Answer:
C
Explanation :
D
The FDA cannot control the content of celebrity Tweets on prescription drugs.
Group of answer choices
True
False
Answer:
True
Explanation:
The FDA guidance requires pharmaceutical companies to present both benefit and risk information when promoting their FDA-regulated products on social media. ... Such information needs to be provided regardless of any character space constraints on some social media platforms such as Twitter.
True, the FDA cannot control the content of celebrity Tweets on prescription drugs.
What is FDA?Located under the Department of Health and Human Services, the Food and Drug Administration (FDA or USFDA) is a federal organization. The FDA is in charge of ensuring the safety of food, tobacco products, dietary supplements, prescription and over-the-counter medications, vaccines, biopharmaceuticals, blood transfusions, medical devices, electromagnetic radiation emitting devices (ERED), cosmetics, animal foods & feed, and veterinary products in order to protect and advance public health. The Federal Food, Drug, and Cosmetic Act (FD&C) is the FDA's major area of enforcement, although the organization also upholds related regulations and other laws, most notably Section 361 of the Public Health Service Act. A large portion of this regulatory-enforcement job concerns the regulation of condoms, lasers, cell phones, and other items, as well as the prevention and control of disease in settings ranging from domestic pets to donated human sperm for assisted reproduction.
Depending on the kind of product, any potential risks, and the agency's regulatory authority, many safety regulation schemes exist. For instance, the FDA controls practically every aspect of prescription pharmaceuticals, including testing, manufacturing, labelling, advertising, marketing, efficacy, and safety; meanwhile, the FDA primarily controls labelling and safety for cosmetics. With a set of stated standards and a sparse number of facility inspections, the FDA monitors the majority of products. On Form 483, inspection observations are recorded.
A number of laws passed by the US Congress and interpreted by the FDA control how the Food and Drug Administration regulates foods and dietary supplements. The Federal Food, Drug, and Cosmetic Act and related laws give the FDA the power to regulate the quality of substances sold as food in the US and to keep an eye on any claims made on food labels regarding their composition or health benefits.
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The year is 2022 and today is July 1 (by assumption). You plan to fly from Newark to Amsterdam on August 2 and return on August 25. Today you can buy a one-way ticket for $350 or a round-trip ticket for $660. You could also wait until August 1 to buy your tickets. On August 1, a one-way ticket in either direction will cost $370, and a round-trip ticket will cost $730. Between July 1 and August 1, there is a 30% chance that your best friend will be able to provide you with a free one-way ticket as a present. If you buy a round-trip ticket on July 1 for $660 and your friend provides a free ticket, then you can return the second half of your round-trip ticket to the airline, after paying a $50 penalty. In this case, your net travel cost will become $380. Develop a decision tree to determine how to minimize your expected travel cost. Find the optimal policy.
The optimal policy will be to book a round-trip ticket.
Based on the information given, there is a 30% chance that my best friend will be able to provide you with a free one-way ticket as a present. This will be represented on the decision tree as 0.3.
Therefore, the probability that I will not get a free ticket will be 0.7 which is calculated as 0.3 subtracted from 1.
The cost of booking the return ticket on August 1st will be:
= 350 + 370
= 720
In conclusion, the minimum expected travel is $576. The optimal strategy will be to book the round ticket now. An attachment has been attached for further understanding.
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purpose of corporate management
Answer:
to efficiently and effectively utilize the resources that the management has in hand.
hope this helps <3
Which of the following are true of NASA? You may choose more than one answer.
NASA's goal is to explore rock formations on Earth.
NASA was formed in 1958.
NASA stands for the National Aeronautics and Space Administration.
NASA was eventually based out of Orlando, Florida.
Answer:
NASA stands for the national aeronautics and space administration
Explanation:
I know this is right, just not sure about the other ones
Answer:
NASA was formed in 1958, NASA stands for the National Aeronautics and Space Administration.
Explanation:
Hope this helps! :)
The following information pertains to Carla Vista Company.
1. Cash balance per books, August 31, $7,374.
2. Cash balance per bank, August 31, $7,338.
3. Outstanding checks, August 31, $696.
4. August bank service charge not recorded by the depositor $48.
5. Deposits in transit, August 31, $3,110.
In addition, $2,426 collected for Carla Vista Company in August by the bank through electronic funds transfer. The accounts receivable collection has not been recorded Carla Vista Company.
Required:
Prepare a bank reconciliation at August 31, 2022.
If in addition, $2,426 collected for Carla Vista Company in August by the bank through electronic funds transfer. The accounts receivable collection has not been recorded Carla Vista Company. The bank reconciliation at August 31, 2022 will be:
Adjusted cash balance per bank $9,752 Adjusted cash balance per books $9,752Carla Vista Company bank reconciliation
Cash balance per bank statement $7,338
Add Deposit in transit $3,110
Less Outstanding checks ($696)
Adjusted cash balance per bank $9,752
Cash balance per books $7,374
Add Electronic funds transfer received $2,426
Less Bank service charge ($48)
Adjusted cash balance per book $9,752
Inconclusion if in addition, $2,426 collected for Carla Vista Company in August by the bank through electronic funds transfer. The accounts receivable collection has not been recorded Carla Vista Company. The bank reconciliation at August 31, 2022 will be:
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Pizza is a product. As you have learned, services are marketed differently. Hypothesize about how the service at your restaurant may be marketed in order to set your business apart from others. How is marketing a service different than for a product?
Answer:
It's very different
Explanation:
when marketing a product we are trying to show our customers the products by manipulating them with idols, Models..etc that will make the customers think it's a perfect thing to buy because they saw someone famous do it.
for example when you see Tonny Stark wat some pizza on tv you will want to buy the same pizza he is eating.
But for the service part it's intangible so they only can see it, by just showing how beautiful, fansy, luxurious and relaxing it is. For example when you see a commercial on tv about Hawaii.
kinh tế đầu tư là gì
Answer:
..OK I know what,is the mangsanswer
Explanation:
sjaksjhshsk
Drag the tiles to the correct boxes to complete the pairs.
Match each financial concept with its correct situation.
time value of money
store of value
personal disposable income
consumer credit
Angela chooses between having $1,000 now,
and investing it in a savings account so that
she can have $1,050 a year from now.
>
Jane has $2,500 monthly to spend after she
pays taxes
>
David saves his money for the future so he
can live comfortably in retirement
Lester uses a credit card to purchase a new
iPad, as he cannot pay the entire amount now.
Reset
Next
Angela = time value of money / Jane = personal disposable income / David = store of value / Lester = consumer credit
In economics, different concepts explain money and its use. Some of these concepts include:
Time value of money: This concept proposes money is more valuable today than in the future. This is shown by Angela because she decides to have $1000 rather than to invest this money.Personal disposable income: This refers to the amount of money one can spend after paying taxes. This concept is exemplified by Jane because $2500 is the amount of money she can spend after paying her taxes.Store of value: This concept implies money can be saved because it will have the same value in the future. This concept is exemplified by David because he expects the money he saves today is equally worth in some years.Consumer credit: This refers to loans to pay for products or services. This is what Lester is doing because he is using credit or a loan to pay for a new device.Learn more about economy in: https://brainly.com/question/951950
Answer:
Explanation:
If you want the answer faster, here it is.
Empire Airlines reports the following cost data for the year. The company flew 100 private flights during the year. A group has offered Empire $11,100 for a private flight to Chicago for its members. Revenue$ 20,100per flight Wages, salaries, and benefits$ 7,100per flight Fuel and oil$ 4,600per flight Food and beverages$ 520per flight Depreciation$ 305,000per year Rent$ 255,000per year (a) What is the contribution margin from accepting the offer
If Empire Airlines accepts the offer, their contribution margin from that trip would be -$1,120
Contribution margin is calculated as:
= Revenue - Variable costs
The revenue the group is offering is $11,100.
The Variable costs are;
= Wages + Fuel + Food
= 7,100 + 4,600 + 520
= $12,220
The Contribution margin is:
= 11,100 - 12,220
= -$1,120
In conclusion, the contribution margin is -$1,120
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What is yall favorite sport to play? And why?
An attempt to assess the worth of each job relative to other jobs is known as
Select one:
a. job analysis.
b. job evaluation
c. the wage-level decision.
d. performance appraisal.
e. benefit determination.
Can someone help??
An assessment is often carried out to fine out if someone or someone is performing up to task or doing what is expected.
An attempt to assess the worth of each job relative to other jobs is known as job evaluation.Job Evaluation is simply refered to as a form of stepwise process of knowing the capabilities or worth of one job when compared to another job in the organisation. During this evaluation, the known capabilities of various jobs are thoroughly viewed or assessed so that wages can be paid based upon the worth of the job.
Conclusively, Relative worth is known by based on job description and job specification and as such, job evaluation helps to know wages and salary level for all jobs.
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Someone help choose correctly
Answer:
Bottom one for sure and least I think is either top one or the second to last.
Explain what options there are for student loans.
Answer:
federal student loans and private loans.
Explanation:
Suppose that Markus Braun was trying to decide where he should open businesses next. He wants to make a rational decision. What should be his first step in making that decision?
a . Define the problem.
b. Generate alternative courses of action.
c, dentify criteria for judging the decision.
d. Compute the optimal decision.
Markus Braun's first step in making a rational decision is a. Define the problem.
The definition of the problem of where to open businesses will enable Markus to:
Establish critical decision criteria that will be used to adjudge the different choices.Ascertain and evaluate the optimal locations that will meet his investment requirements.
Six decision-making processes identified for achieving satisfactory outcomes include:
Step 1 is the Identification of the Problem Step 2 is the Establishment of the Decision Criteria Step 3 is the Weighing of the Decision Criteria Step 4 is the Generation or Identification of Alternatives Step 5 is the Evaluation of Alternatives Step 6 is the Selection of the Best Alternative
Thus, wherever these processes are followed, the probability of achieving favorable outcomes become higher.
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Hernando lives in a county where everyone pays the same amount of taxes no matter their income. Which type of tax system is Her
MOST likely using?
Answer: Proportional Tax System
Explanation:
Hernando's country is using proportional tax system or Flat tax system.
What is proportional tax system?Everyone pays the same tax rate under proportional taxes, regardless of income. Since everyone pays the same rate, regardless of their income, sales taxes are considered proportional regressive taxes.
No matter their wealth or income, everyone pays the same amount of tax under a proportionate or flat tax system. This approach aims to achieve parity between the average tax rate paid and the marginal tax rate.
Because there is no tax penalty for earning more money, proponents of proportional taxation contend that they promote the economy by motivating people to work harder. Additionally, they think that firms would be more willing to invest and spend money under a flat tax structure, boosting the economy.
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If a company exchanges a debt instrument with no ready market for property with an indeterminable fair value, it should not be recorded on
a. the books of either party until the fair value of the property becomes evident.
b. the board of directors of the entity receiving the property should estimate a value for the property that will serve as a basis for the transaction. c. the directors of both entities involved in the transaction should negotiate a value to be assigned to the property.
d. the present value of the debt instrument must be approximated using an imputed interest rate.
Answer:
the present value of the debt instrument must be approximated using an imputed interest rate.
Explanation:
Which of the following are examples of limited resources on the part of consumers?
product and space
money and product
time and money
space and time
Answer:
C
Explanation:
Most corporations pay quarterly dividends on their common stock rather than annual dividends. Barring any unusual circumstances during the year, the board raises, lowers, or maintains the current dividend once a year and then pays this dividend out in equal quarterly installments to its shareholders. a. Suppose a company currently pays an annual dividend of $2.80 on its common stock in a single annual installment, and management plans on raising this dividend by 6 percent per year indefinitely. If the required return on this stock is 12 percent, what is the current share price
Suppose a company currently pays an annual dividend of $2.80 on its common stock in a single annual installment, and management plans on raising this dividend by 6 percent per year indefinitely. If the required return on this stock is 12 percent, what the current share price will be is : $49.47
Using this formula
P0 = [D0 × (1 + g)] / [r - g]
Where:
P0 = Current share price
D0=Annual dividend
g=growth
r=Required return
Let plug in the formula
P0= [$2.80 × (1 + 0.06)] / [0.12 - 0.06]
P0= [$2.80 × (1.06)] / [0.06]
P0= $2.968 / 0.06
P0= $49.47
Inconclusion suppose a company currently pays an annual dividend of $2.80 on its common stock in a single annual installment, and management plans on raising this dividend by 6 percent per year indefinitely. If the required return on this stock is 12 percent, what the current share price will be is : $49.47
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Michek Company loans Sarasota Company $2,000,000 at 6% for 3 years on January 1, 2020. Michek intends to hold this loan to maturity and has the financial ability to do so. The fair value of the loan at the end of each reporting period is as follows. December 31, 2020 $2,050,000 December 31, 2021 2,020,000 December 31, 2022 2,000,000 Prepare the journal entry(ies) at December 31, 2020, and December 31, 2022, for Michek related to these bonds, assuming (a) it does not use the fair value option, and (b) it uses the fair value option. Interest is paid on January 1.
Michek Company's Journal Entries related to loans to Sarasota Company are as follows:
a) Journal Entries without using fair value option:
December 31, 2020:
Debit Interest Receivable $120,000
Credit Interest Revenue $120,000
To record the 6% interest due on January 1.December 31, 2022:
Debit Interest Receivable $120,000
Credit Interest Revenue $120,000
To record the 6% interest due on January 1.b) Journal Entries with fair value option
December 31, 2020:
Debit Loan Receivable $50,000
Credit Unrealized Gain from Fair Value $50,000
To record the fair value of the loan.Debit Interest Receivable $120,000
Credit Interest Revenue $120,000
To record the 6% interest due on January 1.December 31, 2022:
Debit Unrealized Loss from Fair Value $20,000
Credit Loan Receivable $20,000
To record the fair value of the loan.Debit Interest Receivable $120,000
Credit Interest Revenue $120,000
To record the 6% interest due on January 1.Data and Calculations:
January 1, 2020, amount of loan = $2,000,000
Interest rate = 6%
Period of loan = 3 years
December 31, 2020 2021 2022
Fair value of loan $2,050,000 2,020,000 2,000,000
Interest income $120,000 $120,000 $120,000 ($2,000,000 x 6%)
Payment of interest = January 1
December 31, 2021:
Debit Unrealized Loss from Fair Value $30,000
Credit Loan Receivable $30,000
Debit Interest Receivable $120,000
Credit Interest Revenue $120,000
Thus, the Loan Receivable account's balance at December 31 each year varies only when using the fair value option.
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Price index rate definition
Answer:
the price of a weighted average market basket of consumer goods and services purchased by households
Explanation:
For the strategy that you selected, develop an appropriate marketing mix (for example, what products should they offer, at what quality, with what ingredient choices, and so on). You should use the 4Ps to guide your development (but ensure that your marketing mix will effectively deliver the proposed strategy).
If the selected marketing strategy is to increase purchase desire and reach a greater number of consumers, the appropriate marketing mix is one aligned with the business niche, the company's values and its target audience.
The 4Ps of the marketing mix are:
Product.Price.Place.Promotion.Assuming the business is a University Cafeteria, a marketing mix can be developed to increase sales like this:
Product:It must add value and satisfy customer needs. If the potential customer is university students, the product offered may be healthy and quick snacks and meals.
Price:The pricing strategy must enable business management and forecast the profit margin, so it is necessary to analyze production costs, labor, added and market value.
As the target audience is young people without much purchasing power, the price must be low and competitive.
Place:The place where the customer will find the product is essential in the strategy of a business, so a cafeteria located inside the university campus is a competitive advantage for a business.
Promotion:A cafeteria offers non-durable products with high turnover and consumption, so the ideal promotional strategy to attract young people is to advertise on social media, gain loyalty through discount coupons and promotional combos.
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What do most companies do when they look to provide an offering to global markets?
Your
1) inform their competitors of their move to a global market
You do
2) send a memo to their internal employees
one op
3) adjust the offering to meet the needs of various other buyers around the globe
4) hold a press conference to answer media questions about selling the offering globally.
Making an adjustment to the offerings to meet the needs of various other buyers around the globe is done by most of the companies when they look to provide an offering to global markets. Therefore, the option 3 holds true.
What is the significance of global markets?Global markets can be referred to or considered as the relevant market for a business organization or a firm that deals in products or services such that their consumption is at a global level, and two or more countries or continents at large.
When companies require access to the global markets for expansion, they have to keep in mind the needs and demands of different kinds of buyers around the globe too, so that they have an opportunity to attract customers around the globe.
Therefore, the option 3 holds true and states regarding the significance of global markets.
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How would you convince your investor audience about the merits of your investment idea? ( give some decisions)
The common stock of A.G. Tailor has a required return of 16 %. The latest press release stated that last year's dividend (D0) was $0.90 per share and that future dividends will increase by 15% for the following 3 years. After year 3, the dividend growth rate will be 3% indefinitely. What is one share of this stock worth to you today
The worth of this share today is $9.61
The two-stage dividend growth model would be used to determine the value of the stock today. There are two stages in this model. In the first stage, there is a high rate of growth. In the second stage, high growth rate falls to a steady growth rate.
Stage 1 of growth
dividend in Y1 = 0.90 x 1.15 = 1.035
dividend in Y2 = 0.90 x 1.15^2 = 1.19
dividend in Y3 = 0.90 x 1.15^3 = 1.37
Stage 2 of growth
Y3 = (3.91 X 1.03) / (0.16 - 0.03) = 10.85
Find the present value of these cash flows
(1.035 / 1.16) + (1.19/ 1.16²) + (1.37 / 1.16³) + (10.85/1.16³) = $9.61
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Blossom Company expects to have a cash balance of $78,200 on January 1, 2022. These are the relevant monthly budget data for the first two months of 2022
1. Collections from customers: January $120,700, February $248,200.
2. Payments to suppliers: January $68,000, February $127,500.
3. Wages: January $51,000, February $68,000. Wages are paid in the month they are incurred.
4. Administrative expenses: January $35,700, February $40,800. These costs include depreciation of $1,700 per month. All other costs are paid as 4. incurred.
5. Selling expenses: January $25,500, February $34,000. These costs are exclusive of depreciation. They are paid as incurred.
6. Sales of short-term investments in January are expected to realize $20,400 in cash. Blossom Company has a line of credit at a local bank that enables it to borrow up to $42,500. The company wants to maintain a minimum monthly cash balance of $34,000.
Prepare a cash budget for January and February.
Answer:
Blossom Company expects to have a cash balance of $78,200 on January 1, 2022. These are the relevant monthly budget data for the first two months of 2022 Collections from customers: January $120,700, February $248,200. 1. Payments to suppliers: January $68,000, February $127,500. 2. Wages: January $51,000, February $68,000. Wages are paid in the month they are incurred. 3. Administrative expenses: January $35,700, February $40,800. These costs include depreciation of $1,700 per month. All other costs are paid as 4. incurred. Selling expenses: January $25,500, February $34,000. These costs are exclusive of depreciation. They are paid as incurred. 5. Sales of short-term investments in January are expected to realize $20,400 in cash. Blossom Company has a line of credit at a local bank that enables it to borrow up to $42,500. The company wants to maintain a minimum monthly cash balance of $34,000. 6. Prepare a cash budget for January and February. (List items that increase cash balance first.)
BLOSSOM COMPANY Cash Budget January February $ $ tA TA
$ $
Explanation:
Two types of multitasking are:
O Competitive tasking and complex tasking
O Task switching and dual tasking
O Task switching and competitive tasking
In a developing country, two alternatives are under consideration for delivering water fiom a mountainous area to an arid area in the country's southern region. A coated heavy- gauge plastie pipeline can be installed, with pumps spaced appropriately along the pipeline. Alternatively, canal can be built; however, it will have greater water loss than the pipeline, due to evaporation and poaching along the canal route. To compensate for the water loss, the canal will have a greater carrying capacity than the pipeline. It is estimated it will cost $125 million to install the pipeline. Major replacements are planned every 15 years at the cost of $10 million. Pumping and other annual operating and maintenance costs are estimated to be $5 million. The canal will cost $200 million to construct; its annual operating and maintenance costs are anticipated to be S1 million. Major upgrades of the canal are anticipated every 10 years, at the cost of $5 million. Based on a 5 percent (5 %) MARR and an infinitely long planning horizon, which alternative has the lowest capitalized cost?
Answer:
a developing country, two alternatives are under consideration for delivering water fiom a mountainous area to an arid area in the country's southern region. A coated heavy- gauge plastie pipeline can be installed, with pumps spaced appropriately along the pipeline. Alternatively, canal can be built; however, it will have greater water loss than the pipeline, due to evaporation and poaching along the canal route. To compensate for the water loss, the canal will have a greater carrying capacity than the pipeline. It is estimated it will cost $125 million to install the pipeline. Major replacements are planned every 15 years at the cost of $10 million. Pumping and other annual operating and maintenance costs are estimated to be $5 million. The canal will cost $200 million to construct; its annual operating and maintenance costs are anticipated to be S1 million. Major upgrades of the canal are anticipated every 10 years, at the cost of $5 million. Based on a 5 percent (5 %) MARR and an infinitely long planning horizon, which alternative has the lowest capitalized cost?Rothbart Manufacturing agrees to manufacture bumper cars for 12 Banners Amusement Parks. Under the terms of the contract, 12 Banners will pay Rothbart a total of $63,000, and 12 Banners can cancel the contract if it so chooses but must pay Rothbart for work completed. Rothbart believes that, if 12 Banners cancelled the contract, Rothbart could sell the bumper cars to another amusement park and still make a profit. The manufacturing contract is expected to last six months, and as of December 31, 2021, the job is 80% complete. How much revenue should Rothbart recognize in 2021 for this contract
The revenue that Rothbart Manufacturing should recognize in 2021 for the contract is $50,400.
Data and Calculations:
Contract value = $63,000
Contract period = 6 months
Percentage of contract on December 31, 2021 = 80%
Revenue to be recognized for 2021 = $50,400 ($63,000 x 80%)Thus, based on the contract terms that 12 Banners could cancel the manufacturing contract, and pay based on the percentage of work completed, the revenue that Rothbart Manufacturing should recognize for 2021 is $50,400.
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You don’t have to notify employees that a lockout/tagout is about to begin.
True
False
False. Employees must be notified by the supervisor about the beginning of a lockout/tagout procedure.
Lockout and tagout are work procedures that ensure that safety is maintained for employees, especially during equipment repairs or maintenance.Lockout involves ensuring that the operation of a machine or process is in a safe mode by isolating energy from the system.Tagout is a labeling that ensures that warnings are issued to employees during a lockout so that a machine or process is not re-energized until the repair or maintenance is complete.
Thus, it is FALSE that employees will not be notified that a lockout/tagout is about to commence.
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On January 1, 2020, QuickPort Company acquired 90 percent of the outstanding voting stock of
NetSpeed, Inc., for $810,000 in cash and stock options. At the acquisition date, NetSpeed had
common stock of $800,000 and Retained Earnings of $40,000. The acquisition-date fair value of
the 10 percent noncontrolling interest was $90,000. QuickPort attributed the $60,000 excess of
NetSpeed's fair value over book value to a database with a five-year remaining life.
During the next two years, NetSpeed reported the following:
Net Income
Dividends Declared
2020
2021
$ 80,000
115,000
$8,000
8,000
On July 1, 2020, QuickPort sold communication equipment to NetSpeed for $42,000. The
equipment originally cost $48,000 and had accumulated depreciation of $9,000 and an estimated
remaining life of three years at the date of the intra-entity transfer.
a. Compute the equity method balance in QuickPort's Investment in NetSpeed, Inc., account as of
December 31, 2021.
b. Prepare the worksheet adjustments for the December 31, 2021, consolidation of QuickPort and
NetSpeed.
a) If on January 1, 2020, QuickPort Company acquired 90 percent of the outstanding voting stock of NetSpeed, Inc., the equity method balance in QuickPort's Investment in NetSpeed, Inc., account as of December 31, 2021 will be:
Investment Account:
Consideration paid (fair value) $810,000
Net Income for 2020 $80,000
Database distribution ($60,000/5) ($12,000)
Netspeed's adjusted income $68,000
($80,000-$12,000)
Quickport ownership percentage 90%
(100%-10%)
Quickport share of net income $61,200
(90%×$68,000)
Gain on equipment transfer $3,000
[$42,000-($48,000-$9,000)
Depreciation adjustment (6 Months) $500
[($3,000/3year)/2]
Equity in earnings of Netspeed $58,700
($61,200-$3,000+$500)
Quickport share of Netspeed's dividends ($7,200)
(90% ×$8,000)
Balance 12/31/2020 $861,500
($810,000+$58,700-$7,200)
Netspeed's reported net income for 2021 $115,000
Database amortization ($12,000)
($60,000/5)
Netspeed's adjusted 2021 net income $103,000
Quickport's ownership percentage 90%
(100%-10%)
Quickpoet's share of Net speed net income $92,700
(90%×$103,000)
Depreciation adjustment $500
[($3,000/3year)/2]
Equity in earnings of Netspeed company 2021 $93,200
($92,700+$500)
Quickport's share of Netspeed's dividend ($7,200)
(90% ×$8,000)
Balance 12/31/2021 $947,500
($861,500+$93,200-$7,200)
b. Preparation of the worksheet adjustments for the December 31, 2021, consolidation of QuickPort and NetSpeed.
1. Dr Equipment $6,000
($48,000 - $42,000)
Cr Investment in Netspeed $2,500
($3,000-$500)
Accumulated depreciation $8,500
($6,000+$2,500)
2. Dr Common stock-Netspeed $800,000
Dr Retained eanings-Netspeed $114,000
[$42,000+($80,000-$8,000)]
Cr Investment in Netspeed $822,600
[($800,000+$114,000)×90%]
Cr Noncontrolling interest $91,400
[($800,000+$114,000)×10%]
3. Dr Database $36,000
($48,000-$12,000)
Cr Investment in Netspeed $32,400
($36,000×90%)
Cr Noncontrolling interest $3,600
($36,000×10%)
4. Dr Equity in earnings of Netspeed $93,200
Cr Investment in Netspeed $93,200
5. Dr Investment in Netspeed $7,200
Dividends declared $7,200
(90%×$8,000)
6. Dr Amortization expense $12,000
Cr Database $12,000
($60,000/5)
7. Dr Accumulated depreciation $1,000
Cr Depreciation expense $1,000
($3,000/3 years)
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