18. Cadion Co. owned a controlling interest in Knieval Inc. Cadion reported sales of $420,000
during 2013 while Knieval reported $280,000. Inventory costing $28,000 was transferred
from Knieval to Cadion (upstream) during the year for $56,000. Of this amo
Which one of the following accounts would not appear in the consolidated financial
statements at the end of the first fiscal period of the combination?
C. Investment in
E. Additional Paid-In
For business combinations involving less than 100 percent ownership, the acquirer
recognizes and measures all of the following at the acquisition date except:
A. identifiable assets acquired, at fair
B. liabilities assumed, at book
At the date of an acquisition which is not a bargain purchase, the acquisition method
A. consolidates the subsidiary's assets at fair value and the liabilities at
B. consolidates all subsidiary assets and liabilities at
Which of the following results in a decrease in the investment account when applying
the equity method?
A. Dividends paid by the
B. Net income of the
C. Net income of the
D. Unrealized gain on intra-entity inventory tr
Cost smoothing Penut-butter costing:
A costing approach that averages the costs of resources uniformly equally to cost
objects, when the cost objects dont use them equally.
In other words, we divide the c
Chapter 2 exercises:
Choose the best alternative for the following questions:
1. Which of the flowing statements is true?
A. Total fixed cost increases while total variable costs decrease when activity
B. Fixed cost per unit remains the s
Chapter 3 exercises:
Assume the following information for 1-7
Purchase price per unit by the company =$32
Other variable costs per unit =$10
Selling price =$70
Fixed costs =$84,000
1. What is the revenue if the company if they sold 2,500 units?
Resources sacrificed to achieve a specific goal and is measured in money
Cost that actually incurred in the past and is distinguished from the budget.
Anything from which cost is allocated to.
In other word,
Current Liabilities and Contingencies
ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC)
Topics 1. Concept of liabilities; definition and classification of current liabilities. Accounts and notes payable; dividends payable. Short-term obligations expec