Answer:
(C) Reported when the fair value of the acquiree is higher than the fair value of the net identifiable assets acquired.
Explanation:
Through accounting, goodwill is an intangible asset that occurs when an investor acquires an existing business. Goodwill includes properties which can't be identified separately.
Goodwill is reported when a business acquires (purchases) another firm and the purchase price exceeds the fair value of the measurable tangible and intangible assets purchased, minus the expected liabilities.
Answer:
a. Calculate the balance in retained earnings at the time of the change (beginning of 2017) as it would have been reported had FIFO been previously used.
b. Prepare the journal entry to record the change in accounting principle at the beginning of 2017.
- Dr Inventory 80,000
- Cr Income taxes payable 16,800
- Cr Retained earnings 63,200
Explanation:
inventory under FIFO would have been $80,000 higher, that means that COGS were overstated by $80,000 and net earnings were understated by $80,000.
retained earnings 2016 = $1,750,000
tax rate 21%
Dr Inventory 80,000
Income taxes payable 16,800
Retained earnings 63,200
Retained earnings = $1,750,000 + $63,200 = $1,813,200
When companies change from LIFO to FIFO, they must adjust their income statement and balance sheet in a prospective way because it will affect the future value of their accounts. But when a company changes from FIFO to LIFO, no adjustment is required.
<span>Helen should includes: name, title, address, email address, telephone, relationship to candidate.
Helen should includes several ways to contact her references in order to make sure that employer could contact her references in case that he/she is not contactable through one medium.</span>
Answer:
c. financial resources
Explanation:
Based on the information provided it can be said that the most likely reason for the success of Lezos in international markets are their financial resources. That is because (like mentioned in the question) they are able to keep supporting these projects financially for as much time as they need in order for them to actually become successful. Therefore there is no other factor in play except for money.