Entries by Munene david

Bravo Company’s January 1, 2016 finished goods inventory was $100,000.

May 6, 2020 in /by

Bravo Company’s January 1, 2016 finished goods inventory was $100,000. The January 1, 2017 finished goods inventory is $80,000.  Cost of goods manufactured for the FY 2016 was $250,000. Use this information to determine the dollar amount of the FY 2016 cost of goods sold. (Round dollar values & enter as whole dollars only.)   Looking […]

 

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Annapolis Company purchased a $1,000, 6%, 8-year bond

May 6, 2020 in /by

Annapolis Company purchased a $1,000, 6%, 8-year bond at 95 and held it to maturity. The straight line method of amortization is used for both premiums & discounts. What is the net cash received over the life of the bond investment?  (all money received minus all money paid, round to nearest whole dollar)   Looking for […]

 

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Big Company purchased Small Company for $1,500,000

May 6, 2020 in /by

Big Company purchased Small Company for $1,500,000. Small Company had assets with a fair value $1,100,000, and liabilities with a fair value of $180,000. Use this information to determine the dollar value of goodwill? (round to nearest whole dollar)   Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code “Newclient”

 

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On January 2, 2018, All Good Company purchased 6,000 shares

May 6, 2020 in /by

On January 2, 2018, All Good Company purchased 6,000 shares of the stock of Big Bad Company, and DID NOT obtain significant influence.  The investment is intended as a long-term investment.  The stock was purchased for $19 per share, and represents a 10% ownership stake. Big Bad Company made $500,000 of net income in 2018, and paid dividends to […]

 

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