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 equity method is applied.?Compute the noncontrolling interest in Demers at December 31, 2021.
A. $160,800.
B. $165,200.
C. $107,800.
D. $146,800.
E. $140,000.
Answer: A
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A. 4 million B. 40 million C. 400 million D. 4 billion
In the process of reconciling its bank statement for April, Donahue Enterprises' accountant compiles the following information: Cash balance per company books on April 30$6230?Deposits in transit at month-end$1390?Outstanding checks at month-end$710?Bank charge for printing new checks$90?Note receivable and interest collected by bank on Donahue's behalf$680?A check paid to Donahue during the month by a customer is returned by the bank as NSF$570? The adjusted cash balance per the books on April 30 is:
A. $8070 B. $5750 C. $6820 D. $6250 E. $4150
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a. True b. False Indicate whether the statement is true or false
Answer the following statement(s) true (T) or false (F)
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