During 2011 (its firs year of operations) and 2012, Batali Foods used the FIFO inventory
costing method for both financial reporting and tax purposes. At the beginning of
2013, Batali decided to change to the average method for both financial reporting
The following data relate to Voltaire Company's defined benefit pension plan:
Plan assets at fair value, January 1
Expected return on plan assets
Actual return on plan assets
Contribution to the pension fund (end of year)
Amortization of net loss
In preparation for developing its statement of cash flows for the year ended
December 31, 2013, Millennium Solutions, Inc, collected the following information
($ in millions).
Payment for the early extinguiehments of
long-term notes (book value:$50 millio
Issuance of shares; noncash consideration
During its first year of operations, Eastern Data Links Corporation entered into the
following transactions relating to shareholders' equity. The articles of incorporation
authorized the issue of 8 million common
On January 1, 2013, VKI Corporation awarded 12 million of its $1 par common shares
to key personnel, subject to forfeiture if employment is terminated within three years.
On the grant date, the shares have a market price of $2.50 per share.
Ayers Services acquired an asset for $80 million in 2013. The asset is depreciated for
finanical reporting purposes over four years on a straight-line basis (no residual value(.
For tax purposes the asset's cost is depreciated by MACRS. The enacted tax ra