Pursley, Inc. owns 70 percent of Harry Corp. The consolidated income statement for a year reports $50,000 Noncontrolling Interest in Harry Corp.'s Net Income. Harry paid dividends in the amount of $80,000 for the year. What are the effects of these transactions in the consolidated statement of cash flows for the year? Financing ActivitiesOperating ActivitiesA)Increased by $24,000Increased by $15,000B)Decreased by $15,000UnaffectedC)UnaffectedDecreased by $15,000D)Decreased by $24,000UnaffectedE)UnaffectedIncreased by $24,000
A. Option E
B. Option A
C. Option D
D. Option B
E. Option C
Answer: C
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A flexible spending health care account
A) permits you to increase premiums in order to purchase increased benefits. B) automatically adjusts premiums to reflect changes in health care costs. C) can pay for health insurance deductibles with pretax dollars. D) is funded through employer contributions.
Which of the following is correct with regard to consideration?
a. In a unilateral contract, a promise is exchanged for an act or forbearance to act. b. In a bilateral contract, there is an exchange of promises. c. Legal sufficiency is always related to adequacy of consideration. d. Two of these are correct.
Bratt's Bed and Breakfast, in a small historic New England town, must decide how to subdivide (remodel) the large old home that will become an inn
There are three alternatives: Option A would modernize all baths and combine rooms, leaving the inn with four suites, each suitable for two to four adults. Option B would modernize only the second floor; the results would be six suites, four for two to four adults, and two for two adults only. Option C (the status quo option) leaves all walls intact. In this case, there are eight rooms available, but only two are suitable for four adults, and four rooms will not have private baths. Below are the details of profit and demand patterns that will accompany each option. Which option has the highest expected value? Annual profit under various demand patterns Capacity p Average p A (Modernize all) $90,000 .5 $25,000 .5 B (Modernize 2nd) $80,000 .4 $70,000 .6 C (Status Quo) $60,000 .3 $55,000 .7
What is the maximum amount a 30-year-old taxpayer and a 35-year-old spouse can put into a Traditional or Roth IRA for 2018, assuming they earn $50,000 in total and are not covered by pension plans?
What will be an ideal response?