Which of the following statements is most correct?

Q: How should negative goodwill be shown on the consolidated financial statements of the acquirer? Grou...

A: Introduction:- Negative goodwill arises, where one company (Acquirer company) purchases or acquires ...

Q: Parent Company acquired Subsidiary Company in two stages: • In 2017, Parent acquired a 30% equity in...

A: Goodwill is an intangible asset which is reported under the fixed assets on the balance sheet of the...

Q: On August 1, Vermillion Ltd. accepted a $27,800 note from Borges Ltd. in settlement of an account re...

A: Interest accrued = Face value of notes  x rate of interest x no. of months / 12 months

Q: How much is the adjustment in goodwill as a result of the measurement period adjustment during 2021?

A: The acquirer will adjust the amount of goodwill in the provisional amount in that reporting period w...

Q: Bulldogs Inc. sells on term 3/20, net 40. Total sale for the year are P1,200,000 on which 40% is cas...

A: Average amount of account Receivable = Days of sales outstanding x Sales / 360 Days of Sales Outstan...

Q: Most home insurance policies cover jewellery and silverware for a limited amount unless items are co...

A: Amount not covered=Stolen Worth-Total Claim

Q: On April 15, 2019, Powell Inc. obtained a six-month working capital loan from its bank. The face amo...

A: Loan proceeds = Face value of the Notes - discount amount where, discount amount = Face value of the...

Q: Slosh Cleaning Corporation services both residential and commercial customers. Slosh expects the fol...

A: Answer) Calculation of Total Sales revenue required to earn desired profit Total Sales Revenue to ea...

Q: When a company uses the the effective-interest method to amortize a bond discount amortization, the ...

A: As per effective interest method, there are two ways of recognizing the interest expense. first the ...

Q: Jas 2,500 city paid a 500,000 ca: activities affected sha December 31, 2013, th Dos

A: In balance sheet , total of shareholder equity and liabilities should be equal to total assets.

Q: c. Stephanie reported $18,000 of earnings from her babysitting. Standard deduction

A: Solution:- Given, Stephanie is 12 years old and often assists neighbors on weekends by babysitting t...

Q: A fre wiped out Paine Paper Company's Inventory The insurance company will accept an estenate using ...

A: calculation of cost of ending inventory using retail method Particulars Cost Retail  Beginning ...

Q: During 2022, Emerald Inc. decided to change from FIFO method of inventory valuation to the weighted ...

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

Q: NEKO Inc. sells on term 3/20, net 40. Total sale for the year are P1,200,000 on which 40% is cash sa...

A: Calculation of days of sales outstanding   = 30% x 20 = 6 days    Calculation of credit sales = Tot...

Q: The sales and cost data for two companies in the transportation industry are as follows:     X Com...

A: The margin of safety is defined as the difference between the expected profit and the break-even poi...

Q: pany discovered a computational error of P150,000 in the calculation of the December 31, 2021 invent...

A: Retained earnings refers to the amount which company remained from profit after paying all the divid...

Q: anther Inc common stock is selling for $58.77 per share. The company pays a constant annual ividend ...

A: Solution:  Dividend is the amount of profits  that is paid by the company to its shareholders. In th...

Q: On January 1, 2020, Blue Company purchased P500,000 8% bonds for P475,126 (including broker’s commis...

A: Given as, Face value 500000 Coupon rate 8% Issue price 475126 Life of bond 3...

Q: Calculate the total Product costs and Period costs Given that (amount in EGP) : Direct manufacturing...

A: Product Costs: Product Costs mean the direct costs incurred for the production of a product. Product...

Q: The following data were accumulated for use in reconciling the bank account of Nakajima Co. for July...

A: A bank reconciliation report is a statement of banking and business transactions that reconciles a c...

Q: Which of the following about gross profit variance analysis is most correct? * Gross profit variance...

A: A gross profit analysis involves comparing the gross profit for the period being reviewed to either ...

Q: The value of a correlation is reported to be r = 0.25. How is this interpreted?

A: Correlation: In the financial and investing sectors, correlation is a statistic that indicates the d...

Q: At December 31, 20x5 and 20x4, Rose Corp. had 180,000 shares of common stock and 10,000 shares of 6%...

A: Earnings per share refers to the amount of Net income allocated to every single shares issued and ou...

Q: what is the annual interest rate cost (Use 360-day year)?

A: If the firm foregoes the cash discount offered then they would be paying higher for the goods. This ...

Q: P Company issues Php500,000 shares of its own Php10 par common stock for the net assets of S Company...

A: In  case one company overtake the assets and liabilities of another company , then accounting for am...

Q: average total assets 305,000 turnover 4.0 What is total sales

A: Total assets = 305,000 Asset turnover ratio = 4.0

Q: On January 1, 2021, Red Flash Photography had the following balances: Cash, $25,000; Supplies, $9,30...

A:

Q: NightWoundsTime Brewing Co. distributes its products in an aluminum keg. Customers are charged a dep...

A: Adjusting journal entry: At year-end when the company finalizes its accounts then any unrecognized i...

Q: Don Adams Breweries is considering an expansion project with an investment of P1,500,000. The equipm...

A: Solution: Initial investment = P1,500,000 Annual cash inflows = P450,000 Period = 5 Years

Q: Why do you think it is important to know the origin of accounting? 2. In your own understanding, wh...

A: Accounting is the process in which transactions of the business are recorded and in the end result o...

Q: COBLEM 14–18 Common-Size Statements and Financial Ratios for a Loan Application LO14–1, 14-2, LO14–3...

A: (a)                                                    Sabin Electronics                            ...

Q: Pledged Assets : Plant, property, and equipment (PPE) Merchandise inventory Free assets Total assets...

A: Estimated recovery value is also written as ERV. It is the amount which is to be recovered by realis...

Q: On February 28, 2022, P Corp. purchased 80% of S Co.’s P10 par ordinary shares for P986,000.  On thi...

A: Solution Non-controlling asset is an ownership position wherein a shareholder owns less than 50% of ...

Q: A partnership began its first year of operations with the following capital balances: Young, Capita...

A: Profit and Loss Appropriation Account is a nominal account prepared for the purpose of distributing ...

Q: Naughty Co. has a 12% note receivable dated June 30, 2009 in the original amount of P3,000,000. Paym...

A: Interest accrued on June 30, 2011 = Net Note receivable amount x rate of interest x no. of months in...

Q: If Bulldogs' current liabilities are P1,300,000, the firm's * Bulldogs Inc. has the following curren...

A: Acid test ratio and current ratios are liquidity ratios. They are used to determine a company’s abil...

Q: Bryant Inc. and Rizzo Co. have an exchange that lacks commercial substance. The asset given up by Br...

A: An asset is a monetary resource that an individual, corporation, or government owns or controls in t...

Q: Bulldogs Inc. loaned a certain amount from a reputable bank for a term of one year at 8% quoted rate...

A: Calculation of Effective rate of interest  EIR = Interest / usable fund x 12/12         = 33200 / 37...

Q: e the folloreing inforination JOr the Hext two questions: antract. Information on the construction i...

A:   Calculation of revenue to be recognized in 2002 POC %= Cost incurred till date/Estimated total cos...

Q: 6 A preferred stock will pay a dividend of P2.75 in the upcoming year, and every year thereafter, i...

A: Annual dividend = P2.75 Required rate of return = 10%

Q: Which of the following pairs of financial statement analysis tool will be given more emphasis by a f...

A: Trade credit and sale on account to new customers relates to short term Liquidity.  If short term Li...

Q: Spring Co. bought merchandise from All Co. with terms 2/10, n/30. Joanne Ring, the bookkeeper, forgo...

A: Given that, Spring co. purchases the merchandise. Terms of payment = 2/10, n/30 Accountant = Mel Rya...

Q: 2016 20Y5 Net income Preferred dividends Average number of common shares outstanding $4.243,200 $2,8...

A: * As per Bartle by policy, if multiple questions are asked then answer first only. Earning per share...

Q: Which of the following choices best describes reasonable conclusions that you might make about the t...

A: Current ratio = Current assets / Current liabilities Current ratio of A = 40,000/10,000 = 4 Current ...

Q: Calculate the retained earnings of P Company immediately after the combination:

A: Net assets of S company =  Total assets - total liabilities = P  8,000,000 - P 2,000,000 = P 6,000,0...

Q: Rob Rote, the president and CEO of RRR Waste Management, was recently hospitalized, suffering from e...

A: Business Ethics: Implementing proper corporate rules and procedures in the face of potentially conte...

Q: On January 02, 2021, Parent Corporation purchased 80% of SUBSIDIARY Company’s ordinary shares for P6...

A: Acquisition Date = 02.01.2021 Parent Company acquired 80% of the Subsidiary company's ordinary share...

Q: Melissa Jackson, bookkeeper for Kinko Company, cannot prepare a bank reconciliation. From the follow...

A: Bank reconciliation statement is prepared with a view to reconcile the cash balance as per cash book...

Q: Cabrera Enterprises, a company that produces and sells a single product has provided its contributio...

A: Solution: Contribution margin per unit = Contribution margin / Nos of units = $813,750 / 52500  = $1...

Q: Ron Marden and Tip Baker operate separate auto repair shops. On January 1, 2020, they decide to comb...

A: Formation of Partnership Firm: It is important to understand that a partnership business is not a di...

Stock Yields

The stock yield is otherwise known as the dividend yield. The dividend yield is an annual payment of the stock dividends to the holder of a firm’s stock. The dividend yield is a financial ratio to measure the value of dividend payout every year for the relative stock price. The yield of a stock is usually shown in a percentage that discloses the expected future earnings from stock depending on the current stock price in the future. Stock yield will change depending on the market fluctuations and in accordance with the market fluctuations, the dividends will be increased or decreased by the firm.