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- Solved On January 1, 2020, P company acquires 90 percent of - Chegg
On January 1, 2020, P company acquires 90 percent of the outstanding common stock of S company, in exchange for $1,710,000 cash At the acquisition date, S company's total fair value, including the noncontrolling interest, was assessed at $1,900,000
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The 2020 operating budget was based on production of 28,000 pillows, with 0 25 machine-hours allowed per pillow Budgeted variable overhead per hour was $34 Actual production for 2020 was 26,800 pillows using 6,600 machine-hours Actual variable costs were $40 per machine-hour Calculate the following: a The budgeted variable overhead for 2020 b
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On September 1, 2020, Global Tech Inc purchased merchandise for resale for $20,000 on credit terms 2 15, n 60 using the gross method and a perpetual inventory system Global Tech incurred a shipping charge of $750 on the purchase, which was immediately paid On September 10, 2020, Global Tech paid for half of the merchandise
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On January 1, 2020, Lessee Inc leased equipment at an annual payment of $255,297 payable at the beginning of each year for 4 years The equipment had a fair value of $1,200,000, a book value of $1,125,000, and was commonly purchased or leased by customers
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In July 2019 , Scarborough 's budget department gathered the following data to prepare budgets for 2020 : 2020 Projected Sales Product Units Price Thingone 63,000 The Scarborough Corporation manufactures and sells two products: Thingone and Thingtwo
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