Summer Company sells all its output at 25 percent above cost. Parade Corporation purchases all its inventory from Summer. Selected information on the operations of the companies over the past three years is as follows:

Parade acquired 60 percent of the ownership of Summer on January 1, 20X1, at underlying book value.

Required:
Compute consolidated net income and income assigned to the controlling interest for 20X2, 20X3, and 20X4.

Summer Company sells all its output at 25 percent above cost. Parade Corporation purchases all its inventory from Summer. Selected information on the operations of the companies over the past three years is as follows:

Parade acquired 70 percent of the ownership of Summer on January 1, 20X1, at underlying book value.

Required:
Compute consolidated net income and income assigned to the controlling interest for 20X2, 20X3, and 20X4.

Summer Company sells all its output at 25 percent above cost. Parade Corporation purchases all its inventory from Summer. Selected information on the operations of the companies over the past three years is as follows:

Parade acquired 60 percent of the ownership of Summer on January 1, 20X1, at underlying book value.

Required:
Compute consolidated net income and income assigned to the controlling interest for 20X2, 20X3, and 20X4.

On January 1, 2017, Harrison, Inc., acquired 90 percent of Starr Company in exchange for $1,125,000 fair-value consideration. The total fair value of Starr Company was assessed at $1,200,000. Harrison computed annual excess fair-value amortization of $8,000 based on the difference between Starr’s total fair value and its underlying book value. The subsidiary reported net income of $70,000 in 2017 and $90,000 in 2018 with dividend declarations of $30,000 each year. Apart from its investment in Starr, Harrison had net income of $220,000 in 2017 and $260,000 in 2018.

What is the consolidated net income in each of these two years?

What is the balance of the noncontrolling interest in Starr at December 31, 2018?

You are a cybersecurity consultant and just met with the CISO’s team. During this meeting on the cybersecurity readiness of the company, CISO showed you risk matrices that have more colors than the rainbow. Later, during your interviews, you found out that most of the cybersecurity staff is pretty grim and thinks that a breach will lead to a very big loss and bankrupt the company.

Now it is your time to gather your thoughts to write a report for the CEO. You get your Summer Berry Panna Cotta Frappuccino from Starbucks and start formulating some of the key points you’d like to raise. These include: Reason to move away from risk matrices, alternative methods to assess risk, a plan to deal with resistance to using quantitative risk assessment while explaining why there is such a resistance, and activities of a risk management workshop where you get the cybersecurity staff ready for quantitative analysis.

This question covers almost everything the books discusses. Take your time and discuss in depth.

Blossom Company began operations on January 2, 2019. It employs 9 individuals who work 8-hour days and are paid hourly. Each employee earns 10 paid vacation days and 6 paid sick days annually. Vacation days may be taken after January 15 of the year following the year in which they are earned. Sick days may be taken as soon as they are earned; unused sick days accumulate. Additional information is as follows.

Blossom Company has chosen not to accrue paid sick leave until used, and has chosen to accrue vacation time at expected future rates of pay without discounting. The company used the following projected rates to accrue vacation time.

(a)Prepare journal entries to record transactions related to compensated absences during 2019 and 2020. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 0 decimal places, e.g. 5,125.)

The following information relates to the equity investments to Benji Company on 2020.

1. On January 1, Benji acquires 50,000 ordinary shares (represent 30% ownership) of Coconut Plc for $130,000.
2. On May 1, Benji purchased 2,000 shares (less than 10% ownership) of Dodo Co. at $18 per share.
3. On June 1, Benji purchased 3,000 shares (less than 10% ownership) of Denver Co. at $15 per share
4. On July 1, Benji sold 500 shares of Dodo for $19 per share.
5. On September 30, Coconut declared and paid cash dividend totaling to $ 100,000
6. On December 1, Dodo declared and paid a $1 per share cash dividend.
7. On December 10, Denver declared a cash dividend of $2 per share to be paid in the next month.
8. On December 31, Coconut, Denver, and Dodo reported net income $230,000; $400,000; and 325,000 respectively.
9. At December 31, 2020, the shares had the following price per share value: Coconut $25, Dodo $17 and Denver $17

Instructions

1. Prepare any journal entries you consider necessary, including year-end entries (December 31), assuming these investments (except investment in Coconut Plc. share) are managed to profit from changes in market price (held for trading). Benji Company doesn’t have equity investment before 2020.
2. Prepare a partial statement of financial position showing the Investment account at December 31, 2020

If exports increased to Canada and imports from Canada to the US also increased, without any other changes in the US and Canada's economies, then what would happen to the US Dollar exchange rate to the Canadian Dollar? Explain. Justify your answer.

suppose the 2000 US census is collected for every person in the US and it allows researchers to calculate summary quantities like the percent of the US population in a specified age range. What is the mean squared error of these summary quantities calculated from the census?