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
notsponge [240]
3 years ago
11

Paar Corporation bought 100 percent of Kimmel, Inc., on January 1, 2012. On that date, Paar's equipment (10-year life) has a boo

k value of $420,000 but a fair value of $520,000. Kimmel has equipment (10-year life) with a book value of $272,000 but a fair value of $400,000. Paar uses the equity method to record its investment in Kimmel. On December 31, 2014, Paar has equipment with a book value of $294,000 but a fair value of $445,200. Kimmel has equipment with a book value of $190,400 but a fair value of $357,000. What is the consolidated balance for the Equipment account as of December 31, 2014?$612,600.$802,200.$574,000.$484,400.
Business
1 answer:
Leona [35]3 years ago
6 0

Answer: Option (C) is correct.

Explanation:

Given that,

On January 1, 2012

Paar's equipment (10-year life) has a book value(A) = $420,000

Fair value(B) = $520,000

and

Kimmel has equipment (10-year life) with a book value(C) = $272,000

Fair value(D) = $400,000

On December 31, 2014

Paar has equipment with a book value(E) = $294,000

Fair value(F) = $445,200

and

Kimmel has equipment (10-year life) with a book value(G) = $190,400

Fair value(H) = $357,000

Goodwill recognized by Paar corporation on Jan 1, 2012 = $400,000 - $272,000

= $128,000

Goodwill Amortized = \frac{128,000}{10} \times3

                                 = $38,400

Consolidated balance for the Equipment account as of December 31, 2014:

= E + G + Goodwill recognized by Paar corporation - Goodwill Amortized

= $294,000 + $190,400 + $128,000 - $38,400

= $574,000

You might be interested in
Mauve starts a business that specializes in procuring and selling antique items. Her business caters specifically to individuals
stepan [7]

Answer:

The opportunity of exploiting market niches is highlighted in the given scenario.

Explanation:

A market niche is "a small but profitable segment of a market suitable for focused attention by a marketer. Market niches do not exist by themselves, but are created by identifying needs or wants that are not being addressed by competitors, and by offering products that satisfy them. See also market segmentation. "

Reference: WebFinance Inc. “What Is Market Niche? Definition and Meaning.” BusinessDictionary.com, 2019

6 0
3 years ago
When determining the level of control and independence of an employee or independent contractor, which category covers how the w
tatyana61 [14]

Answer:

A) Behavioural

Explanation:

Behavioral control refers to facts that show whether there is a right to direct or control how the worker does the work. A worker is an employee when the business has the right to direct and control the worker. The business does not have to actually direct or control the way the work is done as long as the employer has the right to direct and control the work.

8 0
3 years ago
Kotrick Company has beginning inventory of units and expected sales of units. If the desired ending inventory is ​units, how man
saw5 [17]

Answer: $26,000

Explanation:

Ending Inventory = Beginning Inventory + Units to be produced - Sales

18,000 = 15,000 + Units to be produced - 23,000

Units to be produced = 18,000 + 23,000 - 15,000

Units to be produced = $26,000

7 0
3 years ago
The descriptions below give the responses of four individuals to a Bureau of Labor Statistics (BLS) survey of employment. Use th
aleksley [76]

<u>Explanation:</u>

A. This is the case of Cyclical unemployment here lorraine is just graduated and does not find any job inspite of applying with many of the employers. Here the economic condition of the country is below its full capacity.

B. It is example of potential frictional unemployment as George takes time to move on from current job to a part time job. Frictional unemployment is the time taken to move from one job to another.

C. This is an example of structural and technological unemployment as there is a mismatch between the labor market required skills and the skills of the candidate. Christine has bank teller skills but it is not matched with skills expected by banks.

D. It is called as frictional unemployment where Ricardo is out of job due to lay off by the company. The period between a jobless situation and job is frictional unemployment.

5 0
2 years ago
Question 8 of 10
s344n2d4d5 [400]

It is important to name an executor B. To provide that beneficiaries acquire whatever they want from the estate.

<h3>Who is an executor?</h3>

An executor exists as someone who stands responsible for executing or following an assigned task or duty. The feminine form, executrix, may sometimes be utilized.

An executor typically presents the will for probate, brings the action to rescue the assets of the estate, creates distributions of effects to beneficiaries, and produces the debts and taxes of the estate.

An executor handles your estate when it's in probate (aka the procedure of being distributed and carried out). Particularly, they begin and observe through the probate approach. They also manage your assets, pay your obligations, and allocate property to your heirs as summarized in your will

Hence, It is important to name an executor B. To provide that beneficiaries acquire whatever they want from the estate.

To learn more about executor refer to:

brainly.com/question/10308372

#SPJ9

7 0
1 year ago
Read 2 more answers
Other questions:
  • Northwest Delivery Company acquired an adjacent lot to construct a new warehouse, paying $75,000 and giving a short-term note fo
    12·1 answer
  • The budget process involves doing all of the following except a. periodically comparing actual results with the goals b. establi
    8·1 answer
  • A change in which variable will change the market demand for a​ product? A. technology B. population C. the prices of substitute
    10·1 answer
  • In its first year, Raydine Inc. reported sales revenue of $1,300,000, net income of $200,000, and paid dividends of $26,000 on c
    5·1 answer
  • All of the following are ways that you as a teen or young adult can improve your credit score EXCEPT...
    8·1 answer
  • Show the total cost expression and calculate the EOQ for an item with holding cost rate 18%, unit cost $8.00, annual demand of 4
    15·1 answer
  • Al, walks in off the street, says the grounds could use some sprucing up, and offers to do it for $8 an hour. Management gives h
    5·1 answer
  • Do you agree with Unilever’s decision to link its brands with efforts to encourage healthy and environmentally sustainable behav
    9·1 answer
  • Which of the following is not true about a good resume?
    12·1 answer
  • Individual Retirement Accounts (IRAs) allow people to shelter some of their income from taxation.
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!