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On June 10, 20X8, Game Corporation acquired 60 percent of Amber Company’s common stock. The fair value of the noncontrolling interest was $25,600 on that date. Summarized balance sheet data for the two companies immediately after the stock purchase are as follows:Game Corp.Amber Company ItemBook ValueBook ValueFair Value Cash$35,800 $6,000 $6,000 Accounts Receivable47,000 11,000 11,000 […]

What types of defects or errors might the following organiozations measure and improve as part of a quality or Six Sigma initiative? a) a department store such as Wal MartB. Walt Disney World or a regional amusement park such as Six Flags

Part 1 of 1 – 80.0/ 100.0 Points Question 1 of 20 5.0/ 5.0 Points Flemish, one of the two official languages of Belgium, belongs to which of Europe’s major language families? A. Germanic B. Romance C. Slavic D. Celtic Question 2 of 20 5.0/ 5.0 Points The country with the largest economy in Europe, […]

(Lower-of-Cost-or-Market—Journal Entries) Dover Company began operations in 2012 and determined its ending inventory at cost and at lower-of-cost-or-market at December 31, 2012, and December 31, 2013. This information is presented below.CostLower-of-Cost-or-Market12/31/12$346,000$322,00012/31/13410,000390,000Instructions(a) Prepare the journal entries required at December 31, 2012, and December 31, 2013, assuming that the inventory is recorded at lower-of-cost-or-market, and a perpetual […]

Toy World began January with an inventory of 20 crates of toys that cost a total of $1,100. During the month, Toy World purchased and sold merchandise on account as follows: Purchase 1 30 crates @ $65Purchase 2 70 crates @ $70Sale 1 40 crates @ sale price of $100Sale 2 75 crates @ sale […]

Describe the purpose of a flexible budget.Suppose a manager claims flexible budgets are useful because costs are difficult to predict and flexibility is needed to change budgeted costs as input prices change. Do you agree? Explain.

PSA1.3 Ultimo Travel Goods Pty Ltd was formed on 1 July 2011. At 30 June 2012, Mark Austin, the managing director and major shareholder, decided to prepare a statement of financial position, which appeared as follows:ULTIMO TRAVEL GOODS PTY LTDStatement of Financial Positionas at 30 June 2012AssetsLiabilities and equityCash$20 000Accounts payable$40 000Accounts receivable55 000Notes payable15 […]

Disposal of Plant Assets: No Trade-Inse6.Times Printing owned a piece of equipment that cost $32,400 and on which it had recorded $18,000 of accumulated depreciation. The company disposed of the equip- ment on January 2, the first day of business of the current year.1. Calculate the carrying value of the equipment.2. Calculate the gain or […]

JUNE EXAMUnited Technologies has £50 million in excess cash and no debt. The firm expects to generate additional free cash flows of £40 million per year in subsequent years and will pay out these future free cash flows as regular dividends. United’s unlevered cost of capital is 10% and there are 10 million shares outstanding. […]

CVP—partial data; special order. Partial income statements of University Dining Hall Food Service for the first two quarters of Year 200X follow..transtutors.com/qimg/76d8fa80-471e-487a-a2b6-293a9b42be81.png”>UNIVERSITY DINING HALL FOOD SERVICEPartial Income Statements for First and Second Quarters of Year 200XFirst QuarterSecond QuarterSales at $3.60 per Meal (unit) …………………………………………………$ 36,000$63,000Total Costs …………………………………………………………………………………49,00067,000(Loss) …………………………………………………………………………………………$(13,000)$(4,000).transtutors.com/qimg/ad14dd47-f4d6-47ca-8fa6-5d2bffd50998.png”>Each dollar of variable cost per meal comprises […]