First we have to identify first what AIM means. AIM means American Indian Movement. This group is an advocacy group in the United States. This was formed to address the sovereignty of the American Indian. Just like the other organization, AIM also used the media to voice out their opinion and messages to the public.
Answer:
Inventory in consignee: $ 22,005
Consignor profit: $ 6,810.6
Explanation:
We must remember that the goods cost is the sum of all it was needed to get the inventory ready for sell:
consigned goods: 88 x 490 = 43,120
shipping cost 890
Total Cost for Spencer 44,010
44,010 /88 freezers x 44 freezers at hand: 22,005
profit on the consignor:
sales revenue 44 x 710 = 31,240
commission 6% (1,874.4)
cost of good sold
44,010 / 88 x 44 freezers sold: (22,005)
advertising (240)
installation cost (310)
Profit 6,810.6
Answer:
A is not Managerial accounting the correct answer is Financial accounting
Answer:
Goodwill = 25,000
Explanation:
Goodwill is an intangible asset, is the differential reflected in a consolidated balance sheet immediately after the business combination between the purchase price of a company and the fair market value of identifiable assets and liabilities. Goodwill is recorded when the purchase price is higher than the sum of the fair value of all identifiable tangible and intangible assets purchased in the acquisition and the liabilities assumed in the process.
In this case:
Goodwill = Purchse Price - Net assets fair value
Goodwill = 340,000 - 315,000
Goodwill = 25,000
The difference between the book value and fair value of the acquired company are adjustments to the amount presented in the consolidated balance sheet.
Answer:
$14,887.5
Explanation:
Carrying Value of the bond is the net of Face value and any amortised discount on the bond.
Face Value of the bond = $19,000
Issuance Value = $14,300
Discount Value = $19,000 - $14,300 = $4,700
This Discount will be amortized over the bond's life until the maturity on straight line basis.
Amortization in each period = $4,700 / (8x2) = $293.75 semiannually
Until December 31, 2017 two payment have been made and $587.5 is amortized in the two semiannual periods.
Un-amortized Discount = $4,700 - $587.5 = $4,112.5
Carrying value of the bond = Face value - Un-amortized Discount = $19,000 - $4,112.5 = $14,887.5
