Schedule 91. Just Beet It owns 65% of You Make My Heart Beet, as well as 10% of the shares of Tunip ForWhat. You Make My Heart Beet owns 35% of the shares of Turnip For What Mr. Beet, whoowns all of theshares of Just Beet It, also owns 5% of the shares of Turnip For What and hasoptions in thoseshares that would, if exercised, increase his ownership by another 10%. Mr.Beet's 12-year old sonowns 15% of the Turnip For What shares. Indicate which one of thesecompanies are associatedand why.

Associate company: It is the company that is owned in part by another company. Another company…

Schedule 9 1. Just Beet It owns 65% of You Make My Heart Beet, as well as 10% of the shares of Tumip For What. You Make My Heart Beet owns 35% of the shares of Tumip For What Mr. Beet, who owns all of theshares of Just Beet It, also owns 5% of the shares of Tumip For What and has options in thoseshares that would, if exercised, increase his ownership by another 10%. Mr. Beet's 12-year old sonowns 15% of the Turnip For What shares. Indicate which one of these companies are associatedand why.

Schedule 9 1. Just Beet It owns 65% of You Make My Heart Beet, as well as 10% of the shares of Tumip For What. You Make My Heart Beet owns 35% of the shares of Tumip For What Mr. Beet, who owns all of theshares of Just Beet It, also owns 5% of the shares of Tumip For What and has options in thoseshares that would, if exercised, increase his ownership by another 10%. Mr. Beet's 12-year old sonowns 15% of the Turnip For What shares. Indicate which one of these companies are associatedand why.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Darlene owns 90 shares of stock with basis of $5400at $60 per share . If the stock splits three for one,how many shares will Penny own,and what will be the amount of hervnew basis per share?
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ABC Corporation operates hotels and restaurants in the central business district of Makati City. It is aiming to acquire XYZ Inc. another corporation in Pampanga. This corporation runs small hostels. ABC offers to acquire XYZ by offering 100,000 ABC ordinary shares valued at P12,000,000. 1. Kind according to purpose (Choose 1) a. Horizontalb. Verticalc. Product Extentiond. Market Extensione. Congenericf. Conglomerate 2. Kind according to approach to the target firm (Choose 1)a. Friendlyb. Hostile 3. Kind according to acquisition mode (Choose 1) a. Cashb. Equity swapc. Mix of cash and equity swap
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Question 3 Happy Berhad owns 40% interest in the equity capital of Merry Berhad. During the year ended 31 December 2021, intercompany sales of goods with the associate totalled RM5 million. At year-end, stocks attributable to RM1 million intercompany sales were held by the buyer. The gross profit margin to the seller was 50% on selling price. Assume an income tax rate of 28% and that full tax effect accounting applies. Required: In respect of the above intercompany sales of goods, show the consolidation adjustments required if: a. The transactions were downstream sales (investor to associate) and b. The transactions were upstream sales (associate to investor).
Problem 10.05 Your answer is partially correct. Try again. Sheridan Incorporated management is considering investing in two alternative production systems. The systems are mutually exclusive, and the cost of the new equipment and the resulting cash flows are shown in the accompanying table. The firm uses a 8 percent discount rate for production system projects. Year System 1 System 2 -$14,800 -$46,900 1 14,800 34,900 2 14,800 34,900 14,800 34,900 Calculate NPV. (Enter negative amounts using negative sign, e.g. -45.25. Do not round discount factors. Round answers to 2 decimal places, e.g. 15.25.) 38082.31 77802.20 NPV of System 1 is $ and NPV of System 2 is $
Part B Frodo Ltd owns 35% of Pippin Ltd, with the remaining shares owned by the Baggins family. The Baggins family has more than 150 family members who do not get along with each other. Frodo Ltd also has options to buy a further 25% of Pippin Ltd, although they are not exercisable for another 4 years and Frodo Ltd does not intend to exercise the options. Currently, Frodo Ltd controls 2 out of the 5 Board of Director seats. How should Frodo Ltd account for its investment in Pippin Ltd? Justify why, with reference to the definition of control.
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