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Rudiy27
3 years ago
9

Mittelstaedt Inc., buys 60 percent of the outstanding stock of Sherry, Inc. Sherry owns a piece of land that cost $223,000 but h

ad a fair value of $526,000 at the acquisition date. What value should be attributed to this land in a consolidated balance sheet at the date of takeover?
Business
1 answer:
Ray Of Light [21]3 years ago
7 0

Answer:

Fair Value 549,000

Explanation:

The International accounting standard IAS 16 says that the asset must be reported at the fair value in the financial statement regardless of whether the company is acquired by another company or not. So the correct treatment of this asset would be to record it at fair value both in the consolidated financial statement and individual financial statements.

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On January 1, 2016, Bailey, Inc. had 84,810 shares of common stock outstanding. The following transactions occurred during 2016:
Pie

Answer:

$2.41

Explanation:

1 January-September 30        84,180*9/12=63,135

1 October-31 December (84,180+30,000)*3/12=28,545

Weighted average of common stocks outstanding =91,680

Earning per share (EPS)=Net Income/Weighted average common stocks

EPS=$221,062/91,680

EPS=2.41

6 0
3 years ago
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When a customer who wants to buy new furniture for his living room uses his mobile phone and opens an app that uses the camera to overlay different furniture options, this is a type of technology corresponding to augmented reality.

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8 0
2 years ago
Which of the following would be considered a subtopic for a mind map?
snow_lady [41]

Answer:

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3 0
3 years ago
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Types of Control Systems Controlling is one of the basic functions of management. It is critical to an organization's effectiven
Annette [7]

Answer: Option D

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Controlling helps the organisation to achieve its goals by making the employees working towards the same goal determined in the planning stage. Controlling sets the standards of performance for the employees which works as a guide in their job.

Hence the correct option is D.

5 0
3 years ago
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Answer:

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Explanation:

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