Use the Following Information to Answer the Question(s) Below

question 48

Multiple Choice

Use the following information to answer the question(s) below.

On January 1, 2012, Shrimp Corporation purchased a delivery truck with an expected useful life of five years, and a salvage value of $8,000. On January 1, 2014, Shrimp sold the truck to Pacet Corporation. Pacet assumed the same salvage value and remaining life of three years used by Shrimp. Straight-line depreciation is used by both companies. On January 1, 2014, Shrimp recorded the following journal entry:

-Controlling interest share in consolidated net income for 2014 was

• A)$121,000.
• B)$125,000.
• C)$131,000.
• D)$143,000.

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Definitions:

Company Background

Information detailing the history, foundation, values, and key achievements of a business or organization.

Proposal Requirements

The specific criteria, guidelines, or conditions that must be met in a proposal to ensure it is complete, competitive, and compliant.

Decision Criteria

Standards or benchmarks used to evaluate options and make choices in decision-making processes.

Typical RFPs

Standard Requests for Proposals, which are documents issued by organizations to solicit bids from potential vendors for a project or service.