Answer:
C. Create a rotating assignment so each team member shares note taking.
Explanation:
In the case noted in the question above, there is a situation that could be unpleasant if it were decided by some type of bias.
Therefore, the most appropriate alternative for the team to address this situation would be to create a rotating assignment for each team member to share the notes. This way it would not happen that a team member is always chosen to perform a task that causes dissatisfaction in the whole team. Creating a rotating assignment to carry out the task would guarantee the uniformity of the task assignment and avoid possible dissatisfactions, inequalities and interpersonal conflicts that could arise.
Answer:
The amount should be recorded as interest expense in the journal entry made each six months is $6,000
Explanation:
In order to calculate the amount should be recorded as interest expense in the journal entry made each six months, we have to calculate the interest annually with the following formula according to the given data:
interest annually=Issue Price of Bond×rate of interest
=$200,000
×6%
=$12,000
Therefore, the interest semiannually would be calculated as follows:
interest semiannually=$12,000/2=$6,000
The amount should be recorded as interest expense in the journal entry made each six months is $6,000
Answer:
Journal Entry
Dr. Contingent Consideration Liability $500,000
Cr. Goodwill $500,000
Explanation:
It is assumed that the decline in the fair value is the correction of the acquisition entry. It means due to this event the consideration liability and goodwill are overstated we need to rectify the balances.
Hence,
The contingent consideration liability will be debited to reduce the liability and goodwill will also be decreased by crediting the goodwill account.
Answer:
The authorized common stock shares remain 1,000,000 shares.
Explanation:
The authorized shares are not affected by movements in the shares, like issue of shares, repurchase, and resale of treasury stock shares. The authorized shares, therefore, represent the number of shares that the company is legally bound to issue without exceeding. The implication is that the company is free to issue shares less than or equal to the authorized shares, but it may not issue more than the authorized until it obtains a new authorization.
The movements are accounted for in separate accounts called Issued Common Stock Account and Treasury Stock Account. The treasury stock account is a contra account to the Common Stock.
