000 Capital stock issued (at par) P30,000,000 14-5: c Purchase price P2,550,000 Legal fees 25,000 Acquisition cost P2,575,000 Less: Fair value of net assets acquired Current assets P1,100,000 Plant assets 2,200,000 Liabilities ( 300,000) 3,000,000 Income from acquisition P( 425,000) 14-6: a (at fair value at date of acquisition) 14-7: d Abel net income, January to December (P80,000 + P1,320,000) P1,400,000
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sheets of Nike, Inc. are presented here. | NIKE INC. | Comparative Balance Sheets | May 31 | ------------------------------------------------- ($ in millions) | Assets | 2007 | 2006 | Current assets | $8,076 | $7,346 | Property, plant, and equipment (net) | 1,678 | 1,658 | Other assets | ------------------------------------------------- 934 | ------------------------------------------------- 866 | Total assets | ------------------------------------------------- $10,688 | -------------------------------------------------
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| (1,350) | Net cash flow from operating activities | | | (4,390) | | | | | Cash flows from investing activities: | | | | Purchase of plant | (2,900) | | | Proceeds from the disposal of plant | 12,000 | | | Proceeds from government grant | 950 | | | Investment income | 40 | | 10,090 | Net cash inflow from investing activities | | |
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5 The Balance Sheet and Financial Disclosures CHAPTER LEARNING OBJECTIVES OVERVIEW LO1 LO2 LO3 LO4 LO5 Chapter 1 stressed the importance of the financial statements in helping investors and creditors predict future cash flows. The balance sheet, along with accompanying disclosures, proAfter studying this chapter, vides relevant information useful not only in helping you should be able to: investors and creditors predict future cash flows Describe the purpose of the
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| group assignment 2 | Muhammad Farhan | 11340041 | Zahid Mahmood | 11473485 | Table of Contents Executive Summary 3 Accounting Analysis 3 1. Accounting Policies and Standards 3 Revenue Recognition (AASB 118): 3 Property, Plant & Equipment (PPE) (AASB 116): 3 Intangible Assets (AASB 3, AASB 138): 4 Borrowing Costs (AASB 123): 4 2. Flexibility in Selecting the Key Accounting Policies 4 3. Accounting Strategy Employed by Management & Incentives 5 4. Quality of
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150 Supplies 875 Unearned fees 1,150 Prepaid Rent 2,050 Total liabilities $ 2,550 Prepaid insurance 1,670 Total current assets $ 29,695 Property, plant, and equipment: Owner’s Equity Office equipment $ 21,250 Sheila Shaw, capital 47,720 Less accum. depr. 675 Total Property, plant, and equipment 20,575 Total liabilities and Total assets $ 50,270 owner’s equity $ 50,270 SHEILA SHAW CONSULTING Income Statement For the Month Ended August
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rest of the shares of Canoe Ltd. The balance sheets of the three companies as at that date were: Maori Ltd War Ltd Canoe Ltd Cash $20 000 $ 1 000 $ 12 500 Accounts receivable 35 000 19 000 30 000 Inventory 52 000 26 500 40 000 Property, plant & equipment (net) 280 500 149 500 107 500 Shares in Canoe Ltd (15 000 shares) 19 000 - - Debentures in Paddles Ltd 45 000 18 000 ______ $451 500 $214 000 $190 000
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CHAPTER 10 Plant Assets, Natural Resources, and Intangible Assets ASSIGNMENT CLASSIFICATION TABLE Brief Exercises 1, 2 A Problems 1A B Problems 1B Study Objectives 1. Describe how the cost principle applies to plant assets. Explain the concept of depreciation. Compute periodic depreciation using different methods. Describe the procedure for revising periodic depreciation. Distinguish between revenue and capital expenditures, and explain the entries for each. Explain how to account for the disposal
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general and administrative expenses. Intercompany balances and transactions are eliminated. Our fiscal year ends on the last Saturday of each December, resulting in an additional week of results every five or six years. Raw materials, direct labor and plant overhead, as well as purchasing and receiving costs, costs directly related to production planning, inspection costs and raw material handling facilities are included in cost of sales. The costs of moving, storing and delivering finished product are
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CHAPTER 10 Plant Assets, Natural Resources, and Intangible Assets ASSIGNMENT CLASSIFICATION TABLE Brief Exercises 1, 2 A Problems 1A B Problems 1B Study Objectives 1. Describe how the cost principle applies to plant assets. Explain the concept of depreciation. Compute periodic depreciation using different methods. Describe the procedure for revising periodic depreciation. Distinguish between revenue and capital expenditures, and explain the entries for each. Explain how to account for the disposal
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