Question: Suppose that France and Germany both have 100 units each of capital and labor, and that they share the same CRS technology with which they produce wine and cheese. However, tastes differ in the two countries: c ...
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Question - Assume the following is the stockholders' equity section of the 2016 Merck & Co., Inc., balance sheet. Stockholders' Equity ($ millions 2016 Common stock, one cent par value; Authorized-5,400,000,000 shares; I ...
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Question - On January 1, 2017, Palka, Inc., acquired 70 percent of the outstanding shares of Sellinger Company for $1,479,800 in cash. The price paid was proportionate to Sellinger's total fair value, although at the acq ...
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Question - Asset acquisition vs. stock purchase (fair value is greater than book value) Assume the investor purchases the same assets in #24, but now assume that the cash purchase price is $21,000. The investor is willin ...
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Question - ABC Company manufactures a single product and provides the following budget information for the 2017/18 financial year: Expected Sales and Production (units) 10,000 Sales Price per unit 75,000 Variable Cost pe ...
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Question - A summary of labor costs and associated deductions for the month of July follows: Gross PAYG Tax Super Medical Fund Direct labour 40,000 12,000 2,000 200 Indirect labour 8,000 2,400 400 40 48,000 14,400 2, ...
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Question - Weston Company has these data at December 31, 2017, the end of its first year of operations. Securities Cost Fair Value Trading $110,000 $122,000 Available-for-sale100,000 96,000 The available-for-sale securit ...
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Question - During 2017, Crimson Inc. purchased $2,775,000 of inventory. The cost of goods sold for 2017 was $2,635,938 and the ending inventory at December 31, 2017 was $544,688. What was the inventory turnover for 2017?
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Question: In each of the following scenarios, prepare journal entries, as necessary, or give proper accounting recognition. For each, tell why you made an entry or accounting recognition or why you did not. 1. Identify t ...
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Accounting Question - A comparative balance sheet for Halper Corporation appears on the next page, and the statement of cash flows form follows. Explain below, why you must convert from an accrual basis of accounting to ...
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