6-On January 2, 2018, Moving Motors, Inc. acquired Bourland Enterprises as a wholly- owned subsidiary, paying...
6-On January 2, 2018, Moving Motors, Inc. acquired Bourland Enterprises as a wholly- owned subsidiary, paying $1,341,500. The purchase price was $800,000 in excess of the book value of Bourland's net assets. Part of the excess was attributable to a building with a 7-year life undervalued by $350,000. The rest was goodwill. On the acquisition date, Bourland reported retained earnings...
3. On January 1, 2017, Chic Corp paid $750,000 for 100.000 shares of Toto Companted common...
3. On January 1, 2017, Chic Corp paid $750,000 for 100.000 shares of Toto Companted common stock, which represents 25% of Toto's outstanding common st ock. Toto reported f$300. 000 and paid cash dividends of $80.000 during 2017 Chic should report in Toto Company on its December 31, 2017, balance sheet at a. $750,000 b. $825,000 c $770,000 d. $805,000...
I need submission 2 and submission 3 completed please, thank you!!! Submission 1 - due Friday...
I need submission 2 and submission 3 completed please, thank
you!!!
Submission 1 - due Friday January 17 before 5pm - You must submit your completed Journal entries, the Worksheet complete through the Trial Balance (with totals for all columns), and the worksheet formulas tab complete through the Trial Balance. Your file must be named correctly - "Your name (first...
vanishing games
Vanishing Games Corporation (VGC) operates a massively multiplayer online game, charging players a monthly subscription of $10. At the start of January 2018, VGC’s income statement accounts had zero balances and its balance sheet account balances were as follows: Cash$1,810,000Accounts Receivable224,000Supplies23,400Equipment916,000Buildings446,000Land1,950,000Accounts Payable120,000Deferred Revenue91,000Notes Payable (due 2025)159,000Common Stock2,600,000Retained Earnings2,399,400 In addition to the above accounts, VGC’s chart of accounts includes the following: Service...
Company acquired a 70% interest in the Star Company in year 1. For the year ended...
Company acquired a 70% interest in the Star Company in year 1. For the year ended 91. year 2, Star reported net income of $80,000. During year 2, Star Co. sold to Planet Co. for $10,000 at a profit of $2.000. The merchandise remained in Star's 23. Planet Company acquired a 70% interest in the Star December 31, year 2,...
30 MARKS AND SPENCER GROUP PLC FINANCIAL STATEMENTS SUMMARY FINANCIALS CONSOLIDATED INCOME STATEMENT 52 weeks ended...
30 MARKS AND SPENCER GROUP PLC FINANCIAL STATEMENTS SUMMARY FINANCIALS CONSOLIDATED INCOME STATEMENT 52 weeks ended 28 March 2015 Underlying Non-underlying 52 weeks ended 29 March 2014 Underlying Non-underlying Total £m Em Em Em Total Em 10,309.7 Revenue 10,311.4 10,311.4 10,309.7 Operating profit 762.5 (61.2) 701.3 741.9 (47.4) 694.5 Finance income Finance costs 15.5 (116.8) 15.5 (116.8) 20.1 (139.1) 25.0...
Answer is complete and correct. General Journal No 1 Credit Date July 01 Debit 17,000 Cash...
Answer is complete and correct. General Journal No 1 Credit Date July 01 Debit 17,000 Cash Common Stock 17,000 July 01 Cash 17,000 Common Stock 17,000 July 01 3,600 Prepaid Insurance Cash 3,600 July 02 1,800 Legal Fees Expense Cash 1,800 July 04 1,500 Supplies Accounts Payable 1,500 July 07 370 Advertising Expense Cash ܘܘ ܘܘ ܘܘ ܘܘ ܘܘ ܘܘ...
Tru Developers, Inc., sells plots of land for industrial development. Tru recognizes income for financial reporting...
Tru Developers, Inc., sells plots of land for industrial development. Tru recognizes income for financial reporting purposes in the year it sells the plots. For some of the plots sold this year, Tru took the position that it could recognize the income for tax purposes when the installments are collected. Income that Tru recognized for financial reporting purposes in 2021...
Question 3 View Policies Current Attempt in Progress The intangible assets section of Grouper Corporation's balance...
Question 3 View Policies Current Attempt in Progress The intangible assets section of Grouper Corporation's balance sheet at December 31, 2022, is presented here. Patents ($89.500 cost less $8.950 amortization) Copyrights ($55,000 cost less $45,000 amortization) Total $80,800 10,000 $90,800 The patent was acquired in January 2022 and has a useful life of 10 years. The copyright was acquired in...
Fair Value Journal Entries, Available-for-Sale Investments Hurricane Inc. purchased a portfolio of available-for-sale securities in Year...
Fair Value Journal Entries, Available-for-Sale Investments Hurricane Inc. purchased a portfolio of available-for-sale securities in Year 1, its first year of operations. The cost and fair value of this portfolio on December 31, Year 1, was as follows: Name Number of Shares Total Cost Total Fair Value Tornado Inc. 1,250 $16,750 $18,590 Tsunami Corp. 700 22,960 25,030 Typhoon Corp. 200...
6-On January 2, 2018, Moving Motors, Inc. acquired Bourland Enterprises as a wholly- owned subsidiary, paying $1,341,500. The purchase price was $800,000 in excess of the book value of Bourland's net assets. Part of the excess was attributable to a building with a 7-year life undervalued by $350,000. The rest was goodwill. On the acquisition date, Bourland reported retained earnings...
3. On January 1, 2017, Chic Corp paid $750,000 for 100.000 shares of Toto Companted common stock, which represents 25% of Toto's outstanding common st ock. Toto reported f$300. 000 and paid cash dividends of $80.000 during 2017 Chic should report in Toto Company on its December 31, 2017, balance sheet at a. $750,000 b. $825,000 c $770,000 d. $805,000...
I need submission 2 and submission 3 completed please, thank
you!!!
Submission 1 - due Friday January 17 before 5pm - You must submit your completed Journal entries, the Worksheet complete through the Trial Balance (with totals for all columns), and the worksheet formulas tab complete through the Trial Balance. Your file must be named correctly - "Your name (first...
Company acquired a 70% interest in the Star Company in year 1. For the year ended 91. year 2, Star reported net income of $80,000. During year 2, Star Co. sold to Planet Co. for $10,000 at a profit of $2.000. The merchandise remained in Star's 23. Planet Company acquired a 70% interest in the Star December 31, year 2,...
30 MARKS AND SPENCER GROUP PLC FINANCIAL STATEMENTS SUMMARY FINANCIALS CONSOLIDATED INCOME STATEMENT 52 weeks ended 28 March 2015 Underlying Non-underlying 52 weeks ended 29 March 2014 Underlying Non-underlying Total £m Em Em Em Total Em 10,309.7 Revenue 10,311.4 10,311.4 10,309.7 Operating profit 762.5 (61.2) 701.3 741.9 (47.4) 694.5 Finance income Finance costs 15.5 (116.8) 15.5 (116.8) 20.1 (139.1) 25.0...
Answer is complete and correct. General Journal No 1 Credit Date July 01 Debit 17,000 Cash Common Stock 17,000 July 01 Cash 17,000 Common Stock 17,000 July 01 3,600 Prepaid Insurance Cash 3,600 July 02 1,800 Legal Fees Expense Cash 1,800 July 04 1,500 Supplies Accounts Payable 1,500 July 07 370 Advertising Expense Cash ܘܘ ܘܘ ܘܘ ܘܘ ܘܘ ܘܘ...
Tru Developers, Inc., sells plots of land for industrial development. Tru recognizes income for financial reporting purposes in the year it sells the plots. For some of the plots sold this year, Tru took the position that it could recognize the income for tax purposes when the installments are collected. Income that Tru recognized for financial reporting purposes in 2021...
Question 3 View Policies Current Attempt in Progress The intangible assets section of Grouper Corporation's balance sheet at December 31, 2022, is presented here. Patents ($89.500 cost less $8.950 amortization) Copyrights ($55,000 cost less $45,000 amortization) Total $80,800 10,000 $90,800 The patent was acquired in January 2022 and has a useful life of 10 years. The copyright was acquired in...
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