Answer: From expenses within the Accounts & settings.
Explanation:
When using the copy to purchase order feature within an estimate, to turn on USE purchase orders you navigate to expenses under accounts and settings. When you get to the accounts and settings you would see the feature that shows "Expenses" tab. In the Purchase orders section, select the edit icon. Turn on the Use purchase orders options.
Answer:account and settings, expenses, purchase order
Explanation:
What is the real difference between riding English or riding Western?
Answer:
What’s the difference between Western and English riding?
What’s the difference between Western and English riding? At first glance, the most obvious difference between Western and English riding is the tack, and in particular the saddle, a Western saddle is much bigger and heavier than an English saddle.
Market research can help you strategize your _______ and _______ goals.
Primary research is more _______ than secondary research.
Your first marketing priority is to find out if you can _______ your product or services.
The grouping of people for marketing purposes is called _______.
Once you find out what people want, there’s a need to know the _______ for their choices.
Market research can help you strategize your business and marketing goals.
Primary research is more specific and tailored to your specific needs than secondary research.
Your first marketing priority is to find out if you can sell your product or services.
The grouping of people for marketing purposes is called segmentation.
Once you find out what people want, there's a need to know the motivations for their choices.
Market research plays a critical role in shaping business and marketing strategies by providing valuable insights into customer preferences, market trends, and competitive landscapes. It helps in identifying target markets, understanding customer needs, and developing effective strategies to achieve business and marketing goals.
By conducting research, businesses can gather data and information to inform their decision-making and ensure that their goals are aligned with customer expectations and market opportunities.
Primary research involves gathering firsthand data directly from the source, such as through surveys, interviews, or observations. It is more specific and focused on the unique needs and objectives of a particular study. Secondary research, on the other hand, involves using existing data and information from published sources.
While secondary research provides a broader understanding of a topic, primary research allows for more control and customization of the research process to address specific research objectives.
When launching a new product or service, one of the primary marketing priorities is to determine if there is a demand for it in the market.
Market research helps in assessing the viability and potential success of a product or service by gathering insights on customer preferences, needs, and market conditions. This information enables businesses to make informed decisions about product development, positioning, pricing, and marketing strategies.
Segmentation is the process of grouping individuals with similar characteristics or behaviors into distinct segments for marketing purposes.
By segmenting the market, businesses can target specific groups that are most likely to be interested in their products or services. Market segmentation allows for more personalized and targeted marketing strategies, resulting in better customer engagement and increased marketing effectiveness.
Once businesses identify what people want through market research, it becomes crucial to understand the motivations behind their choices. This involves delving deeper into the underlying reasons, preferences, and factors that drive consumer behavior.
By understanding the motivations behind consumer choices, businesses can tailor their marketing messages, product features, and overall customer experience to better align with customer needs and increase the chances of success in the market.
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Assume that on October 1st Lee Corporation purchases all of the assets of Kay Corporation for $510,000. All of the identifiable assets of Kay Corporation have a fair market value of $420,000, including the patent, which has a fair market value of $36,000. Also, a covenant not to compete for 3 years costing $72,000 is included in the purchase agreement.
Required:
a. If lee Corporation purchases the patent for $36,000, how much amortization expense may Lee Corporation deduct in the current year?
b. Assume that Lee Corporation purchases all of the assets of Kay Corporation for $510,000. All of the identifiable assets of Kay Corporation have a fair market value of $420,000, including the patent, which has a fair market value of $36,000. Also, a covenant not to compete for 3 years costing $72,000 is included in the purchase agreement. How much amortization expense may Lee Corporation deduct in the current year?
Answer and Explanation:
According to the scenario, computation of the given data are as follow:-
a) Assume Remaining life = 10 years
Corporation purchases the patent = $36,000
Current Amortization Value (October to December)
= (Purchase Value of Patent ÷ Remaining Life) × number of months ÷ total number of months in a year
= ($36,000 ÷ 10) × 3 months ÷ 12 months
= $3,600 × 3 months ÷ 12 months
= $900
Lee Corporation deducted $900 amortization expenses in the current year.
b).Goodwill
= Assets Purchasing Value of Kay Corporation - Assets Purchasing Fair Market Value of Kay Corporation
= $510,000 - $420,000
= $90,000
Assume amortization period is = 15 years as it is for trade or business
Current Amortization Value (October to December)
= (Goodwill + Fair Market Value of Patent + Costing of 3 Years ÷ Amortization Period) × number of months ÷ total number of months in a year
= ($90,000 + $36,000 + $72,000 ÷ 15) × 3 months ÷ 12 months
= $13,200 × 3 months ÷ 12 months
= $3,300
Lee Corporation deducted $3,300 amortization expenses in the current year.
7. In your own words, how is the price of a product determined?
Answer: Price is dependent on the interaction between demand and supply components of a market. Demand and supply represent the willingness of consumers and producers to engage in buying and selling. An exchange of a product takes place when buyers and sellers can agree upon a price.
Explanation:
Answer: Price is dependent on the interaction between demand and supply components of a market. Demand and supply represent the willingness of consumers and producers to engage in buying and selling. An exchange of a product takes place when buyers and sellers can agree upon a price.
Explanation:
(ANSWER ASAP!! GIVING BRAINLIEST IF CORRECT :))
Julianna has been asked to write an offer letter to Noah Camp, a new employee. What is the appropriate salutation for her to use?
A: Happy Friday, Noah,
B: Business letters don't use salutations.
C: Hey, Noah,
D: Dear Mr. Camp,
Julianna has been asked to write an offer letter to Noah Camp, a new employee. What is the appropriate salutation for her to use?
Dear Mr.Camp
I HOPE IT HELPS YOU
PLEASE MARK ME THE BRAINLIEST
A disadvantage of a partnership is that of ‘mutual agency’ which means:
Select one:
each partner must contribute the same capital and skills to the partnership.
each partner has the right to enter into contracts on behalf of the partnership.
each partner has limited liability for the debts incurred on a contract entered into by any other partner.
only the partner with the highest cash contribution has the right to enter into contracts on behalf of the partnership.
Answer:
each partner has the right to enter into contracts on behalf of the partnership. i think
Interventions strategies to reduce/prevent restrictions or barriers in small business
The interventions strategies to reduce/prevent restrictions or barriers in small business includes:
embargoimport quotasWhat are Trade restriction all about?A trade restriction is an artificial restriction on the trade of goods and/or services between two or more countries. It is the byproduct of protectionism.
The most direct barrier to trade is an embargo– a blockade or political agreement that limits a foreign country's ability to export or import. It still exist, but they are difficult to enforce and are not common except in situations of war. The most common barrier to trade is a tariff–a tax on imports.
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q Conflict Consequences 2 Difference between critical and Creative thinking. 3. Positive Use & Teisure time 41m Portance & Self Identity Svalues associated with creative Thinking
Critical thinking involves analyzing and evaluating information, while creative thinking involves generating new ideas and solutions. Positive use of leisure time includes engaging in activities that promote personal well-being, learning, self-improvement, socializing, and exploring new experiences.
Difference between critical and creative thinking:
Critical thinking is a cognitive process that involves analyzing and evaluating information or arguments in a logical and systematic manner. It focuses on objective analysis, reasoning, and problem-solving. Critical thinking requires the ability to question assumptions, recognize biases, and assess evidence to form well-reasoned judgments or decisions.
On the other hand, creative thinking involves generating new ideas, insights, or solutions. It is a process of divergent thinking, breaking away from conventional thoughts and exploring alternative perspectives.
Creative thinking often involves combining different ideas, making connections, and thinking outside the box. It encourages imagination, flexibility, and the ability to embrace uncertainty.
While critical thinking aims to assess and evaluate existing information or arguments, creative thinking aims to generate new possibilities or approaches. Critical thinking seeks to analyze and deconstruct, while creative thinking seeks to synthesize and construct.
Positive use of leisure time:
Leisure time refers to the period when individuals are free from work or other obligations and can engage in activities of their choice. Positive use of leisure time involves engaging in activities that contribute to personal well-being, growth, and fulfillment. Here are some examples:
Pursuing hobbies and interests: Engaging in activities such as painting, playing a musical instrument, gardening, or sports can provide relaxation, personal enjoyment, and a sense of accomplishment.
Learning and self-improvement: Using leisure time to learn new skills, read books, take online courses, or engage in personal development activities can enhance knowledge, broaden perspectives, and foster personal growth.
Physical and mental well-being: Allocating leisure time for exercise, meditation, yoga, or other wellness activities promotes physical fitness, reduces stress, and enhances overall well-being.
Socializing and building relationships: Spending leisure time with family, friends, or participating in community activities helps foster social connections, build relationships, and strengthen support networks.
Exploring new experiences: Traveling, visiting museums, attending cultural events, or trying new cuisines broadens horizons, provides exposure to different cultures, and creates memorable experiences.
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assume that the reserve requirement is 20 percent, but banks voluntarily keep some excess reserves. a $1 million increase in new reserves will result in
A $1 million increase in new reserves will result in an increase in the money supply of less than $5 million.
What happens if the amount of excess reserves in the banking system rises?
A financial institution's excess reserves can be raised, improving its credit rating. Since the stored cash or deposit is not invested to provide higher profits, especially over the long term, higher excess reserves also result in higher opportunity costs.
Banks voluntarily retain some extra reserves notwithstanding the 20 percent reserve requirement. The money supply will increase by less than $5 million for every additional $1 million in new reserves.
Therefore, Increased excess reserves can increase a financial institution's credit rating.
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identify an advantage of having strategic plans made by a firm at all levels.
The business environment, the state of the economy, market potential, and competitor behavior are all taken into account by strategic plans.
What is in a strategic plan for firm planning?Taking into account both internal and external variables, a strategic plan evaluates the business's existing environment. Long-term objectives and targets are listed, along with the plans that will be used to attain them, in the paper. Or to put it another way, a business plan details a specific new project or an established business.
In strategic management, how does the corporate environment appear?It is speaking of the commercial setting. "The totality of all the forces, factors, and institutions that are external to and beyond the control of a particular corporate organization but that have a significant influence on the operation and development of such firms."
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If the amount of gasoline purchased per car at a large service station has a population of $15 and a population standard deviation of$4 then 99.73% of all cars will purchase between $3 and $27
The range between $3 and $27 is three standard deviations away from the mean.
Since we know that 99.73% of the data falls within three standard deviations of the mean, we can estimate that 99.73% of all cars will purchase gasoline between $3 and $27.
According to the given information, the population mean is $15, and the population standard deviation is $4.
This means that 99.73% of all cars will purchase gasoline within three standard deviations of the mean, using the empirical rule.
Therefore, we can use the empirical rule to estimate the percentage of cars that will purchase gasoline between $3 and $27.
The empirical rule is also known as the 68-95-99.7 rule, which states that:Approximately 68% of the data falls within one standard deviation of the meanApproximately 95% of the data falls within two standard deviations of the meanApproximately 99.7% of the data falls within three standard deviations of the mean.
To find the number of standard deviations that correspond to $3 and $27, we need to calculate the z-scores.
The z-score formula is given as:z = (x - μ) / σwhere z is the standard score, x is the value of the variable, μ is the population mean, and σ is the population standard deviation.
To find the z-score for $3, we plug in the values:z = (3 - 15) / 4z = -3To find the z-score for $27, we plug in the values:z = (27 - 15) / 4z = 3.
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If demand is not uniform and constant, then stockout risks can be controlled by: increasing the EOQ. spreading annual demand over more frequent, but smaller, orders. raising the selling price to reduce demand. adding safety stock. reducing the reorder point.
Answer: Adding safety stock
Explanation:
A stockout is when the orders of the customer for a particular product is more than the amount of inventory that is kept on hand and this leads to lost sales, and a negative impact on the long-term relationship with the customer.
Since the demand is not uniform and constant, then stockout risks can be controlled by adding safety stock. The safety stock is asimply the additional quantity of an item which is held in the inventory in order to help to reduce stockout risk.
number 53 934 is divisible by which of the following number brain
Answer:
The number 53,934 is divisible by the following numbers:
-1 --- 53.934 / 1 = 53.934
-2 --- 53,934 / 2 = 26,967
-3 --- 53.934 / 3 = 17.978
-6 --- 53.934 / 6 = 8.989
-89 --- 53,934 / 89 = 606
-101 --- 53,934 / 101 = 534
-178 --- 53,934 / 178 = 303
-202 --- 53,934 / 202 = 267
-267 --- 53,934 / 267 = 202
-303 --- 53.934 / 303 = 178
-534 --- 53,934 / 534 = 101
-606 --- 53.934 / 606 = 89
-8989 --- 53.934 / 8.989 = 6
-17978 --- 53.934 / 17.978 = 3
-26967 --- 53.934 / 26.967 = 2
-53934 ---- 53.934 / 53.934 = 1
QERFEWTDGFSETHWRSTGHBDRAEAGBHSWRTYH
Answer:
Explanation:na
The following information is available for Fenton Manufacturing Company at June 30:
Cash in bank account $ 11,455
Inventory of postage stamps $ 74
Money market fund balance $ 10,400
Petty cash balance $ 350
NSF checks from customers returned by bank $ 867
Postdated checks received from customers $ 791
Money orders $ 290
A nine-month certificate of deposit maturing on December 31 of current year $ 6,000 Based on this information, Fenton Manufacturing Company should report Cash and Cash Equivalents on June 30 of:_________.
Answer:
the Cash and Cash Equivalents on June 30 is $22,495
Explanation:
The computation of the Cash and Cash Equivalents on June 30 is given below:
Cash in bank account $ 11,455
Add: Money market fund balance $ 10,400
Petty cash balance $ 350
Money orders $ 290
Cash and Cash Equivalents $22,495
Therefore the Cash and Cash Equivalents on June 30 is $22,495
What are the three types of inherent value money can have?
A. Regulated, market, and face.
B. Intrinsic, market, and commodity.
.C. Intrinsic, market, and face.
D. Face, intrinsic, and commodity.
The three types of inherent value money can have are Intrinsic, market, and face. Option C
What is inherent value money about?Cash has an asset's value is determined by its intrinsic value. Instead of using the asset's actual market price, this metric is calculated objectively or through the use of a sophisticated financial model.
Other than its current exchange value for goods and services, it has no worth. Something is valuable in and of itself when it has inherent worth. A thing with intrinsic value is a goal in and of itself.
Hence, the value an entity has for what it is, as a goal, or in and of itself is known as intrinsic value.
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What is this app and how do you work it?
Answer:
Run it through the script
Explanation:
Answer:
Hello new user! Here on Brainly, you can ask questions that you may be struggling with on here, and students all around the world can answer your question, or you may find that your question has already been asked before and is on here. And you can answer questions and help others too! when you answer a question, you can earn points which you can use to ask questions. you can also earn badges such as the answer master badge. you can get this badge after answering 25 questions in any subject! or the history nerd badge, which I just got. You can get this badge when you answer 10 history questions. there are a total of 222 achievements you can earn! you can also move up different ranks which are: the beginner, helping hand, ambitious, virtuoso, expert, ace, and the last one, genius. you can learn more about the ranks by clicking the orange box directly under your username! You can also 'thank' people by clicking on the heart icon when an answer shows up, and rate it by clicking the stars at the bottom of the answer. You can also pick a 'brainliest' which is a little crown icon that only shows up when there are two answers. I don't think I am missing anything, but I may be! I hope this helps and you have a great time on brainly! Have a great day!
We are an intelligent species and the use of our intelligence quite properly gives us pleasure. In this respect the brain is like a muscle. When it is in use we feel very good. Understanding is joyous .
Explain whether it is an inductive or deductive argument. Identify the reasons, any assumptions and conclusion in the above argument. Then translate the argument into standard form
1. We are required to explain whether this argument is an inductive or deductive argument. It is a deductive argument.
A deductive argument states an existing theory or a general observation and then tests if the theory can be used to reach specific conclusions. It is unlike an inductive argument, which develops a theory or makes broad generalizations from specific observations.
2. In the argument above, the writer assumes that "we are an intelligent species" and concludes that "the use of our intelligence gives pleasure."
The writer also reasons that "the brain is like a muscle" whose use makes us to "feel very good."
The conclusion is that "the use of our intelligence gives pleasure."
3. The standard format of a deductive argument is as follows:
a) Premise:
Example: "We are an intelligent species."
b) Conclusion:
Example: "The use of our intelligence gives pleasure."
Thus, the above argument is a deductive argument, which starts with a theory or general observation and moves to specific conclusions.
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Fickel Company has two manufacturing departments—Assembly and Testing & Packaging. The predetermined overhead rates in Assembly and Testing & Packaging are $19.00 per direct labor-hour and $15.00 per direct labor-hour, respectively. The company’s direct labor wage rate is $21.00 per hour. The following information pertains to Job N-60: Assembly Testing & Packaging Direct materials $ 375 $ 39 Direct labor $ 168 $ 84 Required: 1. What is the total manufacturing cost assigned to Job N-60? (Do not round intermediate calculations.) 2. If Job N-60 consists of 10 units, what is the unit product cost for this job?
The total manufacturing cost assigned to Job N-60 is $ 696. If Job N-60 consists of 10 units, the unit product cost for this job is $111.00.
How to find the manufacturing costs ?Direct materials (Assembly + Testing & Packaging) = $375 + $39
= $414
Direct labor (Assembly + Testing & Packaging) = $168 + $84
= $252
Overhead applied (Assembly + Testing & Packaging) = $19 * 168 + $15 * 84 = $316 + $126
= $442
Total manufacturing cost = $414 + $252 + $442
= $1110
Unit product cost = Total manufacturing cost / Number of units
= $1110 / 10
= $111.00
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LEARNING OUTCOMES Occupational learning materials are organized for efficient use. Layout and presentation of learning materials are understood and used effectively. Technical language/ terminology is engaged with, and clarification sought if needed. ACTIVITY 4 Explain how you will find information on the different languages that people speak in your town. State which research tools you will use to do research on this topic?
To find information on the different languages spoken in your town, you can use research tools such as census data, community surveys, or local government records.
Why are community surveys important?Surveys may assist local governments in understanding where citizens stand on critical issues, how happy they are with city services, how successful the government is in satisfying resident goals, and what those priorities are in the first place.
The census offers a sufficient database for demographic data comparisons and forecasts, as well as social and economic elements of society.
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Suppose Alex and Becky are playing a game in which both must simultaneously choose the action Left or Right. The payoff matrix that follows shows the payoff each person will earn as a function of both of their choices. For example, the lower-right cell shows that if Alex chooses Right and Becky chooses Right, Alex will receive a payoff of 5 and Becky will receive a payoff of 5.
Becky
Left Right
Alex Left 6, 6 6, 3
Right 4, 3 5, 5
The only dominant strategy in this game is for___ to choose_____ .
The outcome reflecting the unique Nash equilibrium in this game is as follows:
Alex chooses______ and Becky chooses_______ .
Answer:
The only dominant strategy in this game is for__Alex_ to choose__Right___ .
The outcome reflecting the unique Nash equilibrium in this game is as follows:
Alex chooses__Right____ and Becky chooses__Left_____ .
Explanation:
The game theory of the Nash equilibrium achieves the optimal outcome of a game because Alex and Becky are not incentivized to deviate from their chosen strategies after considering the opponent's choice. Neither of these two players can increase their payoff by choosing an action different from their current strategic action. Thus, this action profile achieves a Nash equilibrium for the two players because there exists randomization in the game.
Arturo and Dina are married with two dependents. They enrolled in a qualified plan through the Marketplace at a cost of $2,700 per year. Their household income was $31,000. Their SLCSP premium is $3,600. What is their premium tax credit?
Answer:
$2,261
Explanation:
I calculated this tax credit using 2019 information:
household income = $31,000
household income as a % of poverty line = $31,000 / $25,100 = 123.5%
applicable percentage = 4.32%
required contribution = $31,000 x 4.32% = $1,339.20 ≈ $1,339
SLCSP = $3,600
SLCSP - required contribution = $3,600 - $1,339 = $2,261
$2,261 ≤ $2,700 (cost of qualified plan)
we must choose the lower between $2,261 and $2,700 ⇒ $2,261
define federal deposit insurance corporation.
Explain the meaning of environmental scanning. Illustrate with examples the
relevance of technological, political, economic, social, and regulatory environments
in the context of marketing strategy. How managers are involved in environmental
scanning?
Environmental scanning refers to the process of gathering and analyzing information about the external factors that can impact an organization's business environment.
Technological factors include advancements in technology, such as the rise of e-commerce, mobile applications, or automation, which can create new marketing channels or change consumer behaviors.
Political factors encompass government policies, regulations, and political stability that can impact marketing strategies. For example, changes in trade policies or regulations related to data privacy can influence international marketing activities.
Economic factors include economic conditions, such as inflation rates, exchange rates, or consumer purchasing power, which can affect consumer behavior and demand for products or services.
Social factors refer to societal trends, cultural norms, and consumer preferences that can influence marketing strategies. For instance, shifts in consumer values towards sustainability or increased focus on health and wellness can shape product development and advertising campaigns.
Regulatory factors involve laws and regulations that organizations must comply with, such as consumer protection laws or industry-specific regulations. These can impact marketing activities, advertising content, or product labeling.
Managers play a crucial role in environmental scanning. They are responsible for monitoring and analyzing the external environment, identifying relevant trends and potential opportunities, and making informed decisions based on the insights gained.
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Conrad, Incorporated recently lost a portion of its records in an office fire. The following information was salvaged from the accounting records.
Cost of Goods Sold $ 71,000
Work-in-Process Inventory, Beginning 12,900
Work-in-Process Inventory, Ending 10,200
Selling and Administrative Expense 18,000
Finished Goods Inventory, Ending 18,300
Finished Goods Inventory, Beginning ?
Direct Materials Used ?
Factory Overhead Applied 13,200
Operating Income 14,660
Direct Materials Inventory, Beginning 11,540
Direct Materials Inventory, Ending 6,420
Cost of Goods Manufactured 65,640
Direct labor cost incurred during the period amounted to 1.5 times the factory overhead. The Chief Financial Officer of Conrad, Incorporated has asked you to recalculate the following accounts and to report to him by the end of the day.
What is the amount of direct materials used?
The amount of direct materials used by Conrad, Incorporated is $29,940.
Calculating the cost of production:The cost of goods manufactured is given as the beginning WIP plus direct labor, materials, and overhead costs, less ending WIP.
When the cost of goods manufactured is given, it is possible to compute any missing entry (e.g. the cost of direct materials) from the above equation.
Data and Calculaitons:Work-in-Process Inventory, Beginning 12,900
Factory Overhead Applied 13,200
Direct labor = $19,800 ($13,200 x 1.5)
Work-in-Process Inventory, Ending 10,200
Computation of the Direct Materials Costs:Debit Credit
Work-in-Process Inventory, Beginning $12,900
Factory Overhead Applied 13,200
Direct labor 19,800
Direct materials 29,940
Cost of Goods Manufactured $65,640
Work-in-Process Inventory, Ending 10,200
Totals $75,840 $75,840
Thus, the amount of direct materials used by Conrad, Incorporated is $29,940.
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f the inflation rate was 2.60% and the nominal interest rate was 8.00% over the last year, what was the real rate of interest over the last year? Disregard cross-product terms; that is, if averaging is required, use the arithmetic average. Round intermediate calculations to four decimal places.
If the inflation rate was 2.60% and the nominal interest rate was 8.00% over the last year, the real rate of interest over the last year was 5.40%.
How to solve for the real rate of interestTo calculate the real rate of interest, we need to subtract the inflation rate from the nominal interest rate.
Real interest rate = Nominal interest rate - Inflation rate
Real interest rate = 8.00% - 2.60%
Real interest rate = 5.40%
Therefore, the real rate of interest over the last year was 5.40%.
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Economic demand is?
A. the amount of a good or service that consumers are willing and able to buy at one price.
B. the amount of a good or service that consumers are willing and able to buy at various prices.
C.the amount of a good or service that producers are willing and able to produce at various prices.
D. the amount of a good or service that consumers are willing but not able to buy at various prices.
Which of the following is correct?
The correct answer is B. Economic demand is the amount of a good or service that consumers are willing and able to buy at various prices.
It reflects the relationship between the price of a product and the quantity that consumers are willing to purchase at that price. Demand is influenced by factors such as price, consumer preferences, income levels, and availability of substitutes.
As the price of a product decreases, the quantity demanded generally increases, and vice versa, following the law of demand. The demand curve represents this relationship, showing the quantity of a good or service that consumers are willing and able to buy at different price points.
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Pace corporation acquired 100 percent of spin company's common stock on January 1, 20X9. Balance sheet data for the two companies immediately following the acquisition follow:
Item Pace Corporation Spin Company
Cash $30,000 $25,000
Accounts Receivable 80,000 40,000
Inventory 150,000 55,000
Land 65,000 40,000
Buildings and Equipment 260,000 160,000
Less: Accumulated Depreciation (120,000) (50,000)
Investment in Spin Company Stock 150,000
Total Assets $615,000 $270,000
Accounts Payable $45,000 $33,000
Taxes Payable 20,000 8,000
Bonds Payable 200,000 100,000
Common Stock 50,000 20,000
Retained Earnings 300,000 109,000
Total Liabilities and Stockholders’ Equity $615,000 $270,000
At the date of the business combination, the book values of Spin's net assets and liabilities approximated fair value except for inventory, which had a fair value of $60,000, and land, which had a fair value of $50,000. The fair value of land for Pace Corporation was estimated at $80,000 immediately prior to the acquisition.
1. Based on the preceding information, at what amount should total land be reported in the consolidated balance sheet prepared immediately after the business combination?
a. $130,000
b. $105,000
c. $115,000
d. $120,000
2. Based on the preceding information, what amount of total assets will appear in the consolidated balance sheet prepared immediately after the business combination?
a. $756,000
b. $735,000
c. $750,000
d. $642,000
3. Based on the preceding information, what is the differential associated with the acquisition?
a. $15,000
b. $21,000
c. $6,000
d. $10,000
4. Based on the preceding information, what amount of goodwill will be reported in the consolidated balance sheet prepared immediately after the business combination?
a. $0
b. $21,000
c. $6,000
d. $15,000
5. Based on the preceding information, what amount of liabilities will be reported in the consolidated balance sheet prepared immediately after the business combination?
a. $615,000
b. $406,000
c. $300,000
d. $265,000
Answer:
Pace Corporation and Spin Company
1. Land should be reported in the consolidated balance sheet as
a. $130,000
2. Total assets:
b. $735,000
3. The differential associated with the acquisition:
b. $21,000
4. Goodwill
b. $21,000
5. Amount of liabilities in the consolidated balance sheet:
b. $406,000
Explanation:
a) Data:
Item Pace Spin
Corporation Company
Cash $30,000 $25,000
Accounts Receivable 80,000 40,000
Inventory 150,000 55,000
Land 65,000 40,000
Buildings and Equipment 260,000 160,000
Less: Accumulated Depreciation (120,000) (50,000)
Investment: Spin Company Stock 150,000
Total Assets $615,000 $270,000
Accounts Payable $45,000 $33,000
Taxes Payable 20,000 8,000
Bonds Payable 200,000 100,000
Common Stock 50,000 20,000
Retained Earnings 300,000 109,000
Total Liabilities and Stockholders’
Equity $615,000 $270,000
b) Consolidated Balance Sheets
Item Pace Spin Total
Corporation Company Group
Cash $30,000 $25,000 $55,000
Accounts Receivable 80,000 40,000 120,000
Inventory 150,000 60,000 210,000
Land 80,000 50,000 130,000
Buildings and Equipment 260,000 160,000 420,000
Less: Accumulated
Depreciation (120,000) (50,000) (170,000)
Investment:
Spin Company Stock 150,000 0
Goodwill 21,000
Total Assets $630,000 $285,000 $786,000
Accounts Payable $45,000 $33,000 $78,000
Taxes Payable 20,000 8,000 28,000
Bonds Payable 200,000 100,000 300,000
Common Stock 50,000 20,000 50,000
Retained Earnings 300,000 109,000 300,000
Assets Revaluation 15,000 15,000 30,000
Total Liabilities and Stockholders’
Equity $630,000 $285,000 $786,000
c) Differential on acquisition = investment (of subsidiary) - net assets
= $150,000 - ($270,000 - 141,000) = $21,000
select all the reasons to keep your money in a financial institution
The reasons to keep your money in a financial institution are:
Safety - To keep your money safe from burglars.
Convenience - Its easy to get your money out of the ATM when you need it.
Growth - If you put your money in a savings account you can collect interest.
Security - Leaving your money in the bank will make sure that even if your money is stolen you can get it back
What are financial institution?Financial institutions are organizations that provide financial services to individuals, businesses, and governments. These institutions include banks, credit unions, investment companies, insurance companies, and other financial intermediaries.
Banks are perhaps the most well-known financial institutions. They provide a range of financial services, including checking and savings accounts, loans, mortgages, and credit cards. Credit unions are similar to banks, but are typically smaller and owned by their members.
Investment companies, such as mutual funds and exchange-traded funds (ETFs), allow individuals to invest in a variety of assets, such as stocks, bonds, and real estate, without directly owning those assets. Insurance companies offer various types of insurance, such as life insurance, health insurance, and auto insurance, to help individuals and businesses manage risk.
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select all the reasons to keep your money in a financial institution
Safety - To keep your money safe from burglars.
Convenience - Its easy to get your money out of the ATM when you need it.
Growth - If you put your money in a savings account you can collect interest.
Security - Leaving your money in the bank will make sure that even if your money is stolen you can get it back
None of the above
Which of the following is not true about amortization of Limited-Life Intangibles a. Amortize by systematic charge to expense over useful life. b. Credit asset account or accumulated amortization. c. Useful life should reflect the periods over which the asset will contribute to cash flows. d. Amortization should be cost less residual value. e. IFRS requires companies to assess the residual values and useful lives of intangible assets at least annually. f. None of the above
Answer:
Amortization of Limited-Life Intangibles:
f. None of the above
Explanation:
IFRS requires limited-life intangibles to be systemically amortized throughout their useful lives using either units of activity method or straight-line method. Intangibles are amortized to reduce their values as per use over their lifespan. Amortization is like depreciation, but depreciation is a term used for tangible assets, while amortization is used for intangible assets.