Answer:
a written agreement
Explanation:
A contract is a form of a written agreement.
Answer:
d. Recognized as an ordinary gain from a bargain purchase.
Explanation:
ASC 805-20 provides further guidance on the acquisition method, specifically discussing the recognition and measurement of the following:
Identifiable assets acquired Liabilities assumed Noncontrolling interests, if any, in the acquiree
Answer:
Enterprise Zone
Explanation:
Based on the information provided within the question in regards to the situation at hand, Parker most likely chose to locate in an area called an Enterprise Zone. These are zones that have government policies offering reduced regulations, tax breaks, and other infrastructure incentives in order to get more business into the zone. Which is exactly what Parker needs and is looking at for his business.
Answer:
not change.
Explanation:
Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year
GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export
Net export = exports – imports
When exports exceeds import there is a trade deficit and when import exceeds import, there is a trade surplus.
Items not included in the calculation off GDP includes:
1. services not rendered to oneself
2. Activities not reported to the government
3. illegal activities
4. sale or purchase of used products
5. sale or purchase of intermediate products
6. Measure of welfare e.g. effects of pollution
Answer:
$2,468,000
Explanation:
LIFO reserve = “Allowance to Reduce Inventory to LIFO” = the difference between the inventory method used for internal reporting purposes and LIFO.
LIFO effect = the change in the Allowance balance from one period to the next = the adjustment that companies must make to the accounting records.
Dr Cost of Goods Sold $168,000
($486,000- $318,000)
Cr Allowance to Reduce Inventory to LIFO $168,000
$2,300,000 +$168,000 =$2,468,000
Therefore the amount that Bramble should report as Cost of Goods Sold in the 2018 income statement is $2,468,000