On January 1, 20X6, Penn acquired all of Senn’s voting shares for $250,000 cash. On December 31, 20X6, Senn owed Penn $5,000 for services provided during the year. When consolidated financial statements are prepared for 20X6, which entry is needed to eliminate inter-company receivables and payables in the consolidation worksheet? Option A Accounts and explanation Debit Credit Accounts payable 5,000      Accounts receivable 5,000   Option B Accounts and explanation Debit Credit Accounts receivable 5,000      Accounts payable 5,000   Option C Accounts and explanation Debit Credit Retained earnings 5,000      Accounts receivable 5,000   Option D          consolidating entry not required         

Based on the given information, what is the amount in Cell 5 (NCI in net income)? Note: Questions left blank will be marked incorrect. If no entry would appear, enter a 0.

Which royal family’s rise to power, which ended the Wars of the Roses, is chronicled at the conclusion of Shakespeare’s series of historical plays?

Senn reported 20X5 net income of $40,000 and paid dividends of $12,000 during the year. Penn acquired 30% of Senn’s shares on January 1, 20X5, for $110,000. On December 31, 20X5, Penn determined the fair value of Senn’s shares to be $125,000. Penn reported operating income of $80,000 for 20X5. Compute Penn’s net income for 20X5, assuming that it carries the investment in Senn at fair value [NIFair] and uses the equity method of accounting for its investment in Senn [NIEquity]. This is a two-part question. Be sure to answer both parts, a and b. When entering your answers, round the answers to the nearest dollar, enter the answers as numbers with no decimal places and no dollar ($) signs, and enter the numbers with or without the comma separator (e.g., either 28,374 or 28374).  For partial credit, please do the following: After stating your answers, use the partial-credit question that follows to show how you arrived at them (e.g., 13,000 [= 7,000 from ” ” + 6,000 from ” “]). Include any explanations or logic you used to arrive at your answers.

Information for Questions 20 to 22 On January 1, 20X6, Penn acquired 70% of Senn’s common stock for $210,000 cash. The fair value of the non-controlling interest on that date was determined to be $90,000. Data from the balance sheets of the two companies included the following amounts as of the date of acquisition: Balance Sheet Assets Accounts and explanation Penn Senn Cash $   50,000 $   15,000 Accounts receivable 70,000 25,000 Inventory 30,000 20,000 Land 150,000 80,000 Buildings and equipment 250,000 200,000 Less: accumulated depreciation (70,000) (20,000) Investment in Spice Co.    210,000                    Total Assets $ 690,000 $  320,000   Balance Sheet Liabilities and Equity Accounts and explanation Penn Senn Accounts payable $   40,000 $   10,000 Bonds payable 150,000 40,000 Common stock 300,000 90,000 Retained earnings    200,000    180,000 Total liabilities and equity $ 690,000 $ 320,000   On the date of the business combination, the book values of Senn’s assets and liabilities approximated fair value except for inventory, which had a fair value of $35,000, and land, which had a fair value of $85,000. When entering your answers,  round the answers to the nearest dollar, enter the answers as numbers with no decimal places and no dollar ($) signs, and enter the numbers with or without the comma separator (e.g., either 28,374 or 28374).  For partial credit, do the following: After stating your answers, show how you arrived at them (e.g., 13,000 [= 7,000 from ” ” + 6,000 from ” “]). Include any explanations or logic you used to arrive at your answers.

Part 1: Information for Questions 28 to 39 On January 1, 2024, Penn acquired 80% of Senn’s ownership for $120,000 cash. On that date, the fair value of the non-controlling interest was $30,000. The book value of Senn’s net assets was $125,000. The book values and fair values of Senn’s assets and liabilities were equal, except for buildings and equipment, which were $15,000 more than book value. Buildings and equipment are depreciated on a 10-year basis. Although goodwill is not amortized, Penn’s management concluded on December 31, 2024, that goodwill from its acquisition of Senn shares had been impaired and that the correct carrying amount was $5,000. During 2024, Senn reported net income of $23,000 and paid cash dividends totaling $10,000.   Basic Book Value Consolidation Calculation Accounts and explanation NCI (20%) Penn (80%) = Common stock + Retained earnings Total Beginning 25,000 100,000 100,000 25,000 125,000 Net income 4,600 18,400 23,000 Dividend   (2,000)   (8,000)                  (10,000) Total  27,600 110,400  100,000    38,000   Excess Value Calculation Accounts and explanation NCI (20%) Penn (80%) = Building & equipment + Accumulated depreciation + Goodwill Beginning balances 5,000 20,000 15,000 0 10,000 Change (1,300) (5,200) (1,500) (5,000) Ending balances 3,700 14,800 15,000 (1,500) 5,000  

In their discussion on reproductive justice, Rothenberg authors Ross and Solinger argue primary values of reproductive justice include (1) the right to parent children in safe and healthy environments, (2) the right not to have a child,  and (3) the right to ___________.

A 20 year old patient comes to the clinic with acute otitis externa (swimmer’s ear).  Answer the following questions: 1. What is the most common pathogen? 2. What class of medication provides coverage against both pathogens? 3. Why is that class preferred? 4. What other treatment may you provide? 5. What patient education is necessary?

A Gillette commercial shown in class (that begins with the theme “Boys will be boys”) was used as an illustration of the controversial concept of __________ masculinity. 

What was the name of the prominent London acting company, co-owned by William Shakespeare, that performed at the Globe Theatre and later became the King’s Men?