Which of the following does the textbook give as an example of an off-price clothing store that has upgraded its appearance to become more customer-friendly and attractive?
a. J. C. Penney
b. Wal-Mart
c. Macy’s
d. Dillard’s
e. T. J. Maxx
e. T. J. Maxx
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Which of the following is least likely to affect the retained earnings balance?
a. Conversion of preferred stock into common stock b. Stock splits c. Treasury stock transactions d. Stock dividends
The US heavyweight motorcycles industry illustrates the issue of:
a. prohibited subsidies. b. safeguards against injuries. c. dumping. d. unfair imports.
On January 1, 20X8, Patriot Company acquired 100 percent of Stryder Company for $220,000 cash. The trial balances for the two companies on December 31, 20X8, included the following amounts: Patriot Corp.Stryder Corporation DebitCreditDebitCreditCash$50,000 $30,000 Accounts Receivable 60,000 40,000 Inventory 75,000 80,000 Land 60,000 40,000 Buildings and Equipment 300,000 120,000 Investment in Stryder Company 256,000 Cost of Goods Sold 270,000 170,000 Depreciation Expense 30,000 12,000 Other Expenses 80,000 63,000 Dividends
Declared 40,000 15,000 Accumulated Depreciation $120,000 $48,000 Accounts Payable 50,000 27,000 Mortgages Payable 100,000 25,000 Common Stock 200,000 100,000 Retained Earnings 200,000 70,000 Sales 500,000 300,000 Income from Subsidiary 51,000 $1,221,000 $1,221,000 $570,000 $570,000 On the acquisition date, Stryder reported net assets with a book value of $170,000. A total of $10,000 of the acquisition price is applied to goodwill, which was not impaired in 20X8. Stryder's depreciable assets had an estimated economic life of 10 years on the date of combination. The difference between fair value and book value of tangible assets is related entirely to buildings and equipment. Patriot used the equity method in accounting for its investment in Stryder. Analysis of receivables and payables revealed that Stryder owed Patriot $10,000 on December 31, 20X8.Based on the information provided, what amount of total assets will be reported in the consolidated balance sheet for the year? A. $801,000 B. $723,000 C. $895,000 D. $1,111,000
Kalua and Anahi discussed a recent story they had read in an online news feed. Kalua said he was going to post a comment but decided not to when he realized he could not remove his comment after it was posted. Anahi said she was concerned about whether the article was real news or fake news and how it would affect the individuals in the story. Kalua said he wondered what the possibility was of having the story removed if it was fake news. Anahi wondered if it could be removed if it was true, because it was really a personal matter between the individuals and should not have been published. Later in the day Kalua called Anahi and said that he had read another article that said under one of the U.S. Constitution Amendments, it was almost impossible to have stories removed from the Internet
and that people in the U.S. lack the "right to be forgotten" except in rare circumstances. Which Amendment to the U.S. Constitutional affects the rights of individuals to be forgotten on the Internet? A. First Amendment B. Second Amendment C. Fifth Amendment D. Tenth Amendment