Prime Company Acquired 100 Percent of the Voting Common Shares

question 52

Multiple Choice

Prime Company acquired 100 percent of the voting common shares of Standard Video Corporation,its bitter rival,by issuing bonds with a par value and fair value of $150,000.Immediately prior to the acquisition,Prime reported total assets of $500,000,liabilities of $280,000,and stockholders' equity of $220,000.At that date,Standard Video reported total assets of $400,000,liabilities of $250,000,and stockholders' equity of $150,000.Included in Standard's liabilities was an account payable to Prime in the amount of $20,000,which Prime included in its accounts receivable.
-Based on the preceding information,what amount of total liabilities was reported in the consolidated balance sheet immediately after acquisition?

• A)$500,000
• B)$530,000
• C)$280,000
• D)$660,000

Identify effective study techniques based on psychological research.

Understand the significance of comparative psychology and the benefits of studying various animal species to gain insights into human behavior.

Acknowledge the importance of distributed practice over massed practice for better retention and recall of information.

Understand the foundational figures and their contributions to psychology.

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Definitions:

Pascal's Triangle

Pascal's Triangle is a triangular array of binomial coefficients, with each row constructing the coefficients of the expansions of a binomial raised to consecutive powers.

Expression

A combination of symbols that jointly represent a quantity; may include numbers, variables, and operation symbols.

\(x\)

A symbol commonly used to denote a variable in equations and functions.

Binomial Theorem

A fundamental theorem in algebra that describes the algebraic expansion of powers of a binomial.