Solution Manual Chapter 1 - Accounting for Intercorporate Investments 1. a. If the investor acquired 100% of the investee at book value, the Equity Investment account is equal to the Stockholders’ Equity of the investee company. It, therefore, includes the assets and liabilities of the investee company in one account. The investor’s balance sheet, therefore, includes the Stockholders’ Equity of the investee company, and, implicitly, its assets and liabilities. In the consolidation process,
Words: 5410 - Pages: 22
9% respectively but on the other hand, goodwill and other assets continued to decrease by 13% and 3% respectively. Increase in deposits with banks and thefederal reserve and purchase under resale agreements were so significant and contributed to the total increase in assets. Deposits increased from $85,279 in 2010 to $121,814 in 2012 and federal fund sold and securities purchased under resale agreement increased from 235314 to 296296. The decrease in goodwill by 12% from 2010 to 2011 was due to Assets
Words: 677 - Pages: 3
CORPORATE REPORTING ASSIGNMENT On 1 January 2005 Upper Ltd acquired 60% of the shares in Lower Ltd for RM25,000 On that date the equity in Lower Ltd consisted of: Share capital RM15,000 Revaluation surplus RM3,000 General reserve RM5,000 Retained profits RM7,000 The directors of Upper Ltd believed the equity in Lower Ltd reflected the fair value of net assets with the exception of Land which was (and continues to be) carried at RM2,000 below its market value. Details of intragroup
Words: 1884 - Pages: 8
Dataline A look at current financial reporting issues No. 2012-17 November 12, 2012 What’s inside: Overview .......................... 1 SEC filing deadlines ........ 1 Financial statement disclosure ......................2 Income statement classification of losses..............................2 Insurance .........................3 Asset impairments .......... 5 Non-impairment costs ............................... 7 Debt and liquidity issues ........................... 8 Tax considerations
Words: 4771 - Pages: 20
AC 410B Intermediate Accounting II Final Exam Topics Chapter 11: Depreciation, Impairments, and Depletion Questions 1. Explain the meaning of depreciation. 2. Describe factors involved in the depreciation process. 3. Describe the different methods of depreciation. 4. Identify the conditions for impairment of fixed assets. 5. Explain the treatment of impairments for different kinds of assets. 6. Describe the full cost vs. successful efforts concepts for depletion
Words: 1647 - Pages: 7
Accounts Receivable 8,319,000 8,786,000 1 6% Inventory 1,574,000 1,571,000 -1 0% Other Current Assets 1,855,000 2,132,000 1 15% Total Current Assets 15,169,000 16,758,000 1 10% Property Plant & Equipment 47,054,000 50,023,000 1 6% Goodwill 27,881,000 27,826,000 -1 0% Intangibles 12,759,000 13,355,000 1 5% Other Long-Term Assets 857,000 832,000 -1 -3% Total Assets 84,186,000 88,182,000 1 5% Liabilities Accounts Payable 5,371,000 5,504,000 1 2%
Words: 870 - Pages: 4
You can buy the this complete file at http://testbanksfor.com TEST BANK CHAPTER 1 Intercorporate Investments: An Overview MULTIPLE CHOICE Use the following information on a company’s investments in equity securities to answer questions 1 4 below. The company’s accounting year ends December 31. Investment Ajax Company stock Bril Corporation stock Coy Company stock 1. Date of acquisition 6/20/13 5/1/13 8/2/13 Cost $40,000 20,000 16,000 Fair value 12/31/13
Words: 9574 - Pages: 39
Box 0.3: Blurring the Line Between Profits and Nonprofits Yes, I would donate my used items to Portland, Oregon’s, Goodwill. Some people may disagree with me based on the amount of money the organization’s president, Michael Miller, and other top executives bring home per year. Some may disagree because Portland, Oregon’s Goodwill is a nonprofit organization, which by virtue of this title is tax exempt. Still others may disagree based on the ideal that a nonprofit organization that makes such a
Words: 1219 - Pages: 5
The Challenges of Trust Management Your Name CMGT/430 July 10, 2011 Distributed Trust Management What is distributed trust management? Why do business-to-business (B2B) companies like EBay and PayPal have such profitable success with online transactions? Do people trust business-to-consumer (B2C) methods? Have intra-enterprise applications matured to the level of satisfaction that company executives come to expect? These questions are at the forefront
Words: 1312 - Pages: 6
brand, Natural Wonder, which was operated by Revlon Consumer Products Corporation from 1963 to 2000. (economictimes.com). Credibility is also defined as trust and the trust of a business is measured as its goodwill in the market and with its consumers. Both these companies had a reputable goodwill in the market in 70s, which adds to their credibility. Women are more likely to believe the popular cosmetic
Words: 762 - Pages: 4
