How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Amol srivastava Your Own Question

Amol srivastava
Amol srivastava, CFA level 3 candidate
Category: Homework
Satisfied Customers: 626
Experience:  CFA Level 3 candidate and Chartered Accountant from India
15421553
Type Your Homework Question Here...
Amol srivastava is online now
A new question is answered every 9 seconds

1. A, B and C share profits in the ratio of 5 3 2 in a partnership

Customer Question

1.     A, B and C share profits in the ratio of 5:3:2 in a partnership and have a capital balance of $50,000, $30,000 and $20,000 respectively. Prepare the journal entries necessary to admit D to the partnership under each of the following separate cases:
a.     D buys 40% of A for $30,000
b.     D invests sufficient cash to receive a ¼ interest
c.     D invests $80,000 for a ¼ interest. Goodwill is to be recorded.
d.     D invests $30,000 for a ¼ interest. The bonus method is used.
Submitted: 5 years ago.
Category: Homework
Expert:  Amol srivastava replied 5 years ago.
HiCustomerbr />
To get the answers click here

Regards
Amol
Amol srivastava, CFA level 3 candidate
Category: Homework
Satisfied Customers: 626
Experience: CFA Level 3 candidate and Chartered Accountant from India
Amol srivastava and other Homework Specialists are ready to help you
Customer: replied 5 years ago.
Hi Amol,

Thanks for responding so propmptly. I will accept your answer. Also, I have provided the link for some additional problems I need help with. Please let me know what is your price for solving each problem. Here is the link: http://www.mediafire.com/file/z0mkjtahdny/problems 1-6.docx

The file is titled "Problem 1-6)

Thank you,
Frank
Expert:  Amol srivastava replied 5 years ago.
Please save the file in .doc format. I'm not able to open it in .docx format.
Customer: replied 5 years ago.
Please see if you can assist with these problem. If you are having issues reading these problems please let me know so I can upload the file to a website. Thank you, Frank



1.     Prepare in general journal form the workpaper entries to eliminate Prancer Company’s investment in Saltez Company in the preparation of a consolidated balance sheet at the date of acquisition for each of the following independent cases:

Saltez Company Equity Balances

Cash     Percent of Stock Owned     Investment Cost     Common Stock     Other Contributed Capital     Retained Earnings
a.     100%     $351,000     $160,000     $92,000     $43,000
b.     90     232,000     190,000     75,000     (29,000)
c.     80     159,000     180,000     40,000     (4,000)

Any difference between book value of net assets and the value implied by the purchase price relates to subsidiary property plant and equipment except for case (c). In case (c) assume that all book values and fair values are the same.

2.     On January 1, 2008 Polo Company purchased 100% of the common stock of Save Company by issuing 40,000 shares of its (Polo’s) $10 par value common stock with a market price of $17.50 per share. Polo incurred cash expenses of $20,000 for registering and issuing the common stock. The stockholder’s equity section of the two companies balance sheets on December 31, 2007, were:

_________________________________________________Polo________________Save
Common stock, $10 par value                    $350,000          $320,000
Other contributed capital                    $590,000          $175,000
Retained earnings                         $380,000          $205,000

a.     Prepare the journal entry on the books of Polo Company to record the purchase of the common stock of Save Company and related expenses
b.     Prepare the elimination entry required for the preparation of a consolidated balance sheet workpaper on the date acquisition

3.     On January 2, 2008, Prunce Company acquired 90% of the outstanding common stock of Sun Company for $192,000 cash. Just before the acquisition, the balance sheets of the two companies were as follows:

______________________________________________Prunce_____________Sun
Cash&nb sp;                                  $260,000     $64,000
Accounts receivable (net)                    $142,000     $23,000
Inventory              &nb sp;                    $117,000     $54,000
Plant and equipment (net)                    $386,000     $98,000
Land              &nb sp;                    $63,000     $32,000
     Total assets                         $968,000     $271,000
Accounts payable                         $104,000     $47,000
Mortgage payable                         $72,000     $39,000
Common stock, $2 par value                    $400,000     $70,000
Other contributed capital                    $208,000     $20,000
Retained earnings                         $184,000     $95,000
     Total Equities                         $968,000     $271,000

The fair values of Sun Company’s assets and liabilities are equal to their book values with the exception of land.

a.     Prepare a journal entry to record the purchase of Sun Company’s common stock
b.     Prepare a consolidated balance sheet at the date of acquisition

4.     On January 1, 2007, Peach Company issued 1,500 of its $20 par value common shares with a fair value of $60 per share in exchange for the 2,000 outstanding common shares of Swartz Company in a purchase transaction. Registration costs amounted to $1,700, paid in cash. Just prior to the acquisition, the balance sheets of the two companies were as follows:

_____________________________________________Peach Company     Swartz Company
Cash       &n bsp;                           $73,000     $13,000
Accounts receivable (net)                    $95,000     $19,000
Inventory                ;                    $58,000     $25,000
Plant and equipment (net)                    $95,000     $43,000
Land              & nbsp;                    $26,000     $22,000
     Total assets                         $347,000     $122,000

Accounts payable                         $66,000     $18,000
Notes payable                              $82,000     $21,000
Common stock, $20 par value                    $100,000     $40,000
Other contributed capital                    $60,000     $24,000
Retained earnings                         $39,000     $19,000
     Total equities                         $347,000     $122,000

Any difference between the book value of equity and the value implied by the purchase price relates to goodwill.

a.     Prepare the journal entry on Peach Company’s books to record the exchange of stock
b.     Prepare a Computation and Allocation Schedule for the difference between book value and value implied by the purchase price
c.     Prepare a consolidated balance sheet at the date of acquisition

5.     Pool Company purchased 90% of the outstanding common stock of Spruce Company on December 31, 2008, for cash. At that time the balance sheet of Spruce Company was as follows:

Current assets                                   $1,050,000
Plant and equipment                              $990,000
Land                                        $170,000
     Total assets                              $2,210,000
Liabilities                                         $820,000
Common stock, $20 par value                         $900,000
Other contributed capital                         $440,000
Retained earnings                              $150,000
     Total  &nbs p;                                $2,310,000
Less treasury stock at cost, 5,000 shares                    $100,000
     Total equities                              $2,210,000

Prepare the elimination entry required for the preparation of a consolidated balance sheet workpaper on December 31, 2008, assuming:

(1)     The purchase price of the stock was $1,400,000. Assume that any difference between the book value of net assets and the value implied by the purchase price relates to subsidiary land.
(2)     The purchase price of the stock was $1,160,000. Assume that the subsidiary land has a fair value of $180,000, and the other assets and liabilities are fairly valued.

6.     On December 31, 2007, Price Company purchased a controlling interest in Shipley Company. The balance sheet of Price Company and the consolidated balance sheet on December 31, 2007, were as follows:

___________________________________________Price Company______Consolifated_______
Cash                    ;                $22,000     $37,900
Accounts Receivable                         $35,000     $57,000
Inventory                 &nbs p;                 $127,000     $161,000
Investment in Shipley Company                    $212,000     0
Plant and equipment (net)                    $190,000     $337,000
Land& nbsp;                                  $120,000     $218,400
     Total   &nbs p;                          $706,000     $811,900

Accounts Payable                         $42,000     $112,500
Note payable                              $100,000     $100,000
Noncontrolling interest in Shipley Company          0          $35,400
Common stock                              $300,000     $300,000
Other contributed capital                    $164,000     $164,000
Retained earnings                         $100,000     $100,000
     Total   &nbs p;                          $706,000     $811,900

On the date of acquisition, the stockholder’s equity section of Shipley Company’s balance sheet was as follows:
     Common stock               $90,000
     Other contributed capital          $90,000
     Retained earnings               $56,000
     Total                         $236,000

a.     Prepare the investment elimination entry made to complete a consolidated balance sheet workpaper. Any difference between book value and the value implied by the purchase price relates to subsidiary land.
b.     Prepare Shipley Company’s balance sheet as it appeared on December 31, 2007.

7.     Polychromasia, Inc. had a number of receivables from subsidiaries at the balance sheet date, as well as several payables to subsidiaries. Of its five subsidiaries, four are consolidated in the financial statements (Green Company, Black Inc., White & Sons, and Silver Co.). Only the Brown Company is not consolidated with Polychromasia and the other affiliates. The following list of receivables and payables shows balances at 12/31/10.
     
     Interest receivable from the Brown Company          $50,000
     Interest payable to Black Inc.                    $75,000
     Intercompany payable to Silver Co.               $105,000
     Long-term advance to Green Company          $150,000
     Long-term payable to Silver Co.               $450,000
     Long-term receivable from Brown Company          $500,000

a.     Show the classification and amount (s) that should be reported in the consolidated balance sheet of Polychromasia, Inc. and Subsidiaries at 12/31/10 as receivable from subsidiaries.
b.     Show the classification and amount (s) that should be reported in the consolidated balance sheet of Polychromasia, Inc. and Subsidiaries at 12/31/10 as payable to subsidiaries.


8.     Peep Inc. acquired 100% of the outstanding common stock of Shy Inc. for $2,500,000 cash and 15,000 shares of it’s common stock ($2 par value). The stock’s market value was $40 on the acquisition date.

a.     Prepare the journal entry to record the acquisition.

9.     Assume the same information from #8. In addition, Peep Inc. incurred the following direct costs:
     Accounting fees for the purchase          $15,000
     Legal fees for registering the common stock     $30,000
     Other legal fees for the acquisition          $45,000
     Travel expenses to meet with Shy managers     $5,000
     SEC filing fees                    $2,000
                                   $97,000
Before the acquisition consummation date, $90,000 of the direct costs was charged to a deferred charges account pending the completion of the acquisition. The remaining $7,000 has not been accrued or paid.

a.     Prepare the journal entry to record both the acquisition and the direct costs.
Expert:  Amol srivastava replied 5 years ago.
Yes these questions can be done.Once these are done you can add bonus it this post only.
Customer: replied 5 years ago.
Thanks! Just let me know when you are complete so I can pay you for your services. I really appreciate all of your help.

Thank,
Frank
Expert:  Amol srivastava replied 5 years ago.
Can you please give me your deadline on this?
Customer: replied 5 years ago.
If you can finish it today, that would be fine. If not, I would need it by 1:30PM Monday, March 2, 2009.

Thank you,
Frank
Expert:  Amol srivastava replied 5 years ago.

i will try to meet your deadline.

Expert:  Amol srivastava replied 5 years ago.
Sorry for delay working on ur answers
Customer: replied 5 years ago.
Thank you! I appreciate it
Expert:  Amol srivastava replied 5 years ago.
Just wait for abt an hour ur answrs will be ready.
Customer: replied 5 years ago.
OK, Thanks!
Expert:  Amol srivastava replied 5 years ago.

To get the answers click here

Customer: replied 5 years ago.
Thank you! What is your price?
Expert:  Amol srivastava replied 5 years ago.
As per JA policy i can not negoitate price with you. Just add bonus to this question.
Amol srivastava, CFA level 3 candidate
Category: Homework
Satisfied Customers: 626
Experience: CFA Level 3 candidate and Chartered Accountant from India
Amol srivastava and other Homework Specialists are ready to help you
Customer: replied 5 years ago.
I don't know how to do that. Can you instruct me how to add bonus?

Thank you,
Frank
Expert:  Amol srivastava replied 5 years ago.
I'm myself not sure :) many times when I answer the question students give bonus. What you can do is post another question and write Amol in front of your post. I will give this answer there and then you accept it. It is ok with you. Sorry for the trouble.
Expert:  Amol srivastava replied 5 years ago.

HiCustomer/p>

 

Any updates on this one ?

 

Regards

Amol

Customer: replied 5 years ago.
Hi Amol,

I have not forgot about you. I have been busy with other course work. I should have this issue resolved for you tomorrow.

Thank you,
Frank
Expert:  Amol srivastava replied 5 years ago.

No issues take you time.

Were these answers helpful to you. In case you want to direct your future posts to me you can mention Amol in front of your posts.

 

Thankx

Amol

Customer: replied 5 years ago.
Yes, I would probably need further help from you. I have tried reaching specific tutors but have had no luck. So I will just try to keep replying to your messages for communication.

Tell you what, I am going to send a sample question and direct it to you-"Amol" and I want to see if you will receive it. Please don't bother to answer this question because it is simply a test.

Thank you,
Frank
Expert:  Amol srivastava replied 5 years ago.
Sure :)
Customer: replied 5 years ago.
<p>Hi Amol,</p><p> </p><p>I just accepetd your answer and added a bonus. Let me know if everything was successful.</p><p> </p><p>Also, I will be sending you some more problems to work on later.</p><p> </p><p>Thank you,</p><p>Frank</p>
Customer: replied 5 years ago.
<p>Hi Amol,</p><p> </p><p>Let me know if you can assit my with these problems. I need the solutions by March 9, 2009 at 3:00PM. Thank you very much!</p><p> </p><p> </p><ul><li>1. Percy Company purchased 80% of the outstanding voting shares of Song Company at the beginning of 2006 for $387,000. At the time of purchase, Song Company's total stockholders' equity amounted to $475,000. Income and dividend distributions for Song Company from 2006 through 2008 are as follows:</li></ul><p> </p><p><u>__________________2006______________2007____________________2008</u></p><p>Net income (loss)         &nbs p;  $63,500                  $52,500                 ($55,000)</p><p>Dividend distribution      $25,000           ;           $50,000                 $35,000</p><p> </p><p>Prepare journal entries on the books of Percy Company from the date of purchase through 2008 to account for its investment in Song Company under each of the following assumptions:</p><ul><li>a. Percy Company uses the cost method to record its investment.</li><li>b. Percy Company uses the partial equity method to record its investment.</li><li>c. Percy Company uses the complete equity method to record its investment. The difference between book value of equity acquired and the value implied by the purchase price was attributed solely to an excess of market over book values of depreciable assets, with a remaining life of 10 years.</li></ul><p> </p><ul><li>2. Park Company purchased 90% of the stock of Salt Company on January 1, 2002, for $465,000, an amount equal to $15,000 in excess of the book value of equity acquired. This excess payment relates to an undervaluation of Salt Company's land. On the date of purchase, Salt Company's retained earnings balance was $50,000. The remainder of the stockholders equity consists of no-par common stock. During 2006, Salt Company declared dividends in the amount of $10,000, and reported net income of $40,000. The retained earnings balance of Salt Company on December 31, 2005, was $160,000. Park Company uses the cost method to record its investment.</li></ul><p> </p><p>Prepare a general journal form the workpaper entries that would be made in the preparation of a consolidated statements workpaper on December 31, 2006.</p><p> </p><ul><li>3. At the beginning of 1999, Presidio Company purchased 95% of the common stock of Succo Company for $494,000. On that date, Succo Company's stockholders equity consisted of the following:</li></ul><p>               Common stock                         &n bsp;        $300,000</p><p>               Other contributed capital                   $100,000</p><p>               Retained earnings                             <u>$120,000               </u></p><p>                                Total                                    $520,000</p><p>During 2007, Succo Company reported net income of $40,000 and distributed dividends in the amount of $19,000. Succo Company's retained earnings balance at the end of 2006 amounted to $160,000. Presidio Company uses the equity method</p><p> </p><p>Prepare in general form the workpaper entries necessary in the compilation of consolidated financial statements on December 31, 2007. Explain why the partial and complete equity methods would result in the same entries in this instance.</p><p> </p><ul><li>4. Poco Company purchased 85% of the outstanding common stock of Serena Company on December 31, 2006, for $310,000 cash. On that date, Serena Company's stockholder's equity consisted of the following:</li></ul><p> </p><p>Common stock                                   $240,000</p><p>Other contributed capital                    $55,000</p><p>Retained earnings &n bsp;                             <u>$50,000</u></p><p>               Total                 &n bsp;                    $345,000</p><p> </p><p>               During 2009, Serena Company distributed a dividend in the amount of $12,000 and at year-end reported a net loss of $10,000. During the time that Poco Company has held its investment in Serena Company, Serena Company's retained earnings balance has decreased $29,500 to a net balance of $20,500 after closing on December 31, 2009. Serena Company did not declare or distribute any dividends in 2007 or 2008. The difference between book value and the value implied by the purchase price relates to goodwill.</p><ul><li>a. Assume that Poco Company uses the equity method. Prepare in general journal form the entries needed in the preparation of a consolidated statements workpaper on December 31, 2009. Explain why the partial and complete equity methods would result in the same entries in this instance.</li><li>b. Assume that Poco Company uses the cost method. Prepare in general journal form the entries needed in the preparation of a consolidated statements workpaper on December 31, 2009</li></ul><p> </p><ul><li>5. On January 1, 2006, Plate Company purchased a 90% interest in the common stock of Set Company for $650,000, an amount $20,000 in excess of the book value of equity acquired. The excess relates to the understatement of Set Company's land holdings. Excerpts from the consolidated retained earnings section of the consolidated statements workpaper for the year ended December 31, 2006, follow:</li></ul><p> </p><p><u>_______________________________Set Company                  Consolidated Balances</u></p><p>1/1/06 retained earnings                             190,000                            880,000</p><p>Net income from above                                  132,000                         420,000</p><p>Dividends declared             &nbs p;                          <u>(50,000)</u>                      <u>(88,000)</u></p><p>12/31/06 retained earnings             ;               272,000                            1,212,000</p><p>to the balance sheet</p><p> </p><p>Set Company's stockholder's equity is composed of common stock and retained earnings only.</p><ul><li>a. Prepare the eliminating entries required for the preparation of a consolidated statements workpaper on December 31, 2006, assuming the use of the cost method.</li><li>b. Prepare the eliminating entries required for the preparation of a consolidated statements workpaper on December 31, 2006, assuming the use of the equity method.</li><li>c. Determine the total noncontrolling interest that will be reported on the consolidated balance sheet on December 31, 2006. How does the noncontrolling interest differ between the cost method and the equity method?</li></ul><p> </p><ul><li>6. On January 1, 2006, Pert Company purchased 85% of the outstanding common stock of Sales Company for $350,000. On that date, Sales Company's stockholders equity consisted of common stock, $100,000; other contributed capital, $40,000; and retained earnings, $140,000. Pert Company paid more than the book value of net assets acquired because the recorded cost of Sales Company's land was significantly less than its fair value. During 2006 Sales Company earned $148,000 and declared and paid a $50,000 dividend. Pert Company used the partial equity method to record its investment in Sales Company.</li></ul><p> </p><ul><li>a. Prepare the investment-related entries on Pert Company's books for 2006.</li><li>b. Prepare the workpaper eliminating entries for a workpaper on December 31, 2006.</li></ul><p> </p><ul><li>7. Continue the situation in #6 and assume that during 2007 Sales Company earned $190,000 and declared and paid a $50,000 dividend.</li></ul><p> </p><ul><li>a. Prepare the investment-related entries on Pert Company's books for 2007.</li><li>b. Prepare the workpaper eliminating entries for a workpaper on December 31, 2007.</li></ul><p> </p><ul><li>8. On May 1, 2007, Peters Company purchased 80% of the common stock of Smith Company for $50,000. Additional data concerning these two companies for the years 2007 and 2008 are:</li></ul><p>2007                                                ;                                                 2008</p><p>Peter                     Smith                                                            Peter                     Smith</p><p>Common stock                                  100,000 25,000                   100,000 25,000</p><p>Other contributed capital             40,000      ;              10,000        40,000                  10,000</p><p>Retained earnings, 1/1                  80,000         &nb sp;         10,000                   129,000 53,000</p><p>Net income (loss)        ;                     64,000                   45,000                   37,500                   (5,000)</p><p>Cash dividends (11/30)                  15,000              &nb sp;    2,000                     5,000                     0</p><p> </p><p>Any difference between book value and the value implied by the purchase price relates to Smith Company's land. Peters Company uses the cost method to record its investment.</p><p> </p><ul><li>a. Prepare the workpaper entries that would be made on a consolidated statements workpaper for the years ended December 31, 2007 and 2008 for Peters Company and its subsidiary, assuming that Smith Company's income is earned evenly throughout the year. (Use the full-year reporting alternative).</li><li>b. Calculate consolidated net income and consolidated retained earnings for 2007 and 2008.</li></ul><p> </p><ul><li>9. Using the data in #8, prepare working paper elimination entries for 2007 assuming use of the partial-year reporting alternative.</li></ul><p> </p><ul><li>10. On October 1, 2007, Para Company purchased 90% of the outstanding common stock of Star Company for $210,000. Additional data concerning Star Company for 2007 follows:</li></ul><p> </p><p>               Common stock  &n bsp;                                               $70,000</p><p>               Other contributed capital                             30,000</p><p>               Retained earnings, 1/1             &n bsp;                    70,000</p><p>               Net income                                                         60,000</p><p>               Dividends declared and paid (12/15)       10,000</p><p> </p><p>Any difference between book value and the value implied by the purchase price relates to goodwill. Para Company uses the partial equity method to record its investment in Star Company.</p><p> </p><ul><li>a. Prepare on Para Company's books journal entries to record the investment-related activities for 2007.</li><li>b. Prepare workpaper eliminating entries for a workpaper on December 31, 2007. Star Company's net income is earned throughout the year. (Use alternative two-the partial-year reporting alternative).</li><li>c. Repeat part B, but use the full-year reporting alternative.</li></ul><p> </p><ul><li>11. A consolidated income statement and selected comparative consolidated balance sheet data for Palano Company and subsidiary follow:</li></ul><p> </p><p align="center">Palano Company and Subsidiary</p><p align="center">Consolidated Income Statement</p><p align="center">For the Year Ended December 31, 2007</p><p align="center"> </p><p>Sales                                                         ;                                                              $701,000</p><p>Cost of Sales                                                                                                       263,000</p><p>Gross profit                    &n bsp;                                                                   <u>               438,000</u></p><p>Operating expenses:</p><p>               Depreciation expense                   $76,000</p><p>               Selling expenses                             122,000</p><p>               Administrative expenses &nb sp;            <u>85,000</u>                                   <u>283,000</u></p><p>Consolidated net income                         &n bsp;                                                   155,000</p><p>Less noncontrolling interest in consolidated net income                                38,750</p><p>Controlling interest in consolidated net income      &nb sp;                          <u>116,250</u></p><p><u>_______________________________________December 31</u></p><p>                                  & nbsp;                                                             2006                      2007</p><p>Accounts receivable                                                       $229,000    &nb sp;         $318,000</p><p>Inventory                                                                            194,000 234,000</p><p>Prepaid selling expenses                           &n bsp;                  26,000                   30,000</p><p>Accounts payable                                                             99,000                   79,000</p><p>Accrued selling expenses          &n bsp;                                  96,000                   84,000</p><p>Accrued administrative expenses                             56,000                   39,000</p><p> </p><p>Prepare the cash flow from operating activities section of a consolidated statement of cash flows assuming use of the:</p><ul><li>a. Direct method.</li><li>b. Indirect method.</li></ul><p>               </p><p> </p><p> </p>
Customer: replied 5 years ago.
I don't like how this problem came through. Can you tell me how you uploaded the answers to the last problem in Microsoft Word? I used a website called mediafire.com to upload my problems the last time but I remeber you saying you were unable to open the file because it was in docx.form i believe. Please assit me. Thank you!
Expert:  Amol srivastava replied 5 years ago.

For zip files, PDFs, or spreadsheets, you need to use the link tool. Enter text (like "download this") in the reply box and then double-click to highlight it. The link is the tool to the left of the tree. In the upper right corner is a browse dialog box, which you can use to locate your file. Select it and then insert the link.

 

Also please specify your deadlines with questions.

 

Customer: replied 5 years ago.
Hi Amol,

Here are the problems I need assistance with: http://www.mediafire.com/?sharekey=9e70cb5411c7bf154012e8015643d9c82ebae3258a1cd831

Let me know if you have any questions. The deadline is March 9, 2009 at 3pm.

Thank you,
Frank
Expert:  Amol srivastava replied 5 years ago.

buddy I'm not able to open file. Please save it in .doc format. My laptop cannot read .docx format. Sorry for inconvience.

Customer: replied 5 years ago.
1.     Percy Company purchased 80% of the outstanding voting shares of Song Company at the beginning of 2006 for $387,000. At the time of purchase, Song Company’s total stockholders’ equity amounted to $475,000. Income and dividend distributions for Song Company from 2006 through 2008 are as follows:

__________________2006______________2007____________________2008
Net income (loss)     $63,500     $52,500          ($55,000)
Dividend distribution     $25,000     $50,000          $35,000

Prepare journal entries on the books of Percy Company from the date of purchase through 2008 to account for its investment in Song Company under each of the following assumptions:
a.     Percy Company uses the cost method to record its investment.
b.     Percy Company uses the partial equity method to record its investment.
c.     Percy Company uses the complete equity method to record its investment. The difference between book value of equity acquired and the value implied by the purchase price was attributed solely to an excess of market over book values of depreciable assets, with a remaining life of 10 years.

2.     Park Company purchased 90% of the stock of Salt Company on January 1, 2002, for $465,000, an amount equal to $15,000 in excess of the book value of equity acquired. This excess payment relates to an undervaluation of Salt Company’s land. On the date of purchase, Salt Company’s retained earnings balance was $50,000. The remainder of the stockholders equity consists of no-par common stock. During 2006, Salt Company declared dividends in the amount of $10,000, and reported net income of $40,000. The retained earnings balance of Salt Company on December 31, 2005, was $160,000. Park Company uses the cost method to record its investment.

Prepare a general journal form the workpaper entries that would be made in the preparation of a consolidated statements workpaper on December 31, 2006.

3.     At the beginning of 1999, Presidio Company purchased 95% of the common stock of Succo Company for $494,000. On that date, Succo Company’s stockholders equity consisted of the following:
     Common stock               $300,000
     Other contributed capital     $100,000
     Retained earnings          $120,000     
          Total               $520,000
During 2007, Succo Company reported net income of $40,000 and distributed dividends in the amount of $19,000. Succo Company’s retained earnings balance at the end of 2006 amounted to $160,000. Presidio Company uses the equity method

Prepare in general form the workpaper entries necessary in the compilation of consolidated financial statements on December 31, 2007. Explain why the partial and complete equity methods would result in the same entries in this instance.

4.     Poco Company purchased 85% of the outstanding common stock of Serena Company on December 31, 2006, for $310,000 cash. On that date, Serena Company’s stockholder’s equity consisted of the following:

Common stock               $240,000
Other contributed capital     $55,000
Retained earnings          $50,000
     Total               $345,000

     During 2009, Serena Company distributed a dividend in the amount of $12,000 and at year-end reported a net loss of $10,000. During the time that Poco Company has held its investment in Serena Company, Serena Company’s retained earnings balance has decreased $29,500 to a net balance of $20,500 after closing on December 31, 2009. Serena Company did not declare or distribute any dividends in 2007 or 2008. The difference between book value and the value implied by the purchase price relates to goodwill.
a.     Assume that Poco Company uses the equity method. Prepare in general journal form the entries needed in the preparation of a consolidated statements workpaper on December 31, 2009. Explain why the partial and complete equity methods would result in the same entries in this instance.
b.     Assume that Poco Company uses the cost method. Prepare in general journal form the entries needed in the preparation of a consolidated statements workpaper on December 31, 2009

5.     On January 1, 2006, Plate Company purchased a 90% interest in the common stock of Set Company for $650,000, an amount $20,000 in excess of the book value of equity acquired. The excess relates to the understatement of Set Company’s land holdings. Excerpts from the consolidated retained earnings section of the consolidated statements workpaper for the year ended December 31, 2006, follow:

_______________________________Set Company          Consolidated Balances
1/1/06 retained earnings          190,000          880,000
Net income from above               132,000          420,000
Dividends declared               (50,000)          (88,000)
12/31/06 retained earnings          272,000          1,212,000
to the balance sheet

Set Company’s stockholder’s equity is composed of common stock and retained earnings only.
a.     Prepare the eliminating entries required for the preparation of a consolidated statements workpaper on December 31, 2006, assuming the use of the cost method.
b.     Prepare the eliminating entries required for the preparation of a consolidated statements workpaper on December 31, 2006, assuming the use of the equity method.
c.     Determine the total noncontrolling interest that will be reported on the consolidated balance sheet on December 31, 2006. How does the noncontrolling interest differ between the cost method and the equity method?

6.     On January 1, 2006, Pert Company purchased 85% of the outstanding common stock of Sales Company for $350,000. On that date, Sales Company’s stockholders equity consisted of common stock, $100,000; other contributed capital, $40,000; and retained earnings, $140,000. Pert Company paid more than the book value of net assets acquired because the recorded cost of Sales Company’s land was significantly less than its fair value. During 2006 Sales Company earned $148,000 and declared and paid a $50,000 dividend. Pert Company used the partial equity method to record its investment in Sales Company.

a.     Prepare the investment-related entries on Pert Company’s books for 2006.
b.     Prepare the workpaper eliminating entries for a workpaper on December 31, 2006.

7.     Continue the situation in #6 and assume that during 2007 Sales Company earned $190,000 and declared and paid a $50,000 dividend.

a.     Prepare the investment-related entries on Pert Company’s books for 2007.
b.     Prepare the workpaper eliminating entries for a workpaper on December 31, 2007.

8.     On May 1, 2007, Peters Company purchased 80% of the common stock of Smith Company for $50,000. Additional data concerning these two companies for the years 2007 and 2008 are:
2007                    2008
Peter           Smith          Peter          Smith
Common stock               100,000     25,000          100,000     25,000
Other contributed capital     40,000          10,000          40,000          10,000
Retained earnings, 1/1          80,000          10,000          129,000     53,000
Net income (loss)          ; 64,000          45,000          37,500          (5,000)
Cash dividends (11/30)& nbsp;         15,000          2,000          5,000          0

Any difference between book value and the value implied by the purchase price relates to Smith Company’s land. Peters Company uses the cost method to record its investment.

a.     Prepare the workpaper entries that would be made on a consolidated statements workpaper for the years ended December 31, 2007 and 2008 for Peters Company and its subsidiary, assuming that Smith Company’s income is earned evenly throughout the year. (Use the full-year reporting alternative).
b.     Calculate consolidated net income and consolidated retained earnings for 2007 and 2008.

9.     Using the data in #8, prepare working paper elimination entries for 2007 assuming use of the partial-year reporting alternative.

10.     On October 1, 2007, Para Company purchased 90% of the outstanding common stock of Star Company for $210,000. Additional data concerning Star Company for 2007 follows:

     Common stock                    $70,000
     Other contributed capital          30,000
     Retained earnings, 1/1               70,000
     Net income                    60,000
     Dividends declared and paid (12/15)     10,000

Any difference between book value and the value implied by the purchase price relates to goodwill. Para Company uses the partial equity method to record its investment in Star Company.

a.     Prepare on Para Company’s books journal entries to record the investment-related activities for 2007.
b.     Prepare workpaper eliminating entries for a workpaper on December 31, 2007. Star Company’s net income is earned throughout the year. (Use alternative two-the partial-year reporting alternative).
c.     Repeat part B, but use the full-year reporting alternative.

11.     A consolidated income statement and selected comparative consolidated balance sheet data for Palano Company and subsidiary follow:

Palano Company and Subsidiary
Consolidated Income Statement
For the Year Ended December 31, 2007

Sales                                         $701,000
Cost of Sales                                   263,000
Gross profit                                   438,000
Operating expenses:
     Depreciation expense          $76,000
     Selling expenses          122,000
     Administrative expenses     85,000               283,000
Consolidated net income                         155,000
Less noncontrolling interest in consolidated net income          38,750
Controlling interest in consolidated net income               116,250
_______________________________________December 31
                              2006          2007
Accounts receivable                    $229,000     $318,000
Inventory                         194,000     234,000
Prepaid selling expenses               26,000          30,000
Accounts payable                    99,000          79,000
Accrued selling expenses               96,000          84,000
Accrued administrative expenses          56,000          39,000

Prepare the cash flow from operating activities section of a consolidated statement of cash flows assuming use of the:
a.     Direct method.
b.     Indirect method.
     


Expert:  Amol srivastava replied 5 years ago.
I will try to complete these by your deadline but they are very intense and will take a lot of time and effort.
Customer: replied 5 years ago.
Thank you! I appreciate it.
Expert:  Amol srivastava replied 5 years ago.
I'm sorry but think I will be able to answer only about 6 question from 2-7 in time left for deadline. What I suggest it that you list the remaining questions so that other expert can have a look at them and you get the assignment completed on time. Sorry for the inconvience. Hope you understand
Customer: replied 5 years ago.
<p>No Hurry. Complete what you can today and finish the rest tomorrow. The deadline for these problems are not time sensitive like I thought. If you can wrap up everything for me tomorrow by 4pm that would be great.</p><p> </p><p>Thank you,</p><p>Frank</p>
Expert:  Amol srivastava replied 5 years ago.

Hi Frank,

 

I looked at your questions in bit detail and I'm getting a bit confused between equity method(partial/complete) and cost method. It has been a long time I dont want to give in the wrong answers. If you can provide me some material you have on this topic that would be of great help like some sample questions. I will then try to complete your assignment by tommorrow's dealine. Sorry for the inconvience. If you feel this approach is not ok then you can go ahead and list the question on website.

 

Regards

Amol

Customer: replied 5 years ago.
<p>Hi Amol,</p><p> </p><p>This is fine. I will try to provide some sample questions later this evening. How old are you? How long have you been studying accounting? </p><p> </p><p>Regards,</p><p>Frank</p>
Expert:  Amol srivastava replied 5 years ago.
I'm 27 right now :) and have been studying accounting for about 7 -8 years. I have Chartered accountant degree from India which is equivalent to CPA of US.
Customer: replied 5 years ago.
That's nice. I want to join MBA program next year.
Expert:  Amol srivastava replied 5 years ago.
gr8 i have alson GMAT and is also planning to join in 2010.
Customer: replied 5 years ago.
Hi Amol,

What is the status?
Customer: replied 5 years ago.
<p>Hi Amol,</p><p> </p><p>Hope all is well with you. Here are some additional problems I need some assistance with. Please let me know when you can finish them. There isn't a rush on these problems, but if you can wrap up the problems I sent you earlier by this weekend it would be great. Thank you!</p><p> </p><p> </p><ul><li>1. On January 1, 2007, Pam Company purchased an 85% interest in Shaw Company for $540,000. On this date, Shaw Company had common stock of $400,000 and retained earnings of $140,000.</li></ul><p>An estimation of Shaw Company's assets and liabilities revealed that their book value was equal to their fair value except for marketable securities and equipment:</p><p> </p><p><u>____________________________________________Book Value_____Fair Value</u></p><p>Marketable securities                                         $20,000                 $45,000</p><p>Equipment (net)         ;                                        $120,000                             $140,000</p><p> </p><ul><li>a. Prepare a Computation and Allocation Schedule for the difference between book value of equity acquired and the value implied by the purchase price.</li><li>b. Determine the amounts at which the above assets (plus goodwill, if any) will appear on the consolidated balance sheet on January 1, 2007.</li></ul><p> </p><ul><li>2. On January 1, 2009, Payne Corporation purchased a 75% interest in Salmon Company for $585,000. A summary of Salmon Company's balance sheet on that date revealed the following:</li></ul><p> </p><p><u>_______________________________Book Value                      Fair Value</u></p><p>Equipment                  ;                          $525,000                             $705,000</p><p>Other assets                                          <u>150,000</u>             ;                    <u>150,000</u></p><p>                                                                675,000                                855,000</p><p>Liabilities                                               75,000                                   75,000</p><p>Common stock                                   225,000</p><p>Retained earnings                             <u>375,000</u></p><p>                       &nb sp;                                 675,000</p><p> </p><p>The equipment had an original life of 15 years and has a remaining useful life of 10 years.</p><p>For the December 31, 2009, consolidated financial statements workpaper, prepare the workpaper entry to allocate and depreciate the difference between book value and the value implied by the purchase price assuming:</p><ul><li>a. Equipment is presented net of accumulated depreciation.</li><li>b. Accumulated depreciation is presented on a separate row in the workpaper and in the consolidated statement of financial position.</li></ul><p> </p><ul><li>3. Pace Company purchased 20,000 of the 25,000 shares of Saddler Corporation for $525,000. On January 3, 2008, the acquisition date, Saddler Corporation's capital stock and retained earnings account balances were $500,000 and $100,000, respectively. The following values were determined for Saddler Corporation on the date of purchase:</li></ul><p> </p><p><u>______________________________________________Book Value              Fair Value</u></p><p>Inventory                & nbsp;                                                           $50,000                 $70,000</p><p>Other current assets                              ;                         200,000                 200,000</p><p>Marketable securities            &nbs p;                                       100,000                  125,000</p><p>Plant and equipment         &nb sp;                                           300,000                 330,000</p><p> </p><ul><li>a. Prepare the entry on the books of Pace Company to record its investments in Saddler Corporation.</li><li>b. Prepare a Computation and Allocation Schedule for the difference between book value and the value implied by the purchase price in the consolidated statements workpaper.</li></ul><p> </p><ul><li>4. On January 1, 2009, Porter Company purchased an 80% interest in Salem Company for $260,000. On this date, Salem Company had common stock of $207,000 and retained earnings of $130,500. An examination of Salem Company's balance sheet revealed the following comparisons between book and fair values:</li></ul><p> </p><p><u>________________________________________Book Value              Fair Value</u></p><p>Inventory                                        &nb sp;                                   $30,000          $35,000</p><p>Other current assets           & nbsp;                                          50,000                   55,000</p><p>Equipment                                                                          300,000           350,000 </p><p>Land            &n bsp;                                                                        200,000       200,000</p><p> </p><ul><li>a. Determine the amounts that should be allocated to Salem Company's assets on the consolidated financial statements workpaper on January 1, 2009.</li><li>b. Prepare the January 1, 2009, consolidated financial statements workpaper entries to eliminate the investment account and to allocate the difference between book value and the value implied by the purchase price.</li></ul><p> </p><ul><li>5. On January 1, 2008, P Company purchased an 80% interest in S Company for $600,000, at which time S Company had retained earnings of $300,000 and capital stock of $350,000. Any difference between book value and the value implied by the purchase price was entirely attributable to a patent with a remaining useful life at 10 years. Assume that P and S Companies reported net incomes from their independent operations of $200,000 and $100,000, respectively.</li></ul><p> </p><ul><li>a. Prepare a t-account calculation of the controlling interest and noncontrolling interest in consolidated net income for the year ended December 31, 2008.</li></ul><p> </p><ul><li>6. Park Company acquires an 85% interest in Sunland Company on January 2, 2009. The resulting difference between book value and the value implied by the purchase price in the amount of $120,000 is entirely attributable to equipment with an original life of 15 years and a remaining useful life, on January 2, 2009, of 10 years.</li></ul><p> </p><ul><li>a. Prepare the December 31 consolidated financial statements workpaper entries for 2009 and 2010 to allocate and depreciate the difference between book value and the value implied by the purchase price, recording accumulated depreciation as a separate balance.</li></ul><p> </p><ul><li>7. On January 1, 2008, Packard Company purchased an 80% interest on Sage Company for $600,000. On this date Sage Company had common stock of $150,000 and retained earnings of $400,000. Sage Company's equipment on the date of Packard Company's purchase had a book value of $400,000 and a fair value of $600,000. All equipment had an estimated useful life of 10 years on January 2, 2003.</li></ul><p> </p><ul><li>a. Prepare the December 31 consolidated financial statements workpaper entries for 2008 and 2009 to allocated and depreciate the difference between book value and the value implied by the purchase price, recording accumulated depreciation as a separate balance.</li></ul><p> </p><ul><li>8. Padilla Company purchased 80% of the common stock of Sanoma Company in the open market on January 1, 2007, paying $31,000 more than the book value of the interest acquired. The difference between book value and the value implied by the purchase price is attributable to land.</li></ul><p> </p><ul><li>a. What workpaper entry is required each year until the land is disposed of?</li><li>b. Assume that the land is sold on 1/1/10 and that Sanoma Company recognizes a $50,000 gain on its books. What amount of gain will be reflected in consolidated income on the 2010 consolidated income statement?</li><li>c. In all years subsequent to the disposal of the land, what workpaper entry will be necessary?</li></ul><p> </p><ul><li>9. On January 1, 2007, Point Corporation acquired an 80% interest in Sharp Company for $2,000,000. At that time Sharp Company had capital stock of $1,500,000 and retained earnings of $700,000. The book values of Sharp Company's assets and liabilities were equal to their faur values except for land and bonds payable. The land had a fair value of $100,000 and a book value of $80,000. The outstanding bonds were issued at par value on January 1, 2002, pay 10% annually, and mature on January 1, 2012. The bond principal is $500,000 and the current yield rate on similar bonds is 8%.</li></ul><p> </p><ul><li>a. Prepare a Computation and Allocation Schedule for the difference between book value and the value implied by the purchase price in the consolidated statements workpaper on the acquisition date.</li><li>b. Prepare the workpaper entries necessary on December 31, 2007, to allocate and depreciate the difference between book value and the value implied by the purchase price.</li></ul><p> </p><ul><li>10. On January 2, 2007, Page Corporation acquired a 90% interest in Salcedo Company for $3,500,000. At that time Salcedo Company had capital stock of $2,250,000 and retained earnings of $1,250,000. The book values of Salcedo Company's assets and liabilities were equal to their fair values except for the land and bonds payable. The land had a fair value of $200,000 and a book value of $120,000. The outstanding bonds were issued on January 1, 2002, at 9% and mature on January 1, 2012. The bond's principal is $500,000 and the current yield rate on similar bonds is 6%</li></ul><p> </p><ul><li>a. Assuming interest is paid annually, prepare a Computation and Allocation Schedule for the difference between book value and the value implied by the purchase price in the consolidated statements workpaper on the acquisition date.</li><li>b. Prepare the workpaper entries necessary on December 31, 2007, to allocate and depreciate the difference between book value and the value implied by the purchase price.</li></ul><p> </p><p>                                               & nbsp;                                                                </p>
Customer: replied 5 years ago.
Hi Amol,

I haven't heard from you in a while. Is everything okay? I still have not received and answer to my problems. Can you notify me once you get back online?

Thank you,
Frank
Expert:  Amol srivastava replied 5 years ago.
Hey buddy how r u ? You said you will give some sample questions . Since you never gave them I thought u dont need them. :(
Customer: replied 5 years ago.
Sorry I don't have any sample questions to give you :(
Expert:  Amol srivastava replied 5 years ago.
Ok I will try to complete whatever I can.
Customer: replied 5 years ago.
Thank you! I really appreciate that~
Expert:  Amol srivastava replied 5 years ago.
Hi frank,

To get answers to question 1-4 click here

In the mean while I'm working on ur remaining question.

Regards
Amol
Customer: replied 5 years ago.
Hi,

I'm not sure what the solutions are to these problems that you have provided. I do remember sending you two sets of sample problems. Can you assist please?

Thank you,
Frank
Expert:  Amol srivastava replied 5 years ago.
They are solutions for :

1. Percy Company purchased 80% of the outstanding voting shares of Song Company at the beginning of 2006 for $387,000. At the time of purchase, Song Company’s total stockholders’ equity amounted to $475,000. Income and dividend distributions for Song Company from 2006 through 2008 are as follows:

__________________2006______________2007____________________2008
Net income (loss) $63,500 $52,500 ($55,000)
Dividend distribution $25,000 $50,000 $35,000

Prepare journal entries on the books of Percy Company from the date of purchase through 2008 to account for its investment in Song Company under each of the following assumptions:
a. Percy Company uses the cost method to record its investment.
b. Percy Company uses the partial equity method to record its investment.
c. Percy Company uses the complete equity method to record its investment. The difference between book value of equity acquired and the value implied by the purchase price was attributed solely to an excess of market over book values of depreciable assets, with a remaining life of 10 years.

2. Park Company purchased 90% of the stock of Salt Company on January 1, 2002, for $465,000, an amount equal to $15,000 in excess of the book value of equity acquired. This excess payment relates to an undervaluation of Salt Company’s land. On the date of purchase, Salt Company’s retained earnings balance was $50,000. The remainder of the stockholders equity consists of no-par common stock. During 2006, Salt Company declared dividends in the amount of $10,000, and reported net income of $40,000. The retained earnings balance of Salt Company on December 31, 2005, was $160,000. Park Company uses the cost method to record its investment.

Prepare a general journal form the workpaper entries that would be made in the preparation of a consolidated statements workpaper on December 31, 2006.

3. At the beginning of 1999, Presidio Company purchased 95% of the common stock of Succo Company for $494,000. On that date, Succo Company’s stockholders equity consisted of the following:
Common stock $300,000
Other contributed capital $100,000
Retained earnings $120,000
Total $520,000
During 2007, Succo Company reported net income of $40,000 and distributed dividends in the amount of $19,000. Succo Company’s retained earnings balance at the end of 2006 amounted to $160,000. Presidio Company uses the equity method

Prepare in general form the workpaper entries necessary in the compilation of consolidated financial statements on December 31, 2007. Explain why the partial and complete equity methods would result in the same entries in this instance.

4. Poco Company purchased 85% of the outstanding common stock of Serena Company on December 31, 2006, for $310,000 cash. On that date, Serena Company’s stockholder’s equity consisted of the following:

Common stock $240,000
Other contributed capital $55,000
Retained earnings $50,000
Total $345,000

During 2009, Serena Company distributed a dividend in the amount of $12,000 and at year-end reported a net loss of $10,000. During the time that Poco Company has held its investment in Serena Company, Serena Company’s retained earnings balance has decreased $29,500 to a net balance of $20,500 after closing on December 31, 2009. Serena Company did not declare or distribute any dividends in 2007 or 2008. The difference between book value and the value implied by the purchase price relates to goodwill.
a. Assume that Poco Company uses the equity method. Prepare in general journal form the entries needed in the preparation of a consolidated statements workpaper on December 31, 2009. Explain why the partial and complete equity methods would result in the same entries in this instance.
b. Assume that Poco Company uses the cost method. Prepare in general journal form the entries needed in the preparation of a consolidated statements workpaper on December 31, 2009
Customer: replied 5 years ago.
Amol,

Let me check into this. I think some of the sample questions are missing from this. I will let you know.

Thanks,
Frank
Expert:  Amol srivastava replied 5 years ago.
Hi Frank,

Long time no hear :). Are you gonna provide me some other details or should I continue working on these questions only.

Regards
Amol.
Customer: replied 5 years ago.
<p>Hi Amol,</p><p> </p><p>Just continue working on what you have. If you can have these to me by Sunday it would be great.</p><p> </p><p>Thank you,</p><p>Frank</p>
Customer: replied 5 years ago.
<p>Hi Amol,</p><p> </p><p>Sorry to bug you but what is the status on the problems I have assigned you? Please let me know if you can have everything done by Sunday.</p><p> </p><p>Thank you,</p><p>XXXXX XXXXX</p>
Expert:  Amol srivastava replied 5 years ago.
I'm sorry I have been a bit busy lately. I will be able to complete only 5-7 by tommorrow. You can list the others as a seperate psot if you want.
Customer: replied 5 years ago.
That's fine. Pleae work on what you can. Thank you!
Expert:  Amol srivastava replied 5 years ago.
Here you go click here
Customer: replied 5 years ago.
<p>Amol,</p><p> </p><p>I believe I sent you 11 problems to work on. I don't know what happened but I don't see any of the solutions. Can you please resend the link for the solutions #1-11?</p><p> </p><p>Thank you,</p><p>Frank</p>
Expert:  Amol srivastava replied 5 years ago.
THIS ANSWER IS LOCKED!
You can view this answer by clicking here to Register or Login and paying $3.
If you've already paid for this answer, simply Login.
Customer: replied 5 years ago.
<p>Amol,</p><p> </p><p>I just need some clarification. I did send you problems #1-11. You were only able to provide answers for 7 out of the 11? </p><p> </p><p>Frank</p>
Expert:  Amol srivastava replied 5 years ago.
Yes.
Customer: replied 5 years ago.
<p>Thanks for everything! I really appreciate. Please send me a reminder tomorrow to pay you for your services. I need to study these problems and solutions. </p><p> </p><p>Frank</p>
Expert:  Amol srivastava replied 5 years ago.
No rush just review your answers and let me know in case of doubts.
Customer: replied 5 years ago.
Hi Amol,

I will be sending you some rush problwems to work on tomorrow. Can you let me know if you can have them done by Sunday? I would really appreciate this.

Thanks,
Frank
Expert:  Amol srivastava replied 5 years ago.
send them and i'll have a look
Customer: replied 5 years ago.
Amol,

I have Microsoft Word 2007 which saves the files in docx. form. I will try to get to a computer that has the old 2003 version so I can send you the problems tomorrow.

Frank
Customer: replied 5 years ago.
Thanks!
Customer: replied 5 years ago.
Hi Amol,

Please let me know if you will be able to complete them by Sunday.

Thank you,
XXXXX XXXXX

JustAnswer in the News:

 
 
 
Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
 
 
 

What Customers are Saying:

 
 
 
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
< Last | Next >
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex Los Angeles, CA
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP Hesperia, CA
  • I couldn't be more satisfied! This is the site I will always come to when I need a second opinion. Justin Kernersville, NC
  • Just let me say that this encounter has been entirely professional and most helpful. I liked that I could ask additional questions and get answered in a very short turn around. Esther Woodstock, NY
  • Thank you so much for taking your time and knowledge to support my concerns. Not only did you answer my questions, you even took it a step further with replying with more pertinent information I needed to know. Robin Elkton, Maryland
  • He answered my question promptly and gave me accurate, detailed information. If all of your experts are half as good, you have a great thing going here. Diane Dallas, TX
 
 
 

Meet The Experts:

 
 
 
  • Manal Elkhoshkhany

    Tutor

    Satisfied Customers:

    4522
    More than 5000 online tutoring sessions.
< Last | Next >
  • http://ww2.justanswer.com/uploads/BU/BusinessTutor/2012-2-2_115741_Kouki2.64x64.jpg Manal Elkhoshkhany's Avatar

    Manal Elkhoshkhany

    Tutor

    Satisfied Customers:

    4522
    More than 5000 online tutoring sessions.
  • http://ww2.justanswer.com/uploads/ComputersGuru/2010-02-13_051118_Photo41.JPG LogicPro's Avatar

    LogicPro

    Engineer

    Satisfied Customers:

    3458
    Expert in Java C++ C C# VB Javascript Design SQL HTML
  • http://ww2.justanswer.com/uploads/LI/lindaus/2012-6-10_04811_IMG20120609164157.64x64.jpg Linda_us's Avatar

    Linda_us

    Finance, Accounts & Homework Tutor

    Satisfied Customers:

    3124
    Post Graduate Diploma in Management (MBA)
  • http://ww2.justanswer.com/uploads/chooser77/2009-08-18_162025_Chris.jpg Chris M.'s Avatar

    Chris M.

    M.S.W. Social Work

    Satisfied Customers:

    2385
    Master's Degree, strong math and writing skills, experience in one-on-one tutoring (college English)
  • http://ww2.justanswer.com/uploads/JawaadAhmed/2009-6-27_12137_SIs_SHadi.jpg F. Naz's Avatar

    F. Naz

    Chartered Accountant

    Satisfied Customers:

    1988
    Experience with chartered accountancy
  • http://ww2.justanswer.com/uploads/JK/jkcpa/2011-1-16_182614_jkcpa.64x64.jpg Bizhelp's Avatar

    Bizhelp

    CPA

    Satisfied Customers:

    1876
    Bachelors Degree and CPA with Accounting work experience
  • http://ww2.justanswer.com/uploads/avremote/photoa.jpg Seanna's Avatar

    Seanna

    Tutor

    Satisfied Customers:

    1781
    3,000+ satisfied customers, all topics, A+ work
 
 
 

Related Homework Questions

Chat Now With A Tutor
Amol srivastava
Amol srivastava
Tutor
626 Satisfied Customers
CFA Level 3 candidate and Chartered Accountant from India