Raphael Company paid $2,000,000 for the net assets of Paris Corporation and Paris was then dissolved. Paris had no liabilities. The fair values of Paris assets were $2,500,000. Paris s only non-current assets were land and equipment with fair values of $160,000 and $640,000, respectively. At what...

Pelican Corporation acquired a 30% interest in Crustacean Incorporated at book value several years ago. Crustacean declared and paid $100,000 dividends in 2010 and reported its income for the year as follows: Income from continuing operations $700,000 Loss on discontinued division...

You have the opportunity to invest in a machine that will increase cash flows by $1,600 per year. The initial investment is $5,000. The machine is expected to have a useful life of three years and have a salvage vale of $1,000. Your desired rate of return is 16%. Calculate the NPV of the...

How to do this entry, In the unadjusted trial balance sheet ,Supplies balance is 0. Supplies expense balance is debit 2000. And the company debits supplies expense when supplies are purchased . Supplies on hand at year end cost 500. Dr supplies expense 500 Cr: Supplies 500 Am I...