Questions from Corporate Finance


Q: Use the information in E11-13, part (a)

Use the information in E11-13, part (a) to prepare the required footnote disclosure for Kurtis Koal Company, Inc.’s property, plant, and equipment for Years 1 and 2, including a sta...

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Q: IFRS. Use the information in E11-14, part (

IFRS. Use the information in E11-14, part (a) to prepare the required footnote disclosure under IFRS for Kurtis Koal Company, Inc.’s property, plant, and equipment for Years 1 and 2, including a state...

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Q: On January 2, 2019, Bubba and Company paid $5

On January 2, 2019, Bubba and Company paid $5,000,000 in cash to acquire 100% of the Cire Company’s voting common stock. Cire’s balance sheet on that date showed th...

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Q: During the current year, Carlson Industries, Inc. conducted significant

During the current year, Carlson Industries, Inc. conducted significant research activities related to the development of a new computer chip. Carlson had the following costs Prepare all journal entri...

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Q: IFRS. Repeat the requirements in E11-26 assuming that Carlson

IFRS. Repeat the requirements in E11-26 assuming that Carlson reports under IFRS. Assume that all the conditions to capitalize development costs have been met and the project is completed on January 1...

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Q: Alto Devices acquires Medifast, a small start-up company,

Alto Devices acquires Medifast, a small start-up company, by paying $2,170,000 in cash on January 2. Following are the book values and fair values of Medifast on the date of acquisition. Required: a...

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Q: On January 2, 2018, Temptations Corporation paid $31,

On January 2, 2018, Temptations Corporation paid $31,500 in cash and exchanged a chocolate mixing machine, which had a fair value of $437,500 and a book value of $500,000 ($1,135,000 historical cost −...

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Q: Assume that Rascals Candy, Inc. reports under IFRS. Repeat

Assume that Rascals Candy, Inc. reports under IFRS. Repeat the requirement of E11-29, part (c). Data from E11-29: a. Record the journal entry on the books of Temptations Corporation to record the exch...

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Q: Assume that Sebastian Company from E11-38 reports under IFRS.

Assume that Sebastian Company from E11-38 reports under IFRS. Prepare the journal entry to record the exchange on the books of Sebastian Company. Data from E11-38: Brown Company contracts with Sebast...

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Q: You are an intern with First Bank, and have been asked

You are an intern with First Bank, and have been asked to develop estimates for yield spreads that would be appropriate for corporate bonds or loans with different maturities and credit ratings. To ge...

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