Allfoods Corp. (Allfoods) acquired 80 percent of the outstanding common stock of Baked Beans Corp. in a business combination. After value consideration transferred value of tangible and intangible assets acquired‚ libilities assumed‚ I recommend doing this consolidation general entry for the business combination: Dr. | Land | $ 21‚000‚000 | | | | Dr. | PPE | $ 7‚000‚000 | | | | Dr. | IPR&D | $ 15‚000‚000 | | | | Dr. | Trademark | $ 3‚000‚000 | | | | Dr. | Goodwill
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IFRS 13 Fair Value Measurement applies to IFRSs that require or permit fair value measurements or disclosures and provides a single IFRS framework for measuring fair value and requires disclosures about fair value measurement. The Standard defines fair value on the basis of an ’exit price’ notion and uses a ’fair value hierarchy’‚ which results in a market-based‚ rather than entity-specific‚ measurement. IFRS 13 was originally issued in May 2011 and applies to annual periods beginning on or after
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is a person with very high ethical values and she is very religious. She looks for a job in Hammonsville‚ where she wants to stay. She starts working for the Wise Research Corporation‚ a field research services company. They have offices in Dallas‚ Hammonsville and Tulsa. She travels to Dallas to start her training for the job and finds out that the company’s behavior to the different stakeholders is very unethical. Sarah‚ a very ethical person with high values‚ finds herself in a big dilemma – should
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122 Days 122 days‚ in 122 days at Whitefish Mountain Resort he set a record of strength and endurance bell to bell without a rest. A man from Kansas left us all in his dust; he set a record that left everyone in shock. Many before him had tried to break the record by skiing sunrise to sunset everyday they could‚ but they grew tired and weary so they could not go on. Ken Jones had the strength and integrity to destroy the colossal record. After 24 years without skiing he skied an insane 8‚058
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1. Sadie incorporates her sole proprietorship with assets having a fair market value of $80‚000 and an adjusted basis of $100‚000. Even though § 351 applies‚ Sadie may recognize her realized loss of $20‚000. F True False 2. For § 351 purposes‚ stock warrants are included in the definition of "stock." F True False 3. In order to retain the services of Paige‚ a key employee in Byron’s sole proprietorship‚ Byron contracts
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callable at 120 at any time on or after 12/31/2013. JP Corp uses effective interest rate method to calculate their interest expense each period. (12 points) Required: 1) Calculate the issue price of the bonds. Present value of face amount = $1‚000‚000*0.37689 = 376‚890 Present value of interest payments = $60‚000*12.46221 = 747‚733 Total price of bonds at issuance = 1‚124‚623 Face amount discount factor from PV of $1‚ n = 20‚ i = 5% Interest payment amounts = $1‚000‚000*12%*1/2 = $60
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Peter Fazio talked to Cypress/GR Houston I‚ LP about buying retail property‚ with the main tenant being a Garden Ridge store. Fazio and his agents conducted a background investigation‚ while doing so he found information that concerned that Garden Ridge was in poor financial health but after being certainty by Cypress that Garden Ridge had a positive outlook. Fazio went ahead and sent a letter to Cypress and sent a letter to Cypress that he is willing got buy the property for $7.67 million “based
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------------------------------------------------- BLUE MOUNTAIN RESORTS: THE SERVICE QUALITY JOURNEY (Charlotte De Baere) 1. ------------------------------------------------- Service Concept of BMR The service concept of BMR is trying to cover all aspects of every facility they offer. This means not only improving the service provided in skiing facilities but in the whole ‘four season/village’ concept. Due to the wide range of services BMR provides‚ they fall short on different areas.
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cannot pay a note due that day. It is a $500‚000 note with $50‚000 accrued interest payable to Edsen‚ Inc. Edsen agrees to forgive the accrued interest‚ extend the maturity date to December 31‚ 2008‚ and reduce the interest rate to 4%. The present value of the restructured cash flows is $428‚000. Instructions Prepare entries for the following: (a) The restructure on Poore’s books. (5 points) (b) The payment of interest on December 31‚ 2007. (5 points) (c) The restructure on Edsen’s books
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a. 150‚000 b. 100‚000 c. 550‚000 d. 240‚000 6. Where there is a production cycle of more than one for a biological asset‚ PAS 41 encourages separate disclosure of a. Physical change only b. Price change only c. Total change in value d. Physical change and price change 7. Financial accounting is the area of accounting that emphasizes reporting to a. Management b. Regulatory bodies c. Internal auditors d. Creditors and investors 8. An investor purchased a bond as
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