Assuming There Are No Excess Amortizations Associated with the Consolidation

question 67

Multiple Choice

Assuming there are no excess amortizations associated with the consolidation, and no other intra-entity asset transfers, compute Wilson's share of income from Simon for consolidation for 2019.

• A) $118,825.
• B) $115,000.
• C) $117,000.
• D) $119,000.
• E) $118,800.

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Definitions:

Excess Demand

A situation where the quantity demanded of a good or service exceeds its supply at the current price.

Ration

To distribute or allocate a resource, good, or service in limited amounts, often during shortages or to ensure equitable distribution.

Good

A material item or service that satisfies a human want or need.

Price

The fiscal amount deemed necessary, expected, or expended in purchasing something.