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Solutions For Advanced Accounting, 5th Edition Hamlen (All Chapters included)
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Complete Solutions Manual for Advanced Accounting, 5th Edition by Susan S. Hamlen, Huefner and Largay, 9781618534248. Full chapters included Chapter 1 to 16. Chapter 1: Intercorporate Investments: An Overview. Chapter 2: Mergers and Acquisitions. Chapter 3: Consolidated Financial Statements: Date o...

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  • January 4, 2025
  • 878
  • 2024/2025
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Advanced Accounting, 5th Edition




SOLUTIONS
M
ED

Advanced
SO

Accounting, 5th
LU

Edition
TI
ON

Authors:
Susan S. Hamlen
S?

◊ ALL CHAPTERS

◊ INSTANT PDF DOWNLOAD💯💯💯
?

◊ ORIGINAL FROM PUBLISHER
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MEDSOLUTIONS
Email: nursefiles49@gmail.com

, Advanced Accounting,
5th Edition
by Susan S. Hamlen
M
ED
Complete Chapter Solutions Manual are
included (Ch 1 to 16)
SO

** Immediate Download
LU

** Swift Response ✅
TI
** All Chapters included
ON
S?
??
?

, CHAPTER 1

SOLUTIONS TO MULTIPLE CHOICE QUESTIONS, EXERCISES AND PROBLEMS


MULTIPLE CHOICE QUESTIONS

1. c
M
$180,000 - $160,000 = $20,000
$125,000 - $100,000 = 25,000
ED
Total gain $45,000

2. a
SO
$29,000 – $26,000 = $3,000

3. a
LU
$207,544 – [(6% x $200,000) – (4% x $207,544)] = $203,846

4. d
TI
Reclassification of unrealized loss on AFS securities sold $1,000 credit
Unrealized gain on AFS securities held at year-end 6,000 credit (1)
Total amount reported in OCI $7,000 credit
ON
(1) $81,000 – ($100,000 – $25,000) = $6,000 unrealized gain

5. d
S?
$5,000,000 + [40% x ($600,000 – $200,000)] = $5,160,000

6. b
??
?


1

, 7. b

Reported net income; 35% x $7,000,000 = $ 2,450,000
Less unconfirmed profit on ending inventory
35% x [$6,000,000 – ($6,000,000/1.25)] = (420,000)
Equity in net income $ 2,030,000
Less dividends; 35% x $2,000,000 (700,000)
M
Plus beginning investment balance 50,000,000
Ending investment balance $51,330,000
ED
8. d

Fizzy’s entry to record the acquisition is:
SO
Current assets 25,000
Property 2,500,000
Goodwill 25,475,000
Liabilities 3,000,000
LU
Cash 25,000,000

9. b
TI
10. a

11. b
ON
The entry to record the sale is:

Cash 410,000
Loss on sale of AFS securities 15,000
S?
Investment in AFS securities 400,000
Other comprehensive income 25,000
The reclassification of the loss increases OCI, and the loss reported in income is the
??
difference between the original cost ($400,000 + $25,000) and sales proceeds ($410,000).

12. b
?
$285,000 - $300,000 = $15,000 loss




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