[jeff]

I’ve had a few requests for April/May Study Groups…March will be here before you know it.

In order to take an early April exam, you should begin studying…now. 🙂

Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

[Not a Quitter]

Spartan- I'm going with $258 as well. I do not like this question!

FAR- 85 I'm DONE!
BEC- 75
REG- 60,60,75
AUD- 74,74,83

CPAExcel used for BEC, AUD, REG
Exam Matrix used for FAR plus NINJA Blitz, cpareviewforfree and a little CPAExcel

[HopefulCPA0601]

@L Stevens – in consolidation, all dividends of subs are eliminated, and only parents are reported. Since parent owns >50% then they only report their dividends paid.

BEC: 65 - 79* - 84 DONE
AUD: 65 - 76 DONE
REG: 63 - 77 DONE
FAR: 65 - 63 - 67 - 69 - 73 - 71 - 83 DONE

Becker Notes & Flashcards, Wiley Test Bank, Ninja MCQ

[jrosen92770]

$258

Beg 20

Purch 330

Cogs 300

Ending 50

80% * 330 = $264/12*11 (Dec was not paid yet) = $242 plus beginning AP of $16.

Is this correct?

BEC - 5/26/2013 75
REG - 8/31/2013 82
AUD - 11/24/2013 74, 2/9/2014 92
FAR - 5/25/2014 85

NY CPA

[SpartanCPA]

$258,000 is correct!

AUD - 01/18/14 - 81
BEC - 05/29/14 - 85
FAR - 07/18/14 - 81
REG - 11/18/14 - 80

Becker CPA Review
NINJA Audio
Michigan State University

[ChristieF]

I got $258 as well.

Hi everybody! Decided I needed a break from bonds. Bleh. oh, and work 🙂

[LStevens225]

So because we eliminate the sub's stockholders equity accounts that is why we don't report dividends paid?

[Anonymous]

That's how I did it JRo

[HopefulCPA0601]

wait, how do you know that beginning AP of 16 was paid? the 16 is 80% of the 20 beg inventory. so i assumed that ending inventory * 80% is ending AP.

16,000 + 264,000 – X = 40,000 .. so X came out to 240K.

I understand how to get the 264K paid, but how do u know 16K was actually paid?

BEC: 65 - 79* - 84 DONE
AUD: 65 - 76 DONE
REG: 63 - 77 DONE
FAR: 65 - 63 - 67 - 69 - 73 - 71 - 83 DONE

Becker Notes & Flashcards, Wiley Test Bank, Ninja MCQ

[jrosen92770]

they pay always in 30 days.

BEC - 5/26/2013 75
REG - 8/31/2013 82
AUD - 11/24/2013 74, 2/9/2014 92
FAR - 5/25/2014 85

NY CPA

[SpartanCPA]

Damon Co. purchased 100% of the outstanding common stock of Smith Co. in an acquisition by issuing 20,000 shares of its $1 par common stock that had a fair value of $10 per share and providing contingent consideration that had a fair value of $10,000 on the acquisition date. Damon also incurred $15,000 in direct acquisition costs. On the acquisition date, Smith had assets with a book value of $200,000, a fair value of $350,000, and related liabilities with a book and fair value of $70,000. What amount of gain should Damon report related to this transaction?

AUD - 01/18/14 - 81
BEC - 05/29/14 - 85
FAR - 07/18/14 - 81
REG - 11/18/14 - 80

Becker CPA Review
NINJA Audio
Michigan State University

[jrosen92770]

Spartan – Changing my answer to $70k. I really need to review acquisitions again.

BEC - 5/26/2013 75
REG - 8/31/2013 82
AUD - 11/24/2013 74, 2/9/2014 92
FAR - 5/25/2014 85

NY CPA

[SpartanCPA]

Answer is $70,000

Dr: CAR $130,000

Dr: B/S Adjustment $150,000

Cr: Investment $210,000

Cr: Gain $70,000

AUD - 01/18/14 - 81
BEC - 05/29/14 - 85
FAR - 07/18/14 - 81
REG - 11/18/14 - 80

Becker CPA Review
NINJA Audio
Michigan State University

[CPANOVICE]

would you guys recommend using the Becker chapter outlines? I am using Becker self study but am unable to get a hold of the outlines for some reason. Many people on this board say the are a great resource.

FAR:TBD
REG:TBD
AUD:TBD
BEC:TBD

I am using Becker self study, ninja blitz and Wiley (I am using the paperback version of the testbank)

Brief overview of study method:
1. Skim through chapter quickly
2. Watch lecture videos
3. Take a lot of notes on what the lecturers emphasize
4. Complete half HW after lectures half after rewriting notes

[Anonymous]

@CPANovice, what version of Becker are you using now? Only the 2013 and newer versions have the Becker chapter outlines.

[CPANOVICE]

@Amor D..2012…Oh I went crazy looking for them all over on my software. I have heard they are very beneficial. 🙁

FAR:TBD
REG:TBD
AUD:TBD
BEC:TBD

I am using Becker self study, ninja blitz and Wiley (I am using the paperback version of the testbank)

Brief overview of study method:
1. Skim through chapter quickly
2. Watch lecture videos
3. Take a lot of notes on what the lecturers emphasize
4. Complete half HW after lectures half after rewriting notes

[Author]

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