Test bank of Advanced Accounting by Guerrero & Peralta CHAPTER 3
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The other comprehensive income is then accumulated and reported in the stockholders’ equity section of the consolidated balance sheet as presented below:.. Net assets
(3) To eliminate intercompany gain on sale of equipment debited to Investment account and restore equipment to its original book value. Working Paper Elimination Entries –
(2) Reconciliation of Home Office and Investment in
Schedule of Allocation of Cost of Goods Sold Year Ended December 31, 2008. On Cash Ratio to
Since the Company has a reorganization value of P800,000 but only P653,000 can be assigned to specific assets based on market value, the remaining P147,000 is reported as
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200 To correct capital accounts for error in loss allocation computed as follows:. Alvin Benny
1,200 Accumulated Depreciation – Furniture and Fixtures ..... To have a goodwill, the only possible base is the capital
