Figure:
Acker Inc Howell Reported Net Income of $100,000 in 2010 and $120,000

question 11

Multiple Choice

Figure:
Acker Inc. bought 40% of Howell Co. on January 1, 2010 for $576,000. The equity method of accounting was used. The book value and fair value of the net assets of Howell on that date were $1,440,000. Acker began supplying inventory to Howell as follows: $\begin{array}{cccc}\text { Year } & \begin{array}{c}\text { Cost to } \\\text { Acker }\end{array} & \begin{array}{c}\text { Transfer } \\\text { Price }\end{array} & \begin{array}{c}\text { Amount Held by } \\\text { Howell at Year-End }\end{array} \\2010 & \$ 55,000 & \$ 75,000 & \$ 15,000 \\2011 & \$ 70,000 & \$ 110,000 & \$ 55,000\end{array}$ Howell reported net income of $100,000 in 2010 and $120,000 in 2011 while paying $40,000 in dividends each year.
-What is the amount of unrealized intra-entity inventory profit to be deferred on December 31, 2011?

• A) $1,600.
• B) $8,000.
• C) $15,000.
• D) $20,000.
• E) $40,000

Analyze and interpret adolescent behavior within the context of identity development.

Apply concepts of identity status to real-life scenarios.

Recognize the importance of supportive environments in adolescent development, especially for at-risk populations.

Develop strategies for creating inclusive and supportive school environments for all students.

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Definitions:

Federal Government Agencies

Organizations established by the federal government to implement certain policies, regulate activities, and provide specific services.

Mortgages

Loans secured by real property used by individuals and businesses to purchase homes or other real estate without paying the entire purchase price upfront.

Civil War

A Civil War is an intense conflict within a country fought by factions or communities seeking to take control of the nation or to change government policies.

Important Crop

A key agricultural product that plays a crucial role in the economy of a region or country due to its value and usage.