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goldfiish [28.3K]
3 years ago
10

On January 1, 2021, Ackerman sold equipment to Brannigan (a wholly owned subsidiary) for $200,000 in cash. The equipment had ori

ginally cost $180,000 but had a book value of only $110,000 when transferred. On that date, the equipment had a five-year remaining life. Depreciation expense is computed using the straight-line method. Ackerman reported $300,000 in net income in 2021 (not including any investment income) while Brannigan reported $98,000. Ackerman attributed any excess acquisition-date fair value to Brannigan's unpatented technology, which was amortized at a rate of $4,000 per year. What is consolidated net income for 2021
Business
1 answer:
just olya [345]3 years ago
5 0

Answer:  $‭322,000‬

Explanation:

Consolidated income = Net income from Ackerman + Net Income from Brannigan + Excess depreciation - Amortization of unpatented tech - Gain from transfer of equipment

Excess depreciation = New depreciation of equipment - Old depreciation

Depreciation is straight line;

= (200,000/5 years) - (110,000/5)

= $18,000

Gain from transfer of equipment

= Sales - Book value

= 200,000 - 110,000

= $90,000

Consolidated income = 300,000 + 98,000 + 18,000 - 4,000 - 90,000

= $‭322,000‬

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If the price elasticity of demand coefficient is 4, then:a. a price increase of 1% will reduce quantity demanded by 1/4%b. A pri
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Answer:

A price increase of 1% will reduce quantity demanded by 4%

Explanation:

If the price elasticity is 4 then, this demand is highly responsive to changes in price.

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we must remember that the price-elasticity is determinate  like:

↓QD / ΔP   = price-elasticity

if the cofficient is 4 then a 1% increase in price:

↓QD / 0.01 = 4

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3 years ago
Explain how consumer and producer surplus affect economic well-being. When the price of a good or service is – enough, it will e
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the general welfare will be the sum of consumer surplus and producer surplus.

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4 0
3 years ago
gThe following data are available for Martin Solutions, Inc. Year 2 Year 1 Sales $1,139,600 $1,192,320 Beginning inventory 80,00
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Answer and Explanation:

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For Year 2

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Inventory turnover = Cost of goods sold ÷ Average inventory

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Days in inventory = 365 ÷ Inventory turnover ratio

= 365 ÷ 6.6

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2 years ago
An Iowa state statute requires amusement parks to maintain equipment in specific condition for the protection of patrons. Jack’s
abruzzese [7]

Answer:

The correct answer is letter "C": negligence per se.

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