Additional Information
Pearl purchased 75% of the outstanding voting shares of Silver for $2,400,000 on July 1, Year 2, at which time Silver’s retained earnings were $400,000, and accumulated depreciation was $60,000. The acquisition differential on this date was allocated as follows:
• 30% to undervalued inventory
• 40% to equipment-remaining useful life 8 years
• Balance to goodwill
During Year 3, a goodwill impairment loss of $70,000 was recognized, and an impairment test conducted as at December 31, Year 6, indicated that a further loss of $20,000 had occurred. Amortization expense is grouped with cost of goods sold and impairment losses are grouped with administrative expenses. Silver owes Pearl $75,000 on December 31, Year 6.
Required:
(a) Prepare consolidated financial statements on December 31, Year 6.
(b) Calculate goodwill impairment loss and non-controlling interest on the consolidated income statement for the year ended December 31, Year 6, under parent company extension theory.
(c) Calculate goodwill and non-controlling interest on the consolidated balance sheet at December 31, Year 6, under parent company extension theory.
Instructions
(a) Prepare the journal entry to record the issuance of the bonds.
(b) Prepare the adjusting entry to record the accrual of interest on December 31, 2017.
(c) Show the balance sheet presentation on December 31, 2017.
(d) Prepare the journal entry to record payment of interest on May 1, 2018.
(e) Prepare the adjusting entry to record the accrual of interest on December 31, 2018.
(f) Assume that on January 1, 2019, Herron pays the accrual bond interest and calls the bonds. The call price is 102. Record the payment of interest and redemption of the bonds.
1. What is the difference between the type of treatment of children engaged in by Rosa and that engaged in by Lourdes and many others in the village?
2. If Rosa’s report is correct, how did her children’s behavior differ from most of the children discussed in the article who received a folk diagnosis of doenca de crianca and fraqueza?
3. Background for question 3: Scheper-Hughes argues that widely held assumptions of maternal love and mother-child bonding derive from the modern Western, bourgeois family. Scheper-Hughes further asserts that such maternal thinking was foreign to most of European history and is currently foreign to many women living in the third world. By contrast, as discussed several times in class, evolutionary theory (parental investment theory) asserts that there is strong investment in children among women.
Actual question: Do Scheper-Hughes’ observations mean that women in general (independent of cultural background) are not biologically predisposed to invest heavily in the young (as she seems to suggest)? Alternatively, can her observations be reconciled with an evolutionary perspective which indicates considerable investment in the young?
Please note that whichever side you come down on, please provide a rationale for your response.
Transition into Adulthood
The transition into adulthood may differ depending on cultural traditions and rites of passage from adolescence to adulthood. The transition into adulthood is also a time for relationships and romance from a normative perspective.
a. Laurie Young was hired by Cerner Corporation as a software engineer at a salary of $65,000, one pay grade above Cerner’s entry-level salary for new engineers. The position description for Young’s position stated that she would be responsible for writing computer code to user specifications. During her employment, however, she did not write any computer code, nor did she develop or execute her own test plans. Instead, Young tested systems and programs using a tool called Informatica that allowed her to determine if a program was pulling the correct data from a database. If she determined that it was not pulling the correct data, she would change the statements in the program to look for other data transformations offered by Informatica to resolve the problem. On one occasion, she spent a month writing modifications to a stored computer procedure that was available to other users. [Young v. Cerner Corp., 2007 WL 2463205 (W.D. Mo. 2007).]
EXHIBIT C1-9(B)
Polka Dot Enterprises
Notes the to the Financial Statements
For the Year Ended December 31, 2013
Note 1 The investment in Ranger Limited was one made during 2013 to invest excess cash on hand that Polka Dot Enterprises had. The cost at the time of the 4% purchase of Ranger Limited outstanding shares was $121,736. This was a short-term investment and when the cash is needed in 2014, it will be sold. As at December 31, 2013, the fair value of the investment was $156,212 and net income of Ranger
Limited for the year was $39,103.
Note 2 In January 2013, Polka Dot Enterprises purchased 100% of Tulip Inc., a company engaged in a similar line of business as them.
The cost of the investment was $102,911 and its fair value as at December 31, 2013 was $147,212. In addition, due to the purchase,
Polka Dot Enterprises was allowed to appoint three of the four members to the board of directors. They have also been looking for ways to achieve synergies and to utilize each other expertise. Tulip Inc. net income for the year was $120,921.
Note 3The cost of the investment in Shoes Enterprise was $156,192 and was made in January 2013 to obtain 19% ownership in Shoes
Enterprise. This was done to gain access to a supplier, as prior to this Shoes Enterprise was one of Polka Dot Enterprises1 main supplier of party goods and decorations. The fair value of the investment as at December 31, 2013, was $199,267. Net income for Shoes Enterprise as
a whole since the date of investment was $137,934.
Note 4 During the year, in order to expand their business into Montreal, Quebec, Polka Dot Enterprises entered into business with another entity, Marie Inc. They in turn created a new entity, Rose Limited. Each company contributed assets worth $133,901 to the new entity and they will share equally in the profits of Rose Limited. As at December 31, 2013, the fair value of Polka Dot Enterprise investment was $176,924. Both Polka Dot Enterprises and Marie Inc. will be running Rose Limited on a day-to-day basis and no major decisions concerning the entity can be made without the consent of the other. Net income since the creation of Rose Limited was $201,692.
Note 5 Investment income consists of the following:
Dividend income from Ranger Limited: $71,212
Dividend income from Tulip Inc.: $48,467
Dividend income from Shoes Enterprise: $24,921
Dividend income from Rose Limited: $34,539
Important note: Discussion questions in this course use a case study that is found in Doc Sharing area in the file named “Project Management Case.docx.” It is strongly recommended that you read this case study before attempting an assignment. Also, it is mandatory that you to attempt all assignment questions in the order they are presented in.
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Discussion Question
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Reflect on the different tasks and roles you learned about in this course. Identify at least (two) 2 skills you would need to be a project manager and discuss what you can do to develop those skills. Lastly, identify and discuss at least one (1) other career you think you would be interested in related to project management.
NO COPY AND PASTE ANSWERS AND SOURCES MUST BE CITED
Investments Worksheet
Answer the following questions in at least 50 words each:
· What are the main differences between a 401K and a Roth IRA?
· How would you explain the difference between a stock, a bond, and a mutual fund?
· What are the risks and rewards of investing?
· How can you minimize the risks associated with investing?
· What would affect your decision to invest?
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