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liraira [26]
3 years ago
8

On January 1, 20X4, Plimsol Company acquired 100 percent of Shipping Corporation's voting shares, at underlying book value.

Business
1 answer:
ArbitrLikvidat [17]3 years ago
4 0

Answer:

Explanation:

The first step is to determine the income to be carried forward:

The diagram is attached.

Therefore, the amount of consolidated retained earnings is (a.) $235,000

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A property is leased for $24,000 per year although market rents are currently $27,500 per year and are expected to increase by 2
zhannawk [14.2K]

Answer:

the present vlaue of the ledased property = $251,298

Explanation:

the free market value in 10 years = ($27,500 x (1 + 2%)¹⁰) / 10% = $335,223

free cash flows year 1 - 9 = $24,000

free cash flow year 10 = $359,223

discoutn rate = 11.5%

using a financial calculator, the present value of the property = $251,298

6 0
3 years ago
During fiscal 2016, Shoe Productions recorded inventory purchases on credit of $337.8 million. The financial statement effect of
iren2701 [21]

Answer:

A. Increase liabilities (Accounts payable) by $337.8 million

Explanation:

The journal​ entry will be: Inventory (Credit - Increased) 337,860,000 and Accounts payable (Debit - Increased) 337,860,000.

The company must recognize the increase in the Inventory and the medium of payment (Accounts payable).

B is false because this operationn can also be a decrease in cash, but the amount in the operation is too high for this payment medium.

C is false because, the inventory is not sold, and COSG will be increased when the goods are sold.

D is also false because the inventory is increasing, not decreasing.

6 0
3 years ago
Toby, owner of a cupcake shop in New York, is considering opening a similar business (i.e., a cupcake shop) in Phoenix. After sp
crimeas [40]

Answer:

D) $4,200

Explanation:

the business investigation expenses of a taxpayer who is already engaged in a similar trade or business are fully deductible in the year incurred regardless of whether or not the taxpayer goes into a new business.

Therefore, the maximum amount of deduction for the current year is

$4,200.

6 0
3 years ago
New items developed for automobiles in the 1997 model year included a safer air bag, which, unlike previous air bags, eliminated
Debora [2.8K]

Answer:

(E) inflated to make

Explanation:

There is a grammatical error, in the sentence as for the words:

inflated, and making the words inflated to make shall be replaced in order to correct the error.

As the event discussed is related to the past that is already it happened that the bag got inflated to make the passenger who is already terrified think, that the car is on fire.

There is a new innovation to correct the past event, where the inflation of bag is related to making the person terrified, and are not two separate transactions, that shall be reported in different phrases.

3 0
3 years ago
Both Apple and Google sell electronic devices, and each of these companies has a different product mix.
Marrrta [24]

Answer:

Apple contribution margin

$    300 per unit

Apple Break even point:

$    120 units

Google contribution margin

 $   200

BEP

 $     50

Explanation:

\frac{Fixed\:Cost}{Contribution \:Margin} = Break\: Even\: Point_{units}

<em><u>Where:</u></em>

Sales \: Revenue - Variable \: Cost = Contribution \: Margin

Apple contribution margin

550 - 250 = 300 per unit

Apple Break even point:

36,000 / 300 = 120 units

Google contribution margin

470 - 270 = 200

BEP

10,000 /  200 = 50

3 0
3 years ago
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