On January 1, 2011, Company P sold a machine to its 70%-owned subsidiary, Company S, for $60,000.
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 81% (11 reviews)
2011 2012 2013 Realized gai...View the full answer
Answered By
Akshay Singla
as a qualified engineering expert i am able to offer you my extensive knowledge with real solutions in regards to planning and practices in this field. i am able to assist you from the beginning of your projects, quizzes, exams, reports, etc. i provide detailed and accurate solutions.
i have solved many difficult problems and their results are extremely good and satisfactory.
i am an expert who can provide assistance in task of all topics from basic level to advance research level. i am working as a part time lecturer at university level in renowned institute. i usually design the coursework in my specified topics. i have an experience of more than 5 years in research.
i have been awarded with the state awards in doing research in the fields of science and technology.
recently i have built the prototype of a plane which is carefully made after analyzing all the laws and principles involved in flying and its function.
1. bachelor of technology in mechanical engineering from indian institute of technology (iit)
2. award of excellence in completing course in autocad, engineering drawing, report writing, etc
4.70+
48+ Reviews
56+ Question Solved
Related Book For
Advanced Accounting
ISBN: 978-0538480284
11th edition
Authors: Paul M. Fischer, William J. Tayler, Rita H. Cheng
Question Posted:
Students also viewed these Accounting questions
-
On January 1, 2015, Company P sold a machine to its 70%-owned subsidiary, Company S, for $60,000. The book value of the machine was $50,000. The machine was depreciated using the straight-line method...
-
The time value of money takes all of the following into consideration EXCEPT a. Inflation b. The number of compounding periods per year c. The total number of years d. The present value of money
-
The City Commission of Nashville has decided to build a botanical garden and picnic area in the heart of the city for the recreation of its citizens. The precedence table for all the activities...
-
For a certain company, the cost function for producing x items is C(x)=30x+100 and the revenue function for selling x items is R(x)=0.5(x70)^2+2,450 . The maximum capacity of the company is 100...
-
If two different pedestrian deaths are randomly selected, find the probability that in both cases the pedestrians were intoxicated.
-
Thaam Company Ltd. had 100 units in beginning inventory at a total cost of NT$300,000. The company purchased 200 units at a total cost of NT$680,000. At the end of the year, Thaam had 75 units in...
-
Explain how and why physician incompetency is reported.
-
The following is a true case. General Electric (GE), like many other large corporations, is scrutinized by financial analysts who develop quarterly forecast EPS figures for the company. The companies...
-
Explain what is meant by corporate governance. In September 2014, Alibaba listed on the New York Stock Exchange in what was, at the time, the largest IPO in history. Explain some of the reasons that...
-
Lance H. and Wanda B. Dean are married and live at 431 Yucca Drive, Santa Fe, NM 87501. Lance works for the convention bureau of the local Chamber of Commerce, while Wanda is employed part-time as a...
-
Subsidiary Company S is 80% owned by Company P. Company S sold a machine with a book value of $100,000 to Company P for $150,000. The asset has a 5-year life and is depreciated under the...
-
Company S is a 70%-owned subsidiary of Company P. Company S is building a ship to be used by Company P. The ship was 40% completed in 2011 and 100% completed in 2012. The actual and budgeted profit...
-
Show that neither the Ratio Test nor the Root Test provides information about the convergence of n=2 1 (Inn)P (p constant).
-
Generally accepted accounting principles encompass the conventions, rules, and procedures for determining acceptable accounting and financial reporting practices at a particular time. The GAAP is...
-
Continuing with the Juventus Pty Ltd example from Part 5: Assume that Juventus Pty Ltd quoted for jobs to install the Napoli oven using the following standard costs per Napoli oven: Standards Per...
-
Professor's Observation: One discussion post questioned accounting being developed in Italy over 500 years ago, as described in a video by Susan Crosson. The history of accounting started way before...
-
A property was bought and made for use in May 2022. The property was recorded but the depreciation was not. The useful life of the addition is 10 years with a residual value of 0, and the cost for...
-
How is an elevator meant to assist people with disabilities? Explain
-
Consider steady two-dimensional heat transfer in a long solid bar of square cross section in which heat is generated uniformly at a rate of e = 0.19 10 5 Btu/hft 3 . The cross section of the bar is...
-
Write the given system without the use of matrices. D) - ()- d (x sin t + 8 (2+ 1)
-
Company P purchases an 80% interest in Company S on January 1, 2015, for $480,000. Company S had equity of $450,000 on that date. Any excess of cost over book value was attributed to equipment with a...
-
Prior to January 2, 2018, Prestar and Saturn are separate corporations. Saturn Corporation is contemplating a major expansion and seeks to be purchased by a larger corporation with available cash....
-
Baker Corporation purchases a 60% interest in Hardee Company on January 1, 2015, for $135,000. On that date, Hardee Company has the following stockholders' equity: Common stock ($10 par). . . . . . ....
-
Suppose a, b, and c are int variables and a = 5 and b = 6. What value is assigned to each variable after each statement executes? If a variable is undefined at a particular statement, report UND...
-
In terms of hydrogen ion concentration, how much more acidic is a solution with a pH of 4.0 than a solution with a pH of 5.5? Round your answer to the nearest tenth. Show Recall that pH, p(x), is...
-
The following was submitted under the original assignment of "write small program that uses dynamic binding".. now what is requested is to suggest another way to take advantage of the dynamic biding...
Study smarter with the SolutionInn App