Femur Co Acquired 70% of the Voting Common Stock of Harbor

question 104

Multiple Choice

Femur Co. acquired 70% of the voting common stock of Harbor Corp. on January 1, 2014. During 2014, Harbor had revenues of $2,500,000 and expenses of $2,000,000. The amortization of excess cost allocations totaled $60,000 in 2014.
What is the effect of including Harbor in consolidated net income for 2014?

• A) $350,000.
• B) $308,000.
• C) $500,000.
• D) $440,000.
• E) $290,000.

---

Definitions:

Applicant Tracking Systems

Computer platforms that gather and save received resumes, assisting hiring managers in identifying suitable candidates for existing vacancies.

Job Description

A formal account of an employee's responsibilities, duties, and the scope of a specific job role.

Résumés

Résumés are formal documents that summarize an individual's education, work experience, skills, and accomplishments, typically used for job applications.

Work Experience

The history of jobs and roles a person has held, highlighting their skills, achievements, and contributions.