The following three entities make up an economic group as follows:

Apple Ltd purchased 60% of the shares totalling $65,000 in Banana Ltd and Banana Ltd wholly owns Cherry Ltd which was purchased for $52,000. Both investments were acquired on 1 July 2018. On this date, shareholders’ equity was valued at:

The financial statements of the entities within the group at 30 June 2020 are as follows:

Apple Ltd:

Banana Ltd:

Cherry Ltd:

The tax rate is 30%. All non-controlling interest are valued at the proportionate share of the acquiree’s identifiable net assets. Inventory on hand at 30 June 2020 included goods obtained from within the group as follows:

-Apple Ltd purchased from Banana Ltd, sale price was $10,000 and cost $7,500.

-Apple Ltd purchased from Cherry Ltd, sale price was $20,000 and cost $18,500.

-Banana Ltd purchased from Cherry Ltd, sale price was $15,000 and cost $13,800.

The directors had applied the impairment test for goodwill annually and determined that a write-down of $3,090 is required for consolidation purposes at 30 June 2020 (write-down of goodwill in Banana Ltd is $440 and write-down of goodwill in Cherry Ltd is $2,650) with the same amounts deemed to be attributable for the prior period. All debentures (including the debenture from Cherry Ltd to Banana Ltd) is due 30 June 2030.

Required:

In the space provided - show goodwill calculation

Tuxedo Company (a U.S. based company) acquired 100% of a Swiss company, Roche AG, for 8.2 million Swiss francs on December 30, Year 1.  At the date of acquisition, the exchange rate was $0.60 per franc.   The acquisition price is attributable to the flowing assets and liabilities denominated in Swiss francs:

Tuxedo Corporate prepares consolidated financial statements on December 31, Year 1.  By that date, the Swiss franc appreciated to $0.65.  Because of the year-end holidays, no transactions took place between the date of acquisition and the end of the year.  

Assignment:

1. Determine the translation adjustment to be reported on Tuxedo’s December 31, Year 1 consolidated financial statements, assuming that the Swiss franc is used to pay local wages, set sales price, and is borrowed locally.  Where would the adjustment be located in the financial statements?
   
2. Determine the translation adjustment to be reported on Tuxedo’s December 31, Year 1 consolidated financial statements, assuming that the U.S. dollar is used to pay local wages, set sales price, and there is a high volume of transactions between Tuxedo and Roche.  Where would the adjustment be located in the financial statements?

1. Explain interview methods and the areas of concern in conducting them. Give example for each method.

2. APA and MLA are the two common styles of writing your research work. Explore from website the two methods and explain why it is important to maintain these formats.

Answer both Questions

no pic or hand writing

course name : Accounting research and practice

Physical Assessment interview guide: Head, Eyes,Ears,Nose, and Throat

Why is the interview, in general, such a poor measurement device for inferring personality traits

Interview questions to ask someone regarding their ethnic background? Detialed questions?

(TANGIBLE ASSETS) On January 1, 2017, the Morgantown Company purchased equipment with an original cost of $30,000. It estimates a 10 year-life with no salvage value. The company uses straight-line depreciation method. However during year 3 (year 2020), Morgantown Company estimates that it will use the machine for an additional 9 years.

Required: Compute the revised annual depreciation and prepare the journal entries on December 31, 2020.

As at 1st January, 2017, the spot exchange rate between the U.S. dollar and Japanese Yen was trading at $1.00 equivalent to ¥100. The local bank offered the Company to exchange $1.00 for ¥102 on 31st December, 2017. The Interest rates on one year government bonds were 6% in U.S. and 10% in Japan. The company can borrow and lend at the risk-free rate on government bonds. As an Investment Advisor you have been approached for advice by the CEO on the most profitable option that he should take: Under option 1, he is contemplating borrowing in dollars on 1 st January, exchange for Yen, enter into a forward contract to exchange Yen for dollars in one year, and invest the Yen for one year. The second option entails borrowing in Yen on January 1, exchange for dollars, enter into a forward contract to exchange dollars for Yen in one year, and invest the dollars for one year. Required: With the help of detailed explanations and steps, advise the CEO on the most profitable option that the company must take.

You have been hired as a consultant for ABC Corporation which produces models X, Y, and Z. The CEO tells you that their cost system indicated that they were losing money on their highest end model, which is model X. Due to that information, ABC Corporation dropped model X the previous year. During the current year, ABC Corporation is only producing models Y and Z. However, the preliminary numbers are showing that the profit for ABC Corporation is actually lower after dropping model X and now the cost system is indicating that they are losing money on model Y even though the prices, volumes, and direct costs are the same. Explain to the CEO some of the possible reasons that dropping model X caused a reduction in profits. Also, explain some of the possible actions the company should take going forward. Would dropping model Y benefit the company in any way? Is it possible that producing a product that is unprofitable by itself actually beneficial to the company overall?