On January 1, 20X8, Package Company acquired 80 percent of Stamp Company's common stock for $280,000 cash. At that date, Stamp reported common stock outstanding of $200,000 and retained earnings of $100,000, and the fair value of the noncontrolling interest was $70,000. The book values and fair values of Stamp's assets and liabilities were equal, except for other intangible assets which had a fair value $50,000 greater than book value and an 8-year remaining life. Stamp reported the following data for 20X8 and 20X9: Stamp CorporationYearNet IncomeComprehensiveIncomeDividendsPaid20X8$25,000 $30,000 $5,000 20X9 35,000 45,000 10,000 Package reported net income of $100,000 and paid dividends of $30,000 for both the years.Based on the preceding information, what
is the amount of consolidated comprehensive income reported for 20X9?
A. $128,750
B. $138,750
C. $135,000
D. $145,000
Answer: B
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Which of the following media is most suitable for advertising a product that needs to be demonstrated?
A) television B) radio C) newspaper D) magazine E) billboard
To record the adjustment from a ________, the liability account is debited and the revenue account is credited at the end of the period
a. deferred revenue b. accrued expense c. deferred expense d. accrued revenue
What is meant by the terms job range and depth?
What will be an ideal response?
Below is a narrative of the "Order goods and services" portion (bubble 2.0) of the purchasing process described in Chapter 12
Narrative Description
The first process involves vendor selection (bubble 2.1). A buyer generally consults the vendor master data to identify potential suppliers that have been approved for use by the organization and then evaluates each prospective vendor for a particular purchase.
After the vendor has been selected, the buyer prepares a purchase order (PO). Process bubble 2.2 of depicts the process of preparing a PO. The "purchase order" data flowing out of process 2.2 is sent to the vendor. At the same time, the inventory master data is updated to reflect the goods on order. A record of the purchase is stored on the PO master data, and PO information is distributed to several
departments, including the requesting department, the inventory management process, accounts payable process, and receiving.
Required:
From the DFD (TB Figure 12.3) and the narrative description above, explode bubble 2.0 into a lower-level diagram showing the details of that process.
