Which currency area, the 50 states of the United States or the member nations of the euro-zone, performs better as an optimum currency area?

Question 5 Accounting for Consolidation                                                                

The accountant of Park Ltd needs to prepare consolidated financial statements for Park Ltd at the end of financial year. Following information was available on 30 June 2020:

Park Ltd acquired 100 per cent interest in Sun Ltd for $850,000 on 1 July 2015. All assets and liabilities were fairly valued on the acquisition date. At the date of acquisition, the equity of Sun Ltd included:

Share capital                                 $320,000

Reserve                                        $160,000

Retained earnings                         $280,000

The balance of the investment account was $850,000 as shown in the Statement of Financial Position of Park Ltd on 30 June 2020.

1. The directors of Park Ltd believed that goodwill acquired was impaired by 20 per cent for the year ended 30 June 2020.
2. On 17 February 2020, Sun Ltd paid $60,000 in management fees to Park Ltd.
3. On 3 March 2020, Park Ltd sold inventory to Sun Ltd at a value of $48,000.
4. The above inventory had a cost of $29,000 for Park Ltd to produce. All inventories remained unsold in Sun Ltd on 30 June 2020. Park Ltd and Sun Ltdadopt the perpetual inventory system for inventory accounting. The income tax rate is 30%.

Required: (Narrations are required in this question)     

1. Describe the measurement of goodwill acquired in this question according to AASB 3.
2. Prepare relevant consolidation journal entries on 30 June 2020.

The accountant of Park Ltd needs to prepare consolidated financial statements for Park Ltd at the end of financial year. Following information was available on 30 June 2020:

Park Ltd acquired 100 per cent interest in Sun Ltd for $850,000 on 1 July 2015. All assets and liabilities were fairly valued on the acquisition date. At the date of acquisition, the equity of Sun Ltd included:

Share capital                                 $320,000

Reserve                                        $160,000

Retained earnings                         $280,000

The balance of the investment account was $850,000 as shown in the Statement of Financial Position of Park Ltd on 30 June 2020.

1. The directors of Park Ltd believed that goodwill acquired was impaired by 20 per cent for the year ended 30 June 2020.
2. On 17 February 2020, Sun Ltd paid $60,000 in management fees to Park Ltd.
3. On 3 March 2020, Park Ltd sold inventory to Sun Ltd at a value of $48,000.
4. The above inventory had a cost of $29,000 for Park Ltd to produce. All inventories remained unsold in Sun Ltd on 30 June 2020. Park Ltd and Sun Ltd adopt the perpetual inventory system for inventory accounting. The income tax rate is 30%.

Required: (Narrations are required in this question)     

1. Describe the measurement of goodwill acquired in this question according to AASB 3.
2. Prepare relevant consolidation journal entries on 30 June 2020.

"Economic Sanctions"

1. What is the sanctions process in the United States, the United Nations, in the European Union?

2. Do sanctions work? Why? Why not?

Why should a person living in the United States be familiar with the trade relationship between the United States and Mexico or Guatemala and the fact that this relationship is experienced differentially on either side of the border? How might that understanding affect you as a consumer of goods and media in the U.S.? How might it lead you to question the symbolic violence that supports the structural violence?

3. Would a pro-free market economist argue that garlic farmers facing competition from garlic farmers outside the United States (those foreign farmers can use very inexpensive labor) should be 'helped out' by the United States government (perhaps the government could give them some money)? Why, why not?

Explain how trade with low-wage countries affects jobs in the United States. How can the United States pay its workers higher wages than foreign nations and still be competitive in foreign markets? 80words

Although people may grow grapefruit in Idaho, why do they purchase most if their grapefruit from California and Florida?

1. Should U.S. companies should increase base pay (beyond the level that would be paid in the United States) to motivate employees to accept foreign assignments?
2. What are the main differences between health care systems in the United States and some other countries? Does it appear that the costs of health care programs are creating burdens for competitive advantage?