Company P Acquired 60% of the Outstanding Common Stock of Company

question 37

Multiple Choice

Company P acquired 60% of the outstanding common stock of Company S by issuing common stock with a market value of $420,000 on January 1, 2016.The balance sheet of Company S was as follows on the acquisition date:
$$\begin{array} { l r l r } \text { Assets } & & \text { Liabilities and Equity } & \\\text { Cash } & \$ 50,000 & \text { Liabilities } & \$ 80,000 \\\text { Inventory } & 100,000 & \text { Common stock, } \$ 10 \text { par } & 100,000 \\\text { Land } & 100,000 & \text { Other paid-in capital } & 120,000 \\\text { Building (net) } & 250,000 & \text { Retained earnings } & 200,000 \\\quad \text { Total } & \$ 500,000 & \text { Total } & \$ 500,000\end{array}$$ The market values were as follows: Inventory, $130,000; Land, $150,000; Building, $400,000.The inventory was sold during 2016, the building has a 10-year life, and any excess purchase price is attributed to goodwill.What adjustment is needed to consolidated net income to arrive at cash flow-operations for 2017, under the indirect method, as a result of amortization of excesses from the purchase?

• A)$1,000
• B)$9,000
• C)$14,800
• D)$15,000

Recognize the influence of psychoanalytic theory on the perception of self and others.

Gain knowledge about the significance of dreams and their interpretation in psychoanalytic theory.

Describe the social-cognitive perspective on personality, including the concepts of self-efficacy and reciprocal determinism.

Understand the Big Five personality traits and other trait-based theories of personality.

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Definitions:

Extension

The movement that increases the angle between two body parts, such as straightening a flexed knee.

Plantar Flexion

The movement of the foot that increases the angle between the foot and the shin, as in standing on tiptoe.

Dorsiflexion

The movement that brings the top of the foot toward the shin, as seen when walking on the heels.

Eversion

The movement of the sole of the foot away from the median plane, or turning the foot outward.