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Dominik [7]
4 years ago
7

Company J acquired all of the outstanding common stock of Company K in exchange for cash. The consideration transferred exceeds

the acquisition-date fair value of the net assets acquired. How should Company J determine the amounts to be reported for the plant and equipment and long-term debt acquired from Company K?
Business
1 answer:
slamgirl [31]4 years ago
4 0

<u>Answer:</u> The amounts have to be determined using fair value for plant and equipment and for long term debt.

<u>Explanation:</u>

Fair value method is based on the market price of the asset. The historical value of the assets is not used to consider the sale price of the asset. Fair value is where Company J and Company K both the parties have to accept the price based on the known facts of the assets.

Company J and Company K should both accept the price out of free will and should not be out of compulsion. Company J can report based on the financial statement fair value of the assets and long term debt.

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Trevor has bought his first home in Fort Wayne (tax rate 3.57%) that has an assessed value of $190,000. What is his tax bill amo
Olenka [21]

The tax bill amount after deductions is $3,364.73

<h3>What is the tax bill?</h3>

how much tax a person or business is required to pay within a specific time frame: Couples making over $234,000 and individuals making over $159,000 will pay up to an additional $110 for each person included on their state tax return.

<h3>What does "bill amount" mean?</h3>

The term "Bill Amount" refers to the total amount owed, including any current fees and any past-due amounts, plus or minus any changes.

<h3>To what extent do deductions lower taxes?</h3>

Your taxable income is decreased by deductions by the percentage of your highest tax rate. If your tax rate is 24 percent, for instance, a $1,000 deduction will result in a $240 tax bill savings (1,000 multiplied by 0.24 equals 240). When it comes to deductions, you can only choose between the standard deduction and itemizing.

learn more about tax bill amount here <u>brainly.com/question/1775528</u>

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4 0
2 years ago
On January 2, 2017, Grando Company sells production equipment to Fargo Inc. for $50,000. Grando includes a 2-year assurance warr
natima [27]

Answer:

See answer in the attached.

Explanation:

5 0
3 years ago
When marginal cost exceeds average total cost:
gtnhenbr [62]

Answer:

B) average total cost must be rising

Explanation:

Marginal cost is the rate at which total variable cost increases when one more unit is produces.

So when marginal cost is larger than average cost, it means that total average costs must be increasing.

For example, we have the following production costs:

  • total costs = $100
  • units produced = 20 units
  • total average costs = $5 per unit

If the marginal cost of producing 1 more unit is $6, then the total costs will be $106 and the total average cost will be $5.05 per unit (= $106 / 21 units).

4 0
4 years ago
trighton's trailer co. sells all kinds of trailers and provides a one-year warranty on all new trailer sales. based on history,
matrenka [14]

At the end of the month, Trighton will record <u>$600</u> in warranty expenses.

Expenses is a term used in economics that can be described as the amount that is incurred in making a commodity or a product. These are the basic inputs that the firm has to acquire to maintain a particular product or products.

Trighton anticipates a return of 2% and will have a warranty cost of  $100 per trailer. As Victor sold 300 trailers for a total of $255,000, the total cost that would be incurred will be with respect to the anticipated return of 2% on the warranty cost and the number of the visitors or the seller have sold to the customer. Therefore the amount Trighton will record in warranty expenses is calculated as follows;

= 300 x.02 x $100

= $600

Although a part of your question is missing, you might be referring to this question:

Trighton's Trailer Co. sells all kinds of trailers and provides a one-year warranty on all new trailer sales. Based on history, Trighton anticipates that 2% of trailers will be returned and will have a warranty cost of $100 per trailer. During the month, Victor sold 300 trailers for a total of $255,000. At the end of the month, Trighton will record $____________ in warranty expense.

To learn more about warranty expense; click here:

brainly.com/question/14179463

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4 0
1 year ago
______ policy seeks to foster or discourage various economic or social activities, typically through subsidies or tax breaks.
Zepler [3.9K]

Answer:

domestic

Explanation:

try it but i don't know! just a guess

3 0
3 years ago
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