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grandymaker [24]

3 years ago

8

wendy and doug would like to purchase a home. their combined gross monthly income is 4200. how much can they afford for a monthl

y payment on the new home

1 answer:

dusya [7]3 years ago

5 0

They could do $1,500 a month payment to the renter.

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Patton has acquired several other companies. Assume that Patton purchased Kate for $ 6 comma 000 comma 000 cash. The book value

ruslelena [56]

Answer:

1. $2,000,000

2. <u>Accounting Entry</u>

<em>Assets $17,000,000 (debit)</em>

<em>Goodwill $2,000,000 (debit)</em>

<em>Liabilities $13,000,000 (credit)</em>

<em>Investment in Kate $6,000,000 (credit)</em>

Explanation:

The Acquisition of Kate must be done at the fair value of Assets and Liabilities at the acquisition date instead of book values.

Goodwill is the excess of the Purchases Price over the Net Identifiable assets acquired.

<u>Calculation of Goodwill :</u>

Purchase Price $6,000,000

Less Net Identifiable Assets

Assets at Fair Value $17,000,000

Less Liabilities at Fair Value ($13,000,000) ($4,000,000)

Goodwill $2,000,000

<u>Accounting Entry</u>

Assets $17,000,000 (debit)

Goodwill $2,000,000 (debit)

Liabilities $13,000,000 (credit)

Investment in Kate $6,000,000 (credit)

4 0

3 years ago

On April 1, Townsley Company sold merchandise with a selling price of $10,000 on account to Trout Company, with terms 3/10, n/30

mamaluj [8]

Answer and Explanation:

The journal entry is shown below:

Cash $8,730

Sales Discount ($9,000 × 3%) $270

To Accounts receivable $9,000 ($10,000 - $1,000)

Here cash and sales discount is debited as it increased the assets and discount while on the other hand the account receivable should be credited as it reduced the assets

3 0

2 years ago

The CEO introduced another overseas effort by noting that it represented an attempt to confront an international competitor. The

ahrayia [7]

The CEO was most likely referring to the following efforts : <u>d) a distribution center established in London to preempt the growth of a British car manufacturer</u>.

<u>Explanation</u>:

The company establishing its trade and investment activities across the national borders is known as international business.

The following are some of the factors of production:

i) Manufacturing infrastructure

ii) Technology

iii) Managerial talent

It is important for a company to take more effort and establish its distribution center overseas to confront the international competitors. In the above scenario, the CEO decided to establish his distribution center in London to block the growth of a British car manufacturer.

7 0

2 years ago

All of the following are aspects of macroeconomics EXCEPT: a. Foreign trade. b. The production decisions of a pharmaceutical fir

mixas84 [53]

Answer:

b. The production decisions of a pharmaceutical firm

Explanation:

The production decisions of a pharmaceutical firm is an aspect of microeconomics.

Macroeconomics is a branch of economics that studies the economy

Microeconomics is a branch of economics that studies individuals, firms and households.

I hope my answer helps you

3 0

3 years ago

What is meant by the term design mix -Business

Rina8888 [55]

Where its triangle which takes into account a basic design like economic structure etc....

5 0

3 years ago