IQ
idrees qaisrani
Answers (6)
IQ
Answered
Milgram found particularly high levels of obedience when participants were members of a group whose members all obeyed.
On Jul 29, 2024
True
IQ
Answered
To maintain the product consistency customers have come to expect from McDonald's,the organization has entered into a single long-term contract with J.R.Simplot to supply it with potatoes.
On Jul 27, 2024
True
IQ
Answered
Environmental __________ are the laws designed to protect the natural environment against undue harm by individuals and organizations.
On Jun 28, 2024
regulations
IQ
Answered
On September 1, 20X7, Spike Limited decided to buy 100% of the outstanding shares of Volley Inc. for $1,200,000, paid for with the issuance of shares. Acquisition costs for the deal totaled $30,000: $20,000 related to the issue of the shares and the remaining amount for legal, valuation, and administrative costs. All of these costs were paid in cash. In addition Spike has agreed to pay an additional $250,000 if the revenues of Volley have a 5% growth over the next two years from the date of the acquisition. It has been determined that the fair value of this contingent consideration is $175,000.
The balances showing on the statement of financial position for the two companies at August 31, 20X7, are as follows:
After a review of the financial assets and liabilities, Spike determines that some of the assets of Volley have fair values different from their carrying values. These items are listed below:
Property, plant, and equipment: fair value is $1,350,000
Patent: fair value is $255,000
Brand name: fair value is $135,000
Required:
Determine the amount of goodwill that will be recorded on the business combination.
Prepare the consolidated statement of financial position as at September 1, 20X7.
The balances showing on the statement of financial position for the two companies at August 31, 20X7, are as follows:
After a review of the financial assets and liabilities, Spike determines that some of the assets of Volley have fair values different from their carrying values. These items are listed below:Property, plant, and equipment: fair value is $1,350,000
Patent: fair value is $255,000
Brand name: fair value is $135,000
Required:
Determine the amount of goodwill that will be recorded on the business combination.
Prepare the consolidated statement of financial position as at September 1, 20X7.
On Jun 27, 2024
Calculation of goodwill:
Fair value of consideration:
Issuance of shares $1,200,000 Contingent consideration 175,000‾ Total consideration paid or payable $1,375,000\begin{array}{ll}\text { Issuance of shares } & \$ 1,200,000 \\\text { Contingent consideration } & \underline{175,000} \\\text { Total consideration paid or payable } & \$ 1,375,000\end{array} Issuance of shares Contingent consideration Total consideration paid or payable $1,200,000175,000$1,375,000 The acquisition costs are not part of the acquisition. Instead, the costs to issue the shares of $20,000 are deducted from shares issued, and the other costs of $10,000 are expensed. Consideration received:
Fair value of net assets acquired:
Cash $20,000 Accounts receivable 35,000 Inventories 80,000 Marketable securities 45,000 Property, plant, and equipment 1,350,000 Patent 255,000 Band name 135,000 Current liabilities (280,000) Long-term liabilities (620,000)‾1,020,000 Goodwill $355,000\begin{array}{ll}\text { Cash } & \$ 20,000 \\\text { Accounts receivable } & 35,000 \\\text { Inventories } & 80,000 \\\text { Marketable securities } & 45,000 \\\text { Property, plant, and equipment } & 1,350,000 \\\text { Patent } & 255,000 \\\text { Band name } & 135,000 \\\text { Current liabilities } & (280,000) \\\text { Long-term liabilities } & \underline{(620,000)}&1,020,000\\\text { Goodwill }&&\$355,000\\\end{array} Cash Accounts receivable Inventories Marketable securities Property, plant, and equipment Patent Band name Current liabilities Long-term liabilities Goodwill $20,00035,00080,00045,0001,350,000255,000135,000(280,000)(620,000)1,020,000$355,000 Spike Limited
Consolidated Statement of Financial Position September 1,20X7 1,20X7 1,20X7
Fair value of consideration:
Issuance of shares $1,200,000 Contingent consideration 175,000‾ Total consideration paid or payable $1,375,000\begin{array}{ll}\text { Issuance of shares } & \$ 1,200,000 \\\text { Contingent consideration } & \underline{175,000} \\\text { Total consideration paid or payable } & \$ 1,375,000\end{array} Issuance of shares Contingent consideration Total consideration paid or payable $1,200,000175,000$1,375,000 The acquisition costs are not part of the acquisition. Instead, the costs to issue the shares of $20,000 are deducted from shares issued, and the other costs of $10,000 are expensed. Consideration received:
Fair value of net assets acquired:
Cash $20,000 Accounts receivable 35,000 Inventories 80,000 Marketable securities 45,000 Property, plant, and equipment 1,350,000 Patent 255,000 Band name 135,000 Current liabilities (280,000) Long-term liabilities (620,000)‾1,020,000 Goodwill $355,000\begin{array}{ll}\text { Cash } & \$ 20,000 \\\text { Accounts receivable } & 35,000 \\\text { Inventories } & 80,000 \\\text { Marketable securities } & 45,000 \\\text { Property, plant, and equipment } & 1,350,000 \\\text { Patent } & 255,000 \\\text { Band name } & 135,000 \\\text { Current liabilities } & (280,000) \\\text { Long-term liabilities } & \underline{(620,000)}&1,020,000\\\text { Goodwill }&&\$355,000\\\end{array} Cash Accounts receivable Inventories Marketable securities Property, plant, and equipment Patent Band name Current liabilities Long-term liabilities Goodwill $20,00035,00080,00045,0001,350,000255,000135,000(280,000)(620,000)1,020,000$355,000 Spike Limited
Consolidated Statement of Financial Position September 1,20X7 1,20X7 1,20X7
IQ
Answered
Which of the following should NOT be included as part of manufacturing overhead at a company that makes office furniture?
A) Manufacturing equipment depreciation.
B) Sheet steel in a file cabinet made by the company.
C) Idle time for direct labour.
D) Taxes on a factory building.
A) Manufacturing equipment depreciation.
B) Sheet steel in a file cabinet made by the company.
C) Idle time for direct labour.
D) Taxes on a factory building.
On May 29, 2024
B
IQ
Answered
Identify the type of bias in the sentence "It requires great dedication to be a doctor because a doctor must always put his patient's interests before his own."
A) Ethnic bias
B) Gender bias
C) Age bias
D) Disability bias
A) Ethnic bias
B) Gender bias
C) Age bias
D) Disability bias
On May 28, 2024
B