Answer:
a) $101354
Explanation:
To calculate the future balance of the interest-earning account use following formula
FV = PV x ( 1 + r )^n
Where
FV = Future value = Balance of Interest-earning account after 3 years = ?
PV = present value = Amounr deposited in the account = $90,000
r = Periodic interest rate = 4% x 6/12 = 2%
n = Numbers of periods = Numbers of years x Compounding periods per year = 3 years x 2 periods per year = 6 periods
Placing values in the formula
FV = $90,000 x ( 1 + 2% )^6
FV = $101,354
Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hours and its standard cost card per unit is as follows:
1. What is the materials quantity variance for March?
2. If Preble had purchased 171,000 pounds of materials at $7.20 per pound and used 155,000 pounds in production, what would be the materials quantity variance for March?
3. What is the labor rate variance for March?
4. What is the labor efficiency variance for March?
5. What is the labor spending variance for March?
Labor efficiency variance = (Actual hour * Standard rate) - (Standard hour * Standard rate).
Labor efficiency variance = $404,600 F
What is Labor efficiency variance?By "efficiency of labor," we mean a worker's ability to produce more or better work, or both, over the course of a given amount of time.
1) Labor efficiency variance = (68,000 * $17) - ((30,600 * 3) * $17)
Labor efficiency variance = $1,156,000 - (91,800 * $17)
Labor efficiency variance = $404,600 F
2) Variance in direct labor worked divided by variance in labor efficiency
Variance in labor costs is $404,600 - $68,000.
Variance in labor costs = $336,600 F
3) Planned unit sold minus variable overhead equals variable manufacturing overhead cost.
Manufacturing variable overhead cost = 24,000 * $21
$504,000 is the variable manufacturing overhead cost.
4) Planned unit sold minus variable overhead equals variable manufacturing overhead cost.
Cost of variable overhead in production = 30,600 * $21
$642,600 is the variable manufacturing overhead cost.
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four aspects of induction
What is the purpose of every item in the SHARKS mnemonic?
The purpose of every item in the SHARKS mnemonic is:
S – state the agenda before you start your meeting;
H – hijackers will be at your meeting, so watch out;
A - adding relevant information is the key to a good meeting;
R – repeat the agenda at the end of the meeting;
K - keep the meeting small and short;
S - scheduling should be outside the meeting.
What is the significance of a mnemonic?A mnemonic can be referred to or considered as a tool of the English language wherein the initial letters of a concept are used to easily memorize the concept effectively.
In the given condition above, the mnemonic of SHARK is used as an effective memory tool for memorizing the purpose behind each initial in a meeting of intelligence department.
Therefore, the significance regarding mnemonic is aforementioned.
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What is the collection of direct, non-advertising messages a company presents to the public about itself, its brand, and its products? A. Sales promotions B. Market research C. Direct marketing D. Public relations Please select the best answer from the choices provided A B C D
Answer:
Is a D. Public relations
Which of the following are examples of variable
costs? (Select three answers.)
A radio ad
Hourly employees
The yarn used to make a scarf
Rent of an office space
The shampoo used to groom pets
Internet service
Answer:
Explanation:
Hourly employees
The shampoo used to groom pets
The yarn used to make a scarf
Reputable credit counseling companies are almost always financed by which of the following? A. Bernie Madoff B. A large bank with many shareholders C. Third Party D. The United Nations
Reputable credit counseling companies are almost always financed by Third Party. Option C is the answer
What do Credit counseling companies do?Credit counselors provide individual with counsel especially people who wants to borrow money and how it can be effectively managed.
They provide services to consumers on how they can have effective Budget.
Third Party such as institutions, cooperative society, NGO have credit counselling companies.
Therefore, Reputable credit counseling companies are almost always financed by Third Party
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Search the Internet and locate a job that you would consider applying for.
Construct a Cover Letter for this actual job.
Upload your professional cover letter
A Cover Letter for this actual job.
[Your Name]
[Your Address]
[City, State, ZIP Code]
[Email Address]
[Phone Number]
[Today's Date]
[Recipient's Name]
[Company Name]
[Company Address]
[City, State, ZIP Code]
Dear [Recipient's Name],
I am writing to express my keen interest in the [Job Title] position at [Company Name], as advertised on [Job Board/Company Website]. With my strong background in [Relevant Skills/Experience], I am confident in my ability to contribute to the success of your organization.
Having [X years] of experience in [Industry/Field], I have honed my skills in [Key Skills/Expertise], which I believe align perfectly with the requirements of the [Job Title] role. I am particularly drawn to [Company Name]'s commitment to [Specific Company Values/Initiatives] and its reputation for excellence in [Industry/Field].
Throughout my career, I have demonstrated a strong track record in [Relevant Achievements/Projects], showcasing my ability to [Specific Skills/Results]. I am highly skilled in [Technical Skills/Software], and I possess excellent [Soft Skills/Abilities], allowing me to collaborate effectively with cross-functional teams and deliver outstanding results.
I am excited about the opportunity to contribute to [Company Name]'s ongoing success and would welcome the chance to discuss further how my skills and experience align with your organization's goals. Enclosed is my resume for your review.
Thank you for considering my application. I look forward to the possibility of meeting with you to discuss how my qualifications make me a strong fit for the [Job Title] position at [Company Name].
Sincerely,
[Your Name]
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3. What are some government provided goods or services that you have benefited from but that you or your family have not directly paid for?
Some government provided goods or services that you have benefited includes: Public education, Public libraries, and Parks and recreational facilities
Examples of government provided goodsPublic education: Public schools are funded by taxpayers and provide free education to students. Many individuals benefit from this service without paying directly for it.
Public libraries: Libraries provide free access to books, internet, and other resources. They are often funded by local or state governments, and individuals can use their services for free.
Parks and recreational facilities: Public parks and recreational facilities are often funded by local governments and provide free or low-cost access to outdoor spaces, playgrounds, and sports facilities.
Emergency services: Police, fire, and ambulance services are often funded by taxpayers and provide critical services in times of emergency.
Public transportation: Public transportation systems, such as buses and subways, are often subsidized by government funds and provide affordable transportation options for individuals who cannot afford or do not own private vehicles.
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Define the term ‘consumer behaviour’ and describe the consumer buying process
Answer:
Consumer purchasing behavior describes the steps that customers take before making a purchase of a good or service, both online and offline. Search engine research, participation in social media discussions, and a range of other activities might be part of this process.
Explanation:
When entering the provider's Social Security number (SSN) or employer identification number (EIN) in CMS-1500 Block 25, a
a. hyphen is not entered.
b. hyphen is entered.
c. space is entered instead of a hyphen.
d. space or hyphen is entered.
Answer:
When entering the provider's Social Security number (SSN) or employer identification number (EIN) in CMS-1500 Block 25, a
Answer:
hyphen is not entered
Explanation:
Usually a CMS-1500 Block 25 looks like a bunch of digits
for example
999927999We can't use hyphen inbetween
So option A
The amounts of the assets and liabilities of Wilderness Travel Service at April 30, 20Y5, the end of the year, and its revenue and expenses for the year are listed below. The capital of Harper Borg, owner, was $62,570 at May 1, 20Y4, the beginning of the year, and the owner withdrew $33,800 during the year.
Accounts payable $18,970
Accounts receivable 101,580
Cash 205,040
Fees earned 712,700
Miscellaneous expense 5,540
Rent expense 92,300
Supplies 8,830
Supplies expense 14,770
Taxes expense 10,000
Utilities expense 55,380
Wages expense 263,700
Required:
Prepare an income statement for the year ended April 30, 20Y5.
The income statement for the year ended April 30, 20Y5 is $271,010.
Income statement:Wilderness Travel Service income statement for the year ended April 30, 20Y5
Revenue:
Fees earned $712,700
Expenses:
Miscellaneous expense $5,540
Utilities expense $55,380
Supplies expense $14,770
Rent expense $92,300
Taxes expense $10,000
Wages expense $263,700
Total expenses $441,690
Net income $271,010
($712,700-$441,690)
Inconclusion the income statement for the year ended April 30, 20Y5 is $271,010.
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In the idea screening stage, companies assess new offerings by determining _________.
Group of answer choices
if the product cost more during idea generation than expected
if the product fits with the image and corporate strategy
the product’s features
the product’s specifications
if the product works as it is supposed to
Answer:
c
Explanation:
True or False The summer vpk programs are 300 program hours and require one teacher for every ten children
The correct answer is True, although the program is usually between 200-300 instructional hours
See explanation below
What are the summer vpk programs?Simply put, the summer vpk programs can be defined as a preparatory program usually between 200-300 instructional hours aimed at preparing children for Kindergarten school.
It should be noted that the summer vpk program is a voluntary service
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Identify the South African barriers to entry market share
Barriers to entry in South Africa include:
High startup costsLimited access to financingWhat are some barriers to entry ?Some industries in South Africa entail expensive start-up costs like procurement of equipment, infrastructure development or acquiring licenses which can be limiting for new entrants.
Several startups may encounter challenges in obtaining financial aid due to limited capital availability or stringent borrowing rules as well as exorbitant interest charges. The regulatory framework within the country is multifaceted and applies robust controls across a multitude of sectors that may be restrictive for businesses trying to establish themselves.
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You are at the checkout counter at the local supermarket, use your debit card to pay for your groceries, and select "debit" when the cashier asks "Debit or credit?" Where does the money for this purchase come from?
Answer:
the Money comes from my savings account (Bank account)
Explanation:
the debit means that the money that we use is ours.
the credit means that the money is lent to us by the bank which we have gotten the card from. Choosing debit means that the money being spent comes from our own bank account.
I need help!!! offering (25 points)
Legal capacity can be defined as the key principle that would help to ensure that the people that are entering this contract have the authority to enter it.
What is a contract?This is the term that is sued to refer to the legal agreement that two people would have to enter as they agree to do business with themselves. This is an enforceable document and it is legal in the court of law. Especially in the case where a breach may occur by the [persons that have entered into the contract.
The legal capacity is the term that is used to refer to the fact that the people that are entering this contract understands what it entails and all that concerns it.
The legal capacity tells us that the parties in the contract are legally competent and they are able to understand the contract that they are to sign as they do so .
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If a minimum wage increase helps some people but harms other’s people, is it a good policy?
If a minimum wage increase helps some people but harms others, it is still a good policy. A minimum wage increase would be a good policy because it benefits those who are struggling to make ends meet and could use a little extra income to pay for essentials such as rent, food, and utilities.
Additionally, when low-wage workers earn more money, they have more money to spend, which stimulates the economy. Workers earning minimum wage are more likely to spend the additional money they earn, resulting in increased consumer spending. This, in turn, can lead to increased business activity and job creation. Higher wages also help to reduce poverty and improve social mobility, which has a positive effect on society as a whole.
However, it is essential to recognize that a minimum wage increase could cause harm to some people and businesses. Companies may need to reduce their workforce to cut costs, and some employees may lose their jobs as a result. Furthermore, if the price of goods and services increases due to higher wages, some consumers may be priced out of the market, resulting in reduced sales and profits for businesses.
Nevertheless, the benefits of a minimum wage increase outweigh the drawbacks. A minimum wage increase is a necessary step in ensuring that low-wage workers are paid a living wage and that our economy is stimulated.
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Oscanda Accessories Corporation manufactured 21,400 travel bags during March. The following fixed overhead data pertain to March: Actual Static Budget Production 21,400 units 22,000 units Machine-hours 3,400 hours 4,400 hours Fixed overhead cost for March $176,300 $184,800 What is the amount of fixed overhead spending variance
Answer:
$8,500 favorable
Explanation:
The computation of the fixed overhead spending variance is shown below
= Budgeted fixed overhead - actual fixed overhead
= $184,800 - $176,300
= $8,500 favorable
We simply deduct the actual fixed overhead from the budgeted one so that the fixed overhead spending variance could come
Illustrate how according to you the nature of business is
changing in today's time in a paragraph.
Wolfgang Kitchens has always used the FIFO inventory costing method for both financial reporting and tax purposes. At the beginning of 2024, Wolfgang decided to change to the LIFO method. Net income in 2024 was correctly stated as $90 million. If the company had used LIFO in 2023, its cost of goods sold would have been higher by $7 million that year. Company accountants are able to determine that the cumulative net income for all years prior to 2023 would have been lower by $23 million if LIFO had been used all along, but have insufficient information to determine specific effects of using LIFO in 2022. Last year, Wolfgang reported the following net income amounts in its comparative income statements:
If Wolfgang Kitchens has always used the FIFO inventory costing method for both financial reporting and tax purposes. the journal entry at the beginning of 2024to record the change in accounting principle is: Debit, Retained earnings $30 million, Credit Inventory $30 million.
How to prepare the journal entry?If cost of goods sold increase by $7 million that year in which the cumulative net income for all years have been lower by the amount of $23 million , The appropriate journal entry to record the transaction is :
Wolfgang Kitchens Journal entry
Debit Retained earnings $30 million
Credit Inventory $30 million
($23 million + $7 million)
( To record the change in accounting principle)
Therefore the journal entry is Debit Retained earnings $30 million, Credit Inventory $30 million.
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The complete question is:
Wolfgang Kitchens has always used the FIFO inventory costing method for both financial reporting and tax purposes. At the beginning of 2024, Wolfgang decided to change to the LIFO method. Net income in 2024 was correctly stated as $90 million. If the company had used LIFO in 2023, its cost of goods sold would have been higher by $7 million that year. Company accountants are able to determine that the cumulative net income for all years prior to 2023 would have been lower by $23 million if LIFO had been used all along, but have insufficient information to determine specific effects of using LIFO in 2022. Last year, Wolfgang reported the following net income amounts in its comparative income statements:
($ in millions) 2021 2022 2023
Net income $90 $92 $94
Prepare the journal entry at the beginning of 2024to record the change in accounting principle. (Ignore income taxes.)
Changes in the market environment impact _____
how competitive the marketplace is
how many offerings are available
how many marketing communication channels are used
how consumers behave
Changes in the market environment impact how competitive the marketplace is, how many offerings are available, how many marketing communication channels are used, and how consumers behave.
Aspects of the business landscape are significantly impacted by changes in the market environment. First and foremost, they have an impact on the level of market competition because changes in variables like technology, rules, and consumer preferences can affect how businesses compete with one another.
Changes in the market environment can also have an impact on the variety and range of goods and services that are offered to customers. New technologies and trends have an impact on how businesses communicate with their target audiences through marketing channels. Last but not least changes in the market environment such as those in the economy in social trends and in technological advancements have a significant impact on consumer behavior causing changes in buying patterns and preferences.
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What are the two BEST ways to pay for college? Why?
Answer:
searching for scholarships or choosing an adorable school
A firm’s accounting profit is equal to
The total revenue less all explicit costs, including depreciation, is the accounting profit. Economic profit is calculated by deducting entire costs from the total revenue or return of a business or investment.
What is accounting?
Accounting is the organized, consistent recording, reporting, and comprehension of a business's financial activity.
Subtracting explicit costs from total revenues yields accounting profit. Total revenues minus both explicit and implicit costs equals economic profit.
Explicit costs are expenses incurred directly by a company, such as payments for goods, rent, or labor and salaries. Accounting profit exceeds economic profit, assuming that implicit costs are positive.
As a result, a firm’s accounting profit is equal to total revenue minus explicit costs.
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Who would you consider society's stakeholders.
Society's stakeholders encompass diverse individuals, groups and entities who have a vested interest in the well-being, progress and outcomes of a community.
The stakeholders include citizens as the foundation of any society with their collective aspirations and needs shaping the social fabric. Government plays a crucial role as elected representatives responsible for enacting laws and policies for the greater good.
Businesses drive economic growth provide jobs and produce goods and services that meet societal demands. Non-profit organizations address social, environmental and humanitarian issues, striving to create positive change.
Academia advances knowledge, critical thinking and innovation for societal progress. The environment with its ecosystems and biodiversity represents a fundamental stakeholder is essential for sustainability and human well-being.
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While driving home for the holidays, you can’t seem to get Little’s Law out of your mind. You note that your average speed of travel is about 60 miles per hour. Moreover, the traffic report from a radio station states that there is an average of 24 cars going in your direction on a one-quarter mile part of the highway. What is the flow rate of the highway (going in your direction) in cars per hour?
Answer:
dont know sorrrrrrrryrrrrrrrrr
Earlier this week, Trump called off a secret meeting at Camp David with Taliban and
Afghan government leaders and declared the peace talks "dead." As the September
11 anniversary began in Afghanistan, a rocket exploded at the U.S. Embassy just
after midnight. No injuries were reported.
They both describe the events that occurred on September 11, 2001, and who
was responsible for them.
They both describe the extra security measures that were taken at airports after
September 11, 2001.
They both highlight some of the problems that survivors and victims of the 9/11
attacks still face today.
They both highlight the continued conflict between the U.S. and Afghanistan
since the 9/11 attacks
Answer:
NEW YORK (AP) — People who were too young on 9/11 to even remember their lost loved ones, and others for whom the grief is still raw, paid tribute with wreath-layings and the solemn roll call of the dead Wednesday as America marked the 18th anniversary of the worst terror attack on U.S. soil.
“Eighteen years. We will not forget. We cannot forget,” Bud Salter, who lost his sister, Catherine, said at ground zero.
President Donald Trump laid a wreath at the Pentagon, telling victims’ relatives: “This is your anniversary of personal and permanent loss.”
“It’s the day that has replayed in your memory a thousand times over. The last kiss. The last phone call. The last time hearing those precious words, ‘I love you,’” the president said.
Later, former President George W. Bush, who was in office on 9/11, and then-Defense Secretary Donald Rumsfeld attended another wreath-laying at the Pentagon.
Near Shanksville, Pennsylvania, the third site where planes crashed on Sept. 11, 2001, Vice President Mike Pence credited the crew and passengers who fought back against the hijackers with protecting him and others in the U.S. Capitol that day.
“I will always believe that I and many others in our nation’s capital were able to go home that day and hug our families because of the courage and selflessness of your families,” said Pence, who was an Indiana congressman at the time. Officials concluded the attackers had been aiming the plane toward Washington.
Nearly 3,000 people were killed when terrorist-piloted planes slammed into the World Trade Center, the Pentagon and the field in Pennsylvania.
After reading part of the long list of names, Parboti Parbhu choked up as she spoke from the ground zero podium about her slain sister, Hardai. Even after nearly two decades, “there’s no easy way to say goodbye,” she said.
By now, the heritage of grief has been handed down to a new generation, including children and young adults who knew their lost relatives barely or not at all.
Jacob Campbell was 10 months old when his mother, Jill Maurer-Campbell, died on 9/11.
“It’s interesting growing up in a generation that doesn’t really remember it. I feel a connection that no one I go to school with can really understand,” Campbell, a University of Michigan sophomore, said as he attended the ceremony.
Like the families, the nation is still grappling with the aftermath of Sept. 11. The effects are visible from airport security checkpoints to Afghanistan, where the post-9/11 U.S. invasion has become America’s longest war. The aim was to dislodge Afghanistan’s then-ruling Taliban for harboring al-Qaida leader and Sept. 11 mastermind Osama bin Laden.
Earlier this week, Trump called off a secret meeting at Camp David with Taliban and Afghan government leaders and declared the peace talks “dead.” As the Sept. 11 anniversary began in Afghanistan, a rocket exploded at the U.S. Embassy just after midnight, with no injuries reported.
Al-Qaida’s current leader used the anniversary to call for more attacks on the U.S. and other targets.
In New York, Nicholas Haros Jr., who lost his mother, Frances, reminded the audience of the al-Qaida attackers and tore into Democratic Rep. Ilhan Omar of Minnesota over her recent “Some people did something” reference to 9/11.
“Our constitutional freedoms were attacked, and our nation’s founding on Judeo-Christian values was attacked. That’s what ‘some people’ did. Got that now?” he said to applause.
Omar, one of the first Muslim women elected to Congress, has said she didn’t intend to minimize what happened on Sept. 11, and accused critics of taking her words out of context. She tweeted Wednesday that “September 11th was an attack on all of us.”
The dead included Muslims, as Zaheda Rahman underscored after reading names at ground zero. She called her uncle, Abul Chowdhury, a “proud Muslim-American man who lived his life with a carefree nature, a zeal for adventure and a tenacity which I emulate every single day.”
Others made a point of spotlighting the suffering of firefighters, police and others who died or fell ill after being exposed to the smoke and dust at ground zero.
A compensation fund for people with potentially Sept. 11-related health problems has paid out more than $5.5 billion so far. More than 51,000 people have applied. Over the summer, Congress made sure the fund won’t run dry . The sick also gained new recognition this year at the World Trade Center site, where a memorial glade was dedicated this spring.
___
ABC Limited entered into a contract with XYZ (Pty) Ltd for the supply of electricity to the plant of XYZ situated in Walvis Bay Namibia. The contract will come into effect on the 01 June 2020 for a period of 3 years. ABC Limited is expected per the contract to provide the electrical transformer to XYZ, as well as two electrical engineers will be sourced out to XYZ for the maintenance of the electricity supply to XYZ’s plant. ABC Limited usually sells transformers at the price of NAD 1,500,000.00; however, they will be providing the transformer to XYZ Limited free as part of the contract. ABC Limited only source out their engineers to their clients that have entered into the electricity supply contract with them. The contract stipulated the prices to XYZ as below: Monthly electricity cost NAD 175,000.00 Engineers support monthly cost NAD 120,000 XYZ may use electricity to no limit. The monthly electricity cost is at a fixed monthly rate. The appropriate nominal interest rate applicable to the internet service provision contracts is 10% per annum, compounded monthly. It remains fixed for the full period of the contract.
REQUIRED
a) Provide the journal entries to account for the contract with XYZ (Pty) Ltd in the records of ABC Limited for the year ended 31 December 2020. Journal entries are to be provided on each relevant date (do not accumulate amounts for the year).
Answer:
HOPE IT'S HELP YOU
Explanation:
I'M SORRY IF THE PICTURE IS SO BLURRY.
this sql query can be used to identify the percentage of contributions from prospects compared to total donors:
It is a true statement that section of a SQL query that will calculate the percentage of contributions from prospects is (Total_prospects / Total_donors * 100) AS Prospects_Percent.
What is brief account on SQL?For handling data stored in a relational database management system, the computer language known as Structured Query Language was developed. When dealing with structured data, which includes relationships between entities and variables, it is especially helpful.
Over read-write APIs like ISAM or VSAM, the SQL has two key advantages, which are proposed the concept of performing multiple records' access with a single command and it does away with the necessity to indicate whether or not an index is
Full question "SQL query can be used to identify the percentage of contributions from prospects compared to total donors: SELECT event_contributions, Total_donors, Total_prospects, (Total_prospects / Total_donors * 100) AS Prospects_Percent FROM contributions_data. True/ False"
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At what stage in the data analytics project for revenue analysis would you evaluate data visualization and business intelligence requirements
Data analytics is very vital in revenue analysis. The stage in the data analytics project for revenue analysis would you evaluate data visualization and business intelligence requirements is;
After gathering requirements and considering other factors.Why is data visualization necessary in data analysis?Data visualization is very important as it helps one to have a good idea of what the information is all about by helping us see the visual context through maps or graphs.
Conclusively, It helps makes the data more natural for our human comprehension and then it makes it more okay to identify trends, patterns etc. in any large data sets.
See full question below
At what stage in the data analytics project for revenue analysis would you evaluate data visualization and business intelligence requirements?
At the very beginning of the revenue analysis project.
After reviewing historical revenue analysis but before framing the revenue analysis questions.
After evaluating organizational capabilities and gaps but before considering other factors.
After gathering requirements and considering other factors.
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The following book and fair values were available for Westmont Company as of March 1.
Book Value Fair Value
Inventory $ 231,000 $191,750
Land 822,000 1,119,750
Buildings 2,130,000 2,447,250
Customer relationships 0 867,750
Accounts payable(104,000) (104,000)
Common stock (2,000,000)
Additional paid-in capital (500,000 )
Retained earnings 1/1 (417,500)
Revenues (464,500)
Expenses 303,000
Note: Parentheses indicate a credit balance.
Arturo Company pays $3,780,000 cash and issues 28,700 shares of its $2 par value common stock (fair value of $50 per share) for all of Westmont%u2019s common stock in a merger, after which Westmont will cease to exist as a separate entity. Stock issue costs amount to $32,800 and Arturo pays $47,500 for legal fees to complete the transaction.
Prepare Arturo%u2019s journal entry to record its acquisition of Westmont.
Answer:
1. Debit Inventory for $191,750; Debit Land for $119,750; Debit Buildings for $2,447,250; Debit Customer Relationships for $867,750; and Debit Goodwill for $1,692,500. But Credit Accounts payable for $104,000; Credit Common Stock (28,700 shares * $2) for $57,400; Credit Additional Paid-In Capital [28,700 shares * ($50-$2)] for $1,377,600; and Credit Cash for 3,780,000.
2. Debit Professional Services Expense for $47,500; and Credit Cash for $47,500.
3. Debi Additional Paid-In Capital for $32,800; and Credit Cash for 32,800.
Explanation:
Note: The data in this question are merged together. They are therefore sorted before answering the question. Please, see the attached pdf file for the represented question with the sorted data.
Also note: See the attached excel file to see how the prepared Arturo’s journal entry look like.
Note that the Goodwill is calculated as follows:
Goodwill = Inventory + Land + Buildings + Customer Relationships - Accounts payable - Common Stock (28,700 shares * $2) - Additional Paid-In Capital [28,700 shares * ($50-$2)] - Cash = $191,750 + $119,750 + $2,447,250 + $867,750 - $104,000 - $57,400 - $1,377,600 - $3,780,000 = $1,692,500