In a relationalâ database, the three basic operations used to develop useful sets of dataâ are:

Midpark Co.purchased a 30% interest in Cycling Pros, Inc. on December 31, 2020 for $1,000,000. On that date, Cycling Pros' net a

BARSIC [14]

Answer:

the total goodwill resulting from this operation = $1,333,333

Explanation:

Since Midpark paid $1,000,000 for 30% of Cycling Pros, that would mean that Midpark determined that the total value of Cycling was: $1,000,000 / 30% = $3,333,333

If the book value of Cycling was $2 million, then the total goodwill resulting from this operation = $3,333,333 - $2,000,000 = $1,333,333

3 0

3 years ago

Employer is desperate to hire sales people. Employer conducts initial telephone interviews and offers employment immediately ove

sveticcg [70]

Answer:

A. A claim by the employee will probably be based on promissory estoppel

Explanation:

Promissory estoppel doctrine refers to trying to enforce a promise. In other words, a person that makes a promise is responsible for performing it as long as:

the promissor made a promise and the promisee acted because of it
the promisee relied on the promise
the promisee suffers a loss due to the unfulfilled promise

7 0

2 years ago

Which of the following is not a factor of production?

Nataliya [291]

C. Goods and services

4 0

3 years ago

Wells Technical Institute (WTI), a school owned by Tristana Wells, provides training to individuals who pay tuition directly to

Vlada [557]

Answer:

See explanation Section

Explanation:

Adjusting Entries

Req. A, B

A. Since the partial amount of insurance policy has been expired-

Debit Insurance Expense $3,203

Credit Prepaid Insurance $3,203

An expense will be appeared and the current assets will be decreased.

B. Debit Teaching supplies Expense $7,528

Credit Teaching supplies $7,528

As the company has $2,776 supplies available from $10,304, teaching supplies expense will appear as $7,528 = (10,304 - 2,776)

Req. C, D, and E

C. Debit Depreciation expense-equipment $12,814

Credit Accumulated depreciation-equipment $12,814

D. Debit Depreciation expense-professional library $6,407

Credit Accumulated depreciation-professional library $6,407

E. Debit Unearned revenue $5,600

Credit Service revenue $5,600

Note: Monthly fee of $2,800 from November to December. Therefore, 2 months fee = $2,800*2 = $5,600 has been earned.

Req. F, G and H

F. Debit Accounts receivable $8,750

Credit Service revenue $8,750

Note: As WTI has not yet received any payment from October 15 to December 31, there will be 2 and a half months bill due. Each month = 3,500. Therefore, 2 months = $7,000, and a half-month = $(3,500 ÷ 2) = $1,750. Total receivable = $7,000 + $1,750 = $8,750.

G. Debit Salaries expense $400

Credit Salaries payable $400

Note: As there are two employees and two days salary have been accured, total salaries payable = $100 per day × 2 employees × 2 days = $400

H. Debit Rent Expense $2,062

Credit Prepaid rent $2,062

7 0

3 years ago

Who knows bts? just wondering

Likurg_2 [28]

Not the place to be asking but at this point they are pretty well known.

6 0

2 years ago

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