Contains all current AICPA content requirements in auditing and attestation Unique modular format-helps you zero in on areas that need work, organize your study program, and concentrate your efforts Comprehensive questions-over 3,800 multiple-choice questions and their solutions in the four volumes Covers the new simulation-style problems Includes over 90 simulations Guidelines, pointers, and tips-show you how to build knowledge in a logical and reinforcing way Wiley CPA Exam Review 2010 arms test-takers with detailed outlines, study guidelines, and skill-building problems to help candidates identify, focus on, and master the specific topics that need the most work. With 3,800 multiple choice questions and more than 90 simulations, these study guides provide all the information candidates need to master in order to pass the computerized Uniform CPA Examination.Ĭomplete sample exam in auditing and attestation The most effective system available to prepare for the CPA exam-proven for over thirty years Timely-up-to-the-minute coverage for the computerized exam.
Many of the questions are taken directly from previous CPA exams. Published annually, this comprehensive four-volume paperback reviews all four parts of the CPA exam. With 3,800 multiple choice questions and more than 90 simulations, these study guides provide all the information candidates need to master in order Everything Today's CPA Candidates Need to Pass the CPA Exam Delaney The 1 CPA exam review self-study leader The CPA exam review self-study program more CPA candidates turn to take the test and pass it, Wiley CPA Exam Review 39th Edition contains more than 4,200 multiple-choice questions and includes complete information on the Task Based Simulations. I notice it's often the bad questions that gets posted on these forums.īTW kate, both are True according to my book.Everything Today's CPA Candidates Need to Pass the CPA Exam Published annually, this comprehensive four-volume paperback reviews all four parts of the CPA exam. $132,000-$88,000 = $43,200 gain on sale of Newton and Sharman's portions that compose the 20% Sidney is purchasing.
However, Sidney is paying to Newton and Sharman $132,000 total for only an $88,000 share of the capital. Therefore, 20% x $444,000 = $88,000, which is the cost of what Sidney is purchasing. Of the current capital amount, Sidney is purchasing 20%. The question tells you that Sidney is purchasing a proportion of interest from Newton and Sharman, which means the total capital of $444,000 does not change. It doesn't add up to the answer but I may have done it wrong. Goodwill method is not used therefore, use the bonus method.Īnd I believe the problem is saying the remainder contributed by Sidney goes to Newton and Sharman. (1) Other comprehensive income maybe presented in the S of changes in stockholder's equity Assuming that implied goodwill is not to be recorded, what is the combined gain realized by Newton and Sharman upon the sale of a portion of their interests in the partnership to Sidney.Ģ. As a result of this transaction, Sidney acquired a one-fifth interest in the net assets and profits of the firm. On June 1, 2010, Sidney was admitted to the partnership when he purchased, for $132,000, a proportionate interest from Newton and Sharman in the net assets and profits of the partnership.
The capital accounts of the partnership of Newton, Sharman, and Jackson on June 1, 2010, are presented below with their respective profit and loss ratios. Topic: weird questions on wiley 2012 ( Topic Closed)ġ.
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