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Excellence in Business Communication (11th Edition)
11th Edition
ISBN: 9780133544176
Author: John V. Thill, Courtland L. Bovee
Publisher: PEARSON
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Question
Chapter 13, Problem 8LOC
Summary Introduction
To determine:
What is not included as a compulsory supplement in a formal report?
Introduction:
The supplements include appendixes, index, and bibliography.
Expert Solution & Answer
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Chapter 13 Solutions
Excellence in Business Communication (11th Edition)
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- Wilson owned equipment with an estimated life of 10 years when the equipment was acquired for an original cost of $80,000. The equipment had a book value of $50,000 at January 1, 2023. On January 1, 2023, Wilson realized that the useful life of the equipment was longer than originally anticipated, at ten remaining years. On April 1, 2023, Simon Company, a 90% owned subsidiary of Wilson Company, bought the equipment from Wilson for $68,250 and for depreciation purposes used the estimated remaining life as of that date. The following data are available pertaining to Simon's income and dividends declared: 2023 2024 2025 Net income $ 100,000 $ 120,000 $ 130,000 Dividends declared 40,000 50,000 60,000 Assuming there are no excess amortizations associated with the consolidation, and no other intra-entity asset transfers, compute Wilson’s share of income from Simon for consolidation for 2025. Multiple Choice $117,000 $118,825 $115,000 $118,800…arrow_forwardWhat is the amount of Everett's claims of this financial accounting question?arrow_forwardi need correct solution this question general accountingarrow_forward
- Can you help me with accounting questionsarrow_forwardOn January 1, 2023, Smeder Company, an 80% owned subsidiary of Collins, Incorporated, transferred equipment with a 10-year life (six of which remain with no salvage value) to Collins in exchange for $84,000 cash. At the date of transfer, Smeder’s records carried the equipment at a cost of $120,000 less accumulated depreciation of $48,000. Straight-line depreciation is used. Smeder reported net income of $28,000 and $32,000 for 2023 and 2024, respectively. All net income effects of the intra-entity transfer are attributed to the seller for consolidation purposes. Assuming there are no excess amortizations associated with the consolidation, and no other intra-entity asset transfers, what amount of this gain should be recognized for consolidation purposes for 2023? Multiple Choice $1,200 $12,000 $9,600 $8,400 $2,000arrow_forwardStep by step answerarrow_forward
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