<span>provide revenues for the government to use for legitimate purposes.</span>
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<span> Please mark Brainliest.</span>
Answer:
Cullumber Company
Journal Entry:
Debit Loss on Goodwill Impairment $34,200
Credit Goodwill $34,200
To record the loss on goodwill impairment.
Explanation:
a) Data and Calculation:
Fair value = $820,800
Carrying value of net identifiable assets, including goodwill = $855,000
Goodwill impairment = $34,200 ($855,000 - $820,800)
b) Cullumber, which acquired Blossom is expected to check for the impairment of goodwill yearly. The impairment occurs when the carrying value of the net identifiable assets of Blossom is more than the fair value of Blossom. Generally Accepted Accounting Standards require the annual review of the fair value of goodwill to check for its impairment. By the above entry, the goodwill will be reduced by $34,200 and a loss debited in Cullumber's accounts.
Answer:
a reduced availability of these badly needed products.
Explanation:
Price control is when the government imposed a price regime that is aimed at protecting the consumer from over pricing by sellers. When price ceilings are imposed there is a maximum price the the seller cannot go above in pricing of products.
In this case if ocal governments imposed price controls that prevented sellers from raising their prices for badly needed products like plywood and generators. It will result in reduced availability of the products to these areas.
Sellers tend to reduce amount supplied, due to scarcity consumers will have to buy at black market prices that are higher.
