The fair value of the noncontrolling interest at that date was determined to be $100‚000. Silver’s balance sheet immediately before the combination reflected the following balances: A careful review of the fair value of Silver’s assets and liabilities indicated that inventory‚ land‚ and buildings and equipment (net) had fair values of $65‚000‚ $100‚000‚ and‚ $300‚000 respectively. Goodwill is assigned proportionately to Bristle and the noncontrolling shareholders. 1. Based on the preceding
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Accounting Project SHAREHOLDER’S FUNDS Shareholders’ funds are the balance sheet value of the shareholders’ interest in a company. For company (as opposed to group) accounts it is simply all assets less all liabilities. For consolidated group accounts the value of minority interests should also be excluded. The addition of minority interests gives us “shareholders’ fund including minority interests”. A further adjustment gives us total equity. SHARE CAPITAL The capital collected by a joint
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CHAPTER 1 Accounting in Action ASSIGNMENT CLASSIFICATION TABLE | | | | |Brief | | | |Study | |Questions | |Exercises | |Do It! | |Objectives | | | |
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15 september 2010 Externe Verslaggeving 1 Assignment 1 Hanna Zaitsava 5686377 1) Identify all the economic entities involved in the development of Anacomp’s CIS software system: * Parternship with RTS Associates * Officers and directors of Anacomp (total ownership amounted to 38.5%) * 13 major banks participated as advisory banks to review the project 2) Describe the contractual arrangements between the economic entities involved in the CIS development. Who bears the majority
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asset‚ decreases another asset| d.|decreases assets‚ increases liabilities| a 6. At of the end of its accounting period‚ December 31‚ 2009‚ Great Marks Company has assets of $940‚000 and liabilities of $300‚000. During 2010‚ Great Marks sold $65‚000 of capital stock and declared and paid $45‚000 in dividends. What is the amount of net income during 2010‚ assuming that as of December 31‚ 2010‚ assets were $995‚000‚ and liabilities were $270‚000? a.|$ 65‚000| b.|$ 50‚000| c.|$105‚000| d.|$370‚000|
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otherwise be interested. An investor would buy these types of bonds because it gives you the option to convert to stocks. If converted‚ the firm would reduce a liability and increase equity on the balance sheet for the amount converted. 5) a. Ratio Definition Industry Avg Rite Aid 2010 Rite Aid 2009 Common-size debt Total Liabilities/Total Assets 48.83% (9‚723‚462/8‚049‚911)= 120.79% (9‚526‚192/8‚326‚540)= 114.41% Common-size interest expense
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entity? Does the report state the basis of accounting used for the General Fund? What types of assets are included on the govern- mental funds balance sheet? Do current and noncurrent assets appear on the balance sheet? Do current and noncurrent liabilities appear on the balance sheet? Is this reporting consistent with the basis of accounting being followed? c. Other Governmental Fund Types. List the names of governmental funds other than the General Fund that are included as major funds in the
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Complete Problem 4-8A. P4-8A Dana La Fontsee opened Pro Window Washing Inc. on July 1‚ 2012. During July the following transactions were comple July 1 Issued 12‚000 shares of common stock for $12‚000 cash. 1 Purchased used truck for $8‚000‚ paying $2‚000 cash and the balance on account. 3 Purchased cleaning supplies for $900 on account. 5 Paid $1‚800 cash on 1-year insurance policy effective July 1. 12 Billed customers $3‚700 for cleaning services. 18 Paid $1‚000 cash on amount owed
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OWNERS Israel Sam H. Buat Michael Sam H. Buat Mark Anthony M. Catulong Charmaine Rose D. Merka High-Cut Barbershop Corner Sacred Heart Avenue – Cabrillos Street Digos City‚ 8002 I. Table of Contents I. Table of Contents ………………………………………………………………….2 II. Executive Summary ……………………………………………………………….4 III. General Company Description ……………………………………………………5 Mission Statement Goal Objectives Business Philosophy IV. Products and Services …………………………………………………………….8 Services Service Description Competitive
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------------------------------------------------- ------------------------------------------------- PROFITABILITY RATIO ANALYSIS: Najmun Nahar Srity Return on Asset (ROA): ID.No.091-11-924 Figure: Return on Asset (ROA) Interpretation:
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