead of $92,000, revenues of $450,000, and a required level of profit.
Question - Discuss the difference between the Governmental and Profit Business Audits
What is the fair market value of the machine received? On March 1, 2016, the GABRIEL Company sold machine for P 155,000. The machine costs P 100,000.
coleman a married taxpayer is going to establish a manufacturing business. he anticipates that the business will be
The payroll was divided
Cheng Company traded a used truck for a new truck. The used truck cost $81,570 and has accumulated depreciation of $73,413. The new truck is worth $100,603.
Texas Company invested $90,000 in a certificate of deposit on August 1, 2013. The certificate had a 6 percent annual rate of interest and a one year term to maturity.
The following expenditures were incurred by Obermeyer Company in purchasing land: cash price $70,000, accrued taxes $3,000, attorneys' fees $2,500, real estate broker's commission $2,000, and clearing and grading $3,500. What is the cost of the la..
What should Wells report as capitalized interest at December 31, 2015
from the friday night lights video analyze the various types of verbal and nonverbal communication to determine what
The beginning inventory for 2013 is 200,000 units. The budgeted inventory at the end of a month is 25 percent of units to be sold the following month. Purchase price per unit is $7 per unit.
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