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cluponka [151]
3 years ago
7

Perch Co. acquired 80% of the common stock of Float Corp for $1,600,000. The fair value of Float's net assets was $1,850,000, an

d the book value was $1,500,000. The non-controlling interest shares of Float Corp are not actively traded.
1) What is the total amount of goodwill recognized at the date of acquisition?
a) $150,000
b) $250,000
c) $0
d) $120,000
e) $170,000
2. What amount of goodwill should be attributed to the non-controlling interest at the date of acquisition?
a) $0
b) $20,000
c) $30,000
d) $100,000
e) $120,000
Business
1 answer:
BlackZzzverrR [31]3 years ago
5 0

Answer:

1. a) $150,000

2. c) $30,000

Explanation:

1) Goodwill of Controlling Interest = Purchase price - (FMV of Net Asset * % ownership)  

= $1,600,000 - ( $1,850,000 * 80%)

= $120,000

Total amount of goodwill recognized at the date of acquisition = Goodwill of Controlling Interest / %ownership

= $120,000 / 80%

= $150,000

2. Amount of goodwill to be attributed to the non-controlling interest at the date of acquisition = Total amount of goodwill recognized at the date of acquisition - Goodwill of Controlling Interest  

= $150,000 - $120,000

= $30,000

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The statement of owner's equity: Multiple Choice
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Answer:

E. Reports how equity changes over a period of time.

Explanation:

Statement of owner's equity as the name suggests is the statement which describes the changes in owner's equity, as it is obvious that the change cannot occur at a point of time, it will occur over a period of time.

And therefore, the statement is prepared over a period generally for a fiscal year, or a financial year.

There is no statement prepared to show any change in owner's equity at a point.

Statement reporting cash flows is called cash flow statement.

Therefore, correct option is:

Statement E

5 0
3 years ago
Meester Corporation has an activity-based costing system with three activity cost pools--Machining, Order Filling, and Other. In
KIM [24]

Answer:

$26,110

Explanation:

See attached file

3 0
2 years ago
The master budget of Sheridan Company shows that the planned activity level for next year is expected to be 50000 machine hours.
barxatty [35]

Answer:

$1,350,000

Explanation:

Calculation to determine the total manufacturing overhead costs

First step is to calculate the Variable overhead

Variable overhead= $720,000 + $180,000 +$150,000

Variable overhead=$1,050,000

Second step is to calculate Unitary variable overhead

Unitary variable overhead= $1,050,000/50,000

Unitary variable overhead= 21

Now let calculate the total manufacturing overhead costs

For 60,000 units:

Total Manufacturing Overhead Costs = 21*60,000 + 90,000

Total Manufacturing Overhead Costs= $1,350,000

Therefore the total manufacturing overhead costs is $1,350,000

6 0
2 years ago
1. Which resource management task determines the type, quantity, receiving location, and users of resources? A. Track and Report
Rasek [7]

Answer:

C. Identify Requirements

Explanation:

Individuals who are assigned the responsibility of resource management should first of all identify resource requirements.

Identification of requirements relates to the quantum of resources required, the place where they are required and the recipient of those resources.

Resource needs and requirements change from time to time as per the situation. Resource requirements mean the quantity and the kind of resources that would be required for completion of a project.

Thus, Identify Requirements determines the type, quantity, receiving location and the users of those resources.

8 0
3 years ago
terrence’s team is very close and tends to agree on most decisions with little discussion. terrence should be concerned about
ad-work [718]

Terrence should be concerned about groupthink.

  • Groupthink refers to the common opinion or group consensus suppresses people's ability to provide alternative solutions to the problem as a result all the members of the group agree on the same conclusion.
  • The desire to promote group cohesion and deduction of common conclusion to a problem negatively affects the promotion of thinking abilities, good decision making abilities, and problem solving abilities of group mates.
  • When a team mates derive a common conclusion without an elaborate discussion or with a little discussion. It is indicative of problem of groupthink.

Hence, Terrence should be concerned about groupthink as the team agree on most decisions with little discussion.

Learn more about decision:

brainly.com/question/24128805

4 0
3 years ago
Read 2 more answers
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