On January 1, 2010, Palk Corp

question 31

Multiple Choice

On January 1, 2010, Palk Corp. and Spraz Corp. had condensed balance sheets as follows: On January 2, 2010, Palk borrowed the entire $84,000 it needed to acquire 80% of the outstanding common shares of Spraz. The loan was to be paid in ten equal annual principal payments, plus interest, beginning December 31, 2010. The excess consideration transferred over the underlying book value of the acquired net assets was allocated 60% to inventory and 40% to goodwill. What is consolidated current assets at January 2, 2010?

• A) $127,000.
• B) $129,800.
• C) $143,800.
• D) $148,000.
• E) $135,400.

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Definitions:

Pedophilia

A psychiatric disorder in which an adult or older adolescent experiences a primary or exclusive sexual attraction towards prepubescent children.

Stop-Start Procedure

A technique used in various contexts, including behavioral therapy and stress testing, where an action is initiated and then stopped after a certain period, before starting again.

Premature Ejaculation

A type of sexual dysfunction where ejaculation happens almost always before or within around a minute of vaginal penetration.

Paraphilias

Atypical sexual interests that may involve non-consenting partners, extreme or risky activities, or discomfort to oneself or others.