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

question 4

Multiple Choice

Use the following information to answer the question(s) below.
On January 1,2014,Penelope Company acquired a 90% interest in Leah Company for $180,000 cash.On January 1,2014,Leah Company had the following assets and liabilities: Push-down accounting is used for the acquisition.
-Assume the parent company theory is used.On January 2,2014,Leah Company will report Goodwill of ________ and Accounts Receivable of ________ on Leah's balance sheet.

• A)$27,000;$30,000
• B)$27,000;$35,000
• C)$30,000;$30,000
• D)$45,000;$34,500

Analyze the appropriateness of process costing in different manufacturing and assembly operations.

Calculate equivalent units for materials and conversion costs under the weighted-average method.

Understand the concept and application of equivalent units of production in a process costing system.

Identify and explain the components of a cost reconciliation report under the weighted-average method.

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Definitions:

Family Environment

encompasses the social and emotional atmosphere in which a person grows up or lives, including relationships with family members and the way family functions.

Personality Development

The growth and development of the aspects of a person's character and psychological makeup over time.

Adopted Children

Young individuals who have been legally taken into a family that is not their biological relatives, gaining all the rights and privileges of a biological child.

Psychogenic

Originating from psychological factors rather than physical causes.