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RUDIKE [14]
3 years ago
12

At the date of the business combination, the book values of Spice’s assets and liabilities approximated fair value except for in

ventory, which had a fair value of, and land, which had a fair value of
Business
1 answer:
agasfer [191]3 years ago
8 0

Answer:

$830,000.

Explanation:

Step one: determine or Calculate the total number of assets.

Total number of assets = Retained Earnings + inventory(spice) + cash + land fair value + inventory (pumpkin)

Total number of assets = 180,000 + 25,000 + 15,000 + 95,000 + 30,000 = $345,000.

Step two : Calculate or determine the total liabilities.

Total liabilities = retained earnings + bonds payable + Account payable (pumpkin) +

Total liabilities = 180,000 + 40,000 + 10,000 = $230,000.

Step three: determine the value for the total amount of goodwill.

Total amount of Goodwill = A - B

Where A = paid consideration + non controlling interest fair value.= $(210000 + 90000) = $300, 000.

B= acquired Assets - assumed liabilities. = $(345,000 - 230,000) = $115,000.

Total amounts of Goodwill = A - B = $185,000.

Step four: determine the consolidated sheet;

185,000 + 95,000 + 65,000 + 360,000 + 30,000 + 95,000 = $830,000.

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87 because he

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2 years ago
Marshall-Miller & Company is considering the purchase of a new machine for $50,000, installed. The machine has a tax life of
vlabodo [156]

Answer:

$10,620

Explanation:

Depreciation for Year 1 = 0.202 × $50,000

                                       = $10,100

Depreciation for Year 2 = 0.323 × $50,000

                                       = $16,150

Depreciation for Year 3 = 0.194 × $50,000

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Depreciation for Year 4 = 0.125 × $50,000

                                       = $6,250

Accumulated depreciation = $10,100 + $16,150 + $9,700 + $6,250

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Book value of machine as on date of sale:

= Purchase price - Accumulated depreciation

= $50,000 - $42,200

= $7,800

Selling price = $12,500

Gain on sale of machine = $12,500 - $7,800

                                         = $4,700

Tax rate = 40%

Tax on capital gain = $4,700 × 0.40

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Net proceeds on sale of machine:

= Selling price – Tax paid on capital gain

= $12,500 - $1,880

= $10,620

8 0
3 years ago
Four basic steps are used in an abc system. list the proper order of these​ steps, which are currently scrambled​ below:
alukav5142 [94]
First Identity the primary activities
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Followed by calculating an activity
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3 years ago
When working with international firms, U.S. businesses Multiple Choice expect socially responsible behavior from their business
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When working with international firms, U.S businesses expect socially responsible behavior from their business partners.

<h3><u>Why do U.S businesses increasingly focus on international businesses?</u></h3>

American businesses are aware that doing business abroad will boost productivity and broaden their population, which will promote economic expansion. Since the beginning of time, there have been numerous international exchanges, and American businesses now recognize the advantages of offering their services abroad.

To cut costs, some US companies relocate abroad. To grow their business, other companies venture abroad. Many companies can successfully operate on a global scale.

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4 0
2 years ago
A sole proprietorship:
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Answer:

D. has its profits taxed as personal income.

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Characteristics of a sole proprietorship :

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2. The onwer has an unlimited liability.

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