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aalyn [17]
2 years ago
12

On January 1, 20X9, Pitcher Corporation purchased 100 percent of Softball's stock. All tangible assets had a remaining economic

life of 10 years at January 1, 20X9. Both companies use the FIFO inventory method. Softball reported net income of $17,000 in 20X9 and paid dividends of $4,700. Pitcher uses the equity method in accounting for its investment in Softball.
Business
1 answer:
mina [271]2 years ago
5 0

Answer:

The question is not complete,find attached complete question in word document.

Find all the journal entries in the attached spreadsheet

Explanation:

Please note the following points:

The goodwill is the excess of purchase consideration of $ 476,500.00  over the net assets of Softball acquired,that is $ 318,000.00  

The net assets is total assets acquired of $374,000 minus the liabilities taken over of $56000

Equity method income is the difference between Softball's net income reported and the dividends paid

Download docx
<span class="sg-text sg-text--link sg-text--bold sg-text--link-disabled sg-text--blue-dark"> docx </span>
<span class="sg-text sg-text--link sg-text--bold sg-text--link-disabled sg-text--blue-dark"> xlsx </span>
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Dermody Snow Removal's cost formula for its vehicle operating cost is $3,010 per month plus $331 per snow-day. For the month of
bogdanovich [222]

Answer:

$390F

Explanation:

The Dermody variance for vehicle operating cost can be determined using the below mentioned formula:

Dermody vehicle operating cost variance=Planned vehicle operating cost- Actual vehicle operating cost

In the given question

Planned vehicle operating cost=$3,010+$331*15

                                                    =$7,975

Actual vehicle operating cost=$7,585

Dermody vehicle operating cost variance=$7,975-$7,585

                                                                     =$390F

6 0
2 years ago
Read 2 more answers
In an attempt to alter consumers' cognitive component of their attitude toward the Pepsi brand of cola, a freshness date was add
jenyasd209 [6]

Answer: ADD BELIEF STRATEGY

Explanation:In the given case Pepsi used the add beliefs strategy to change the mindset of the customers in the market. The add belief strategy in marketing is focused on increasing the confidence of the customer in the product.

By adding the freshness date on the cans, Pepsi was sending a message that they care for the health of the customers, thus, winning their confidence.

3 0
2 years ago
A union election was held by the NLRB at Jaxon Industries, and 130 workers cast votes in the election. How many votes in favor o
zimovet [89]

Answer:

66

Explanation:

When union workers vote to elect their representatives, the representative must be elected by a simple majority of the votes. A simple majority means 50% plus 1. In this case 50% of 130 votes = 65 votes plus 1 = 66 votes.

Exclusive representation is a legal status that allows the elected representative the legal right to represent the union workers in different situations, e.g. collective bargaining

7 0
2 years ago
How did innovations in marketing and sales encourage conspicuous consumerism in the united states?
adoni [48]
Marketing and sales innovations make use of advertising to create awareness about products. Advertising is a kind of communication which typically persuade people to buy an idea, product or service. Advertisers usually intentionally create messages to convince the consumers that they need the product that is been advertised. Along with advertising, companies also provide innovative means by which consumers can engage in wide scale shopping. All these encourages consumers to acquire goods and to increase their consumption of diverse products; this leads to conspicuous consumerism in America.
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2 years ago
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The following information is available for the first year of operations of Creston Inc., a manufacturer of fabricating equipment
Nadusha1986 [10]

<u>Answer:</u>

a.$7,175,000

b.$3,655,000

c.$2,825,000

<u>Explanation:</u>

a.Calculation of Cost of Goods Sold

COGS= Sales - Gross profit

=12375000-5200000

=$7,175,000

Cost of Goods Sold for Creston Inc is $7,175,000

b. Calculation of direct materials cost

Direct Material Cost = Materials purchased - Indirect materials - Materials inventory

=4125000-180000-290000

=$3,655,000

Direct materials cost is $3,655,000

c. Calculation of direct labor cost

Direct labor cost= Total manufacturing costs for the period - Direct materials - factory overhead (Indirect labor + Indirect materials + Other factory overhead)

=7880000-3655000-1400000

=$2825000

Direct labor cost is $2,825,000

5 0
2 years ago
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