ACC 407 Week 4

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Description

ACC 407 Week 4

ACC 407 Week 4 Quiz

Assignments

Part One.

Review the financial information pertaining to the Pali Corporation in problem 8.6 on page 377 of your text. Prepare the following (include any applicable supporting computations in the explanations):

Prepare working paper eliminations (in journal entry format) for Padua Corporation and subsidiary on April 30, 2006, including the minority interest in net income of subsidiary. (Disregard the elimination for the intercompany investment in the subsidiarys common stock; also disregard income taxes.)

Part Two

Review the financial information pertaining to the Paseo Corporation in problem 9.3 on pages 418 and 419 of your text. Prepare the following (include any applicable supporting computations in the explanations):

Prepare journal entries for Presto Corporation to record the business combination with Shuey Company on January 2, 2005, including deferred income taxes.

Discussion Questions

Intercompany Transactions. Complete Cases 8.3 (page 372) and 8.5 (page 373) and post the answers. Remember to complete all parts of the problems and report the results of your analysis. Do not forget to show the necessary steps and explain how your attained that outcome.

Accepted Accounting Principles. Complete Cases 9.1 (page 415) and 9.2 (page 415) and post the answers. Remember to complete all parts of the problems and report the results of your analysis. Do not forget to show the necessary steps and explain how your attained that outcome.

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