Pitino acquired 90 percent of Brey's outstanding shares on January 1, 2016, in exchange for $486,000 in cash. The subsidiary's stockholders' equity accounts totaled $470,000 and the noncontrolling interest had a fair value of $54,000 on that day. However, a building (with a ten-year remaining life) in Brey's accounting records was undervalued by $45,000. Pitino assigned the rest of the excess fair value over book value to Brey's patented technology (four-year remaining life).

Brey reported net income from its own operations of $80,000 in 2016 and $96,000 in 2017. Brey declared dividends of $27,000 in 2016 and $31,000 in 2017.

At December 31, 2018, Pitino owes Brey $32,000 for inventory acquired during the period.

The following separate account balances are for these two companies for December 31, 2018, and the year then ended.

Note: Parentheses indicate a credit balance.

What was the annual amortization resulting from the acquisition-date fair-value allocations?

Were the intra-entity transfers upstream or downstream?

What intra-entity gross profit in inventory existed as of January 1, 2018?

What intra-entity gross profit in inventory existed as of December 31, 2018?

What amounts make up the $117,090 Equity Earnings of Brey account balance for 2018?

What is the net income attributable to the noncontrolling interest for 2018?

What amounts make up the $621,675 Investment in Brey account balance as of December 31, 2018?

Prepare the 2018 worksheet entry to eliminate the subsidiary’s beginning owners’ equity balances.

Without preparing a worksheet or consolidation entries, determine the consolidation balances for these two companies.

a. What was the annual amortization resulting from the acquisition-date fair-value allocations?
b. Were the intra-entity transfers upstream or downstream?
c. What intra-entity gross profit in inventory existed as of January 1, 2018?
d. What intra-entity gross profit in inventory existed as of December 31, 2018?

e. What amounts make up the $117,090 Equity Earnings of Brey account balance for 2018?

f. What is the net income attributable to the noncontrolling interest for 2018?

g. What amounts make up the $621,675 Investment in Brey account balance as of December 31, 2018?

h. Prepare the 2018 worksheet entry to eliminate the subsidiary's beginning owners' equity balances. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Consolidation Worksheet Entries

Note: Enter debits before credits.

1) You receive $10,000 now for an investment that will give you cash flows of $1000 in one year, $2000 in two years, $3000 in three years, and $4000 in four years. If the discount rate is 5% then what is the PV of this investment? (Enter the answer in dollar format without $ sign or thousands comma -> 3519.23 and not $3,519.23 or 3,519.23)

In detecting the direction of a sound source, what factors are most important at (a) low frequencies and (b) high frequencies? With reference to the structure of the human head, why is discrimination of a sound source less accurate at frequencies close to 2000 Hz? What directions are particularly difficult to determine? Why?

PLEASE DO NOT REPOST AN OLDER ANSWER, THEY ARE NOT RIGHT

You are analyzing an investment opportunity for your firm. The investment will cost $10,000 to undertake and will produce a cashflow of $2000 at the end of every year for the next 6 years. What is the internal rate of return?
Select one:
a. About 4%
b. About 4.5%
c. About 5%
d. About 5.5%
e. None of the above.

Discuss the significance and achievements of the National Rural Employment Guarantee Act (NREGA). Discuss the criticisms that have been raised against the act and how far they are valid. Discuss how effective is the public distribution system (PDS) in India. Evaluate the idea of wholesale replacement of the PDS with a cash transfer system.

ANSWER IN ABOUT 2000 WORDS.

True or false and explain

1. The paradox of thrift occurs when an increase in saving leads to an increase in investment spending.

2. Suppose that the economy of Kennyland has an MPC of 0.8and an MPIM of 0.2. Currently, real GDP is $1800 and full-employment GDP is $2000. In this example, an increase in government spending of $40 will eliminate the GDP gap.

Early 2000 years were famous for corporate scandals (Enron, Worldcom, and Tyco) Please give a recent example of an agency problem or scandal that came to light in the media. Make a reference to the textbook and state what type of conflict you are describing. (Stockholders vs. managers, managers vs. creditors, etc) Provide your reference.

Walter is Jack’s widower father who dies on January 20, 2018. For the past several years, Walter has qualified as a dependent of the Smiths.

Is he still qualifies as a dependent on the tax return of 2018 or not. Explain

An agent for a residential real estate company in a suburb located outside a major city has the business objective of developing more accurate estimates of the monthly rental cost for apartments. Toward the? goal, the agent would like to use the size of an? apartment, as defined by square footage to predict the monthly rental cost. The agent selects a sample of 8? one-bedroom apartments and the data are shown. Complete parts? (a) through? (f). Monthly Rent? ($) 925 1 comma 450 825 1 comma 450 1 comma 950 975 1 comma 800 1 comma 300 Size? (Square Feet) 850 1 comma 200 950 1 comma 150 2 comma 000 650 1 comma 250 1 comma 050 a. Construct a scatter plot. Choose the correct graph below. A. 0 2,000 0 2,000 Size (Sq ft) Rent ($) A scatter plot has a horizontal axis labeled Size (in square feet) from 0 to 2000 in increments of 400 and a vertical axis labeled Rent ($) from 0 to 2000 in increments of 400. A series of plotted points fall exactly on a line that falls from left to right, where the points range from (650,1500) to (2,000,500). All coordinates are approximate. B. 0 2,000 0 2,000 Size (Sq ft) Rent ($) A scatter plot has a horizontal axis labeled Size (in square feet) from 0 to 2000 in increments of 400 and a vertical axis labeled Rent ($) from 0 to 2000 in increments of 400. A series of plotted points fall exactly on a line that rises from left to right, where the points range from (650,650) to (2,000,2000). All coordinates are approximate. C. 0 2,000 0 2,000 Size (sq ft) Rent ($) A scatter plot has a horizontal axis labeled Size (in square feet) from 0 to 2000 in increments of 400 and a vertical axis labeled Rent ($) from 0 to 2000 in increments of 400. A series of plotted points are clustered around a line that falls from left to right passing through the points (800,1200) and (1200,1000). All coordinates are approximate. D. 0 2,000 0 2,000 Size (Sq ft) Rent ($) A scatter plot has a horizontal axis labeled Size (in square feet) from 0 to 2000 in increments of 400 and a vertical axis labeled Rent ($) from 0 to 2000 in increments of 400. A series of plotted points are clustered around a line that rises from left to right passing through the points (1200,1400) and (1600,1700). All coordinates are approximate. b. Use the? least-squares method to determine the regression coefficients b 0 and b 1. b 0 equals 25.3 ?(Round to one decimal place as? needed.) b 1 equals 0.8 ?(Round to one decimal place as? needed.) c. Interpret the meaning of b 0 and b 1 in this problem. Choose the correct answer below. A. For each increase of 1 square foot in? space, the monthly rent is expected to increase by b 1 do l l ars. Since X cannot be? zero, b 0 has no practical interpretation. B. For each increase of 1 square foot in? space, the monthly rent is expected to increase by b 0 do l l ars. Since X cannot be? zero, b 1 has no practical interpretation. C. For each increase of 1 square foot in? space, the monthly rent is expected to increase by b 0 do l l ars. Apartments in this neighborhood cost at least b 1 do l l ars. D. For each increase of 1 square foot in? space, the monthly rent is expected to increase by b 1 do l l ars. Apartments in this neighborhood cost at least b 0 do l l ars. d. Predict the mean monthly rent for an apartment that has? 1,000 square feet. The predicted mean monthly rent for such an apartment is ?$ 25 25. ?(Round to the nearest cent as? needed.) e. Why would it not be appropriate to use the model to predict the monthly rent for apartments that have 500 square? feet? A. The model predicts that the monthly rent for an apartment that has 500 square feet would be unrealistically low. B. The size of an apartment has no effect on the monthly? rent, according to this model. There must be another factor that contributes to the rent price. C. The correlation between an? apartment's size and its monthly rent is too weak to use this model for such a prediction. D. An apartment with 500 square feet is outside the relevant range for the independent variable. f. Two people are considering signing a lease for an apartment in this neighborhood. They are trying to decide between two? apartments, one with? 1,000 square feet for a monthly rent of? $1,275 and the other with? 1,200 square feet for a monthly rent of? $1,425. Based on? (a) through? (d), which apartment is a better? deal? Based on? (a) through? (d), the apartment with 1,000 1,200 1,000 square feet is the better deal. Click to select your answer(s).