Pascal Corporation purchased 90% of the stock of Salzer Company for $2,039,400 on January 1, 2015. On this date, the fair value of the assets and liabilities of Salzer Company was equal to their book value except for the inventory and equipment accounts. The inventory had a fair value of $710,700 and a book value of $593,400. The equipment had a book value of $908,500 and a fair value of $1,081,600. The balances in salzer company’s common stock and retained earnings accounts on the date of acquisition were $1,197,700 and $611,100, respectively. Required:
In general journal form, prepare the entry on salzer company’s books to record the effect of the pushed down values implied by the purchase of its stock by pascal company assuming that values are allocated on the basis of the fair value of salzer company as a whole imputed from the transaction.

The outstanding bonds of the purple fiddle are priced at $898 and mature in nine years. these bonds have a 6 percent coupon and pay interest annually. the firm's tax rate is 35 percent. what is the firm's after tax cost of debt?

Salvador county issued $25 million of 5% demand bonds for construction of a county maintenance building. the county has no take-out agreement related to the bonds. it estimates that 20% of the bonds would be demanded (called) by the buyers if interest rates increased at least 1%. at year-end rates on comparable debt were 7%. how should these demand bonds be reported in the government-wide financial statements at year-end? a) $25 million in the long-term liability section of the governmental activities column. b) $5 million in the current liability section of the governmental activities column and $20 million in the long-term liabilities section of the governmental activities column. c) $5 million in the governmental activities column and $20 million would be reported in the schedule of changes in long-term debt obligations. d) $25 million in the current liability section of the governmental activities column

Danielle enjoy working as in certified public accountant (cpa) and assisting small business and individuals with managing their financial and taxes . which general area of accounting is her specialty ?