All of these are a type of market participant :) I just took this test
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:
On t-account, it will be logged as Accounts Receivable $4,500 and Service Revenue $4,500.
Explanation:
a) Data and Analysis:
Accounts Receivable $4,500 Service Revenue $4,500
b) The company's assets have been increased by $4,500, and its Equity has been increased by $4,500 (through Service Revenue in Retained Earnings). When the customer pays for the work completed, the Cash account will be debited and the Accounts Receivable credited.
Answer:
do you need help with that or are you saying that
Explanation:
The Nederlander Organization must effectively use teaser and revealers promotion campaigns to take its musicals to foreign markets.
Option a
<u>Explanation:</u>
Nederlander Organization will adopt to the use of teaser and revealers promotion campaigns for its musical foreign market. After doing the market analysis and known about the customer’s interest the company will go with the strategy called revealers promotion campaigns.
This is an advertising campaign which creates a curiosity in the minds of consumers till the brands last ad. This type of campaign will keep the consumers always think about the product and ad which is going to be launched soon.
