The Following Information Pertains to Questions

question 57

Multiple Choice

The following information pertains to questions
Find Corp.is a joint venture in which Seek Inc.has a 20% interest.Seek uses the equity method to account for its investment but has yet to make any journal entries for 2010.The financial statements of both companies are shown below on December 31,2010. During 2010,Seek sold merchandise totaling $120,000 to Find and recorded a gross profit of 50% on these sales.At the end of 2010,Find's inventory contained $30,000 worth of merchandise purchased from Seek.Find also owed $50,000 to find at the end of 2010.
Seek shall use the proportionate consolidation method (current Canadian GAAP) to report its investment in Find Corp.for 2010.Both companies are subject to 40% tax rate.
-What is the total amount of deferred taxes that would appear on Seek's Consolidated Balance Sheet as at December 31,2010?

• A)$12,000
• B)$8,000
• C)$10,000
• D)$800

Explain the mechanisms of cultural and iconographic diffusion in ancient American civilizations.

Recognize and describe the significance of major archaeological sites in Mesoamerica for the Aztec.

Understand ancient American peoples’ responses to environmental challenges and their migrations.

Identify the subjects and themes of Teotihuacano murals and their cultural significance.

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Definitions:

Growth Factors

Elements or conditions that stimulate development or expansion, particularly in economic or biological contexts.

Chattanooga

A city in southeastern Tennessee, known for its rich history, scenic beauty, and economic significance.

50th Percentile

A statistical measure indicating the value below which 50% of observations in a group fall.

Geometric Mean

The nth root of the product of n numbers, useful for determining the average rate of return over time.