Answer:
Yes, Amelia responsible for the $75,000
Explanation:
It is given that Kendra and Amelia are jointly operating the art gallery, they are working together as a partnership. If a person does any work in the partnership business, other has full responsibility for partnership.
In the given question Kendra Has embezzled a $75,000 government grant, which will be responsible for partnership business but in the absence of Kendra, Amelia will also be responsible for all this.
Answer:
Explanation:
(a) Expropriation has Truly been a major concern for the Government through out the globe, as the when an entity or body which is supposed to work for the good of the poor people by making use of the Government property starts dealing in illegal ways to grab it as private or work on other properties which are private in nature,
b) The European invasion of the many countries across the globe had initially been to gain ,more and more wealth and power through business.
However, it is true that the quality of the institutions colonized by the Europeans is related to whether the climate or the diseases in the colonized regime allowed the European settlers to live in those areas.
(c) It is true that the low quality institutions make it difficult to protect property rights and enforce contracts. The rights of the people are all dependent on how the State allows the people to enjoy them.
(d) It is true that the low-quality institutions are central to the theory of poverty traps that states that countries need a big push to felicitate convergence in living standards to the developed world.
Answer:
A. Yes
B. $170,000
Explanation:
A. Yes For consolidation purposes, the direction of the transfers for either upstream or downstream does affect the balances to be reported here reason been that when calculating the noncontrolling interest balances in a situation where it is present we have to taken into consideration the deferral of unrealized gross profits on upstream sales where Downstream on the other hand are assigned to the parent in which they will be viewed as if they have no any impact on the outside interest.
B. Preparation of a consolidated income statement for the year ending December 31, 2018
AKRON, INC. AND CONSOLIDATED SUBSIDIARY
Income Statement Year Ending December 31, 2018
Sales $1,380,000
[1,100,000+(600,000-320,000)
Less Cost of goods sold ($575,000)
(500,000+50,000+15,000)
Gross profit $805,000
($1,380,000-$1,380,000)
Operating expenses 635,000
(400,000+220,000+15,000)
Consolidated net income $170,000
($805,000-635,000)
Therefore Consolidated net income will be $170,000
