Answer:
The amount that Plunkett should report in ending inventory on December 31 is $156,300
Explanation:
The computation of the ending inventory is shown below:
= Ending inventory balance - FOB destination goods purchased - goods being held on consignment
= $215,500 - $44,100 - $15,100
= $156,300
The other items would not be adjusted because the other items are not included in the ending inventory so they are not being considered in the computation part.
Answer:
$224,000
Explanation:
Goodwill from acquiring Mini Company = Cash consideration paid - Fair value of Mini Company's plant and equipment = $371,000 - $147,000 = $224,000
The net increase in Maxi's assets only after paying the cash for Mini is $224,000 i.e. the goodwill from acquiring Mini Company.
Dominant culture: male, white, middle-class, English speaking, heterosexual
Not a member of: Chinese, transgender, poverty, etc.
Answer:
D) $7,000 negative
Explanation:
<em>What amount of net cash flow would be shown in the financing section of the statement of cash flows?</em>
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Amount of net cash flow to be shown in the financing section of the statement of cash flows = Decrease in Account payable - Increase in accrued liabilities + Borrow of new long term notes payable - Repayment of long term notes payable
= -$2,000 + $1,000 + $34,000 - $40,000
= -$7,000