to restore growth in revenue and profitability the firm acquired competitor Jos.A.Bank in late 2014 for $1.8 billion after a heated bidding war.The final bid of $65 in cash for each Jos.A.Bank 's share represented a 56% premium to the closing price in early october 2013.The combined company had annual revenue of $3.5 billion and projected annual savings of $100-$150 million consisting of lower overhead,more efficient marketing and improved customer service.

How does the size of the premium paid for Jos.A. Bank affect the pace and extent of postmerger integration?

Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetual inventory system. Determine the cost assigned to the ending inventory using FIFO.

What is the correct answer?

Multiple Choice

• $5,530

• $4,800

• $5,340

• $4,990

• $5,440

Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetual inventory system. Determine the cost assigned to cost of goods sold using FIFO.

Multiple Choice

• $2,980

• $2,460

• $2,850

• $2,590

• $5,440

Effect of Subsidiary Preferred Stock

Snow Corporation issued common stock with a par value of $100,000 and preferred stock with a par value of $80,000 on January 1, 20X5, when the company was created. Klammer Corporation acquired a controlling interest in Snow on January 1, 20X6.

Required:

What does Klammer's controller need to know about the preferred stock to determine the proper allocation of consolidated net income to the controlling and noncontrolling interests? What ethical factors should be considered, if any ?

Please be detailed and explain why the missing information is required.

Small Company reported 2017 net income of $300,000 and paid dividends of $90,000 during the year. Parker Inc. acquired 20% of Small's outstanding voting stock on January 1, 2017 for $630,000. At December 31, 2017, Parker determined the fair value of the shares in small to be $615,000. Parker reported operating income of $540,000.

instructions: Compute Parker's net income for 2017 assuming it uses the following methods to account for its investment.

a. equity method in accounting for its investment in Small

b. fair value method in accounting for its investment in Small

Salmone Company reported the following purchases and sales for its only product. Salmone uses a perpetual inventory system. Determine the cost assigned to cost of goods sold using LIFO.

Multiple Choice

• $6,460

• $5,740

• $5,950

• $6,330

• $6,540

1. Allocating Payments and Receipts to Fixed Asset Accounts

The following payments and receipts are related to land, land improvements, and buildings acquired for use in a wholesale ceramic business. The receipts are identified by an asterisk.

Required:

1. Assign each payment and receipt to Land (unlimited life), Land Improvements (limited life), Building, or Other Accounts. Choose the correct account from the dropdown list for each letter and enter the appropriate amount. Enter receipts as negative amounts using the minus sign.

2. Determine the amount debited to Land, Land Improvements, and Building.

Allocating Payments and Receipts to Fixed Asset Accounts

The following payments and receipts are related to land, land improvements, and buildings acquired for use in a wholesale ceramic business. The receipts are identified by an asterisk.

Required:

1. Assign each payment and receipt to Land (unlimited life), Land Improvements (limited life), Building, or Other Accounts. Choose the correct account from the dropdown list for each letter and enter the appropriate amount. Enter receipts as negative amounts using the minus sign.

2. Determine the amount debited to Land, Land Improvements, and Building.

3. Since land used as a plant site does not lose its ability to provide services, it is not depreciated. Land improvements do lose their ability to provide services as time passes and are therefore depreciated .

4. What would be the effect on the current year’s income statement and balance sheet if the cost of filling and grading land of $20,600 [payment (i)] was incorrectly classified as Land Improvements rather than Land? Assume that Land Improvements are depreciated over a 20-year life using the double-declining-balance method.

Depreciation expense would be understated & Land improvements would be overstated.

Asia Pacific Ltd started operating on 1 July 2017 with 12 employees. Three years later all of those employees were still with the company. On 1 July 2019 the company hired 15 more people but by 30 June 2020 only 10 of those employed at the beginning of that year were still employed by Asia Pacific Ltd.

All employees are entitled to 13 weeks’ long-service leave after a conditional period of 10 years of employment with Asia Pacific Ltd.

At 30 June 2020 Asia Pacific Ltd estimates the following:

•  The aggregate annual salaries of all employees hired on 1 July 2017 is now $1,200,000.

•  The aggregate annual salaries of all current employees hired on 1 July 2019 is now $800,000.

•  The probability that employees hired on 1 July 2017 will continue to be employed for the duration

  of the conditional period is 40 per cent.

•  The probability that employees hired on 1 July 2019 will continue to be employed for the duration

  of the conditional period is 20 per cent.

•  Salaries are expected to increase indefinitely at 1 per cent per annum.

  The interest rates on high-quality corporate bonds are as follows:

  Corporate bonds maturing in seven years 6% Corporate bonds maturing in eight years 8% Corporate bonds maturing in nine years 8% Corporate bonds maturing in ten years 10%

  At 30 June 2019 the provision for long-service leave was $12,000.

  Required:

1. a) Calculate the total accumulated long-service leave benefit as at 30 June 2020.