Darren is a market research analyst at Whirlpool who has bee…
Darren is a market research analyst at Whirlpool who has been asked to analyze consumers interactions with their refrigerators. He identifies 10 distinct points where consumers are likely to come in-contact with the Whirlpool refrigerator before the final purchase. These distinct points are called
Read DetailsParent Company purchases 100 percent of Son Company on Janua…
Parent Company purchases 100 percent of Son Company on January 1, 20X1, when Parent’s retained earnings balance is $520,000 and Son’s is $150,000. During 20X1, Son reports $15,000 of net income. Parent reports $105,000 of separate operating earnings plus $15,000 of equity-method income from its 100 percent interest in Son; Parent declares dividends of $40,000. Based on the preceding information, what is Parent’s post-closing retained earnings balance on December 31, 20X1?
Read DetailsMatch Group owns many dating apps including Match.com, Tinde…
Match Group owns many dating apps including Match.com, Tinder, Hinge, and OkCupid. One of Match Group’s apps has low market share in a high-growth market. According to the BCG matrix, the app should be classified as a _________________.
Read DetailsOn January 3, 20X5, Pleat Company acquired 80 percent of Sti…
On January 3, 20X5, Pleat Company acquired 80 percent of Stitch Corporation’s common stock for $344,000 in cash. At the acquisition date, the book values and fair values of Stitch’s assets and liabilities were equal, and the fair value of the noncontrolling interest was equal to 20 percent of the total book value of Stitch. The stockholders’ equity accounts of the two companies at the acquisition date are: Pleat Stitch Common Stock ($5 par value) $ 500,000 $ 200,000 Additional Paid-In Capital 300,000 80,000 Retained Earnings 350,000 150,000 Total Stockholders’ Equity $ 1,150,000 $ 430,000 Noncontrolling interest was assigned income of $11,000 in Pleat’s consolidated income statement for 20X5. Based on the preceding information, what is the total stockholders’ equity in the consolidated balance sheet as of January 3, 20X5?
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