Puff co. acquired 40% of straw, inc.'s voting common stock on january 2, 2001 for $400,000. the carrying amount of straw's net assets at the purchase date totaled $900,000. fair values equaled carrying amounts for all items except equipment, for which fair values exceeded carrying amounts by $100,000. the equipment has a five-year life. during 2001, straw reported net income of $150,000. what amount of income from this investment should puff report in its 2001 income statement?

What is the advantage of developing criteria for assessing the effectiveness of business products and processes? a. assessment criteria are answers. b.assessment criteria are inexpensive. c.assessment criteria provide you with a list of relevant things to measure. d.assessment criteria provide you with a list of people to contact to learn more about process mentoring.

The following items could appear on a bank reconciliation: a. outstanding checks, $670. b. deposits in transit, $1,500. c. nsf check from customer, no. 548, for $175. d. bank collection of note receivable of $800, and interest of $80. e. interest earned on bank balance, $20. f. service charge, $10. g. the business credited cash for $200. the correct amount was $2,000. h. the bank incorrectly decreased the business's by $350 for a check written by another business. classify each item as (1) an addition to the book balance, (2) a subtraction from the book balance, (3) an addition to the bank balance, or (4) a subtraction from the bank balance.

Discretionary spending: $450 per month new car insurance: $175 per month gas: $100 per month used car insurance: $125 per month gas: $100 per month according to your research, you need to budgetfor insurance and gasoline if you choose to buy or lease the new car. if you choose to buy the used car, you need to budget for insurance and gas.