Quiz I (Chapters 1and 2) Date: Name: ID: Answer the following Questions: 1. Tower Inc. owns 30% of Yale Co. and applies the equity method. During the current year‚ Tower bought inventory costing $66‚000 and then sold it to Yale for $120‚000. At year-end‚ only $24‚000 of merchandise was still being held by Yale. What amount of inter-company inventory profit must be deferred by Tower? A. $6‚480 B. $3‚240 C. $10‚800 D. $16‚200 E. $6‚610 2. All of the following statements regarding the investment account
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A guide to Consolidated accounts A SIMPLE GUIDE TO CONSOLIDATED ACCOUNTS This is a basic guide prepared by the Technical Advisory service for members and their clients. It is an introduction only and should not be used as a definitive guide‚ since individual circumstances may vary. Specific advice should be obtained‚ where necessary. Requirement to Prepare The Companies Act 2006 gives exemption from the requirement to prepare group accounts to small groups but not medium sized groups
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investments * Strategic Investments (Investor intends to establish or maintain a long-term operating relationship with the entity in which the investment is made): * Control – Full Consolidation * Significant Influence – Equity Method * Joint Ventures – Proportionate Consolidation * Non-Strategic Investments: * Fair Value through Profit and Loss (FVTPL) – Fair Value Method * Available-For-Sale (AFS) – Cost Method * IFRS 9 requires
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either firm. Describe the types of business combination that might be available for the two firms. Include ideas like merger‚ consolidation‚ acquisition‚ and friendly and hostile takeovers. How would Highland’s management get started? Do the relative sizes of the two firms have any implications for the kinds of combination that are possible or likely? This could be a merger or a consolidation. Because the sizes aren’t too different‚ a consolidation seems most reasonable. Similarly‚ the sizes
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Lecture 1 – Corporate Financial Reporting and Revision LECTURE OUTLINE Outline the nature and characteristics of companies Describe the sources of corporate financial reporting in Australia Identify which entities need to prepare financial reports that comply with accounting standards Account for share issues and dividends Account for asset revaluations and asset impairment Nature of Companies Type of organization established under the cooperation’s act 2001 Legal capacity and powers
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First‚ they help consumers regain control over their financial lives by offering debt consolidation loans that consolidate credit card debts into one lump sum with one monthly payment amount that often includes a more favorable interest rate. These types of programs also include debt consolidation for poor credit. After helping them get the financial aspects of their credit card debts under control‚ they then require its clients to submit
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allowed for a specific form or not? The DFF is available to a form where the symbol “[ ]” is displayed 5) How do you disable a segment value and code combinations so journals will not be created with these accounts? You must disable the segment‚ and disable every code combination that uses that segment. You can disable a range of code combinations using the “Program - Inherit Segment Value Attributes” 6) How do you update segment qualifiers or rollup groups for an existing value? You need to
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MAB Law Firm Network Consolidation Executive Summary There are inherent challenges in merging the law firms Myrtle & Associates (Site A) and Belleview Law Group (Site B). This document will identify the current architecture‚ address the proposed changes and identify issues to be resolved. With the attached security plan and network diagrams‚ it is intended to provide an accurate before and after view. Currently both site A and B operate closed networks. This means neither have a connection
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1. award: 0 out of 0.00 points On June 1‚ Cline Co. paid $892‚000 cash for all of the issued and outstanding common stock of Renn Corp. The carrying values for Renn’s assets and liabilities on June 1 follow: Cash $ 178‚000 Accounts receivable 237‚000 Capitalized software costs 374‚000 Goodwill 110‚000 Liabilities (201‚000 ) Net assets $ 698‚000 Note: Parentheses indicate a credit balance. On June 1‚ Renn’s accounts receivable had a fair value of $155
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1.Strongest pressure for the brand harmonization was due to the consolidation of European retailers. Retailers are focusing on internationalizing with increasing activity of acquisition and mergers after getting consolidated at variable rates within markets. For instance: combinations of Carrefour and Promodes‚ of Intermarche and Spar. Products that those retailers are selling should become international also parallel to their evolution‚ at least those big(heavy buyer) retailers will have greater
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