If a company has non-current assets worth 921, current labilies worth 598, longterm liabitities worth 253, and an equity value of 233, what is the company's current assets?

Q: On January 1, 20x1, Puno Inc. acquired 80% interest in Dong Company. During 20x2, Puno and Dong repo...

A: Business combination refers to the agreement or contract between two companies, acquirer and acquire...

Q: What is the purpose of the valuation allowance?

A: purpose of the valuation allowance are as follows

Q: Rafael sold an asset to Jamal. What is Rafael's amount realized on the sale in each of the following...

A: Rafael's amount realized on the sale will be equal to Cash & fair value of assets minus obligati...

Q: Assess and identify the parent/acquirer that will direct the relevant activities of theinvestee Zeu...

A: Here given the details of the identification of parent and acquirer for the given transaction which ...

Q: Sylvestor Systems borrows $70,000 cash on May 15 by signing a 90-day, 5%, $70,000 note. 1. On what d...

A: Notes payable are the written agreement in which maker of the note promises to pay a certain amount ...

Q: ABC Company on March 1 acquired 8,000 shares of XYZ Company at a price of $165,000 paid per cash. Ea...

A: A consolidated balance sheet is a statement that shows the financial position of a parent company on...

Q: Syariqul Haq is trying to save up for a big vacation. He plans to take a trip around Japan when he g...

A: The correct answer for the above mentioned is given in the following steps for your reference. 

Q: The graph below shows monthly data collected on facilities maintenance department costs and on the n...

A: Total cost consists of fixed cost and variable cost.  Fixed cost is the cost which remains same at a...

Q: Nicole organized a new corporation. The corporation began business on April 1 of year 1. She made th...

A: Note: Expenses incurred before the beginning of the business are considered start-up costs and organ...

Q: Proportional method Eamination method Appreciation (RC-Cost) Cost Replacement Cost Equipment Accumul...

A: The question pertains to revaluation of the asset. IAS 16 pertains to revaluation of asset. The IAS ...

Q: Preparing the Statement of Cash Flows Balance sheet information for Beckwith Products Company is pr...

A: The cash flow statement is one of the financial statements of the business, which records the cash f...

Q: The balance in the supplies account on June 1 was $5230, supplies purchased during June were $3480, ...

A: Formula: Supplies expense = Beginning supplies + Supplies purchased - Ending Supplies

Q: Social Security tax =

A: Tax refers to the amount charged by the government on individuals, partnership firms, HUF’s or any c...

Q: . Entity A leases computer equipment to customers under direct-financing leases. The equipment has n...

A: A lease is an arrangement where a lessor agrees to allow a lessee to control the use of the asset fo...

Q: a to and Jacob I loss in the

A: The record of the withdrawal is given as,

Q: Units-of-Production Method A machine is purchased January 1 at a cost of $59,000. It is expected to ...

A: Rate of depreciation per unit Cost of the machine - salvage value / expected number of units that ca...

Q: You have been provided with the end of year, unadjusted trial balance for City Movers LTD and  a lis...

A: Journal entry - It refers to the process where the business transactions are recorded in the books o...

Q: Which of the following is NOT a characteristic of a partnership?

A: Partnership is an agreement by which two or more person comes together to do business and the profit...

Q: At the beginning of Year 1, Copeland Drugstore purchased a new computer system for $170,000. It is e...

A: Depreciation is permanent fall or decline in value of tangible fixed asset, attributing to wear and ...

Q: The Variable Cost of Goods Sold in the Marin Company totals P325,000. Fixed selling and administrati...

A: Since you have asked multiple question, we will solve the first question for you. If you want any sp...

Q: Book Value P40,000 170,000 620,000 220,000| 60,000 (300,000) (10,000) (450,000) (350,000) Market Val...

A: On acquisition of other company all assets and liabilities shall be valued at fair market value

Q: A business purchased a machine on the Ist January 2018 at a cost of £100,000. At the time of acquisi...

A: Since you have asked multiple question, we will solve the first question for you. If you want any sp...

Q: The “fixed cost per unit function” may also be described as: a.an asymptote b.the total cost line c....

A: Introduction:- Fixed costs, also known as indirect costs or overhead costs, are corporate expenses t...

Q: Selected information from the separate and consolidated income statements of Poster Corporation and ...

A: Intercompany sales are the sales made by the head office to their subsidiaries at a lower or equal t...

Q: The table below relates to a company's factory that is split into two departments; each department c...

A: Rent per squre meter = Total rent for the year / Total area Allocation of rent =  Rent per squre met...

Q: Numbers 2-3 Janine Company factored P5,000,000 of accounts receivable. Control was surrendered by th...

A: Weighted average is a calculation that takes into account the varying degrees of importance of the n...

Q: A. Record the withdrawal of Daryl from the partnership under each of the following independent assum...

A: Since you have asked two questions under a different multi sub-parts kindly resubmit another part to...

Q: Galvanized Products is considering the purchase of a new computer system for their enterprise data m...

A: In this question firm wants to buy a new computer  system.It will require an initial investment of $...

Q: 2. Assuming a seven-year class of property, compute MACRS depreciation expense for each year of the ...

A: Business organizations are required to charge the depreciation expense so as to shown the value of a...

Q: Vaughn's assets on December 31, 2020 are $200200. O $302000. O$170600. O $259100.

A: Assets = Equipment + Cash + Supplies + Accounts Receivable

Q: In year 0, Canon purchased a machine to use in its business for $56,000. In year 3, Canon sold the m...

A: The correct answer for the above questions is given in the following steps for your reference. 

Q: Franco Enterprise uses the installment method of accounting and it has the following data at the yea...

A: Under installment sales method, only that part of sales that has been realized in cash recognized as...

Q: In times of inflation (normal), the LIFO inventory method has ……………….. compared to FIFO:     a)  H...

A: >Cost flow from units purchased to Cost of goods sold can be done using either of the 4 methods: ...

Q: 16. Given the following information, calculate the gross margin %: Retail Cost $144,900.00 $345,000....

A: Retail Inventory Method In the Retail Inventory method which given the details of the cost and retai...

Q: Assess and identify the parent/acquirer that will direct the relevant activities of the nvestee. Dia...

A: Relevant activities are those activities which will affects the investee's returns. Aquirer or inves...

Q: Overheads applied are calculated by:

A: Applied overheads are an indirect cost that is directly related to the manufacturing of products but...

Q: PLEASE DESCRIBE A FIXED TOTAL COST CONTRACT

A: There are many types of contracts such as Fixed total cost contract, cost plus contract, Item rate c...

Q: A company is planning to undertake an investment project. The following data have been calculated fo...

A: Dear student, as per Bartleby guidelines we are supposed to answer only first question with its subp...

Q: . Compute for the issue price of the bonds on January 1, 2019. 2. Compute for the bonds outstanding...

A: 1. There was no need of interest calculation. So, it's ignored.  2. Bonds are retired before maturit...

Q: Kase, an individual, purchased some property in Potomac, Maryland, for $150,000 approximately 10 yea...

A: In the United States, a like-kind exchange, also known as a 1031 exchange, is a transaction or serie...

Q: Share Repurchases.  Your company has the following Stockholders”’ Equity as of the beginning of the ...

A: If the company accounts for repurchased shares by retiring them STOCKHOLDERS' EQUITY SECTION Common...

Q: Overheads applied are calculated by: a.OAR times the estimated cost driver activity b. Budgeted pro...

A: Overhead is applied on the actual cost driver at the rate based on the estimated overhead and estima...

Q: P50,000 140,000 530,000 210,000 Cash Inventory Plant Assets (net) Cost of Goods Sold P50,000 200,000...

A: Goodwill refers to the intangible assets which is linked with the purchase of one business through a...

Q: Problem 2 (Statement of Stockholders' Equity) In its most recent financial statements, Newhouse Inc....

A: Solution..     Retained earnings at the beginning = 780  Retained earnings at the end = 810  Net inc...

Q: Book Value P60,000 130,000 580,000 200,000 40,000 (250,000) (10,000) (450,000) (300,000) What is the...

A: Fair value of net identifiable assets of XYZ Corporation = Fair value of assets - Fair value of liab...

Q: Straight-Line, Declining-Balance, and Sum-of-the-Years'-Digits Methods A light truck is purchased on...

A: The depreciation expense is charged on fixed assets as reduced value of the fixed asset with usage a...

Q: What is the minimum number of partners required for a partnership to be valid? a. No minimum b. 2 c...

A: A partnership is a legally binding agreement between two or more persons to manage and operate a bus...

Q: What distinguishes an income tax from other taxes?

A: A tax is a governmental entity's required financial charge or other kind of levy put on a taxpayer t...

Q: Question: Rooney has recently finished building a new item of plant for its own use. The item is a p...

A: IAS 16 Property plant and equipment, describes accounting treatment of property plant and equipment,...

Q: Preparation of Ratios The financial statements for Venus Industries follow: Venus Industries Cons...

A: Ratio analysis shows the analysis of financial statements in regard to the profitability, liquidity,...