Mainly need help with note 1, 3 and 9! Image trans

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Mainly need help with note 1, 3 and 9! Image transcription textCase Question Today is March 15, 2022. Your partner called you, CPA, into her office todiscuss a new, special engagement. Your ?rm has been engaged to assist a group ofinvestors, led by John Keystone, with a business acquisition. John Keystone is int… Show more… Show moreImage transcription textEXHIBIT I PURCHASE PRICE AGREEMENT EXCERPTS The ?nal purchase price is to bedetermined based on using an earnings multiple approach, whereby the total net income forthe most recent ?scal year is multiplied by the earnings multiple as follows: Net I… Show more… Show moreImage transcription textEXHIBIT II FINANCIAL STATEMENTS BBI INC. BALANCE SHEET As at December 31(unaudited) Current assets 2021 2020 Cash 29,400 27,000 Temporary investments 120.000120.000 Accounts receivable 271.400 163.400 Employee receivable 70,000 45,0… Show more… Show moreImage transcription text EXHIBIT Ill NOTES FROM MEETING WITH JOI-IN KEYSTONE AND EMPLOYEES AT BBIINC. 1. In 2013, CES purchased a minor-league professional rugby franchise in Barrie and paid$800,000 in initial league fees. The rugby operations were immediately incorpor… Show more… Show moreImage transcription text6. Jonathan believes that the value of the franchise has increased over the years that BB1 hasowned the team. Consequently. Jonathan has asked the bookkeeper to increase the value ofthe franchise on the balance sheet each year to re?ect his estimate of the increa… Show more… Show moreImage transcription textJonathan got tired of waiting. On July 1, 2021, he took it upon himself to spend about$150,000 on improvements, which have been set up as a receivable. Since the work shouldhave been done by the city, he is now battling with the city to recoup this ‘receiva… Show more… Show moreMainly need help with note 1, 3 and 9! Accounting Business Financial Accounting MGA C01

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