1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Fantom [35]
3 years ago
8

On January 1, 20X9, Pallet Company acquires 80 percent ownership in Slat Corporation for $200,000. The fair value of the noncont

rolling interest at that time is determined to be $50,000. Slat reports net assets with a book value of $250,000 and fair value of $250,000. Pallet Company reports net assets with a book value of $600,000 and a fair value of $650,000 at that time, excluding its investment in Slat. What will be the amount of consolidated net assets that would be reported immediately after the combination?
Business
1 answer:
polet [3.4K]3 years ago
7 0

Answer:

<em>Consolidated Assets 850,000</em>

Explanation:

We need to calcualte the alue of the purchased portion of Slat.

total assets - non-controlled = proportional owned assets

250,000 - 50,000 = 200,000

The consolidated net assets would be:

Pallet Company 650,000

Slat Company    250,000

non-controlling    (50,000)

<em>Consolidated Assets 850,000</em>

You might be interested in
Before the year began, Mitchell Manufacturing estimated that manufacturing overhead for the year would be $175,500 and that 13,0
masya89 [10]

Answer:

B, 195750

Explanation:

Let's first figure out the manufacturing overhead per direct labor hour

175500/13000= 13.5

So we allocate 13.5 in manufacturing overhead per direct labor hour

Let's the mulitply this by the number of actual direct labor hours

14500*13.5=195750

6 0
3 years ago
Emerson Enterprises is constructing a building. Construction began in 2018 and the building was completed on December​ 31, 2018.
kirill115 [55]

Answer:

Explanation:

$1,050,000

5 0
3 years ago
On its December 31, 20X5 balance sheet, Shin Co. has income tax payable of $13,000 and a current deferred tax asset of $20,000,
mariarad [96]

Answer:

$10,000

Explanation:

To calculate income tax expense we must add income liability for the year, minus the changes in deferred tax accounts and add the change in value for deferred tax assets.

income tax expense = $13,000 - ($20,000 - $15,000) + ($20,000 x 10%) = $13,000 - $5,000 + $2,000 = $10,000

3 0
3 years ago
"If Lazer Co. desires to lock in the maximum it would have to pay for its net payables in euros but wants to be able to capitali
Crazy boy [7]

Answer:

D) purchasing euro call options.

Explanation:

If Lazer purchased euro call options it would be basically buying the right to purchase euros at a specified currency exchange rate. This way Lazer would know what is the maximum amount it will have to pay for the euros it needs to cover its debts. The call option give the buyer the right to purchase the euros but not the obligation, so if the euro depreciates, then Lazer can simply decide to not use the call option.

5 0
3 years ago
From an economic perspective, a student’s decision to go to the movies instead of studying for a test indicates that in the stud
shepuryov [24]

Answer:

It  means that the  marginal cost of going to the movies is less than the marginal benefit of going to the movies.

Explanation:

If the student chooses to go to the movies, it means that he thinks he has less to lose when he foregoes studying for a test. Even though logically it may appear that the latter would be a better option, according to him, the 2 or so hours at the movies would provide an extra value like if he went with a family member who he cares about. That probably beats the cost of staying up late to revise for the test.

6 0
3 years ago
Other questions:
  • Bradford Services Inc. (BSI) is considering a project that has a cost of $10 million and an expected life of 3 years. There is a
    14·1 answer
  • The purpose of posting is to A. list the transactions in chronological order in the journal. B. provide an explanation of the tr
    5·2 answers
  • After a retiring from a successful business​ career, you would like to make a donation to your university. This donation will go
    9·1 answer
  • 1. The level of prices and the value of money
    14·1 answer
  • If the credit to record the purchase of supplies on account is not posted
    14·1 answer
  • An example of automatic fiscal policy is Question 19 options: the unemployed automatically become eligible for unemployment bene
    8·1 answer
  • ABC Co. had 600,000 shares of Common Stock, 40,000 shares of Convertible Preferred Stock, and $3,000,000 of 6% Convertible Bonds
    9·1 answer
  • "What are the results of a contractionary monetary policy, which intends to slow down the economy, and what are not? You are cur
    9·2 answers
  • On January 1, 2021, Wetick Optometrists leased diagnostic equipment from Southern Corp., which had purchased the equipment at a
    11·1 answer
  • The fed’s efforts to manage interest rates and thus the availability of credit is known as:__________
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!