Under the partial equity method, the parent recognizes income when

On January 1, 2021, Bangle Company purchased 30% of the voting common stock of Sleat Corp. for $1,000,000. Any excess of cost over book value was assigned to goodwill. During 2021, Sleat paid dividends of $24,000 and reported a net loss of $140,000. What is the balance in the investment account on December 31, 2021?

An upstream sale of inventory is a sale:

When performing a clinical breast examination, you take special care to examine the upper outer quadrants and axillae because:

In a business combination where a subsidiary retains its incorporation and which is accounted for under the acquisition method, how should stock issuance costs and direct combination costs be treated?

Vaughn Inc. acquired all of the outstanding common stock of Roberts Co. on January 1, 2020, for $276,000. Annual amortization of $21,000 resulted from this acquisition. Vaughn reported net income of $80,000 in 2020 and $60,000 in 2021 and paid $24,000 in dividends each year. Roberts reported net income of $50,000 in 2020 and $57,000 in 2021 and paid $12,000 in dividends each year. What is the Investment in Roberts Co. balance on Vaughn’s books as of December 31, 2021, if the partial equity method has been applied?

In a transaction accounted for using the acquisition method where consideration transferred is less than fair value of net assets acquired, which statement is true?

McCoy has the following account balances as of December 31, 2020 before an acquisition transaction takes place.     Inventory $125,000 Land 450,000 Buildings (net) 575,000 Common stock ($10 par) 600,000 Additional paid-in capital 300,000 Retained earnings 250,000   The fair value of McCoy’s Land and Buildings are $650,000 and $600,000, respectively. On December 31, 2020, Ferguson Company issues 30,000 shares of its $10 par value ($30 fair value) common stock in exchange for all of the shares of McCoy’s common stock. Ferguson paid $12,000 for costs to issue the new shares of stock. Before the acquisition, Ferguson has $800,000 in its common stock account and $350,000 in its additional paid-in capital account.What will the consolidated common stock account be as a result of this acquisition?                         A)    $300,000.                        B)    $800,000.            C)    $1,100,000.            D)    $1,400,000.            E)    $1,700,000.

Flynn acquires 100 percent of the outstanding voting shares of Macek Company on January 1, 2021. To obtain these shares, Flynn pays $400 cash (in thousands) and issues 10,000 shares of $20 par value common stock on this date. Flynn’s stock had a fair value of $36 per share on that date. Flynn also pays $15 (in thousands) to a local investment firm for arranging the acquisition. An additional $10 (in thousands) was paid by Flynn in stock issuance costs.The book values for both Flynn and Macek immediately preceding the acquisition follow. The fair value of each of Flynn and Macek accounts is also included. In addition, Macek holds a fully amortized trademark that still retains a $40 (in thousands) value. The figures below are in thousands. Any related question also is in thousands.     Flynn, Inc   Macek Company     Book Value   Fair Value Cash $ 900     $ 80     $ 80   Receivables   480       180       160   Inventory   660       260       300   Land   300       120       130   Buildings (net)   1,200       220       280   Equipment   360       100       75   Accounts payable   480       60       60   Long-term liabilities   1,140       340       300   Common stock   1,000       80           Additional paid-in capital   200       0           Retained earnings   1,080       480             What amount will be reported for consolidated cash after the acquisition is completed?                         A)    $475,000.                        B)    $500,000.            C)    $555,000.            D)    $580,000.            E)    $875,000.           

You are going to be involved in the meningococcal immunization of students entering the University of Cincinnati. You are involved in