Why is cost accumulation simpler in a process costing system than it is in a job-order costing system?

Answers

Answer 1

Cost Accumulation or Process costing makes it easier to accumulate costs because costs can be allocated to departments rather than specific activities.

What is Cost Accumulation?

A formal cost accounting system is used to gather cost data throughout the process of cost accumulation. Management can make more informed judgments about the operations of an organisation by gathering and analysing cost information.

The two primary categories of cost accumulation systems are listed below:

(a) Job Costing Method:

A work cost system compiles the costs of supplies, labour, and overhead for specific jobs. It is made for manufacturing procedures that produce goods in smaller batches.

(b) Process System:

A process system assigns average costs to items after accruing costs by cost center. It is made for manufacturing procedures that produce lots of units over a long period of time.

Cost Accumulation or Process costing makes it easier to accumulate costs because costs can be allocated to departments rather than specific activities.

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Related Questions

Refer to the table below. Diminishing marginal returns set in with the addition of the.... Number of Units of
Workers Output 0 0 1 40 2 90 3 126
4 150
5 165
6 180 O 4th worker O 2nd worker O 1st worker O 3rd worker O 6th worker

Answers

Diminishing marginal returns set in with the addition of the 4th worker.

As we can see from the table, the addition of the first three workers leads to a significant increase in output (from 0 to 126). However, when the 4th worker is added, the increase in output is only 24 units, and when the 5th and 6th workers are added, the increase in output is even less (15 units). This phenomenon is known as diminishing marginal returns, where the marginal product of labor (i.e., the additional output produced by each additional unit of labor) decreases as more units of labor are added.

The point at which diminishing marginal returns set in is the point where the marginal product of labor begins to decrease, which in this case is with the addition of the 4th worker.

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Unscramble the vocabulary word from Chapter 12: pexnesse

Answers

Answer:

expenses

Explanation:

A scrambled word is a word that has been rearranged or jumbled, so its letters are not in the correct order. The purpose of unscrambling a word is to rearrange the letters back into their correct order to form a meaningful word. The scrambled word "pexnesse" can be unscrambled to form the word "expenses."

Expenses refer to the costs or expenditures incurred in the process of conducting business, managing personal finances, or carrying out various activities.

Expenses can include a wide range of items, such as bills, purchases, salaries, rent, utilities, taxes, and any other monetary outflows required to sustain operations or maintain a certain lifestyle.

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Do you believe that his message on that aspect of life is sound, biblically speaking? Explain. Your answer should reflect careful thinking.

Answers

Answer:

Shakespeare's message on that aspect of life is sound biblically speaking.

Explanation:

Because the way he mad Hamlet become over the story gives you a perspective on how events and change can form a person, and make them become something that they never were before.

Money you pay up front to reduce the amount you will owe is called a
A. fixed loan
B. late payment
C. down payment
D. short-term loan

Answers

Answer:

down payment

Explanation:

A down payment is money paid upfront in a financial transaction, such as the purchase of a home or car. Buyers often take out loans to finance the remainder of the purchase price.

Answer:

down payment

Explanation:

true or false?

websites are a good place to research companies before an interview

Answers

the answer is true

Explanation:

because sometimes other people can said that it is good or bad. so you can see if it is good or bad

Answer:

I would believe that this is true.

Explanation:

Especially now In the 21st century, we use the internet for a lot of things, and for good reason too. Websites are a great place to start off looking before an interview. Hope this helps!

which of the following (if any) is a legitimate criticism of the corruption perception index (cpi)?group of answer choicesthe cpi is based on the perceptions of business people and analysts which may not reflect the actual situation in the country.the cpi does not tell you anything about the type of corruption that exists in the country.both criticisms in other options are true.neither criticism is true

Answers

The legitimate criticism of the Corruption Perception Index(CPI) is the CPI depends on the view of financial specialists and analysts, which may not reflect the actual situation in the country.

The option (A) is correct.

The CPI is an estimation that positions nations in light of seen degrees of debasement inside their public areas. The information for the CPI is accumulated from reviews and evaluations finished by financial specialists, specialists, and examiners.

Since it depends on discernment as opposed to substantial proof, it is helpless to predispositions, and subjectivity, and may not give a precise impression of the genuine degree of defilement in a country. Hence, the analysis that the CPI depends on discernments that may not mirror what is happening in the nation is a legitimate concern.

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This question is not complete, Here I am attaching the complete question:

Which of the following (if any) is a legitimate criticism of the corruption perception index (cpi)?group of answer choices

(A) the cpi is based on the perceptions of business people and analysts which may not reflect the actual situation in the country.

(B) the cpi does not tell you anything about the type of corruption that exists in the country.

(C) both criticisms in other options are true.

(D) neither criticism is true

Carina spent a total of $5. 27 buying a pineapple for $3. 40 and some tomatoes that were on sale for $0. 85 per pound. To determine the number of pounds of tomatoes that she bought, x, Carina wrote and solved the equation as shown below. 3. 40 0. 85 x = 5. 27. 0. 85 x = 8. 67. X = 10. 2 pounds. Where, if anywhere, did Carina make an error? Carina did not make any errors. The initial equation that Carina wrote was incorrect. Carina should have subtracted 3. 40 from 5. 27. Carina should have divided 8. 67 by 0. 85.

Answers

The correct choice would be that Carina should have subtracted 3.40 from 5.27 which lead to wrong further calculation. So, the correct option from the quoted statement is B.

The calculation can be done to find the value of x after quoting the correct equation and solving by further using the simplification method.

Simplification of mathematical equation.

The computation of the amount of tomatoes can be done after assuming that the initial equation given is right.

With the given information, we can simplify further to find that,

\(3.40+0.85x = 5.27\\ \\ x= \dfrac{5.27-3.40}{0.85}\\ \\ x= 2.2\)

So, it is clear that Carina bought tomatoes worth 2.2USD

Hence, the correct choice is B, that Carina should have subtracted 3.40 from 5.27 to find the value of tomatoes bought.

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Posit Company has a financial relationship with Sparkle Inc. , a separate legal entity, but does not own any of Sparkle's voting stock. On January 1, 2020, Posit determines that Sparkle is a variable interest entity and that Posit is Sparkle's prime beneficiary. Sparkle's shareholders' equity on January 1, 2020 is as follows:


Capital stock $3,000


Retained deficit(500)


Total $2,500


Sparkle's net assets are reported at values approximating fair value, but it has previously unreported identifiable intangible assets valued at $7,000. The fair value of Sparkle at January 1, 2020 is $16,000.


Assume Posit and Sparkle were already under common control. On a January 1, 2020 consolidated balance sheet, the noncontrolling interest in Sparkle is reported at:


A. $0

B. $16,000

C. $ 2,500

D. $8,000

Answers

The correct option is B) 16,000. On January 1, 2020, consolidated balance sheet, the non-controlling interest in Sparkle is reported at $16,000.

Variable interest Entity in which control over other entities is achieved through arrangements that do not involve ownership or voting rights.

The variable interest entity is consolidated by the primary beneficiary which is the enterprise that has the power to direct significant activities of the Variable Interest entity. In the given question posit and sparkle are under common ownership. So consolidated financial statements will be done.

In case of a consolidation, the full value of unreported identified intangible assets will be shown in the balance sheet.

Now the fair value of the intangible assets is $16,000

Based on the general rule of consolidation entire $16,000 will be reported as goodwill.

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What are the key characteristics of a well-designed performance appraisal?
Select all that apply.

Focus on job-related tasks


Conducted by a trained manager


Based on company policy


Opportunities for employee feedback


Clear management feedback

Answers

The key characteristics of a well-designed performance appraisal include a focus on job-related tasks, being conducted by a trained manager, based on company policy, providing opportunities for employee feedback, and clear management feedback.

How can you describe the well-designed performance ?

Firstly, the performance appraisal should focus on job-related tasks to ensure that the evaluation is objective and fair. This means that the appraisal should measure employee performance against job-related criteria, such as job responsibilities, goals, and objectives.

Secondly, a well-designed performance appraisal should be conducted by a trained manager who has experience in conducting appraisals and who understands the company's policies and procedures for conducting them.

Thirdly, the appraisal should be based on company policy, ensuring that all employees are evaluated in a consistent and fair manner.

Fourthly, there should be opportunities for employee feedback, allowing employees to provide their input on their own performance and the appraisal process.

Finally, the appraisal should provide clear management feedback, including specific examples of areas where the employee has excelled, as well as areas where improvement is needed. This feedback should be constructive and provide guidance for the employee on how to improve their performance.

Overall, a well-designed performance appraisal should be fair, consistent, and provide valuable feedback to both the employee and the manager.

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If productivity increases significantly and demand is not very elastic, what is likely to happen?
A
B. Fewer workers will be needed.
C. Division of labor will decrease.
D. Demand will increase.
The number of consumers will increase.
Please select the best answer from the choices provided
A
OB
D

Answers

Answer:

B. Fewer workers will be needed.

Explanation:

Elastic demand refers to a flexible demand. It is a demand that can increases or decreases due to several factors. If demand is not elastic, it implies it is constant. An increase or decrease in output or price will not affect the quantity demanded.

An increase in productivity means an increase in output per worker. It is the increase in the number of units produced, per hour, per worker. An increase in productivity results in more output in a given period than previously.

If the demand is constant and there is an increase in productivity, only a few workers will be required. The output from the few workers will be high to meet the constant demand.

Answer:

B

Explanation:

Colleges are investing in golf facilities to boost programs and appeal to donors across sports. Which school is currently renovating or preparing to begin work on a new facility?

Answers

By the implementing appropriate solutions, such as adaptable educational space solutions and its infrastructure, the renovation helps school facility leaders reposition the outdated and ageing infrastructure for the future. Without careful planning, renovating a school can be difficult.

The renovation is characterised as any alteration to an existing structure, or to a part of a structure, which the disturbs painted surfaces. The skills needed today, such as those in science and technology, medical science, and other fields, are taught in the modern education infrastructure. In addition to listening, the modern education includes writing, visualising, imagining, and thinking skills.

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FILL IN THE BLANK. KNN is one of the simplest, yet most frequently used data mining techniques for classification when the response variable is ___________ and for prediction when the response variable is __________.

Answers

Answer:

categorical and numerical

Explanation:

In the wrong hands, which of the following pieces of personal information would present the greatest risk for identity
theft?
a. credit card number
b. date of birth
c.phone number
d. place of birth

Answers

Answer:

a

Explanation:

with a credit card number that can access you money, name, and your d.o.b

with a d.o.b they cant do anything bc a lot of ppl have the same birthday

phone number they cant do anything bc more than 1 person have the same number like if someones bill wasnt paid, they recycle the #.

place of birth a lot of ppl were born at the same hospital

In the wrong hands, the credit card number would present the greatest risk for identity theft.

What is credit card number?

A credit card number is a string of numbers that appears on the front of the card. Its purpose is to find out who owns the credit card and who owns the account. It also aids in fraud prevention.

With the credit card number, the name, and date of birth of any person can be detected. They can't accomplish anything with a date of birth because so many people share the same birthday.

The credit card number poses the biggest risk of identity theft in the wrong hands.

Therefore, option a is correct.

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Calculate China’s RGDP growth rate in 2006, the growth rate of real GDP per person in 2006 (using the approximation formula), and the approximate number of years it will take for real GDP per person in China to double if the 2006 economic growth and population growth rates are maintained.


China’s RGDP growth rate in 2006 was _______ percent. Round up your answer to the first decimal. China’s growth rate of real GDP per person in 2006 (using the approximation formula) was ______ percent. Round up your answer to the first decimal.


It will take China approximately _______ years to double its real GDP per person. Round up your answer to a full number (no decimals).

Answers

Answer:

China’s RGDP growth rate in 2006 was 8.2% percent. Round up your answer to the first decimal. China’s growth rate of real GDP per person in 2006 (using the approximation formula) was 7.7% percent. Round up your answer to the first decimal.

It will take China approximately 9 years to double its real GDP per person. Round up your answer to a full number (no decimals).

Explanation:

Note: This question is not complete. The complete question is therefore provided before answering the question as follows:

In 2005 China's RGDP was 7,394 billion yuan. In 2006 its RGDP was about 8,000 billion yuan. China's population was 1,306.6 million in 2005 and 1,313.1 million in 2006.

Calculate China's RGDP growth rate in 2006, the growth rate of real GDP per person in 2006 (using the approximation formula), and the approximate number of years it will take for real GDP per person in China to double if the 2006 economic growth and population growth rates are maintained.

China's RGDP growth rate in 2006 was _______ percent. Round up your answer to the first decimal. China's growth rate of real GDP per person in 2006 (using the approximation formula) was ______ percent. Round up your answer to the first decimal.

It will take China approximately _______ years to double its real GDP per person. Round up your answer to a full number (no decimals).

The explanation to the answer is now given as follows:

a. Calculate China’s RGDP growth rate in 2006. Round up your answer to the first decimal.

This can be calculated using the following formula:

China’s RGDP growth rate = (2006 RGDP - 2005 RGDP) / 2005 RGDP = (8,000 - 7,394) / 7,394 = 0.0820, or 8.2%

b. Calculate the growth rate of real GDP per person in 2006. Round up your answer to the first decimal.

This can be calculated using the following formula:

China’s RGDP per person growth rate = (2006 RGDP per person - 2005 RGDP per person) / 2005 RGDP per person ............... (1)

Where;

2006 RGDP per person = 2006 RGDP / 2006 population = 8,000 / 1,313.1 = 6.09245297387861 billion yuan

2005 RGDP per person = 2005 RGDP / 2005 population = 7,394 / 1,306.6 = 5.65896219194857 billion yuan

Substituting the values into equation (1) above, we have:

China’s RGDP per person growth rate = (6.09245297387861 - 5.65896219194857) / 5.65896219194857 = 0.077, or 7.7%

c. The approximate number of years it will take for real GDP per person in China to double if the 2006 economic growth and population growth rates are maintained. Round up your answer to a full number (no decimals).

To calculate this, the rule of 70 is used as follows:

Number of years for Real GDP per person to double = 70 / China’s RGDP per person growth rate = 70 / 7.7 = 9 years

Which among the 4 common errors that leads to unbalanced account is the HARDEST to resolve. Explain Why.

Answers

The common errors that leads to unbalanced account and are the easiest to resolve includes the error of Omission, Commission. Original Entry and Duplication.

In accounting, there are different type of error that could result to the unbalanced account, that is, leaving the Trial balance or Balance sheet unbalanced.

Generally, the recognized type of errors in accounting includes:

Error of Original EntryError of DuplicationError of OmissionError of Entry ReversalError of Principle Error of CommissionTransposition ErrorsRounding Errors etc

In conclusion, the common errors that leads to unbalanced account and are the easiest to resolve includes the error of Omission, Commission. Original Entry and Duplication because they are easy to correct.

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Find Lindsay Remson's total deposit for two checks of $112.54 and
$453.24 and cash of 3 one-dollar bills, 4 five-dollar bills, 7 ten-dollar
bills, 15 quarters, 12 dimes, 34 nickels, and 64 pennies. Less $10.00
cash received.

Answers

Answer: 649.78

Explanation: addition

What levels of risk does investing in the stock generally carry
medium
medium, high,
low, high
or low?

Answers

Low, high  levels of risk does investing in the stock generally carry. Over the long term, stocks have the highest potential for growth for investors. Investors who have chosen to hold onto stocks for an extended length of time—say let's 15 years.

Typically been rewarded with robust, profitable returns. Utilize your associated banking account to open a risk and trading account. Access that trading account. Choose the shares you want to purchase or sell. Make sure you have the necessary investing funds in your account to purchase the shares stocks. taking dividends in— Many stocks distribute dividends, which are based on the company's earnings per share.

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Which of the following is the term used to describe costs which change day to day, week to week and month to month based on business activities?

Answers

Answer:

Variable costs

Explanation:

Variable costs is the term that describes business costs that vary with the production level. An increase in output increases the variable costs. Variable costs are progressive and increase or decrease with the production volume.

Examples of variable costs include raw material and distribution costs. Variable costs contrast with fixed costs, which remain constant throughout a financial period.

Shirley and bob are married, receive social security benefits and file a joint tax return. What is the base amount with which 1/2 of their net social security benefits plus other income must be compared to determine the amount includible in income?.

Answers

FoIf you have joint salary from joint filing that is between $32,000 and $44,000, you will spend 50% of you social security income in taxes. If your combined income is beyond $44,000, you can anticipate.

What does "combine" mean?

amalgamated; merging. to put into such close closeness as to conceal individual characters (transitive verb): Merge is the result of two businesses joining forces. It causes a chemical combination to come together.

Whether to merge or combine?

combined, combining is a verb that is employed with an object. to connect or bring into a close union; combine: To make the cake, she mixed the ingredients together. The two businesses were merged. to have or display in combination: a strategy that incorporates the best elements of several other

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organizational culture refers to ________

Answers

Organizational culture refers to the proper way to conduct and behave within an organization.

Organizational culture refers to the way of behaving within organizations. The organizational culture involves the common beliefs, expectations, values, and practices established by the concerned authority that guide and direct the actions of employees working in the organization. A positive organizational culture is vital to establishing the characteristics necessary for the success of the organization.

Since positive organizational cultures provide a base for improved performance, there are multiple outcomes associated with them such as raising market shares,  improving organizational outcomes, boosting work attitude, making customers more satisfied, and increasing the financial performance of the business.

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Which of the following statements about the W-2 form is TRUE? A W-2 lists all the money you spent over the last year You need a separate W-2 form from EACH of your employers in order to file your taxes The W-2 includes information about the interest you earned from your investments The total earnings from ALL jobs you worked in the previous year appear on ONE W-2 for

Answers

Answer:

w2 from each of your employers in order to do your taxes

I think tank W-2 will be better than this task

Exercise 3-44 (Algorithmic) Revenue Expense and Recognition Carrico Advertising Inc. performs advertising services for several Fortune 500 companies. The following information describes Carrico's activities during 2019 a. At the beginning of 2019, customers owed Carrico $45,800 for advertising services performed during 2018. During 2019, Carrico performed an additional $696,700 of advertising services on account. Carrico collected $708,700 cash from customers during 2019. b. At the beginning of 2019, Carrico had $13,610 of supplies on hand for which it owed suppliers $8,150. During 2019, Carrico purchased an additional $14,600 of supplies on account. Carrico also paid $19,300 cash owed to suppliers for goods previously purchased on credit. Carrico had $2,230 of supplies on hand at the end of 2019. C. Carrico's 2019 operating and interest expenses were $437,600 and $142,400, respectively. Required 1. Calculate Carrico's 2019 income before taxes. 2. Calculate the ending balance of accounts receivable, the supplies used, and the ending balance of accounts payable. Enter all amounts as positive value%. Ending balance of accounts receivable Supplies used Ending balance of accounts payable

Answers

Carrico's income before taxes for 2019 is $129,590 and the ending balance of accounts receivable is $33,800.

To calculate the income before taxes, we need to determine the net income. Net income is calculated by subtracting total expenses from total revenues. In this case, Carrico's total revenues consist of the advertising services performed on account ($696,700) and the cash collected from customers ($708,700). The total expenses include operating expenses ($437,600) and interest expenses ($142,400).

Total Revenues = Advertising services performed on account + Cash collected from customers

Total Revenues = $696,700 + $708,700 = $1,405,400

Total Expenses = Operating expenses + Interest expenses

Total Expenses = $437,600 + $142,400 = $580,000

Net Income = Total Revenues - Total Expenses

Net Income = $1,405,400 - $580,000 = $825,400

Income Before Taxes = Net Income

Income Before Taxes = $825,400

The ending balance of accounts receivable is $33,800, the supplies used amount to $23,980, and the ending balance of accounts payable is $3,450.

The ending balance of accounts receivable is calculated by subtracting the cash collected from customers ($708,700) from the total accounts receivable at the beginning of the year ($45,800 + $696,700).

Ending Balance of Accounts Receivable = Total Accounts Receivable at the Beginning + Advertising Services on Account - Cash Collected from Customers

Ending Balance of Accounts Receivable = $45,800 + $696,700 - $708,700 = $33,800

The supplies used can be calculated by subtracting the ending balance of supplies on hand at the end of 2019 ($2,230) from the sum of supplies available (beginning balance + purchases on account).

Supplies Used = Supplies Available (Beginning + Purchases on Account) - Ending Balance of Supplies on Hand

Supplies Used = $13,610 + $14,600 - $2,230 = $26,980

The ending balance of accounts payable is determined by subtracting the cash paid to suppliers for goods purchased on credit ($19,300) from the sum of the beginning balance and purchases on account. Ending Balance of Accounts Payable = (Beginning Balance + Purchases on Account) - Cash Paid to Suppliers

Ending Balance of Accounts Payable = ($8,150 + $14,600) - $19,300 = $3,450

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When forming a business strategy, the firm needs to compare the cost advantages and drivers of uniqueness across its different activities and compare with that of other firms. True False

Answers

True I think don’t make and answer off me think harder about it

please help me!!! I literally have no clue what it is​

please help me!!! I literally have no clue what it is

Answers

Answer:

Critical Thinking,Mathematics, and Operation and Control.

Explanation:

A surface, such as a prep table, that touches food or from which food could drip or drain onto surfaces that touch food is
called a "food-splash surface."
True
False

Answers

Answer:

False

Explanation:

Food contact surface is what it is called

In business, a group of people who work together in an attempt to achieve some specific purpose is known as a(n)

Answers

Answer:

Organization

Explanation:

A group of people who work together to achieve some specific purpose.

If demand increases and supply remains constant

Answers

Answer:

The product would sell for more

how can you effectively deal with rude or inconsiderate customers

Answers

Dealing with rude or inconsiderate customers can be challenging, but there are a few strategies you can use to handle the situation effectively:

Stay calm and professional: When faced with a difficult customer, it's important to remain calm and professional in your interactions. Don't let their behavior get under your skin.

Listen actively: Listen carefully to what the customer is saying, even if they're being rude or aggressive. This shows that you value their input and are willing to work towards a solution.

Empathize with the customer: Show empathy by acknowledging the customer's frustration and apologizing for any inconvenience they may have experienced.

Offer a solution: Work with the customer to find a solution to their problem. If necessary, involve a manager or another team member to help come up with a resolution that satisfies both parties.

Know when to walk away: In some cases, it may be necessary to disengage from an interaction with a rude or abusive customer. If things become too heated or if the customer is making unreasonable demands, politely end the conversation and seek assistance from a supervisor or colleague.

Remember, dealing with difficult customers can be tough, but with patience, empathy, and a willingness to find a solution, you can turn a negative experience into a positive one.

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13. (Calculating financial​ ratios) The balance sheet and income statement for the J. P. Robard Mfg. Company are as​ follows: Calculate the following​ ratios:
Current ratio Operating return on assets
Times interest earned Debt ratio
Inventory turnover Average collection period
Total asset turnover Fixed asset turnover
Operating profit margin Return on equity
Question content area bottom
Part 1
The​ company's current ratio is ______ ​(Round to two decimal​ places.)

Answers

We divide current assets by current liabilities to get the current ratio.

The company has a current ratio of 1.93, which is rounded to the nearest two decimal places. Current assets equal $580,000, current liabilities equal $180,000, and current ratio equals $580,000 / $300,000 = 1.93. Current assets equal $200,000, $240,000, and $140,000, respectively.

What are Current Liabilities?

A company's current liabilities are debts or obligations that it is expected to pay off within a year or its operating cycle, whichever comes first. They include things like accounts payable, accrued expenses, taxes due, and short-term debt, and they represent the portion of a company's total liabilities that are due in the near future.

Current liabilities include the following:

Payments to be made: credit-card-purchased goods or services-related debt to suppliers.Charges accrued: salaries, interest, and rent, among other expenses, that have been incurred but have not yet been paid for.Taxes to be paid: owed to the government in income taxes.Transient obligation: Bank loans and commercial paper, for example, are examples of upcoming debt.

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On January 1, 20X9, Gold Rush Company acquires 80 percent ownership in California Corporation for $200,000. The fair value of the noncontrolling interest at that time is determined to be $50,000. It reports net assets with a book value of $200,000 and fair value of $230,000. Gold Rush Company reports net assets with a book value of $600,000 and a fair value of $650,000 at that time, excluding its investment in California. What will be the amount of goodwill that would be reported immediately after the combination under current accounting practice?  $50,000  $30,000  $40,000  $20,000

Answers

Therefore, the amount of goodwill that would be reported immediately after the combination is $50,000. The correct answer is not given in the options provided. Option 1 is Correct.

Any sum paid that exceeds the value of the net assets is regarded as goodwill. Goodwill is something that must be bought; it cannot be developed within a business. Keep in mind that a cheap purchase will harm your reputation. This happens when a buyer offers LESS than the net assets' fair market value.

In the event that goodwill has been evaluated and found to be impaired, the entire amount of the impairment must be promptly written down as a loss. A decline in the goodwill account on the balance sheet and a loss on the income statement are both indicators of an impairment.

Consideration transferred = $200,000

Fair value of noncontrolling interest = $50,000

Fair value of net assets acquired = $230,000 - (20% x $230,000) = $184,000

Goodwill = Consideration transferred + Noncontrolling interest - Fair value of net assets acquired

Goodwill = $200,000 + $34,000 - $184,000 = $50,000 (Option 1 is Correct.)

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Correct Question:

On January 1, 20X9, Gold Rush Company acquires 80 percent ownership in California Corporation for $200,000. The fair value of the noncontrolling interest at that time is determined to be $50,000. It reports net assets with a book value of $200,000 and fair value of $230,000. Gold Rush Company reports net assets with a book value of $600,000 and a fair value of $650,000 at that time, excluding its investment in California. What will be the amount of goodwill that would be reported immediately after the combination under current accounting practice?

1.  $50,000

2.  $30,000

3.  $40,000

4.  $20,000

Other Questions
11. Explain to your management why it is relevant to have the following Documents and show them what the team has produced: 11.A Scope of the Quality Management System (ISO 9001:2015 Clause 4.3) 11.B Quality Policy (ISO 9001:2015 Clause 5.2) 11.D Standard Operating Procedures (SOPs) 11.D.1 Documentation Policy (Show the documentation pyramid for your organization) 11.D.2 Organization Charts 11.D.2 Process Map (Flowchart) Kristina lent her friend $10,000 to start a business at a certain interest rate, compounded biannually. The function below represents the amount she will receive from her friend after x years.Which statement is true? A. The amount of money she will receive grows by 0.816% each year. B. The amount of money she will receive grows by 4% each year. C. The amount of money she will receive grows by 0.4% each year. D. The amount of money she will receive grows by 8.16% each year. Kelly lives in arkansas and works in the data division of acxiom corporation. acxiom has its headquarters in conway, arkansas. acxiom is incorporated in delaware, however, because of the corporate-friendly laws in that state. kelly works in a(n): What two numbers have a product of 10 and a sum of 7? An electric field is associated with every:____.a. position-dependent magnetic field.b. time-dependent magnetic field.c. conductor moving in a magnetic field.d. object moving in a magnetic field.e. magnetic field. What event would be involved in the formation of igneous rock?ResponsesA earthquake B volcanic eruptionC flood D mudslide Describe the characteristics of plants grown in desert or arid climates. Three baseball players are playing catch. Liam is directly west of Rose. Liam and Rose are 6 meters apart and Rose and Edgar are 10 meters apart. How far apart are Liam and Edgar? In the diagram, l1 is parallel to 2. Simplify (write each expression without using the absolute value symbol.)|x3|, if x the model -2x? + 5007 while Betaville's planner produced the model x? - 100x + 10,000. What expression gives how much greater Alphaville's annual budget surplus is than Betaville's for a particular amount of tax revenue? If the tax revenue that year in each town is $75,000, how much greater is Alphaville's budget surplus thanBetavilles that vear: A certain flow field is described in cylindrical coordinates by the stream function y = AO+Br sino where A and B are positive constants. Determine the corresponding velocity potential and locate any stagnation points in this flow field. For the stream function of =- 2(x)+ y, with units of m/s, determine the magnitude and the angle the velocity vector makes with the x axis at x = 1m, y = 2 m. Locate any stagnation points in the flow field Self-sacrifice when times get tough/there are threats to the organization? * 1 point 1oo PointsPlease hurry I'm very desperatePlease give me an essay about how the civil rights movement changed the nation(NO LINKS OR ELSE I WILL REPORT) Consider a program of 35 billion (10^(9)) instructions and a Pipelined MIPS processor with cycle time of 550x10^(-12) seconds. What is the total execution time (in seconds) with a CPI of 1.2 Please Help! I need good Anime to watch! Prepare a forecasted statement of cash flows for the company for 2020 assuming the following assumptions. Depreciation expense to start of year PPE, net 21.2% Amortization expense to start of year intangible assets, net 4.9% CAPEX to total net sales 1.8% Dividends to net earnings 33.5% The passage provides the first two paragraphs of anythony speech . How does anythony present her thesis in the speech How marketers face new challenges and opportunities in the digital age? A small metal block with dimensions of 5 cm 5 cm 5 cm is placed into a tub of water and sinks.a. What volume of water does the metal block displace?b. What mass of water does the metal block displace?c. What weight of water does the metal block displace?d. What is the buoyancy force on the metal block?