1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
svet-max [94.6K]
3 years ago
14

On January 1, 2016, Lester Company purchased 70% of Stork Corporation's $5 par common stock for $600,000. The book value of Stor

k net assets was $640,000 at that time. The fair value of Stork's identifiable net assets were the same as their book value except for equipment that was $40,000 in excess of the book value. In the January 1, 2016, consolidated balance sheet, goodwill would be reported at:A. $152,000. B. $177,143. C. $80,000. D. $0.
Business
1 answer:
Soloha48 [4]3 years ago
3 0

Answer:D. $0

Explanation:

Goodwill is the excess of the purchasing price of a company value of indentifiable net assets.. The purchasing price in this example is less than the value of the.

You might be interested in
Delta Insurers typically affirms or denies claims within 120 days after it receives proof of loss statements. Which statement is
mamaluj [8]

Answer:

Option A is correct

Explanation:

The 2 Option are:

<em>i. The firm Delta Insurers typically affirms claims within 120 days after it receives proof of loss statements </em>

<em>ii. The firm Delta Insurers typically denies claims within 120 days after it receives proof of loss statements.</em>

<em />

Delta insurance company is a typical insurance company that operates it business in line with the Insurance practice code in its operation country. Failure of perform those duties strictly will lead to revoke of operational license which will incur consequential loss for the Insurance Company.

Delta Insurers insures against peril of Vehicle, Fire, Burglary, Consequential loss, Business Interruption and so on.

The insurer however have its own mode of settling claims as stated in the Policy form. The statement might be stated in there that "<em>we typically affirms claims within 120 days after we receives proof of loss statements". </em>No insurer can states in its policy form that "<em>we typically affirms claims within 120 days after it receives proof of loss statements", t</em>his is against the code of conduct of Insurance business

<em />

7 0
2 years ago
describe the two eligibility requirements to qualify for deducting losses generated from real estate activities.
Zolol [24]

Two exceptions to the special passive activity rule for real estate activities provide the whole or partial offset of real estate rental losses against active or portfolio income, even when the business is otherwise regarded as a passive activity.

<h3>Which rules regarding passive activities for rental revenue are exceptions?</h3>
  • You have a stake in the yearly commerce or economic activities.
  • During the current tax year or at least 2 of the 5 tax years prior, the rental property was utilized primarily in that trade or company.
<h3>Only real estate is subject to passive loss restrictions, right?</h3>

Generally speaking, the following actions can result in passive losses (and income): leasing of equipment. Rental property (though there are some exceptions) a farm or a sole proprietorship in which the taxpayer has no substantial interest.

<h3>How can passive income be balanced?</h3>

Selling off your rental properties will help you make up for your passive losses. You don't actually have to sell the property that's causing the losses to balance them effectively. Any passive income will be offset by losses.

Learn more about special passive activity rule: brainly.com/question/28137310

#SPJ4

7 0
10 months ago
The following is a trial balance of Barnhart Company as December 31, Year 1: Account Title: Debit Credit Cash 12,500 Accounts Re
Tanzania [10]

Answer:

The total amount of assets is 15,750.

Explanation:

Reproducing the trial balance below for clarity:

Account Title                  Debit           Credit

Cash                                12,500

Accounts Receivable     3,250

Accounts Payable                               2,800

Common Stock                                   6,600

Retained Earnings                              4,500

Service Revenue                                7,450

Operating Expenses       5,100

Dividends                         500

Total                                21,350         21,350

Calculation of Total Assets:

Total assets = Cash + Accounts Receivable

                    = 12,500 + 3,250

                    = 15,750

Note that among the given accounts, accounts cash and accounts receivable are assets; accounts payable is a liability; common stock and retained earnings are part of the capital; service revenue is a form of revenue; while operating expenses and dividends are expenses.

7 0
3 years ago
Robert Solis is a salesman in a company that specializes in event management. He uses the Internet to identify potential compani
TiliK225 [7]

Answer:

B

Explanation:

4 0
3 years ago
In which of the following scenarios would you have the most money at the end of the year? 3% compounded yearly 2% compounded mon
larisa [96]
3% compounded yearly<span />
4 0
3 years ago
Read 2 more answers
Other questions:
  • Smiling Elephant, Inc., has an issue of preferred stock outstanding that pays a $2.85 dividend every year, in perpetuity. If thi
    11·1 answer
  • g Peng Company is considering an investment expected to generate an average net income after taxes of $2,700 for three years. Th
    11·1 answer
  • Consumers who agree to a "no interest” installment plan should be aware of
    14·1 answer
  • nnual salary allowance to Jack of $169,680. Interest of 7% on each partner's capital balance on January 1. Any remaining net inc
    12·1 answer
  • Brief Exercise 5-7 Record the adjustment for uncollectible accounts (LO5-3) At the end of the year, Dahir Incorporated’s balance
    9·1 answer
  • Schnusenberg Corporation just paid a dividend of D0 = $0.75 per share, and that dividend is expected to grow at a constant rate
    6·1 answer
  • The purpose of charging different prices to different groups of customers is to:.
    6·1 answer
  • One of the major disadvantages of a sole proprietorship is the: Group of answer choices Possibility of disagreements between own
    7·1 answer
  • Kyle would increase his consumption of turkey sandwiches from 7 to 9 per week if their price fell from $6 to $4. This illustrate
    9·1 answer
  • Paying by check helps a business to control cash when the ______. (select all that apply.)
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!