Pell Company acquires 80% of Demers Company for $500,000 on January 1, 2019. Demers reported common stock of $300,000 and retained earnings of $210,000 on that date. Equipment was undervalued by $30,000 and buildings were undervalued by $40,000, each having a 10-year remaining life. Any excess consideration transferred over fair value was attributed to goodwill with an indefinite life. Based on an annual review, goodwill has not been impaired.Demers earns income and pays dividends as follows: 2019 2020 2021Net income$100,000 $120,000 $130,000 Dividends 40,000 50,000 60,000 ??Assume the initial value method is applied.?Compute the noncontrolling interest in Demers at December 31, 2020.
A. $126,000.
B. $148,200.
C. $109,200.
D. $149,600.
E. $106,000.
Answer: B
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The entry to record reimbursement of the petty cash fund for postage expense should include:
A. A debit to Petty Cash. B. A debit to Cash Short and Over. C. A debit to Postage Expense. D. A debit to Cash. E. A debit to Supplies.
Knowing your purpose enables you to ____ after you deliver your presentation
A) analyze your audience B) understand your audience's motivations C) evaluate the quality of data D) review the quality of visual aids E) assess your effectiveness
Within the data warehouse model, the external databases could include competitor information, industry information, and stock market analysis.
Answer the following statement true (T) or false (F)
Landfall ServiceLandfall Service is a lawn furniture company that has been around for many years. It is known for its ability to produce furniture more efficiently than any other company in the nation. In truth, no other companies in any other nation come close. Landfall Service has shipped many of its products internationally. In fact, 80 percent of its profits come from international sales. However, the Italian government has imposed a tax on imported furniture items to protect local companies. The Brazilian government, on the other hand, has imposed taxes on Landfall Service products due to the government wanting a piece of the pie.Landfall Service initially thought that these taxes were unfair because it was being singled out. However, after Landfall Service contacted the organization
that had the power to mediate this situation, the furniture company realized that the taxation it was subjected to was legal and that there was nothing it could do about it. ? Refer to Landfall Service. The Landfall Service does mostly A. mediating. B. domestic sales. C. importing. D. exporting. E. currency devaluation.