ACC646_wordcom_financial_analysis

Please give me answer general accounting question

Refer to the following data of SG Company: Assets to be realized1,375,000Liabilities liquidated1,875,000Assets acquired825,000Liabilities not liquidated1,700,000Assets realized1,200,000Liabilities to be liquidated2,250,000Assets not realized1,375,000Supplementary charges3,125,000Liabilities assumed1,625,000Supplementary credits2,800,000Compute the beginning cash balance assuming that the ending balance of ordinary share and retained earnings are P1,200,000 and (400,000), respectively.

Pure Company purchased 70% of the ordinary shares of Gold Company on January 1, Year 6, for $484,800 when the latter company's accumulated depreciation, ordinary shares, and retained earnings were $76,000, $500,000 and $41,600, respectively. Non-controlling interest was valued at $196,900 by an independent business valuator at the date of acquisition. On this date, an appraisal of the assets of Gold disclosed the following differences: Land Plant and equipment Inventory Land Plant and equipment Less accumulated depreciation The plant and equipment had an estimated life of 20 years on this date. The statements of financial position of Pure and Gold, prepared on December 31, Year 11, follow: Carrying amount $ 161, 000 708, 000 134, 000 Patent (net of amortization) Investment in Gold Co. shares (equity method) Investment in Gold Co. bonds Inventory Accounts receivable Cash Ordinary shares Retained earnings Bonds payable (due Year 20) Accounts payable Fair value $ 212, 000 783, 000 117,000…

Vaughn Manufacturing Balance Sheet December 31, 2021   Assets   Equities Cash $ 302000   Accounts payable $ 640000 Accounts receivable (net) 1942000   Income taxes payable 185000 Inventories 2451000   Miscellaneous accrued payables 230000 Plant and equipment,     Bonds payable (8%, due 2023) 1850000   net of depreciation 1984000   Preferred stock ($100 par, 6%   Patents 262000     cumulative nonparticipating) 752000 Other intangible assets 75200   Common stock (no par, 60,000       Total Assets $7016200     shares authorized, issued               and outstanding) 1122000           Retained earnings 2466200           Treasury stock-1500 shares               of preferred (229000)               Total Equities $7016200   Vaughn Manufacturing Income Statement Year Ended December 31, 2021       Net…

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Current assets Property, plant and equipment Intangible assets Goodwill Total assets Current liabilities Noncurrent liabilities Total liabilities Capital stock Retained earnings Treasury stock Accumulated other comprehensive loss Total equity Total liabilities and equity Required Note: Provide all answers in millions. Fair Book Value Value $1.973 $1,912 1.087 563 764 8,083 3.948 1998 827 1.891 2.559 2.889 1.712 1,317 (1.946) (29) €76 ES 7501 a. Prepare IBM's journal entry or entries to record the stock acquisition on its own books. To record the acquisition Debit Credit 0 0 0 0X b. Prepare consolidation working paper eliminating entries (E) and (R) to consolidate the accounts of IBM and Red Hat at the date of acquisition. (E) Debit Credit 0 0 0 0 M 0 To eliminate Red Hat's equity accounts against investment account (R) 0 0% 0 0% 0 0 M 0 0x 0 0 0 0* 0 0% To revalue Bay's assets and liabilities to fair value Check

5. PSA Inc. prepared a draft of its 2021 Statement of Financial Position. The draft statement reported total assets of P4.375,000. The total assets included the following items.             Treasury shares of PSA Inc. at cost, which approximates market value                         on December 31                                                         P120,000             Unamortized patent                                                                    56,000             Cash surrender value of life insurance                                       68,500             Cumulative translation loss                                                         42,000 At what amount should total assets be correctly reported in the December 31,2010 Statement of Financial Position?

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Question The financial statements of Harry Ltd and its subsidiary Olivia Ltd have been extracted from their financial records at 30 June 2023 and are presented below.     Harry Ltd$    Olivia Ltd$Sales    839 250    725 000Cost of goods sold    (580 000)    (297 500)Gross profit    259 250    427 500Dividends received    116 250    -Management fee revenue    33 125    Gain on sale of plant    43 750    Less Expenses        Administration     (38 500)    (48 375)Depreciation    (30 625)    (71 000)Management fee    -    (33 125)Other expenses    (126 375)    (96 250)Profit before tax    256 875    178 750Tax expense    (76 875)    (52 750)Profit after tax    180 000    126 000Retained earnings 1 July 2022    399 250    299 000    579 250    425 000Dividends paid    (171 750)    (116 250)Retained earnings 30 June 2023    407 500    308 750  Statement of financial position    Harry Ltd$    Olivia Ltd$Shareholders’ equity        Retained earnings    407 500    308 750Share capital    437…

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Orbit Limited Statement of Financial Position as at 31 December: 2022 2021 R R ASSETS Non-current assets 11 810 000 7 560 000 Property, plant and equipment 10 025 000 6 250 000 Investments 1 785 000 1 310 000 Current assets 4 190 000 4 690 000 Inventories 1 875 000 2 350 000 Accounts receivable 1 925 000 2 200 000 Cash 390 000 140 000 Total assets 16 000 000 12 250 000 EQUITY AND LIABILITIES Equity ? ? Ordinary share capital 5 480 000 3 680 000 Retained earnings ? ? Non-current liabilities 4 500 000 3 800 000 Loan (20% p.a.) 4 500 000 3 800 000 Current liabilities 2 300 000 1 500 000 Accounts payable 2 300 000 1 500 000   Total equity and liabilities 16 000 000 12 250 000   Statement of Comprehensive Income for the year ended 31 December: 2022 2021 R R Sales 10 800 000 7 150 000 Cost of sales (6 000 000) (3 650 000) Gross profit 4 800 000 3 500 000 Operating expenses (1 800 000) (1 200 000) Depreciation 580 000 200 000…

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Financial Accounting Question please answer

(in millions of euros) Operating activities Note Year ended December 31, 2019 2018 EBIT 4 1,381 1,182 Adjustments 21 779 432 Content investments, net (676) (137) Gross cash provided by operating activities before income tax paid 1,484 1,477 Other changes in net working capital 67 (28) Net cash provided by operating activities before income tax paid 1,551 1,449 Income tax (paid)/received, net 6.2 (283) (262) Net cash provided by operating activities 1,268 1,187 Investing activities Capital expenditures 3 (413) (351)

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ok it nces Inventory Building Land Total FMV $ 28,000 210,000 322,000 $560,000 The corporation also assumed a mortgage of $100,000 attached to the building and land. The fair market valu corporation's stock received in the exchange was $460,000. The transaction met the requirements to be tax-c under $351. (Negative amount should be indicated by a minus sign. Leave no answer blank. Enter zero if op Adjusted basis Adjusted Basis $ 14,000 140,000 420,000 $574,000 Assume the corporation assumed a mortgage of $660,000 attached to the building and land. Assume the fair market building is now $350,000 and the fair market value of the land is $742,000. The fair market value of the stock remain g. What is the corporation's adjusted basis in each of the assets received in the exchange? (Do not round intermedial Inventory Building Land

What is the net book value of asset

16 All the issued and outstanding common stock of MOA Company were brought by Aura Company on October 1, 2020 for P700,000. The assets and liabilities of Aura Company were:   Cash 50,000 Accounts receivable (net of P25,000 allowance for bad debts) 250,000 Inventory 150,000 Property & Equipment (net of P100,000, allowance for depreciation) 300,000 Accounts payable 130,000   On October 1, 2020 the fair value of the following assets was as follows: Accounts receivable (net) 235,000   Inventory 130,000   Property & equipment (net) 400,000     There is an unrecorded warranty liability on prior-product sales estimated P20,000 discounted cash flow based on estimated future cash flows.   The amount of goodwill as a result of the business combination should be: Group of answer choices 65,000 100,000 35,000 Zero

What amount of income will Pinta record during 20y4 under the cost method of accounting?   A.12,800 B. 9,200 C. 15,600 D. 3,600