Wilson Owned Equipment with an Estimated Life of 10 Years

question 37

Multiple Choice

Wilson owned equipment with an estimated life of 10 years when it was acquired for an original cost of $80,000. The equipment had a book value of $50,000 at January 1, 2012. On January 1, 2012, Wilson realized that the useful life of the equipment was longer than originally anticipated, at ten remaining years. On April 1, 2012 Simon Company, a 90% owned subsidiary of Wilson Company, bought the equipment from Wilson for $68,250 and for depreciation purposes used the estimated remaining life as of that date. The following data are available pertaining to Simon's income and dividends: $\begin{array}{lrrr}&2012&2013&2014\\\text { Net income } & \$ 100,000 & \$ 120,000 & \$ 130,000 \\\text { Dividends } & 40,000 & 50,000 & 60,000\end{array}$ Compute the amortization of gain through a depreciation adjustment for 2012 for consolidation purposes.

• A)$1,950.
• B)$1,825.
• C)$1,500.
• D)$2,000.
• E)$5,250.

Recognize the physiological symptoms associated with specific psychological conditions.

Identify and match different types of fractures with their definitions.

Recognize and match terms related to wound care and injury management with their appropriate definitions.

Understand and describe the causes and management of different types of burns.

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Definitions:

Honor Cultures

Cultures where personal or family reputation and honor are deemed highly important, often influencing social behavior and conflict resolution.

Face Cultures

Societies that emphasize maintaining honor, respect, and social standing, often prioritizing social harmony over individual expression.

Conflict

A process that occurs when individuals or groups perceive that they have incompatible interests, goals, or values.

Robbers Cave Experiment

The Robbers Cave Experiment was a psychological study on intergroup conflict and cooperation, finding that competitive tasks increase hostility between groups while cooperative tasks reduce it.