Question: What is transfer from BCVR? What is it used for? Is that an asset account or equity account? And could you please explain the logic

What is "transfer from BCVR"? What is it used for? Is that an asset account or equity account?

And could you please explain the logic behind these worksheet entries subsequent to the acquisition date, when an asset sold and when a contingent liability settled?

Thanks a lot!!!

Thanks

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

You are trying to value Viola Inc., a multi-divisional company and have been given the following information on the company's three divisions. In addition, you are given an estimate of centralized...

On 1 July 2021 Tommy Ltd acquired 100% interest in Hill Ltd. Consideration consisted of $500,000 cash and a share issue of 60,000 shares in Tommy Ltd. These shares were valued at a market rate of...

Hello I have unlock this solution, however I do not know how the solution is derived. For question 18.10, is there anyone to help? ACCG 926 Self Study Solutions- Topic 4 MACQUARIE UNIVERSITY MASTER...

Hi Katrina, I have another accounting problem I need your help with. It's similar to the one you did on 4/4/2016. The due date for this one will be 4/10/2016, Will you be able to help? See below...

Hello. I need this question to beanswered in a very systematic format and the correct order as stated in the attached word document. Any help will be highly appreciated. Thank you. CONSOLIDATION (20...

find attached is an Answer sheet for questionQUESTION 16.15, Page 9 - 13 AURIGA LTD PERSEUS LTD. Please, can anyone get me a clear direction or an explanation on how to get there? your great help is...

Explain in detail, using the relevant journal entries, how the following transaction affects the NCI calculation of profit for the year ended 30 June 2017 and why? Rose Ltd owns 90% of the share...

Q1-Explain how the EBIT Chart works (inputs determining the outputs-the two lines on the chart Case Leahy Bread Company (LBC) in Cohen Finance Workbook, page 111( a 'caselette') SEE THE IS/BS MODEL &...

Answer for the question is given below: 1. Net fair value of identifiable assets and liabilities of Thomas Ltd = ($130,000 + $50,000 + $40,500) (equity) + $8,000 (1 30%) (inventory) + $10,000 (1 30%)...

ASSESSMENT BRIEF Subject Code and Name ACCT6005 Company Accounting Assessment Assessment 1 Case Study - Fair Value Individual/Group Individual Length Part A Problem Solving: Practical Application and...

On April 1, 2014, Gloria Estefan Company received a condemnation award of $430,000 cash as compensation for the forced sale of the companys land and building, which stood in the path of a new state...

How much does Frances need to donate to a trust each year for 6 years to have exactly enough in the trust to be able to make scholarship payments of $10,460.00 per year forever? The first annual...

Evaluate the integral. 2 e - 9 x d x 2 e - 9 x + C - 1 4 e - 9 x + 1 + C = 1 9 e - 9 x 2 + C - 2 9 e - 9 x + C

1. On December 31, 2016, Moss Co. issued $1,000,000 of 11% bonds at 109. Each $1,000 bond was issued with 50 detachable stock warrants, each of which entitled the bondholder to purchase one share of...

List the key internal control weaknesses that were evident in the Huntington units operations.

List what you believe should have been the three to five key internal control objectives of Goodners Huntington sales office.

Lexi Belcher picked up the monthly report that Irvin Santamaria left on her desk. She smiled as her eyes went straight to the bottom line of the report and saw the favorable variance for operating...

On January 1, 2013, Datalink Inc. issued $100,000, 10%, 10-year bonds when the market rate of interest was 8%. Interest is payable on June 30 and December 31. The following financial information is...

2. Time management is important to project success what are some of the things you can do to ensure that your project is completed on time (20). 3. Briefly explain any four Agile principles (20...

1. To gain an understanding of the fact that relationships are something more than only cause and effect chains.

3. What is meant when we say that people with a Protestant character exhibit manipulative behaviour?

An improvement in the exchange of information in negotiations.