Homework Answers
OPTION b
i.e., MANAGING MEMBER 2 , 2a , 2b ,HOLDING COMPANY A
as these persons are the legal owners of property 2 and HOLDING COMPANY A is also the owner for both properties.
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Property 1 has three legal entity owners: Managing Member 1; Member la; and Member 1b. Property...
I need my work checked & a little help answering req 1B && 2B, im sure...
I need my work checked & a little help answering req 1B
&& 2B, im sure i did 1B wrong
On January 4, 2018, Runyan Bakery paid $358 million for 10 million shares of Lavery Labeling Company common stock. The investment represents a 30% interest in the net assets of Lavery and gave Runyan the ability to exercise significant influence over Lavery's operations. Runyan chose the fair value option to account for this investment. Runyan received dividends of $3.50 per...
At the beginning of the year, Lambert Motors issued the three notes described below. Interest is...
At the beginning of the year, Lambert Motors issued the three notes described below. Interest is paid at year-end. (FV of $1. PV of $1. FVA of $1. PVA of $1. FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) 1. The company issued a two-year, 10%, $800,000 note in exchange for a tract of land. The current market rate of interest is 10% 2. Lambert acquired some office equipment with a fair value of...
CASp 13 Exercise Chapter 1 Economics Flashcards Qui Chapter 13 Exercise Saved Hel Check my work mode: This shows...
CASp 13 Exercise Chapter 1 Economics Flashcards Qui Chapter 13 Exercise Saved Hel Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indic 4 Simon Company's year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained...
1) Although a proprietorship is not a separate legal entity, a partnership is True False 2)...
1) Although a proprietorship is not a separate legal entity, a partnership is True False 2) Purchasing supplies on credit increases assets while decreasing liabilities. True False 3)On October 15, Gallery Comp. received $12,500 as a down payment on a consuting contract. The amount was credited to Unearned Consulting Revenue By October 31, 10% of the contract was completed. Gallery Corp. needs to prepare an adjusting entry for $1.250. True False 4) Asset, liability and revenue accounts are not closed...
1/ As the assistant to the Chief Financial Oce for Volkswagen, you've been tasked with managing...
1/ As the assistant to the Chief Financial Oce for Volkswagen,
you've been tasked with managing their
international operations so as to facilitate the coordination of
their manufacturing networks. More speci-
cally, you've be presented with the following scenarios and
asked to present a 'transnational solution' with
cash currently on hand. As such, you are considering exchanging
Swiss Francs (CHF) for Japanese Yen
(JPY). At the bank you see the following.
CHF/USD 1.6933
USD/JPY: 115.44
_What is the JPY/CHF exchange...
tice Exercises EE9-1 p 369 PE9-1A Lease or sell Claxon Company owns a machine with a...
tice Exercises EE9-1 p 369 PE9-1A Lease or sell Claxon Company owns a machine with a cost of $305,000 and of $65,000 that can be sold for $262,000, less a 5% sales commission. A machine can be leased by Claxon Company for end of which there is no residual value. In addition, the repair, insurance, a tax expense that would be incurred by Claxon Company on the chine $21,600 over the three years. Prepare a differential analysis on January Claxon...
1. Home Realty, Incorporated, has been operating for three years and is owned by three investors....
1. Home Realty, Incorporated, has been operating for three years
and is owned by three investors. J. Doe owns 60 percent of the
total outstanding stock of 9,000 shares and is the managing
executive in charge. On December 31, the following financial items
for the entire year were determined: sales revenue, $186,000;
salaries and wages expense, $101,000; interest expense, $6,700;
advertising expenses, $9,225; and income tax expense, $18,900. Also
during the year, the company declared and paid the owners dividends...
Comprehensive Problem 1 [The following information applies to the questions displayed below.] On December 1, Year 1, Joh...
Comprehensive Problem 1 [The following information applies to the questions displayed below.] On December 1, Year 1, John and Patty Driver formed a corporation called Susquehanna Equipment Rentals. The new corporation was able to begin operations immediately by purchasing the assets and taking over the location of Rent-It, an equipment rental company that was going out of business. The newly formed company uses the following accounts. Cash Capital Stock Accounts Receivable Retained Earnings Prepaid Rent Dividends Unexpired Insurance Income Summary...
Assume it is Monday, May 1, the first business day of the month, and you have...
Assume it is Monday, May 1, the first business day of the month, and you have just been hired as the accountant for Colo Company which operates with monthly accounting periods. All of the company's accounting work is completed through the end of April, and its ledgers show April 30 balances. During your first month on the job, the company experiences the following transactions and events (terms for all its credit sales are 2/10, n/30 unless stated differentlys: May. 1...
Please read the article and answer about questions. You and the Law Business and law are...
Please read the article and answer about questions. You and the Law Business and law are inseparable. For B-Money, the two predictably merged when he was negotiat- ing a deal for his tracks. At other times, the merger is unpredictable, like when your business faces an unexpected auto accident, product recall, or government regulation change. In either type of situation, when business owners know the law, they can better protect themselves and sometimes even avoid the problems completely. This chapter...
I need my work checked & a little help answering req 1B
&& 2B, im sure i did 1B wrong
On January 4, 2018, Runyan Bakery paid $358 million for 10 million shares of Lavery Labeling Company common stock. The investment represents a 30% interest in the net assets of Lavery and gave Runyan the ability to exercise significant influence over Lavery's operations. Runyan chose the fair value option to account for this investment. Runyan received dividends of $3.50 per...
At the beginning of the year, Lambert Motors issued the three notes described below. Interest is paid at year-end. (FV of $1. PV of $1. FVA of $1. PVA of $1. FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) 1. The company issued a two-year, 10%, $800,000 note in exchange for a tract of land. The current market rate of interest is 10% 2. Lambert acquired some office equipment with a fair value of...
CASp 13 Exercise Chapter 1 Economics Flashcards Qui Chapter 13 Exercise Saved Hel Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indic 4 Simon Company's year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained...
1) Although a proprietorship is not a separate legal entity, a partnership is True False 2) Purchasing supplies on credit increases assets while decreasing liabilities. True False 3)On October 15, Gallery Comp. received $12,500 as a down payment on a consuting contract. The amount was credited to Unearned Consulting Revenue By October 31, 10% of the contract was completed. Gallery Corp. needs to prepare an adjusting entry for $1.250. True False 4) Asset, liability and revenue accounts are not closed...
1/ As the assistant to the Chief Financial Oce for Volkswagen,
you've been tasked with managing their
international operations so as to facilitate the coordination of
their manufacturing networks. More speci-
cally, you've be presented with the following scenarios and
asked to present a 'transnational solution' with
cash currently on hand. As such, you are considering exchanging
Swiss Francs (CHF) for Japanese Yen
(JPY). At the bank you see the following.
CHF/USD 1.6933
USD/JPY: 115.44
_What is the JPY/CHF exchange...
tice Exercises EE9-1 p 369 PE9-1A Lease or sell Claxon Company owns a machine with a cost of $305,000 and of $65,000 that can be sold for $262,000, less a 5% sales commission. A machine can be leased by Claxon Company for end of which there is no residual value. In addition, the repair, insurance, a tax expense that would be incurred by Claxon Company on the chine $21,600 over the three years. Prepare a differential analysis on January Claxon...
1. Home Realty, Incorporated, has been operating for three years
and is owned by three investors. J. Doe owns 60 percent of the
total outstanding stock of 9,000 shares and is the managing
executive in charge. On December 31, the following financial items
for the entire year were determined: sales revenue, $186,000;
salaries and wages expense, $101,000; interest expense, $6,700;
advertising expenses, $9,225; and income tax expense, $18,900. Also
during the year, the company declared and paid the owners dividends...
Assume it is Monday, May 1, the first business day of the month, and you have just been hired as the accountant for Colo Company which operates with monthly accounting periods. All of the company's accounting work is completed through the end of April, and its ledgers show April 30 balances. During your first month on the job, the company experiences the following transactions and events (terms for all its credit sales are 2/10, n/30 unless stated differentlys: May. 1...
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