Entries by John

Complete a worksheet for consolidated financial statements for 2016. Include columns for eliminations and adjustments, consolidated income, NCI, controlling retained earnings, and consolidated balance sheet.

June 24, 2019 in /by

Problem 3-3 (LO 4) Sophisticated equity method adjustments, consolidated worksheet. (This is the same as Problem 3-2, except that the sophisticated equity method is used.) On January 1, 2015, Paro Company purchases 80% of the common stock of Solar Company for $320,000. On this date, Solar has common stock, other paid-in capital in excess of […]

Compare the new alternative (Cloud-Integrated Communications System) with the previously selected one (in the 2nd question) under the new conditions (including salvage values and for nine years).

June 24, 2019 in /by

Middle East Technical University (METU) is currently using a Voice over IP (VoIP) phone system that was installed in 2007. The system is owned by Aftermath and is jointly managed by the METU telecommunications staff and Aftermath. The university staff is responsible for the day-to-day management, while Aftermath is responsible for the hardware and software […]

Using the same forecast as in requirement 1 construct Manny’s budget for raw materials purchases in June and the total for the 2nd quarter (You will also have to complete the budget for May) Complete the template provided which already has information for April and May.

June 24, 2019 in /by

Manny Fold owns a factory that specializes in making titanium valves for high performance engines on a just in time basis. Thus, Manny produces what he sells in a particular month. There are no inventories of finished goods or work in process. However, Manny does require that an inventory of                direct raw materials equal to 20% of […]

What journal entries explain the change in the total inventory accounts in 2009? You may assume that all labor and raw material purchases are paid in cash, all overhead is depreciation and there is no obsolescence. The inputs into work-in process are 60% raw materials, 25% overhead and 15% labor.

June 24, 2019 in /by

What journal entries explain the change in the total inventory accounts in 2009? You may assume that all labor and raw material purchases are paid in cash, all overhead is depreciation and there is no obsolescence. The inputs into work-in process are 60% raw materials, 25% overhead and 15% labor. BALANCE SHEETS At March 31, […]