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Fantom [35]
3 years ago
8

On January 1, 20X9, Pallet Company acquires 80 percent ownership in Slat Corporation for $200,000. The fair value of the noncont

rolling interest at that time is determined to be $50,000. Slat reports net assets with a book value of $250,000 and fair value of $250,000. Pallet Company reports net assets with a book value of $600,000 and a fair value of $650,000 at that time, excluding its investment in Slat. What will be the amount of consolidated net assets that would be reported immediately after the combination?
Business
1 answer:
polet [3.4K]3 years ago
7 0

Answer:

<em>Consolidated Assets 850,000</em>

Explanation:

We need to calcualte the alue of the purchased portion of Slat.

total assets - non-controlled = proportional owned assets

250,000 - 50,000 = 200,000

The consolidated net assets would be:

Pallet Company 650,000

Slat Company    250,000

non-controlling    (50,000)

<em>Consolidated Assets 850,000</em>

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Bulldog Corporation reported taxable income of $925,000 this year, before any deduction for any payment to its sole shareholder
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Answer:

Explanation:

The computation is shown below:

Corporate tax = (Taxable income - bonus expenses) × corporate tax rate

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The corporate tax rate is 21% and we take the same for computation

Shareholder tax = Bonus expenses × marginal tax rate

=  $153,000 × 35%

= $53,550

So, the total income tax would be equal to

= $162,120 + $53,550

= $215,670

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Answer:

As the salesperson person gave the offer to Peter which he was not sure about, Peter said that he will come back in an hour but Peter didn't came instead his neighbour Sean came and asked salesperson to buy that boat on the price he told to person to according to the rule of offer this offer was made to Peter not Sean. If Peter would have accepted it then salesperson and Peter would be in contract but in this case now the offeror is Sean and Offeree if salesperson so it is up to him to accept the offer. Until the salesperson does not accept the offer then contract has not been form. If the salesperson accepts the offer of 35,750  then the contract will be formed.

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3 years ago
"Manufacturing overhead applied is added to direct labor incurred and to what other item to equal total manufacturing costs for
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Answer:Direct materials used.

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Manufacturing overhead

includes ELECTRICITY USED TO RUN THE FACTORY EQUIPMENT, DEPRECIATION OF EQUIPMENT, BUILDING, FACTORY SUPPLIES AND FACTORY PERSONNEL. According to GAAP principles the manufacturing overhead must be attached to product produced in order to record the inventory and cost of goods sold.

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Suppose a banking system has $200 million in deposits, a required reserve ratio of 10 percent, and total bank reserves of $35 mi
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A(n) ____________ is a new agreement resulting from a bona fide dispute between the parties as to the terms of their original ag
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A(n) anticipatory breach is a new agreement resulting from a bonafide dispute between the parties as to the terms of their original agreement.

<h3>What is a breach?</h3>

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brainly.com/question/8307959

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