On january 2 of the current year, otto co. purchased 40% of penn co.’s outstanding common stock. the carrying amount of penn’s depreciable assets was $1,000,000 on january 2. penn’s depreciable assets had an original useful life of 10 years, and a remaining useful life of five years. otto recognized $8,000 amortization for the current year ending december 31 related to its investment in penn due to the excess of fair value over book value on these assets. what was the fair value of penn's depreciable assets on january 2 of the current year?
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Business, 21.06.2019 20:30
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Answers: 2
Business, 22.06.2019 06:40
As a finance manager at allsports communication, charlie worries about the firm's borrowing requirements for the upcoming year. he knows the benefit of estimating allsports' cash disbursements and short-term investment expectations. facing these concerns, a(n) would provide charlie with valuable information by providing a good estimation of whether the firm will need to do short-term borrowing. capital budget cash budget operating budget line item budget
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Business, 22.06.2019 19:10
The stock of grommet corporation, a u.s. company, is publicly traded, with no single shareholder owning more than 5 percent of its outstanding stock. grommet owns 95 percent of the outstanding stock of staple inc., also a u.s. company. staple owns 100 percent of the outstanding stock of clip corporation, a canadian company. grommet and clip each own 50 percent of the outstanding stock of fastener inc., a u.s. company. grommet and staple each own 50 percent of the outstanding stock of binder corporation, a u.s. company. which of these corporations form an affiliated group eligible to file a consolidated tax return?
Answers: 3
On january 2 of the current year, otto co. purchased 40% of penn co.’s outstanding common stock. the...
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