When a customer is unable to meet its repayment obligations the customer defaults
a. True
b. False
Indicate whether the statement is true or false
True
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Real-life layout problems can be solved ______.
A. manually B. graphically C. using software D. easily
Hill Co can further process Product O to produce Product P. Product O is currently selling for $60 per pound and costs $42 per pound to produce. Product P would sell for $82 per pound and would require an additional cost of $13 per pound to produce. The differential cost of producing Product P is $55 per pound
Indicate whether the statement is true or false
Which of the following is NOT a main source of international commercial law:
a. laws of individual nations b. laws defined by trade agreements between countries c. rules enacted by worldwide or regional organizations d. all of the other specific choices are sources of international commercial law e. none of the other specific choices are correct
On January 1, 2018, Pride, Inc. acquired 80% of the outstanding voting common stock of Strong Corp. for $364,000. There is no active market for Strong's stock. Of this payment, $28,000 was allocated to equipment (with a five-year life) that had been undervalued on Strong's books by $35,000. Any remaining excess was attributable to goodwill, which has not been impaired.As of December 31, 2018, before preparing the consolidated worksheet, the financial statements appeared as follows: Pride, Inc. Strong Corp.Revenues$420,000 $280,000 Cost of goods sold (196,000) (112,000)Operating expenses (28,000) (14,000)Net income$196,000) $154,000 Retained earnings, 1/1/18$420,000 $210,000 Net income (above) 196,000 154,000 Dividends paid 0 0 Retained earnings,
12/31/18$616,000 $364,000 Cash and receivables$294,000 $126,000 Inventory 210,000 154,000 Investment in Strong Corp 364,000 0 Equipment (net) 616,000 420,000 Total assets$1,484,000 $700,000 Liabilities$588,000 $196,000 Common stock 280,000 140,000 Retained earnings, 12/31/18 (above) 616,000 364,000 Total liabilities and stockholders' equity$1,484,000 $700,000 ??During 2018, Pride bought inventory for $112,000 and sold it to Strong for $140,000. Only half of the inventory purchase price had been remitted to Pride by Strong at year-end. As of December 31, 2018, 60% of these goods remained in the company's possession.?What is the consolidated total for equipment (net) at December 31, 2018? A. $1,066,800. B. $1,064,000. C. $1,069,600. D. $1,058,400. E. $ 952,000.