Expectations play a huge role in our careers as well as the people around us. Having an MBA will grant you access to positions that you might not have been able to obtain before. Write on Paragraph about what your expectation is for your career once you obtain an MBA and another about how co-workers have played a role in your success.

Predict the effect of a bottleneck or founder effect on allelic diversity.

Question 6

Bonita Company has the following portfolio of investment securities at September 30, 2020, its most recent reporting date.

On October 10, 2020, the Horton shares were sold at a price of $56 per share. In addition, 2,750 shares of Patriot common stock were acquired at $57 per share on November 2, 2020. The December 31, 2020, fair values were Monty $104,680, Patriot $124,190, and Oakwood $184,410.

Prepare the journal entries to record the sale, purchase, and adjusting entries related to the equity securities in the last quarter of 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

On December 18, 2020, Stephanie Corporation acquired 100 percent of a Swiss company for 4.023 million Swiss francs (CHF), which is indicative of book and fair value. At the acquisition date, the exchange rate was $1.00 = CHF 1. On December 18, 2020, the book and fair values of the subsidiary’s assets and liabilities were as follows:

Stephanie prepares consolidated financial statements on December 31, 2020. By that date, the Swiss franc has appreciated to $1.10 = CHF 1. Because of the year-end holidays, no transactions took place prior to consolidation.

1. Determine the translation adjustment to be reported on Stephanie’s December 31, 2020, consolidated balance sheet, assuming that the Swiss franc is the Swiss subsidiary’s functional currency. What is the economic relevance of this translation adjustment?

2. Determine the remeasurement gain or loss to be reported in Stephanie’s 2020 consolidated net income, assuming that the U.S. dollar is the functional currency. What is the economic relevance of this remeasurement gain or loss?

Short essay questions.

Typed answers, please

6) Why and how did the South and the West of the U.S. catch up with the Northeast in terms of population, economic growth, and industrial output?

7) How does California differ from the other states?

8)  Why has Quebec sought separation from the Canadian federation?

9) How does Canada differ from the United States?

10) What is NAFTA? What have been the benefits of NAFTA to its members?

Marin Industries has the following patents on its December 31, 2019, balance sheet.

The following events occurred during the year ended December 31, 2020.

The proper discount rate to be used for these flows is 8%. (Assume that the cash flows occur at the end of the year.)

Compute the total carrying amount of Marin' patents on its December 31, 2020, balance sheet.

Additional Information:

12. Patents were acquired at a cost of $80 000 on 1 July 2016. They have an estimated life of 16 years, of which 12 years remain on 30 June 2020.
13. The brand name is stated at fair value and is internally generated.
14. The licence, acquired one year ago, has a 10-year life of which nine years remain. The licence can be traded in an active market and has a fair value of 1.1 million.

Some of the treatments by XYZ may be inconsistent with the accounting standards AASB 138 “Intangible Assets”.

REQUIRED:

For EACH intangible asset, specify and briefly justify the following accounting decisions in accordance with AASB 138 ‘Intangible Assets’:

1. How should the intangible asset be initially recognized?
2. What is the appropriate subsequent measurement basis (i.e., measurement model) of the recognised asset?
3. Is the recognised asset subject to amortization?

4. Calculate the carrying amount of each asset at 30 June 2020. No journal entry is required.

Black Co. acquired 100% of Blue, Inc. on January 1, 2020. On that date, Blue had land with a book value of $38,000 and a fair value of $49,000. Also, on the date of acquisition, Blue had a building with a book value of $250,000 and a fair value of $460,000. Blue had equipment with a book value of $340,000 and a fair value of $280,000. The building had a 10-year remaining useful life and the equipment had a 5-year remaining useful life. How much total expense will be in the consolidated financial statements for the year ended December 31, 2020 related to the acquisition allocations of Blue

Problem I. On January 1, 2019, P Corp acquired 80% of the outstanding common stock of S Corp for $820,000 cash. On that date, S Company’s stockholders’ equity consisted of common stock, $150,000; other contributed capital, $200,000; and retained earnings, $350,000. P Corp paid more than the book value of net assets acquired because the recorded cost of S Corp’s equipment (5 year remaining useful life) was $40,000 less than its fair value; the remainder was allocated to goodwill. There were acquisition related costs of $40,000 at the date of acquisition.

During 2019 S Corp earned $240,000 and declared and paid a $80,000 dividend. P Corp used the equity method to record its investment in S Corp. In addition, P Corp sold (transferred) $100,000 of goods to S Corp on account. The goods cost P Corp $60,000. At the end of 2019, approximately $20,000 of the transfer remains unsold.

During 2020 S Corp earned $280,000 and declared and paid a $90,000 dividend. The unsold goods from 2019 were all sold to 3^rd parties. In addition, P Corp. sold (transferred) $120,000 of goods to S Corp on account. The goods cost P Corp $90,000. At the end of 2020, approximately $30,000 of the transfer remains unsold.

1-. Prepare the journal entries on P Corp’s books to record S Corp’s income and dividends during 2020, as well as any other necessary journal entries during the year.

2-Prepare the worksheet entries at December 31, 2020