On January 1, 20X8, Package Company acquired 80 percent of Stamp Company's common stock for $280,000 cash. At that date, Stamp reported common stock outstanding of $200,000 and retained earnings of $100,000, and the fair value of the noncontrolling interest was $70,000. The book values and fair values of Stamp's assets and liabilities were equal, except for other intangible assets which had a fair value $50,000 greater than book value and an 8-year remaining life. Stamp reported the following data for 20X8 and 20X9: Stamp Corporation Year Net Income Comprehensive Income Dividends Paid 20X8 $ 25,000 $ 30,000 $ 5,000 20X9 35,000 45,000 10,000 Package reported net income of $100,000 and paid dividends of $30,000 for both the years. Based on the preceding information, what is the amount of comprehensive income attributable to the controlling interest for 20X8?
Answers
Answer:
Comprehensive income attributable to the controlling interest for 20X8 is $119,000
Explanation:
Stamp Corporation
Year Net Income Comprehensive Income Dividends Paid 20X8 $ 25,000 $ 30,000 $ 5,000
20X9 $35,000 $45,000 $ 10,000
The amount of comprehensive income attributable to the controlling interest for 20X8 ;
Comprehensive income of Stamp Corporation = $30,000
Less: Annual amortization of intangible assets acquired on acquisition (50000/8) = $6,250
Comprehensive income of Stamp Corporation after adjustment = $23,750
Income attributable to controlling interest = 80% × $23,750 = $19,000
Net income of Package Company = $100,000
Comprehensive income attributable to the controlling interest = Income attributable to controlling interest + Net income of Package Company
= $19,000 + $100,000
= $119,000
Related Questions
Which person's life is the best example of wellness? Martin: Studies with friends, does community service, takes pills to go to sleep, and makes friends in class Norman: Drinks plenty of water, skips breakfast to lose weight, keeps a regular study schedule, and reads ahead in classes. Olivia: Drinks plenty of water, skips breakfast to lose weight, has a family dinner every week, and studies with a tutor. Patricia: Goes to the gym, enjoys time with friends, takes extra courses, and reads for enjoyment Norman Olivia Martin Patricia
Answers
Answer:
Patricia has the best wellness so far
Explanation:
Martin: studies with friends, communicating with others? good. Community service? yes, you want to help others. sleeping pills? not healthy, you want genuine sleep. Not forcing yourself to sleep. You might get addicted, that's not good, isn't it?
Norman: Drinking lots of water? good. Skipping breakfast? not good, you still want to eat breakfast, studies say that breakfast is the most important meal of the 3. studying? yeah, and a regular schedule is good. Reading ahead of class? so and so. It's good because you know everything in advance. But what if you miss something? Like the teacher says, oh, we're canceling the test. You study day after day and find out you don't even need to study. That's a waste of time.
Olivia: plenty of water is good. Skipping breakfast again? Not really good. Having family dinners every week? Yeah, Family is important too. Studying with a tutor? Mhm, You should get help if your behind in class.
Patricia: going to the gym? Good exercise, and healthy for your body. Enjoying times with friends? Friends are important in times of need. So yeah, good too. Taking extra courses? yeah, it's important to know what you want to do in the future, or just for fun! No harm at all.
Martin, Norman, and Olivia have just a little problem that they need to fix. Patricia? She's the one.
Use this image to answer the following question. The ice cream shop
wants to produce mostly chocolate ice cream
wants to produce mostly strawberry ice cream
would operate inefficiently if it produced 6 gallons of both flavors
is most efficient when it produces 2 gallons of strawberry ice cream
Answers
The ice cream shop would operate inefficiently if it produced 6 gallons of both flavors.
The graph shown is known as the production possibility curve. It is a curve that shows the two combination of goods that a firm can produce given the firm's resources.
Points on the curve show that the firm is producing efficiently. This points on the graph given are points B, D, and C. The most efficient point on the curve is D. This is because it is at this point that the highest units of both flavors are produced.
Point X is not attainable. This is because it is outside the curve. It means that the company does not have enough resources to produce at this point.
Point A means that the firm is not producing efficiently. It is not fully utilizing its resources. Point A means the company is producing 6 units of chocolates and strawberry.
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In two to three sentences, answer the following:
What is the most important information you need to receive a stock quote?
What information you can obtain from a stock quote?
Answers
The most important information needed to receive a stock quote is the ticker symbol of the specific stock.
From a stock quote, you can obtain various information about the stock, including the current price of the stock, the trading volume (number of shares traded), the bid and ask prices (the prices at which buyers are willing to buy and sellers are willing to sell), the day's high and low prices, the previous close price, and the percentage change in price from the previous trading session.
Additionally, some stock quotes may provide additional data such as the company's market capitalization, dividend yield, and earnings per share.
Stock quotes provide a snapshot of a stock's performance in the market and are important for investors to make informed decisions regarding buying or selling stocks. They allow investors to track the price movements and trends of a particular stock and assess its potential value and risks.
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7. During January 2005, an Italian invested in the Italian stock market and earned a return of 1.47%. During the same month, an American investor investing in the Italian stock market earned a return of –2.358%.
Answers
Answer:
Escreva a expressão algébrica correspondente a cada sentença abaixo descrita.
a) O quadrado de um número real x.
b) O cubo de um número real y.
c) O triplo de um número adicionado ao dobro de um número k.
d) A terça parte de um número real diminuído 7.
Explanation:
Escreva a expressão algébrica correspondente a cada sentença abaixo descrita.
a) O quadrado de um número real x.
b) O cubo de um número real y.
c) O triplo de um número adicionado ao dobro de um número k.
d) A terça parte de um número real diminuído 7.
At Herbal Tea Inc., a team of IT workers uses applied math to help the company budget advertising dollars across its entire market. The formulas these employees use indicate the optimal ways to allocate spending so that the company achieves maximum potential. What form of business analytics is this company using
Answers
Answer:
Prescriptive method
Explanation:
The prescriptive methods are the last stage of analyzing the data on which the results are based. It can be done by using business rules, algorithms, etc
Based on this it is easy for the company to understand it and according to that, the decisions are taken. It also involves structured and unstructured data so that it makes efficient use without compromising the quality
Therefore according to the given situation, it is mentioned that there are efficient ways of distributing the spending in order to accomplish the maximum potential
Hence, it is the form of prescriptive method
The US Senate overwhelmingly passed the 2022 Defense Authorization Act. The $768 billion "Defense Authorization Act" not only exceeds the defense spending proposed by the Biden administration by $25 billion, but also increases the US defense budget by about 5% compared to last year.
Answers
The US Senate passed the 2022 Defense Authorization Act, a $768 billion bill that surpasses the Biden administration's defense spending proposal by $25 billion and represents a 5% increase in the US defense budget compared to the previous year.
1. The US Senate passed the 2022 Defense Authorization Act.
2. The Defense Authorization Act is a bill that determines the budget and expenditures for the US defense sector.
3. The total amount allocated for the Defense Authorization Act is $768 billion.
4. The defense spending proposed by the Biden administration was exceeded by $25 billion in this Act.
5. The Act represents a 5% increase in the US defense budget when compared to the previous year.
6. This increase in the defense budget indicates a commitment to strengthening the country's defense capabilities.
7. The Act was passed overwhelmingly, indicating strong support from the Senate.
8. The Defense Authorization Act is an essential piece of legislation that ensures the funding and resources necessary for the US military to carry out its operations effectively.
9. The Act covers various aspects of defense spending, including military personnel, equipment, research and development, and strategic initiatives.
10. By passing the Defense Authorization Act, the US Senate has demonstrated its commitment to national security and defense preparedness.
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According to the above material, there exist large differences between economic growth rate using traditional expenditure approach and the satellite night-light data. How do you evaluate the night-light data method? and can you identify several reasons why there exists such differences?
Answers
The use of satellite night-light data as a method to evaluate economic growth has both strengths and limitations. Reasons for Differences between Traditional Expenditure Approach and Night-light Data: Informal Economy, Data Limitations, Urbanization Bias and Structural Changes.
Here is an evaluation of the night-light data method and several reasons for the differences observed between the traditional expenditure approach and the night-light data:
Evaluation of the Night-light Data Method:
Objective and Timely: Satellite night-light data provides an objective and timely measure of economic activity. Wide Coverage: Night-light data can cover large geographical areas, including remote and inaccessible regions. Granularity: The data can be analyzed at a fine-grained level, allowing for detailed spatial analysis of economic patterns. This can help identify pockets of growth and disparities within regions.Reasons for Differences between Traditional Expenditure Approach and Night-light Data:
Informal Economy: The traditional expenditure approach relies on official economic data, which may not fully capture the informal sector. Data Limitations: Night-light data has its limitations. It primarily measures economic activity related to lighting, which may not capture other dimensions of economic growth such as services or knowledge-based industries. Urbanization Bias: Night-light data tends to be more representative of urban areas with higher population density and greater access to electricity. Structural Changes: The traditional expenditure approach focuses on consumption and investment, while night-light data primarily captures the energy consumption associated with lighting.For such more question on economic:
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True or False? The placement of a product within a store, or online, can determine the sales performance of that product.
Answers
Product Placement. a form of advertising in which name brand goods are placed in sports & entertainment programs. embedded marketing.
Answer:
true
Explanation:
A global brand is a brand marketed under the same name in multiple countries with similar and centrally coordinated marketing programs. However, adaptations of global brands are made:________.a. if required by government regulations in the host market and for no other reason.b. only in its initial introduction into a market and only until the brand is recognized.c. by domestic competitors causing brand confusion and loss of market share.d. only when necessary to better connect the brand to consumers in different markets.e. when there is a serious drop in market share.
Answers
Answer:
Option (D) is the correct answer to this question.
Explanation:
Global brand adaptations are made except when necessary to better communicate the brand to consumers from different markets because it has a particular market image. Global brands are brands that are widely recognized around the world.
Companies which intend to create global brands must do the following:
Classify the perceived attractiveness of your product in each sector. Carry out studies of attitude and usage in each region you are planning to enter.Other options are incorrect because they are not related to the given scenario.
Parks Corporation is considering an investment proposal in which a working capital investment of $10,000 would be required. The investment would provide cash inflows of $2,000 per year for six years. The working capital would be released for use elsewhere when the project is completed.
If the company's discount rate is 10%, the investment's net present value is closest to (Ignore income taxes):
a) $1,290 b) $(1,290) c) $2,000 d) $4,350
Answers
A Kubota tractor acquired on January 8 at a cost of $315,000 has an estimated useful life of 10 years. Assuming that it will have no residual value. a. Determine the depreciation for each of the first two years by the straight-line method. First Year Second Year $fill in the blank 1 31,500 $fill in the blank 2 31,500 b. Determine the depreciation for each of the first two years by the double-declining-balance method. Do not round the double-declining balance rate. If required, round your final answers to the nearest dollar.
Answers
Answer:
A. Year 2 $31,500
Year 2 $31,500
B. Year 1 = 63,000
Book Value of Tractor $252,000
Year 2 $ 50,400
Book Value of Tractor $201,600
Explanation:
a. Calculation to Determine the depreciation for each of the first two years by the straight-line method
Year 1 = $315,000 / 10
Year 1 = $31,500
Year 2 = $315,000 / 10
Year 2= $31,500
B) Calculation to determine the depreciation for each of the first two years by the double-declining-balance method
Based on the information given we are first going to calculate the percentage of depreciation using straight line method and then double it
Percentage = $ 315,000 *10%
Percentage=$31,500
Now let depreciation the book value each year by 20% Using the double-declining-balance method method
Year 1=20% of $ 315,000
Year 1= 63,000
Book Value=$315,000 - $63,000
Book Value= $ 252,000
Year 2= 20% of 252,000
Year 2 = $ 50,400
Book Value=$ 252,000 -$50,400
Book Value= $201,600
Computer equipment was acquired at the beginning of the year at a cost of $65,500 that has an estimated residual value of $4,900 and an estimated useful life of five years. Determine the (a) depreciable cost, (b) straight-line rate, and (c) annual straight-line depreciation.
Answers
Answer:
1. $60,600
2. 20%
3. $12,120
Explanation:
Given the data;
Cost = $65,500
Residual value = $4,900
Useful life = 5 years
Then,
1. Depreciable cost = Cost - residual value
= $65,500 - $4,900
= $60,600
2. Straight-line rate = 100 / Useful life
= 100 / 5
= 20%
3. Annual straight line depreciation = Cost - Residual value / Useful life
= ($65,600 - $4,900) / 5
= $60,600 / 5
= $12,120
Find the partial derivative of f(x, y) =x2y+sin x+cos y
Answers
Answer:
#CarryOnLearningHope it helps
List four job advertisements can be found
Answers
Answer:
tropical smoothie cafe
mcdonalds
dunkin doughnuts
starbucks
Explanation:
theres a whole lot more!!!!
Match the different activities to the responsibilities of relevant banks.
ll rights reserved
accepts deposits from people
regulates safe and lawful
operations
conducts nation's monetary policies
lends money through to consumers
and businesses
provides financial services to the
government
Federal Bank
Other Commercial Bank
Answers
The correct activities for federal and other commercial banks are:
accepts deposits from people - Other Commercial Bankregulates safe and lawful operations - Federal Bankconducts nation's monetary policies - Federal Banklends money through to consumers and businesses - Other Commercial Bankprovides financial services to the government - Federal BankHow are federal and other commercial banks different ?Banks play a crucial role in the economy by providing various financial services to the public and the government. The Federal Bank is responsible for conducting the nation's monetary policies, which includes setting interest rates, regulating the money supply, and maintaining price stability.
On the other hand, commercial banks, also known as Other Commercial Banks, are responsible for accepting deposits from people and lending money to consumers and businesses.
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Fast Freight, an interstate trucking company, has had to raise price three times in the past year, significantly reducing sales
Answers
There's an increase in the fuel price which led to the increase in operating cost of the Fast Freight.
What is operating cost?It should be noted that operating costs are the costs that are incurred by a business during production.
From the complete question, there's a increase in the fuel price which led to the increase in operating cost of the Fast Freight.
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Bank reconciliations
Answers
Answer:
When you reconcile your business bank account, you compare your internal financial records against the records provided to you by your bank. A monthly reconciliation helps you identify any unusual transactions that might be caused by fraud or accounting errors, and the practice can also help you spot inefficiencies.
Meaning:
A bank statement is a list of all transactions for a bank account over a set period, usually monthly. The statement includes deposits, charges, withdrawals, as well as the beginning and ending balance for the period.
An essay about umntu ngumntu ngabantu
Answers
what is selection of business.
Answers
In its first month of operations, Literacy for the Illiterate opened a new bookstore and bought merchandise in the following order: (1) 400 units at $7 on January 1, (2) 600 units at $10 on January 8, and (3) 930 units at $11 on January 29. Assume 1,130 units are on hand at the end of the month. Calculate the cost of goods available for sale, cost of goods sold, and ending inventory under the (a) FIFO, (b) LIFO, and (c) weighted average cost flow assumptions. Assume perpetual inventory system and sold 800 units between January 9 and January 28. (Round your intermediate calculations to 2 decimal places.)
Answers
Answer:
(a) FIFO
Cost of Goods Sold = $6,800
Ending Inventory = $12,230
(b) LIFO
Cost of Goods Sold = $7,400
Ending Inventory = $11,630
(c) weighted average cost
Cost of Goods Sold = $7,040
Ending Inventory = $11,990
Explanation:
Perpetual inventory method ensures that cost of sales and inventory value is determined after each and every transaction.
FIFO
This method assumes that the units to arrive first, will be sold first. This means the cost of sales is based on the earlier (old) prices and inventory valuation is based on recent (later) prices.
Cost of Goods Sold = 400 x $7 + 400 x $10 = $6,800
Ending Inventory = 200 x $10 + 930 x $11 = $12,230
LIFO
This method assumes that the units to arrive last , will be sold first. This means the cost of sales is based on the recent (later) prices and inventory valuation is based on earlier (old) prices.
Cost of Goods Sold = 600 x $10 + 200 x $7 = $7,400
Ending Inventory = 200 x $7 + 930 x $11 = $11,630
Weighted Average Cost Method
A new unit cost is calculated with each and every purchase made. This new unit cost is then used to determine the cost of goods sold and the value of inventory.
New Unit Cost - 8 jan = (400 x $7 + 600 x $10) ÷ 1,000 = $8.80
New Unit Cost - 29 jan = (200x $8.80 + 930 x $11) ÷ 1,130 = $10.61
therefore,
Cost of Goods Sold = 800 x $8.80 = $7,040
Ending Inventory = 1,130 x $10.61 = $11,990
A car dealer acquires a used car for $20,000, terms FOB shipping point. Additional costs in obtaining and offering the car for sale include: $120 for transportation-in. $130 for insurance during shipment. $710 for import duties. $140 for advertising. $1,000 for sales staff salaries. For computing inventory, what cost is assigned to the used car
Answers
Answer:
17,900
Explanation:
you just add them all together than subtract it from 20k
Answer:
Included in Inventory Cost:
Cost:20,000
Transportation in:120
Import Duties:710
Insurance during shipment:130
Expensed as incurred:
Advertisement:140
Sales Staff salaries:1,000
Explanation:
A fire captain informs the battalion chief that two seatbelts in a fire truck have become frayed. In the communication process what part are the frayed seatbelts part of? A. the message b. the receiver c. the sender d. the reporter
Answers
Option A. In the communication process, the frayed seatbelts part of the message.
What is the communication process?Four essential elements make up the communication process. These elements consist of encoding, transmission medium, decoding, and feedback. Two other components are involved in the process, and those two additional factors are represented by the sender and the recipient.
The act of successfully communicating involves a number of phases or acts, which are referred to as the communication process. It involves a number of elements, including the communicator, the message being sent, the message's encoding, the receiver, and the message's decoding.
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a company product sells for 170 and has variable cost of 50 associated with the product what is its contribution margin per unit ?
Answers
Answer:
Contribution margin per unit = 120 per unit
Explanation:
Given:
Sales price of a unit = 170
Variable cost per unit = 50
Find:
Contribution margin per unit
Computation:
Contribution margin per unit = Sales price of a unit - Variable cost per unit
Contribution margin per unit = 170 - 50
Contribution margin per unit = 120 per unit
Contribution margin ratio = [Contribution margin per unit / Sales price of a unit]100
Contribution margin ratio = [120 / 170]100
Contribution margin ratio = [0.7058]100
Contribution margin ratio = 70.58% (Approx.)
Blank and blank is another word for networking
Answers
E
Which is considered an administrative penalty that may be imposed by the ABC for violations?
O a. jail time
O b. restitution to victims
O c. imposition of license conditions
O d. community service
NEXT PAGE
Answers
Answer:
c is correct on
Explanation:
Option C. imposition of license conditions. is considered an administrative penalty that may be imposed by the ABC for violations.
What is an ABC violation?These are the violations that have to do with the fact that alcohol is sold to people that are considered as minors in the United States.
The violations may carry punishments such as jail time or it may require hours of community service.
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Kenya is enrolled in 14 credit hours this semester. Using the 2:1 rule, how many hours will she spend total on college schoolwork in class and on her own?
A. 7
B. 21
C. 28
D. 42
Answers
7 hours will she spend total on college schoolwork in class and on her own. Calculator for Credit Hours For a conventional 14-week course, each credit hour equates to at least 3 hours of weekly student involvement and to 6 hours for a 7-week course.
Discussions, lectures, readings, assignments, and research can all be done during this period. The amount of credit a student receives for successfully completing one contact hour and two preparation hours per week for a college semester is known as a semester credit hour (SCH). Regardless of the length of the course, one semester hour is equal to 15–16 contact hours.
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Euclid acquires a 7-year class asset on May 9, 2020, for $200,000 (the only asset acquired during the year). Euclid does not elect immediate expensing under §179. He does not claim any available additional first-year depreciation. Calculate Euclid’s cost recovery deduction for 2019 and 2020.
Answers
Answer:
2019 $28,580
2020 $48,980
Explanation:
Calculation to determine Euclid’s cost recovery deduction for 2019 and 2020.
2019 Cost recovery deduction=$200,000x.1429
2019 Cost recovery deduction= $28,580
2020 Cost recovery deduction= $200,000x.2449
Cost recovery deduction= $48,980
Therefore Euclid’s cost recovery deduction for 2019 and 2020 will be :
2019 $28,580
2020 $48,980
I NEED HELP!!!!
HELP ME PLEASE!!!
Answers
When retail workers leave the retail sector, equilibrium wages would increase and there would be an increase in the quantity of jobs available.
What happens when retail workers leave the retail sector?When retail workers leave for higher paying jobs, there would be a decrease in the supply of retail workers. This would shift the supply curve for retail workers to the left. As a result, there would be an increase in equilibrium wages and a decrease in number of retail workers.
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increases in total factor productivity (TFP) can generate sustained increases in per capita output
growth because increasing
TFP does not cause diminishing returns
TFP lowers the capital stock
TFP lowers human capital
TFP increases the population
Question 9
1 pts
Between 1980 and 2017,
both China and India experienced increased standards of living
India experienced increased standards of living but China did not
Neither India nor China experienced increased standards of living
China experienced increased standards of living but India did not
Answers
Answer:
TFP does not cause diminishing returnsboth China and India experienced increased standards of livingExplanation:
Total Factor Productivity (TFP) shows how much the economy is growing in excess of the inputs of labor and capital put into the productivity of the economy. It can therefore not be explained by the amount of inputs put into production because it is the part of productivity that is more than the productivity that should have been seen given the inputs put in.
Increasing it does not cause diminishing returns which means it can lead to a sustained increase in per capita output.
Both China and India have experienced growth in the living standards of their citizens from 1980 to 2017 with both of them seeing millions being pulled from poverty. China for instance, managed to reduce the number of poor people in the country from 400+ million in 1981 to 70 million in 2017.
Examples of cash equivalents include all of the following except:
a. U.S. Treasury bills.
b. notes issued by major corporations (referred to as commercial paper).
c. currency and coins.
d. long-term notes receivable.
Answers
Answer:
d. Long-term Notes Receivable.
Explanation:
Cash and cash equivalent are those financial instruments which can be converted into cash easily and within a short period of time. Cash and cash equivalent includes the treasury bills, commercial papers( notes issued by major corporation), bills, currencies and coins but it does not include the long term notes receivable.
All the equivalents are easy to convert to cash easily except the Long term notes receivables because it requires to wait for some long period before such note can be converted into money.