Which of the following is a category within accumulated other comprehensive income?
a. Gains and losses on sale of equipment
b. Foreign currency translation adjustments
c. Interest income and expense
d. Other income and expense
b
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What type of leadership is likely to be associated with a traditional, pyramidal top-down organizational structure?a. servant leadership b. autocratic leadership c. ethical/moral leadership d. none of these
a. servant leadership b. autocratic leadership c. ethical/moral leadership d. none of these
A producer that sells similar products through different channels under different brand names is engaging in multichannel distribution.
Answer the following statement true (T) or false (F)
Florida passes a tax that applies only to foreign ships that unload cargo at the ports of Miami and Tampa. This tax is:
a. unconstitutional; states must charge fees for the use of public facilities b. constitutional; it is related to benefits received c. constitutional; it only applies to foreign merchants, so it does not discriminate against interstate commerce d. constitutional so long as the federal government imposes a similar tax e. none of the other choices
Plum Corporation acquired 80 percent of Saucy Corporation's common shares on January 1, 20X7, at underlying book value. At that date, the fair value of the noncontrolling interest was equal to 20 percent of the book value of Saucy Corporation. Saucy prepared the following balance sheet as of December 31, 20X8: Cash$70,000 Accounts Payable$40,000 Accounts Receivable 60,000 Bonds Payable 50,000 Inventory 80,000 Common Stock 150,000 Buildings and Equipment 400,000 Additional Paid-In Capital 50,000 Less: Accumulated Depreciation (120,000) Retained Earnings 200,000 Total Assets$490,000 Total Liabilities and Equities$490,000 On January 1, 20X9, Saucy declares a stock dividend of 9,000 shares on its $5 par value common stock. The current
market price per share of Saucy stock on January 1, 20X9, is $20.Based on the preceding information, the investment elimination entry required to prepare a consolidated balance sheet immediately after the stock dividend is issued will include a debit to Retained Earnings for: A. $20,000 B. $155,000 C. $200,000 D. $65,000