Organize the living things listed below into one of the foll…
Organize the living things listed below into one of the following 3 categories: animal, plant, or fungus. There are 9 options available, but it is possible that not all of them can be placed within one of the categories. To organize the terms, you can do one of the following: Click the region below the category heading and select a term from a drop menu Click a term in the term bank located below the categories and then select a category from a drop menu Use your mouse to drag a term from the term bank into the region below the desired category’s name
Read DetailsArrange the 8 taxonomic classifications below from least spe…
Arrange the 8 taxonomic classifications below from least specific (top) to most specific (bottom). To rearrange the options, either drag-and-drop the option to the appropriate location or repeatedly use the option’s grab bar drop menu to shift options up or down one slot until they are in the right order.
Read DetailsOn January 1, 2025, Jackie Corporation purchased 30% of the…
On January 1, 2025, Jackie Corporation purchased 30% of the voting common stock of Rob Company, paying $2,000,000. Jackie properly accounts for this investment using the equity method. At the time of the investment, Rob’s total stockholders’ equity was $3,000,000. Jackie gathered the following information about Rob’s assets and liabilities whose book values and fair values differed: Book ValueFair Value Buildings (15-year life)$ 1,000,000$ 1,500,000 Equipment (5-year life)2,500,0003,000,000 Franchises (10-year life)$ 0$ 500,000 Any excess of cost over fair value was attributed to goodwill, which has not been impaired. Rob reported net income of $300,000 for 2025 and paid dividends of $100,000 during that year.What is the amount of the excess of purchase price over book value?
Read DetailsOn January 1, 2024, Archer, Incorporated, paid $100,000 for…
On January 1, 2024, Archer, Incorporated, paid $100,000 for a 30% interest in Harley Corporation. This investee had assets with a book value of $550,000 and liabilities of $300,000. A patent (related to the entire ownership in the company) held by Harley, having a book value of $10,000, was actually worth $40,000 with a six-year remaining life. Any goodwill associated with this acquisition is considered to have an indefinite life. During 2023, Harley reported net income of $50,000 and paid dividends of $20,000. Assume Archer has the ability to significantly influence the operations of Harley.The equity in income (net amount) of Harley for 2024, is
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