On January 1, 20X4, Plimsol Company acquired 100 percent of Shipping Corporation's voting shares, at underlying book value. Plimsol accounts for its investment in Shipping at cost. Shipping's retained earnings was $75,000 on the date of acquisition. On December 31, 20X4, the trial balance data for the two companies are as follows: Plimsol Co.Shipping Corp.ItemDebitCreditDebit Credit Current Assets$100,000 $75,000 Depreciable Assets (net) 200,000 150,000 Investment in Shipping Corp. 125,000 Other Expenses 60,000 45,000 Depreciation Expense 20,000 15,000 Dividends Declared 25,000 15,000 Current Liabilities $40,000 $25,000 Long-Term
Debt 75,000 50,000 Common Stock 100,000 50,000 Retained Earnings 150,000 75,000 Sales 150,000 100,000 Dividend Income, Shipping Corp. 15,000 $530,000 $530,000 $300,000 $300,000 Based on the information provided, what amount of total assets will be reported in the consolidated balance sheet prepared on December 31, 20X4?
A. $525,000
B. $425,000
C. $650,000
D. $630,000
Answer: A
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Which of the following is a characteristic of a sole proprietorship?
A) Ownership interests are nontransferable. B) Profits are taxed as income to the organization and again as income to owners. C) The lifetime of the organization is unlimited. D) Liability of the owners is limited to loss of capital contribution.
Surveyed 1,070 pharmaceutical sales representatives who worked in 185 sales teams. They found that leader empowerment
a. had positive effects on team potency under all levels of team interpersonal climate b. only had positive effects on team potency when team interpersonal climate was strong, otherwise it was nonsignificant c. only had positive effects on team potency when team interpersonal climate was weak (which was when the team most needed empowerment) d. had no effects on team potency
With the impending retirements of very talented senior staff, Katherine was concerned that PTO Inc., her employer, was not planning for the future. Spurred on by her concern, Katherine convinced management to budget and build a knowledge management system to create, acquire, store, and transfer knowledge in order to modify PTO's behavior to reflect new knowledge and insights. Two years later, Katherine was proud to reflect on her success in helping the company become a(n) ________ organization.
A. functional B. matrix C. network D. learning E. mechanistic