Advance Accounting

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timer Asked: Jan 2nd, 2019
account_balance_wallet $35

Question description

Advance Accounting Q and A Chapter 6

Read chapter (see attachment) answer the problems listed below.

Problem numbers from attachment: 4, 6, 9, 12


Advance Accounting Q and A Chapter 7

Read chapter (see attachment) answer the problems listed below.

Problem numbers from attachment: 3, 6, 9, 12, 15, 18, 21, 24, 27

Tutor Answer

Tutorbetie
School: University of Maryland

Attached.

Running Head: Advanced Accounting Chapter 6

Advanced Accounting Chapter 6
Institutional Affiliation
Date

1

Advanced Accounting Chapter 6

2
Question 4

Answer:
As 30 percent of the subsidiary's preferred dividend.
Question 6
Net Income

45,000

Depreciation expense

10,000

Trademark amortization

15,000

Increase in Accounts receivable

(17,000)

Increase in inventory

(40,000)

Increase in accounts payable

12,000

Cash flow from operations

(20,000)
25,000

Question 9
The investment account is increased because Arcola's share of Tuscola's value has increased.
Explanation
800,000 + (10,000 shares × $25) = 1,050,000
Percentage share = 40,000 shares/50,000
Percentage share = 80%
1,050,000 × 80% = 840,000
Acquisition amount = 800,000

Advanced Accounting Chapter 6

3

Increase in investment = 840,000 -800,000 = 40,000.
Question 12
Aaron Company
Aaron net income
Less: Intr...

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Anonymous
Only issue was the guy's response time which was a bit long, which made me a bit anxious. Reached out to the help desk and they helped me out, turns out the tutors aren't all from US which meant there was a time difference. No issues on the quality.

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