Regarding capital projects funds, the statement that is true is: Fixed assets are depreciated in capital projects funds.
In capital projects funds, fixed assets are subject to depreciation. This is because capital projects funds are specifically designed to account for and track the financial aspects of capital improvement projects, which often involve the acquisition and construction of fixed assets such as buildings, infrastructure, and equipment. Depreciation is an accounting process that allocates the cost of a fixed asset over its useful life, reflecting the gradual wear and tear or obsolescence of the asset. By recognizing depreciation in capital projects funds, the financial statements accurately reflect the reduction in value of these assets over time.
It's important to note that the other options listed are not applicable to capital projects funds. Encumbrance accounting is commonly used in capital projects funds to track commitments and obligations related to contracts and purchase orders. Operating revenue based on admission fees would typically be associated with a different type of fund, such as an enterprise fund. Lastly, contributions at fair market value would be recognized in other types of funds, such as special revenue funds or trust funds, depending on the nature of the contribution.
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Using demand curves, what would happen if the price of pop increases?
o. Demand for pop will increase
b. The demand curve will shift to the right
c. Demand for pop will decrease
The demand curve will shift to the left
Using demand curves, if the price of pop increases, then, the demand for pop will decrease. The Option
How does demand for product change in response to a change in price?According to demand law , as the price of a product increases, the quantity demanded of that product will decrease. This inverse relationship between price and quantity demanded is illustrated graphically by a downward-sloping demand curve.
Therefore, if the price of pop increases, the demand for pop will decrease. This can be shown by a movement up along the demand curve, resulting in a lower quantity demanded at each price point.
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The share in the company's profit is called_________.
Answer:
profit sharing
Explanation:
From Investopia they define profit sharing as
"A plan gives employees a share in their company's profits based on its quarterly or annual earnings."
The profession of marriage and family therapists is expected to continue growing at a rate of about
.
Explanation:
Job Outlook
Employment of marriage and family therapists is projected to grow 22 percent from 2019 to 2029, much faster than the average for all occupations. Growth is expected due to an increasing use of teams for treatment, in which these therapists work with other counselors to address patients' needs.
PMBOK Knowledge area of Quality Management has 2 process, please explain in your own words at least two
One of the processes in the PMBOK (Project Management Body of Knowledge) knowledge area of Quality Management is "Plan Quality Management."
In this process, the project team identifies the quality objectives and determines the necessary actions and resources to achieve them. It involves developing a quality management plan that outlines the quality standards, metrics, and processes to be used throughout the project.
Another process is "Perform Quality Assurance." This process focuses on executing the quality management plan and ensuring that the project activities comply with the defined quality standards. It involves evaluating project performance and deliverables, conducting audits, and implementing necessary improvements to enhance the overall quality of the project.
In summary, the "Plan Quality Management" process establishes the framework for quality management, while the "Perform Quality Assurance" process monitors and verifies adherence to the established quality standards and implements corrective actions when necessary.
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(1) State which marketing environment affected Xerox's operation. (1mks)
(b) From your answer above, discuss which specific area from that particular enviroment affected how Xerox conducted business. (5mks)
Answer a:
Clearly, Xerox had one major issue concerning its marketing environment.
Due to technological changes, i's primary market was shifting and changing. Xerox didn't see it. Perhaps they did and decided it (the changes that is) not
Explanation:
One keyword or practice or culture or capability that was missing in Xerox was adaptability. Had they envisaged the future and created some internal structure to gradually cater to the changing requirements of their client base, they'd probably still be in business today.
So in a way, it wasn't really the change in the market that affected Xerox. It was Xerox' inability to respond to such changes that did it in. At some point, it became apparent to investors that Xerox was incapable to move with the next tide. They withdrew their funds, sold their shares and the rest is history.
Answer b:
The major area that affected how Xerox conducted business is the technology enviriomment.
Explanation
Due to the availability of technology which made it possible, peoples mindset were beginning to shift from keeping hard copies and or duplicating them to keeping electronic copies.
Two things made this idea very attractive:
1. It reduced cost greatly. In every era, cost reduction has always been an attractive business proposition for companies in any sector or subsector. As firms discovered they could cut down by keeping electronic copies of their documents, the idea quickly caught on. And so did the profits made by the renowned copier decline.
2. Another factor strenghtened the decline in making and keeping hard copies of documents is the ideology that the more papers we made, the more we were damaging our environment.
Companies that quickly adjusted even used their paper reduction efforts as a unique selling marketing proposition.
Cheers
Which post-secondary program requires minimal prerequisites?
Answer with Explanation:
It depends upon the college or university you choose. If you are choosing a foreign college or university then following are the possible minimal pre-requisites:
Age FactorAttained Marks percentage Language Speaking requirement which includes taking an English speaking, learning and writing test. Examples of approved english skills tests programs are TOEFL, IELTS, etc.Minimum Fee depositCharacter CertificateValid PassportPersonal Information Providing Field oriented report which explains why you want to opt this program.Other requirements depending upon the course, university and law that governs the territory in which the institute operates.For the following transactions, determine whether cash flows from operating activities will increase, decrease, or remain the same:
(f) Recorded accrued interest expense.
Recording accrued interest expense will increase cash flows from operating activities because it is considered an operating expense and is added back in the operating activities section of the statement of cash flows.
The recording of accrued interest expense will result in an increase in cash flows from operating activities.
Accrued interest expense refers to interest that has been incurred but not yet paid. When the interest expense is recorded, it is added to the company's expenses for the period. Since interest expense is a part of operating activities, recording it will increase the overall cash flows from operating activities.
To better understand this, let's consider an example. Let's say a company accrues $150 of interest expense for a loan it has taken. When the company records this expense, it will increase the total expenses for the period by $150. As a result, the net income will decrease by $150. However, this decrease in net income will be added back in the operating activities section of the statement of cash flows. Therefore, the cash flows from operating activities will increase by $150.
In summary, recording accrued interest expense will increase cash flows from operating activities because it is considered an operating expense and is added back in the operating activities section of the statement of cash flows.
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Section 5.5 in the textbook provides a definition of "ethics" and "corporate culture". Do you believe that unethical decisions made by managers and employees could be due to the company's corporate culture or a few thousand “bad apples?”
The entire organization is corrupted. Actually, while a few thousand apples may not be corrupt, the vast majority are. This includes upper management, which is likely the most corrupt.
The organization's culture is its heart, and it acts as the glue that holds everything together. The issue is that when the culture or core of an organization is unreasonable, the rest of the organization is contaminated.
I believe that the culture of an organization is its own soul. I believe that both organizations and people are good by nature, but a series of bad events can turn good into evil.
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short notes on audit and auditor
Answer:
Audit
Audit is the examination or inspection of various books of accounts by an auditor followed by physical checking of inventory to make sure that all departments are following documented system of recording transactions.
Auditor
An auditor is a person authorized to review and verify the accuracy of financial records and ensure that companies comply with tax laws.
quizlet in the best-efforts method of issuing stock, an underwriter promises to sell as much of the issue as possible, but does not guarantee to sell the entire amount.
Best efforts agreements exempt underwriters from having to buy any shares they are unable to sell. The underwriter is not required to guarantee that the full IPO issue will be sold in a best-efforts contract.
The promise a service provider makes to go above and above to fulfill a contract's criteria is referred to as "best efforts." In the financial industry, an underwriter promises an issuer that they will do their best efforts to sell as many of the securities they are providing as feasible. Even though the two parties agree to sell some securities, the underwriter doesn't promise to sell them all.
An underwriter's pledge to use their best efforts to sell as much of a securities offering as feasible is referred to as "best efforts."It is also a phrase used in generic service agreements in place of a concrete delivery commitment.In contrast, a firm commitment or bought transaction requires the underwriter to purchase all of the shares or debt and sell it all in order to break even.Learn more about best efforts here
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The complete question is
The best-efforts method of issuing stock, an underwriter promises to sell as much of the issue as possible, but does not guarantee to sell the entire amount.
For each price in the following table, use the graph to determine the number of jackets this firm would produce in order to maximize its profit. Assume that when the price is exactly equal to the average variable cost, the firm is indifferent between producing zero jackets and the profit-maximizing quantity. Also, indicate whether the firm will produce, shut down, or be indifferent between the two in the short run. Lastly, determine whether it will make a profit, suffer a loss, or break even at each price.
A) the number of jackets to be produced to maximize profit is 35 (the point above the intersection of the Marginal Cost (MC) and the Average Total Cost (ATC).
What is the Average Total Cost?Average Total Cost (AVC) is computed by dividing the total quantity produced by the total cost used in producing it.
B) The firm will be Indifferent at the point where MC = ATC because at least, it is able to cover sunk costs. At the point where MC = AVC however, it will most likely shut down because it is now incurring losses. Revenue is no longer sufficient at this point to cover Average Total Costs, how much more Average Variable Cost.
C) with regards to profits or losses:
At Price A (where Price is above the intersection between MC and ATC), the company will make a profit.At point B (where MC = ATC), the company will break even.At point C (where the MC = AVC), the company will make a loss.See the link below for more about Average Total Costs:
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Question 1 (10 points) You are faced with a problem. You want to go to the movies with your friends and see the latest action flick. However, your mother left you firm instructions to mow the lawn. You will risk losing your allowance if you don't mow the lawn. Apply what you have learned in this course. a) Create a decision-making grid similar to the one you learned about in Unit 2. Then decide which would be the best use of your time. b) Make a choice as to which you will do. Write an explanation (at least one well- developed paragraph in length) in which you explain how you have decided to use your time and why you made that particular choice. Your explanation should include terms such as "opportunity cost" and "trade-off" and your reasoning for making the choice you made.
The dilemma is to decide whether to ignore mother's orders or comply with them in this situation.
What is Opportunity Cost?Opportunity Cost refers to the losses incurred on leaving the other possible alternatives in the decision making and choosing the one. It is the value of the best alternative choose in the process of the decision making.
In the Above situation,the individual would enjoy with friends if he goes to watch the movie However it can lead to trouble with his mother.
However, if individual does cleaning of the lawn; the price would be the fun you would have to forgo.
The best course of action would be to obey your mother because the consequences of doing otherwise are much worse.
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The adjusting entry to record the amortization of a discount on bonds payable is?.
The adjusting entry to document the amortization of a Discount on Bonds Payable is credited in place of Interest Expense.
What is Amortization?The practize of paying off a debt over time with a series of instalments is called amortization. Both the principle and interest portions of each payment are applied to the loan balance. As the loan is repaid, a little amount is initially set aside each month for principal, and this amount grows significantly each month.
A business may spread out the expense of a patent throughout the course of its usefulness. Consider a scenario in which a corporation holds the sole rights to a patent for ten years with no option for renewal.
The principal balance of a loan is reduced over time as the total principal and interest payments rise, as shown by amortization schedules. As the loan is repaid, less interest is paid and more of each payment is allocated to the main debt outstanding.
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Which type of network is better to be used by a business to connect digital devices within a city or metropolitan area?
A. MAN
B. SAN
C. WAN
D. Wi-Fi
E. LAN
C) A WAN (Wide Area Network) is better suited for connecting digital devices within a city or metropolitan area due to its ability to cover larger geographical areas and connect multiple LANs (Local Area Networks) together.
When it comes to connecting digital devices within a city or metropolitan area, a Wide Area Network (WAN) is the preferred choice. A WAN offers several advantages over other types of networks in this context.
Firstly, WANs are designed to cover larger geographical areas, making them suitable for connecting devices spread across a city or metropolitan area. Secondly, WANs can connect multiple Local Area Networks (LANs) together, allowing for seamless communication between devices in different locations within the city.
This enables businesses to establish a unified network infrastructure across their entire operations. Additionally, WAN technologies, such as fiber optics or leased lines, provide high-speed and reliable connections, ensuring efficient data transmission between devices.
Overall, a WAN is the optimal choice for businesses looking to connect digital devices in a city or metropolitan area.
So C option is correct.
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Qs = 19 + 20Px - 10PI + 6T - 32Pr - 20Pe + 5Fwhere Px is the price of X, PI is the price of labor, T is an index measuring the level of technology, Pr is the price of a good R that is related in production, Pe is the expected future price of good X, and F is the number of firms in the industry
The equation given is:
Qs = 19 + 20Px - 10PI + 6T - 32Pr - 20Pe + 5F
This equation represents the supply of a good, where Qs represents the quantity supplied.
Let's break down the terms in the equation:
19: This is a constant term representing the base level of supply.
20Px: This term represents the effect of the price of good X on the quantity supplied. It suggests that as the price of good X increases, the quantity supplied increases.
10PI: This term represents the effect of the price of labor on the quantity supplied. It suggests that as the price of labor increases, the quantity supplied decreases.
6T: This term represents the effect of the level of technology on the quantity supplied. It suggests that as the level of technology increases, the quantity supplied increases.
32Pr: This term represents the effect of the price of good R on the quantity supplied. It suggests that as the price of good R increases, the quantity supplied decreases.
20Pe: This term represents the effect of the expected future price of good X on the quantity supplied. It suggests that as the expected future price of good X increases, the quantity supplied decreases.
5F: This term represents the effect of the number of firms in the industry on the quantity supplied. It suggests that as the number of firms in the industry increases, the quantity supplied increases.
In summary, the equation captures the various factors that influence the supply of a good, including its own price, the prices of related goods, the price of labor, the level of technology, the expected future price, and the number of firms in the industry.
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Amir is working on making paper snowakes to decorate his room. He has timed himself and noticed that he takes 5 minutes to make each snowake. If he has an hour and a half before bedtime, how many snowakes will he be able to make?
Based on the time taken to make one snowflake, the number of snowflakes that Amir can make in an hour and half is 18 snowflakes.
How many snowflakes can Amir make?First convert the hours to minutes:
= 1 hour 30 minutes
= 1 + 30/60
= 1.5 hours x 60 minutes in an hour
= 90 minutes
Each snowflake takes 5 minutes to make:
= 90 / 5
= 18 snowflakes
In conclusion, Amir will have made 18 snowflakes.
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If marginal cost exceeds average variable cost but is less than average total cost, then as output increases average total cost ________ and average variable cost ________.
If marginal cost exceeds average variable cost but is less than average total cost, then as output increases average total cost
Decrease and;The Average Variable Cost:
IncreaseWhat is Marginal Cost?This refers to the total production cost change which is associated with the production of one unit of utility.
With this in mind, we can see that if the marginal cost exceeds average variable cost but is less than average total cost, then as output increases average total cost would decrease and the average variable cost would increase.
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Daniel's failure to deliver ice-cream makers and waffle makers on time resulted in a two-week delay in the opening of Sheena's new ice-cream parlor. Sheena incurred a heavy loss since she had to pay the rent for those two weeks as well as salaries to the personnel hired. In this case, which of the following remedies is a court most likely to award Sheena? Group of answer choices nominal damages liquidated damages differential damages specific performance consequential damages
consequential damages remedies is a court most likely to award Sheena.
Consequential damages: What are they?The plaintiff may sue the defendant for injury incurred as a result of the defendant's actions by claiming consequential damages, also known as special damages.
How can consequential damages be proved?The claimant must demonstrate that consequential damages were both reasonably foreseeable at the time the parties entered into the contract proximately caused by the breach in order to be awarded compensation. The harder obstacle to clear is proving the quantity, which is more difficult than determining foresee ability.What is an illustration of a consequential damage?Property damage, bodily harm, legal costs, lost earnings, loss of usage, buyer liability to customers, loss of goodwill, interest on money withheld by consumers, and losses resulting from third-party claims are examples of consequential damages.
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In situations where the required rate of return is not constant for each year of the project, it is advantageous to use
a. the adjusted rate of return method b. the internal rate of return method c. the net present value method d. sensitivity analysis
In situations where the required rate of return is not constant for each year of the project, it is advantageous to use the net present value method. Therefore, the correct option is C.
The reasoning behind this is that the net present value (NPV) method takes into account the time value of money by discounting future cash flows to their present value using a specific discount rate for each year. Since the required rate of return may change over the years, NPV allows for flexibility in adjusting the discount rate to match the required rate for each year.
This provides a more accurate assessment of the project's value compared to other methods, like the adjusted rate of return method, the internal rate of return method, or sensitivity analysis, which do not account for variable discount rates. Hence, the correct answer is option C: the net present value method.
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What do you mean by levels of professions?
Answer:
The word “profession” means different things to different people. But at its core, it’s meant to be an indicator of trust and expertise.
Traditionally, a “professional” was someone who derived their income from their expertise or specific talents, as opposed to a hobbyist or amateur. This still carries through to fields today, such as sport.
But given today’s fast-changing environment of knowledge and expertise, it’s now generally understood that simply deriving an income from a particular task might make you an “expert” or “good at your job” – but if you’re a “professional”, this has a broader meaning.
There’s a long history of attempts to clarify this meaning, and to define the functions of professions. These attempts typically centralise around some sort of moral or ethical foundation within the practice of a specific and usually established expertise.
This section is designed to give you an insight into some of the historic and academic ways of defining professions, as well as some regulatory perspectives as to how a group can ultimately become a profession.
A person who buys a used car with the money earned from working a part- time job is influenced by what factor? A. Income B. Social pressure C. Age D. Advertising
Answer:
A income
Explanation:
hope it's helpful to you
A person who has a used car with the money earned from working a part-time job is influenced by income factors. Thus, option A is correct.
What is buy?
The term buy can mean that there is some sort of transaction that has happened between two or more parties. after buying a product or a thing, the buyer obtains custody, possession, or authority to utilize something in exchange for money in particular
As the person has worked hard and done some kind of part-time job that he has been doing it on the temporary basis and that person was doing various things too.
As the money is earned by himself, he brought the car from the money that he has earned by himself and this is money can be termed as the income earned by doing a job. Therefore, option A is the correct option.
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Why is money management important? How would you rate your own money management?
Answer:
because it has money
Explanation:
Answer:
Money management is important because you should have a balance of bills to pay, and money you keep for fun. If you don't have this then you might have to pay to much money for bills, and you not having enough to pay them off.
Explanation:
enter mia profit/loss for the 2 month
What is one issue a business can wncounter if its keeps an asset beyond its useful life
Answer:
One issue a business can encounter if its keeps an asset beyond its useful life is the eventual impairment of the business production as a result of the use of a defective equipment or asset, that is, not suitable for economic production because it has already fulfilled its utility cycle.
Thus, for example, if a company continues to use old or obsolete machinery, it runs the risk that said machinery will cause damage or a decrease in the quality of the products.
I need help on these two. 15 pts. Brainliest...
NEED HELP ASAP Select the correct answer.
In the following sentence, identify the sequence of the criteria based on SMART principles. Your choice of sequence should match the sequence of italicized phrases.
“Given my current skill set and educational qualifications, I wish to become an analyst with a leading credit rating firm in the next five to seven years.”
A-Time Bound, Specific, Realistic
B-Time Bound, Realistic, Specific
C-Specific, Realistic, Time Bound
D-Realistic, Specific, Time Bound
The correct sequence of the criteria based on SMART principles in the given sentence is:C - Specific, Realistic, Time Bound .Option C is correct.
SMART is an acronym that stands for Specific, Measurable, Achievable, Relevant, and Time-Bound. In the sentence provided, the italicized phrases are "analyst with a leading credit rating firm" (Specific), "given my current skill set and educational qualifications" (Realistic), and "in the next five to seven years" (Time-Bound).
Specific: The goal is clearly defined as becoming an analyst with a leading credit rating firm.Realistic: The goal is based on the person's current skill set and educational qualifications.Time Bound: The goal has a specified timeframe of five to seven years.Therefore, the correct sequence is C - Specific, Realistic, Time Bound.Option C is correct.
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Consider the following partially completed income statements for merchandising companies and compute the missing amounts under the Flynt Corp. table below the following Data Table:view the Income Statements:Data Table : Rustic Gear Flynt Corp.Sales $ 98,000 $(d)Cost of Goods Sold:Beginning Merchandise Inventory (a) 31,000Purchases and Freight In 50,000 (e)Cost of Goods Available for Sale (b) 91,000Ending Merchandise Inventory (2,200) (2,200)Cost of Goods Sold 63,000 (f)Gross Profit 35,000 114,000Selling and Administrative Expenses (c) 86,000Operating Income $10,000 $ (g)Rustic GearSales $98,000Cost of Goods Sold:Beginning Merchandise Inventory 15,200Purchases and Freight In 50,000Cost of Goods Available for Sale 65,200Ending Merchandise Inventory (2,200)Cost of Goods Sold 63,000Gross Profit 35,000Selling and Administrative Expenses 25,000Operating Income $10,000Flynt Corp.__?___$31,000__?___91,000(2,200)114,00086,000__?____
Answer:
e.60,000
f. 88,800
d. 202,800
g. Operating income 28,000
Explanation:
Calculation for the missing amounts for Flynt Corp.
e. Computaion for Purchases & freight-in
Using this formula
Purchases & freight-in= Cost of Goods Available for Sale - Beginning Merchandise Inventory
Let plug in the formula
Purchases & freight= 91,000 - 31,000
Purchases & freight= $ 60,000
f. Computation for Cost of goods sold
Using this formula
Cost of goods sold = Cost of Goods Available for Sale - Ending Merchandise Inventory
Let plug in the formula
Cost of goods sold= 91,000 - 2,200
Cost of goods sold= 88,800
d. Computation for Sales
Using this formula
Sales = Gross profit + Cost of goods sold
Let plug in the formula
Sales= 114 000 + 88,800
Sales= 202,800
g. Computation for Operating income
Using this formula
Operating income = Gross profit - Selling and Administrative Expenses
Let plug in the formula
Operating income= 114,000 - 86,000
Operating income= 28,000
Preparation for the Income statement for Flynt Corp.
Flynt INCOME STATEMENT
Sales 202,800 (i)
Cost of good sold :
Beginning Merchandise Inventory 31,000
Purchases and Freight In 60,000
Total Cost of goods available for sale 91,000
(60,000+31,000)
Less Ending Merchandise Inventory 2,200
Cost of goods sold 88,800 (ii)
(91,000-2,200)
Gross profit 114,000
(202,800 - 88,800)
Less Selling & Administrative expenses 86,000
OPERATING INCOME $28,000
True or false: Corporate Social Responsibility (CSR) and corporate profits can at times go hand in hand.
True false question.
True
False
Answer:
TRUE
Explanation:
I think that answer
What does qualitative research and quantitative research means?
Answer:
Quantitative research is expressed in numbers and graphs. It is used to test or confirm theories and assumptions. This type of research can be used to establish generalizable facts about a topic.
Common quantitative methods include experiments, observations recorded as numbers, and surveys with closed-ended questions.
Qualitative research
Qualitative research is expressed in words. It is used to understand concepts, thoughts or experiences. This type of research enables you to gather in-depth insights on topics that are not well understood.
Common qualitative methods include interviews with open-ended questions, observations described in words, and literature reviews that explore concepts and theories.
Answer:
Qualitative research involves collecting and analyzing non-numerical data (e.g., text, video, or audio) to understand concepts, opinions, or experiences. It can be used to gather in-depth insights into a problem or generate new ideas for research.
Quantitative research is a research strategy that focuses on quantifying the collection and analysis of data.
Prompt Company acquired 90 % of Slow Corporation on 1/2018. Fair values of Slow's assets and liabilities approximated book values on that date. Prompt uses the initial value method to account for its investment in Slow. On 1/2020, Prompt bought equipment from Slow for $60,000 that had originally cost Slow $120,000 and had $ 80,000 of Accumulated depreciation at the time. The equipment had a five-year remaining life and was being depreciated using the straight line method. You are preparing the worksheet for the 2021 fiscal year. a. Was this equipment sale upstream or downstream?
b. How much excess depreciation will there be in each of the first five years after the transfer?
c. How much unrealized net gain from the equipment transfer remains at the beginning of 2021? (This is the amount you will need for the *TA entry.) d. Which company's Retained earnings account will be adjusted in the *TA entry in part c? (Which company was the "initiator" of the transaction?)
e. Prompt's 2021 net income, without including any investment income, was $ 320,000 and Slow reported net income of $ 107,000 in 2021. What consolidated income will be reported before removing the noncontrolling interest's share of the subsidiary's net income? (This includes the effect of the ED entry) f. What will the noncontrolling interest's share of the subsidiary's net income be for 2021? (Consider whether the equipment sale had been upstream or downstream.) e. Promopts Income Slow's income Adjusted Gain Net income of considaition 320,000 96300 18,000 398,300
a. This equipment sale was downstream. The reason being is because the sale was made from the subsidiary to the parent company. The transfer of assets from the subsidiary company to the parent company is known as downstream.
b. Excess depreciation in the first five years will be as follows: Year 1: $24,000Year 2: $19,200Year 3: $12,800Year 4: $6,400Year 5: $0c. The amount of unrealized net gain from the equipment transfer that remains at the beginning of 2021 is $4,800.
The amount of gain is computed as follows: Cost of Equipment: $60,000Accumulated Depreciation (2 years): $28,800Book Value of Equipment (1/1/2021): $31,200Fair Value of Equipment (1/1/2020): $48,000Unrealized Net Gain: $16,800Less: Amortization (2 years): $12,000Unrealized Net Gain on 1/1/2021: $4,800d. Prompt Company's retained earnings account will be adjusted in the *TA entry in part c. The reason is because it was the initiator of the transaction.
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