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
Anna [14]
2 years ago
13

Business combinations historically have been accounted for as either purchases or poolings of interests. Now, with SFAS 141(R),

the acquisition method is required. Why did FASB change the rules?
Business
1 answer:
lora16 [44]2 years ago
8 0

Answer:

Explanation:

FASB amended the rules to improve the comparability of the information about business combinations provided in financial reports. A variable interest entity is a legal business.

The Financial Accounting Standards Board issued SFAS 141(R) in 2007 December, to substitute the SFAS 141. Evaluating the comment letters, articles and industry publications, they analyzed issues that were with SFAS 141 from the perspective of professionals, users and the FASB; it was evaluated 141(R) to ascertain these weaknesses and they were corrected with solutions been profound in 141(R).

You might be interested in
Frank plans to move to a large city after graduation. What financial factors does he need to consider about his new residence wh
wariber [46]

Answer: Housing, Food, Bills, Transportation

Explanation: common sense my guy

7 0
2 years ago
Read 2 more answers
Changes in stockholders' equity Listed are the equity sections of balance sheets for years 2014 and 2015 as reported by Mountain
svet-max [94.6K]

a. Mountain Air's net income for fiscal 2015 is $910,000.

b. The number of new shares issued is 1,120,000.

c. The price per share of the new stock sold during 2015 is $4.20.

d. The original price of the shares was $2.08.

a. The net income is

= $1,500,000 - $800,000 + $210,000

= $910,000

b. The number of  New Share issued is

= 1,600,000 - 480,000

= 1,120,000

c. The price of the new stock per share sold is  

Par Value 1,120,000

Add: Paid In excess Of par (4,100,000 - 520,000) 3,580,000

Net Proceeds from issuance of shares 4,700,000

Number of New Share Issued 1,120,000

Now  

The Average price per share of the new stock sold is

= 4,700,000 ÷ 1,120,000

= $4.20

d. The original price of the share is  

The original issuance price is

= (Paid-in-capital account + common stock account) ÷ original shares  

= (520,000 + 480,000) ÷ 480,000

= $2.08

Therefore we can conclude that

a. Mountain Air's net income for fiscal 2015 is $910,000.

b. The number of new shares issued is 1,120,000.

c. The price per share of the new stock sold during 2015 is $4.20.

d. The original price of the shares was $2.08.

Learn more: brainly.com/question/13931207

5 0
2 years ago
Assume Argentina has production possibilities to produce either 35 batches of apples or 70 batches of peaches using 100 worker h
konstantin123 [22]

Answer:

40

Explanation:

Batches of apples produced in one hour = 35/100 = 0.35

Batches of peaches produced in one hour = 70/100 = 0.70

total hours it would take to produce 15 batches of apples = 15 / 0.35 = 42.86 =  43 hours

this would leave (100 - 43) 57 hours to make peaches

Batches of peaches that can be made in 43 hours = 57 x 0.7 = 39.9 = 40 batches

7 0
3 years ago
Suver Corporation has a standard costing system. The following data are available for June: Actual quantity of direct materials
Amiraneli [1.4K]

Answer:

$8.20 per pound

Explanation:

The computation of the actual price per pound is shown below:

Material price variance = (Standard price per pound - Actual price per pound) × Actual quantity purchased

-$7,000 = ($8.00 - Actual price per pound) × 35,000

$8.00 - Actual price per pound = -$7,000 ÷ 35,000

Actual price per pound = $8.20 per pound

Hence, the actual price per pound is $8.20 per pound

We simply applied the above formula so that the correct value could come

And, the same is to be considered

4 0
3 years ago
Rick's Internet Corporation's balance in Retained Earnings is $30,000. The board of directors directs that $15,000 be appropriat
gtnhenbr [62]

<u>Answer</u> is D. remain at $30,000.

<u>Explanation:</u>

Rick's Internet Corporation balance in retained earnings = $30,000

Appropriated earning for future business expansion = $15,000

This appropriated earning set for future use will have no effect on the total retained earnings, because for appropriate retained earnings,  the entry is to debit the retained earnings account.

Also, it would be board's decision if they want to use the money from the retained earnings or add more capital to it.

6 0
3 years ago
Other questions:
  • Curling is a sport where teams slide stones on ice and attempt to hit targets. Teams consist of four players. Suppose that Bob,
    6·1 answer
  • Suppose that a country has the resources to produce 3 million cars &amp; 100 million tons of iron ore every year. why is it a pr
    8·1 answer
  • What are three ways you can prevent others from committing check fraud with your check​
    13·1 answer
  • Bondholders are creditors of the issuing corporation. true
    6·1 answer
  • Which of the following is true about the Grange? 1. It established cooperatives for storing and marketing farm output. 2. It pus
    11·1 answer
  • Suppose Iceland goes from being an isolated country to being an exporter of coats. As a result, a. consumer surplus increases fo
    9·1 answer
  • The mode of transportation that results in the lowest transportation cost will also lower total costs for a supply chain.
    15·1 answer
  • Harper Company lends Hewell Company $14,400 on March 1, accepting a four-month, 6% interest note. Harper Company prepares financ
    5·1 answer
  • A firm with a WACC of 10% is considering the following mutually exclusive projects:
    15·1 answer
  • The basis of strategic position through serving few needs of many customers is known as:_____.
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!