ADVACC Week Four IND

ADVACC Week Four IND - Q4­1 An eliminating entry will need...

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Unformatted text preview: Q4­1 An eliminating entry will need to be recorded every time consolidated FS are prepared were as adjuting entries are carried forward. Q4­3 Negative goodwill is a gain accrued when the price paid for an acquisition is less than the fair value of its net assets It is reported as an extraordianry item. Q4­11 The purchase differential is the defference between comparable classes, entities and items. That change in quality a e fair value of its net assets. ems. That change in quality and quantity and at different rates . It is important to consolidate these items because they are elim items because they are eliminted from retained earnings. A. B. C. D. E. F. 567000 70% 128000 448000 457000 Common Stock Timmin co. R/E 170000 Diff 83000 Investment 457000 Inventory 28000 Land 17000 B&E 38000 Diff 83000 300000 ...
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ADVACC Week Four IND - Q4­1 An eliminating entry will need...

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