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Course: Advanced Financial Accounting
Q1. Explain the term Acquisition and investments in intercorporate Entities.
Q2. X Inc. acquired 100% of the outstanding common stock of Y Inc. for $250,000 cash and 20,000 shares of its own common stock ($5 par value), which was trading at $10 per share at the acquisition date. The estimated fair market values of assets, liabilities, and equity accounts of Y. Inc are as follows:
Require:
Q3. SALMAN Company acquires 60 percent of HAMAD Company’s common stock for $200,000 at the beginning of the year and gains significant influence over HAMAD. During the year, HAMAD has net income of $40,000 and pays dividends of $30,000.
Required: prepare the journal entries in books of SALMAN company under the Equity and Cost Method
Q4. From the Given information Calculate the Book Value and pass Basic Elimination entry :
Q5. How are direct combination costs, contingent consideration, and a bargain purchase reflected in recording an acquisition transaction?
Acquisition:
Acquisition can be defined as 'a company purchasing the voting rights in another company'. The purchasing company acquires the voting rights and control in other company depending on the percentage of stock it bought.
Investments in inter corporate entities:
Intercorporate investments can be defined as 'a parent company investing in a company where it's subsidiary holds shares'. In other words, a company purchasing the stock / shares of another company in which it already holds interest (stock).
Please, i need Unique answer, Use your own words (don't copy and paste). *Please, don't use...
Please, i need Unique answer, Use your own words (don't copy and paste). *Please, don't use handwriting. Course: Advanced Financial Accounting Q2. X Inc. acquired 100% of the outstanding common stock of Y Inc. for $250,000 cash and 20,000 shares of its own common stock ($5 par value), which was trading at $10 per share at the acquisition date. The estimated fair market values of assets, liabilities, and equity accounts of Y. Inc are as follows: Require: Calculate Acquisition cost of...
Please, i need Unique answer, Use your own words (don't copy and paste). *Please, don't use handwriting. Course: Advanced Financial Accounting Q2. X Inc. acquired 100% of the outstanding common stock of Y Inc. for $250,000 cash and 20,000 shares of its own common stock ($5 par value), which was trading at $10 per share at the acquisition date. The estimated fair market values of assets, liabilities, and equity accounts of Y. Inc are as follows: Require: Calculate Acquisition cost of...
Please, i need Unique answer, Use your own words (don't copy and paste). *Please, don't use handwriting. Q3. SALMAN Company acquires 60 percent of HAMAD Company’s common stock for $200,000 at the beginning of the year and gains significant influence over HAMAD. During the year, HAMAD has net income of $40,000 and pays dividends of $30,000. Required: prepare the journal entries in books of SALMAN company under the Equity and Cost Method Q5. How are direct combination costs, contingent consideration,...
From the Given information Calculate the Book Value and pass Basic Elimination entry : PQR Ltd owns 100% of STV Ltd. STV Ltd ’s net income for 20X4 is SAR 250,000 STV Ltd’s declares dividends of SAR 36,000 during 20X4. STV Ltd has 20,000 shares of $5 par stock outstanding that were originally issued at $15 per share. STV Ltd’s beginning balance in Retained Earnings for 20X4 is SAR 150,000
From the Given information Calculate the Book Value and pass Basic Elimination entry : PQR Ltd owns 100% of STV Ltd. STV Ltd ’s net income for 20X4 is SAR 250,000 STV Ltd’s declares dividends of SAR 36,000 during 20X4. STV Ltd has 20,000 shares of $5 par stock outstanding that were originally issued at $15 per share. STV Ltd’s beginning balance in Retained Earnings for 20X4 is SAR 150,000
Please, i need Unique answer, Use your own words (don't copy and paste). *Please, don't use handwriting. Course: Government and Non Profit Accounting Exercise 1 The Town of Hail had the following transactions. Placed a purchase order in the amount of SAR 14,000 for supplies. Placed a purchase order with a car dealer to replace the town’s only police car. The expected cost of the car is SAR 31,000. The police car was delivered to town officials with an...
X Inc. acquired 100% of the outstanding common stock of Y Inc. for $250,000 cash and 20,000 shares of its own common stock ($5 par value), which was trading at $10 per share at the acquisition date. The estimated fair market values of assets, liabilities, and equity accounts of Y. Inc are as follows: Accounts Receivable $100,000 Inventory 50,000 LT Marketable sec. 60,000 PP&E 140,000 Total Assets $350,000 Liabilities $200,000 Retained Earnings 50,000 Common Stock 100,000 Total...
I need new and unique answers, please. (Use your own words, don't copy and paste), Please Use your keyboard (Don't use handwriting) Thank you.. Q1- A. What is a bank reconciliation and why is it important for companies to do it periodically? B. Prepare a Bank Reconciliation Statement for XYZ company that has: Bank statement of $9,000. Cash account of $7,500. Additional information for the reconciliation: Deposit in transit. NSF Check. Outstanding check. Collections made by the bank. Required: provide...
Please, i need Unique answer, Use your own words (don't copy and paste). *Please, don't use handwriting. * i need References URL Link 1. Describe the similarities and differences between hepatitis B and hepatitis C. 2. What are the most common blood-borne infections that concern occupational health specialists?