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bija089 [108]
2 years ago
7

A merger is a mutual agreement where a firm joins together with another firm, whereas an acquisition is when one firm purchases

the assets and obligations of another firm.
Business
1 answer:
lesya692 [45]2 years ago
7 0
What is the question here?
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To better evaluate the denials of Medicare claims at ABC Hospital, Shelly (the Coding Manager) and
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Answer:

[D] Him and billing staff

Explanation:

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2 years ago
Carlos has a small fashion company. He has been in business for a little over a year and the company looks like it is going to d
melisa1 [442]

Answer:

1.Venture capital firm

Explanation:

Since the given statements, it is clear that CARLOS is an emerging firm that is doing good and needs a little bit of support financially to keep up with the demand.

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Because in venture capital funding the fund is for the companies that are in their early-stage, emerging or that has the potential for better growth

Carlos as we see, it has growth potential and it is emerging too.

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So the answer is option 1

8 0
3 years ago
the temporary difference is $60 million. Payne has no other temporary differences and no valuation allowance for the deferred ta
anastassius [24]

Answer:

Answers are available in the attached images

Explanation:

This question is incomplete. I will type the complete question below and add image attachments of the solution as tabulated journal entries are required.

At the end of 2017, Payne industries had a deferred tax asset account with a balance of $26 million attributable to a temporary book tax difference of $65 million in a liability for estimated expenses. At the end of 2018, the temporary difference is $60 million. Payne has no other temporary differences and no valuation allowance for the deferred tax asset. Taxable income for 2018 is $220 million and the tax rate is 40%. Required:

1. Prepare the journal entry(s) to record Payne’s income taxes for 2018, assuming it is more likely than not that the deferred tax asset will be realized.

2. Prepare the journal entry(s) to record Payne’s income taxes for 2018, assuming it is more likely than not that one-fourth of the deferred tax asset will ultimately be realized.

5 0
2 years ago
When the Fed buys bonds the supply of money a. increases and so aggregate demand shifts right. b. increases and so aggregate dem
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Answer:

A. Increases and so aggregate demand shifts.

Explanation:

7 0
2 years ago
Mason Automotive is an automotive parts company that sells car parts and provides car service to customers. This is Mason's firs
Vera_Pavlovna [14]

Answer:

Mason Automotive sells 10,000,000 shares at $5 par for $15 on January 1st, 2019.  

Dr Cash 150,000,000

    Cr Common stock 50,000,000

    Cr Additional paid in capital 100,000,000

Ed Mason, the CEO, hires 4,000 employees, whom will receive a combined salary of $6.5 Million on a monthly basis. The employees started on January 1st and will be paid for the month of January on February 5th. Employee's withholdings are as follows: 10% for federal income taxes 5% for state income taxes and 7% for FICA. Record the necessary entry as of January 1st, 2019.          

No journal entry required

Adjusting entry:

January 31, 2019, wages expense

Dr Wages expense 6,500,000

Dr FICA taxes expense 455,000

    Cr Federal income taxes withheld payable 650,000

    Cr State income taxes withheld payable 325,000

    Cr FICA taxes withheld payable 455,000

    Cr FICA taxes payable 455,000

    Cr Wages payable 5,070,000

On January 1st, Mason Automotive receives $70 Million advance payment from a customer, Highland Inc., to manufacture 7,000 cars.        

Dr Cash 70,000,000

    Cr Deferred revenue 70,000,000

Adjusting entry:

January 31, 2019, 5,000 cars were finished and delivered

Dr Deferred revenue 35,000,000

    Cr Sales revenue 35,000,000

Mason Automotive issues a bond payable on January 1st, 2019 with a face value of $500 Million at 98. The bond will have a useful life of 10 years with an interest payment of 8% (Annual Percentage Rate) due at the end of the month. Record the necessary journal entry as of January 1st,  2019.

Dr Cash 490,000,000

Dr Discount on bonds payable 10,000,000

    Cr Bonds payable 10,000,000

(Note: When considering the amortization of the discount or premium, assume the straight line method is used).  

Adjusting entry        

January 31, 2019, interest expense

Dr interest expense 3,416,666

    Cr Discount on bonds payable 83,333

    Cr Interest payable 3,333,333

Mason Automotive purchased $6 Million dollars worth of supplies on account on January 2nd, 2019.      

Dr Supplies 6,000,000

    Cr Accounts payable 6,000,000

Adjusting entry

January 31, 2019, supplies expense

Dr Supplies expense 3,500,000

    Cr Supplies 3,500,000    

On January 2nd, Mason Automotive shipped an order to Panther Paws Corporation. The shipping terms were FOB shipping point and the value of the order was $95 Million and the inventory cost was $55 Million. Assume that this sale was made on account.          Dr Accounts receivable 95,000,000

    Cr Sales revenue 95,000,000

Dr Cost of goods sold 55,000,000

    Cr Inventory 55,000,000

Adjusting entry:

January 31, 2019, allowance for doubtful accounts (3%)

Dr Bad debt expense 2,850,000

    Cr Allowance for doubtful accounts 2,850,000

Mason Automotive purchased $150 Million dollars worth of inventory on January 2nd, 2019. $80 Million was paid with cash with the remaining balance on account. Mason notes that it will use a perpetual inventory system to track inventory.  

Dr Inventory 150,000,000

    Cr Cash 80,000,000

    Cr Accounts payable 70,000,000      

Mason Automotive buys a patent from Apple for $20 Million on January 3rd, 2019. The patent has a legal life of 20 years and the useful life was the same. Record the necessary entry as of January 3rd, 2019. Assume the patent was purchased using cash.          Dr Patent 20,000,000

    Cr Cash 20,000,000

Adjusting entry:

January 31, 2019, patent amortization expense

Dr Patent amortization expense 83,333

    Cr Patent 83,333

Mason Automotive pre-pays for Rent Expense for the next year of $12 Million and Insurance Expense of $3.7 Million on January 3rd, 2019.  

Dr Prepaid rent 12,000,000

Dr Prepaid insurance 3,700,000

    Cr Cash 15,700,000

Adjusting entries:

January 31, 2019, rent expense

Dr Rent expense 1,000,000

    Cr Prepaid rent 1,000,000

January 31, 2019, insurance expense

Dr Insurance expense 308,333

    Cr Prepaid insurance 308,333        

Mason Automotive purchases fixed assets of $100 Million that will have a useful life of 10 years and a salvage value of $20 million on January 4th, 2019. $20 million was paid with cash with the remaining balance on account. These assets are depreciated using the straight-line method.  

Dr Fixed assets 100,000,000

    Cr Cash 20,000,000

    Cr Accounts payable 80,000,000

Adjusting entry:

January 31, 2019, depreciation expense  

Dr Depreciation expense 666,667  

    Cr Accumulated depreciation - fixed assets 666,667    

On January 20th, Mason Automotive decides to purchase 500,000 shares of Treasury stock at $35 per share.

Dr Treasury stock 17,500,000

    Cr Cash 17,500,000

3 0
3 years ago
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