DATE Student Activity
unit for
the
Air conditioning (All)
In 2011, Karma mechanical sold an
Nu 300.000, which included
service agreement to
maintain the Ale unit for three years starting at the beginning
of 2012. If sold separately,
Al unit would have sold for
No 228.000 and the ervice agreement
would have sold
Nu.
for
72000. The customer paid the full Nu 3000,ooo
2011. At
December 31, 2011 what amount would Karma mechanical recognize
as defpered
revenue?
Ans​

Grant, inc., acquired 30% of south co.’s voting stock for $200,000 on january 2, year 1, and did not elect the fair value option. the price equaled the carrying amount and the fair value of the interest purchased in south’s net assets. grant’s 30% interest in south gave grant the ability to exercise significant influence over south’s operating and financial policies. during year 1, south earned $80,000 and paid dividends of $50,000. south reported earnings of $100,000 for the 6 months ended june 30, year 2, and $200,000 for the year ended december 31, year 2. on july 1, year 2, grant sold half of its stock in south for $150,000 cash. south paid dividends of $60,000 on october 1, year 2. before income taxes, what amount should grant include in its year 1 income statement as a result of the investment?

When the amount for land is 36,000 and the amount paid for expenses is 10,000, the balance of total asset is

Singer and mcmann are partners in a business. singer’s original capital was $40,000 and mcmann’s was $60,000. they agree to salaries of $12,000 and $18,000 for singer and mcmann respectively and 10% interest on original capital. if they agree to share remaining profits and losses on a 3: 2 ratio, what will mcmann’s share of the income be if the income for the year was $15,000?