Fine Tresses LLC Business Plan

Packed Corporation owns 60 percent of Snowball Enterprises’ stock. On January 1, 20X1, Packed sold $1.18 million par value, 6 percent (paid semiannually), 20-year, first mortgage bonds to Kling Corporation at 97. On January 1, 20X8, Snowball purchased $354,000 par value of the Packed bonds directly from Kling for $351,980. Required: Prepare the consolidation entry needed at December 31, 20X8, to remove the effects of the intercorporate bond ownership in preparing consolidated financial statements. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round your intermediate calculations. Round your final answers to nearest whole dollar

On March 2, 2020, Zoe Moreau, Karen Krneta, and Veronica Visentin start a partnership to operate a personal coaching and lifestyle consulting practice for professional women. Zoe will focus on work-life balance issues, Karen on matters of style, and Veronica on health and fitness. They sign a partnership agreement to split profits in a 3:23 ratio for Zoe, Karen, and Veronica, respectively. The following are the transactions for CARLA VISTA Personal Coaching: 2020Mar. 2 The partners contribute assets to the partnership at the following agreed amounts: Z. Moreau K. Krneta V. VisentinCash S14,900 $10,500 $19,900Furniture 17,400 Equipment 19,600 14,600Total $34,500 $27,900 $34,500 They also agree that the partnership will assume responsibility for Karen's note payable of S4,900. Dec. 20 Zoe, Karen, and Veronica each withdraw $29,900 cash as a "year-end bonus." No other withdrawals were made during the year. 31 Total profit for 2020 was $109,000. 2021Jan. 5 Zoe and Veronica approve Karen's…

The Drano Plumbing Company form was created by Damon Davis. He determined a net profit of $50 000. He added up the $400,000 shortfall and the $300,000 credit on his Total Financial Sheet Columns and wondered, "Who knows the most probable cause of this disparity?" If that's the case, how should he investigate it?

Tasneem Sdn Bhd acquired Lapmin Sdn Bhd, an unincorporated entity, for RM2.8 million. A fair value exercise performed on Lowdown’s net assets at the date of purchase showed:     RM'000 Property, plant and equipment 3,000 Identifiable intangible asset 500 Inventory 300 Trade receivables less payables 200   4,000   How would the purchase be reflected in the consolidated statement of financial position?   A. Record the purchase as a financial asset investment at RM2.8 million B. Ignore the intangible asset (RM500,000), recording the remaining net assets at theirvalues shown above and crediting profit or loss with RM700,000 C. Record the net assets at their above values and credit profit or loss with RM1.2 million D. Record the net assets at their above values and credit goodwill with RM1.2 million

Direction: Write TRUE if the statement is true and FALSE if the statement is false. _1. A written partnership contract is required to be prepared whenever a partnership is formed. _2. All partnerships are subject to income tax. 3. A partner's contribution in the form of industry or service is recorded by debiting the account "Industry". _4. In the partnership books, there are as many capital and drawing accounts as there are partners. _5.A partners contribution in the form of noncash assets should be recorded at its fair market value in the absence of an agreed value. _6.A partnership is much easier and less expensive to organize than corporation. 7. A newly organized partnership should always open a new set of books . _8. All partnerships have at least one general partner. 9. Each partner generally has the authority to enter into contracts which are binding upon the partnership 10. The property invested in a partnership by a partner becomes the property of the partnership.…

These facts will be used for questions 1 - 10. A, an individual, transfers land with an adjusted basis of 40 and fair market value of 100, to Newco in exchange for 50 Newco shares, fair market value of 100. B, an individual, transfers equipment with an adjusted basis of 70 and fair market value of 110 to Newco in exchange for 50 Newco shares, fair market value 100, plus GM (General Motors) stock with a fair market value of 10. 1. What is A's realized gain or loss? a loss 10 30 O 60 none of the above What is A's recognized gain or loss? Oa loss 10 30 O 60 none of the above What is B's realized gain or loss? a loss 10 O 30 60 none of the above

The stockholders' equity section of Brent Corporation's balance sheet as of December 31, 2016 Stockholders' Equity Common stock, $5 par value; authorized, 2,000,000 shares;                 issued, 400,000 shares                                                        $2,000,000 Paid in capital in excess of par                                                           $850,000 Retained Earnings                                                                                 $3,000,000 Total                                                                                                        $5,850,000 The following events occurred during 2017: 1.) Jan 5    10,000 shares of authorized and unissued common stock were sold for $9 per share. 2.) Jan 16    Declared a cash dividend of 40 cents per share, payable February 15 to stockholders of record on February 5. 3.) Feb 11   40,000 shares of authorized and unissued common stock were sold for $11 per share. 4.)Apr 1   A two-for-one split was…

At a recent board meeting of Co., a non-executive director suggested that the company’s remuneration committee should consider scrapping the company’s share option scheme, since the executives could be rewarded by the scheme even when they do not perform well. A second non-executive director had a view that, even when the executives act in ways which decrease the agency problem, they might not be rewarded by the share option scheme if the stock markets were in decline.  REQUIRED:  Explain the nature of the agency problem and discuss the use of share option schemes and performance-related pay as methods of reducing the agency problem in a stock-market listed company.

In 2014, The W D Co. had total liabilities of $22,704 million and total assets of $43,679 million. In 2013, they had total liabilities of $21,990 million and total assets of $41,378 million. Calculate their debt to equity ratio for 2014 and 2013, respectively. a) 0.48 and 0.47 b) 0.52 and 0.53 c) 0.92 and 0.88 d) 1.08 and 1.13

Jack, a stockbroker, was an inexperienced in tax. He has sought the advice of an independent designated tax professional to advise him on tax planning and tax shelter that he needs. Simon, who is a designated accountant who specialized in those areas, advised Jack to invest in a number of multiple unit residential building (MURBs), a real estate investment project as tax shelter, by the conventional wisdom, were safe and conservative. When the value of MURBs fell during a decline in the real estate market, Jack lost heavily in his investment. Though the advice was perfectly sound at the time it was given, but unknown to Jack, Simon was also acting as adviser for developers in restructuring the MURBs and did not disclose that fact to Jack.   In the context of breach of contract, is Jack liable for the loss of investment? In the context of breach of fiduciary duty, is Jack liable as well? Does ethics issue involve? Please state your reasons.   Mr. Hunt, who has just retired, set up an…

Jack, a stockbroker, was an inexperienced in tax. He has sought the advice of an independent designated tax professional to advise him on tax planning and tax shelter that he needs. Simon, who is a designated accountant who specialized in those areas, advised Jack to invest in a number of multiple unit residential building (MURBs), a real estate investment project as tax shelter, by the conventional wisdom, were safe and conservative. When the value of MURBs fell during a decline in the real estate market, Jack lost heavily in his investment. Though the advice was perfectly sound at the time it was given, but unknown to Jack, Simon was also acting as adviser for developers in restructuring the MURBs and did not disclose that fact to Jack.  In the context of breach of contract, is Jack liable for the loss of investment? In the context of breach of fiduciary duty, is Jack liable as well? Does ethics issue involve? Please state your reasons. Mr. Hunt, who has just retired, set up an…

pls help

1.What is risk management information system? Identify its benefits. 2.Explain the legal distinction between an agent and a broker.

rahul

Subject:

A and B clothing Company is consistently incurring losses for the past 3 years and decided to hire an independent auditor: Mr. Mohammed to review the final audit prepared by Mr. Zakariya- the senior internal auditor of the company.Based on the above scenario:1-Explatn at least 6 main points of differences of functions of Mr. Zakariya and Mr. Mohammed .2-Explain the benefits of internal audit to R and V clothing company. An independent, objective assurance and consulting activity designed to add value and improve both operations.

1. What is the difference between executed and executory consideration?

Use the following information for the next four questions: On Jan. 1, 20x1, Red Co. acquires P500,000 face amount, 10%, bonds of Ball Co. for P487,656. Red Co. incurred transaction costs equal to 5% of the face amount of the bonds. The bonds mature on Dec. 31, 20x3 and pay annual interest every Dec. 31. The bonds were quoted at 102 and 104 on Dec. 31, 20x1 and Dec. 31, 20x2. respectively.

1.1) Differentiate between the different types of partnerships. In your answer:• identify the types of partnership• explain the characteristics of that particular partnership• explain the liability of each of the partners with respect to the type ofpartnership 1.2) Judy is a shareholder in Pat-X Ltd. She believes that she can use the sharecertificate to make a payment. She wants to exchange the certificate for apair of shoes. The last time she checked the shares were valued at a R1000and she figures she could put them to good use. Can she do so? Discuss withreference to the nature of a share certificate.

Pls help ASAP

What is thin capitalization rules?

A Delaware LLC wanted to acquire a 300,000 square foot class “A” office building in Philadelphia for $150 per square foot that was 77% leased. Wells Fargo agreed to fund a purchase money mortgage loan with a maximum LTV of 60%. What is the minimum amount of equity that would be needed to close the acquisition? a. $45,000,000 b. $9,000,000 c. $18,000,000 d. $27,000,000

What would be the result of a PESTEL analysis for BAE? What factors would be included?

Dave borrowed $700 on January 1, 2022. The bank charged him a $9.00 service charge, and interest was $49.10. If Dave paid the $700 in 12 equal monthly payments, what was the APR?

27. William has a bakery with total assets of P4,000,000 inclusive of a lot with a book value of P1,200,000. Gross income from sales of bread P300,000 Interest on promissory notes of retail store clients 12,000 Royalties on sale of recipe books 36,000 Dividend income from domestic stocks 10,000 Note that William's total asset i s P2,800,000, excluding the lot. Hence, William's business qualifies as a BMBE. If William obtained a certificate of authority to operate as a BMBE, the following items of operating income are exempt from income tax а. Р 300,000 О Б.Р346,000 О с. Р312,000 O d. P 358,000