On january 2 of the current year, otto co. purchased 40% of penn co.’s outstanding common stock. the carrying amount of penn’s depreciable assets was $1,000,000 on january 2. penn’s depreciable assets had an original useful life of 10 years, and a remaining useful life of five years. otto recognized $8,000 amortization for the current year ending december 31 related to its investment in penn due to the excess of fair value over book value on these assets. what was the fair value of penn's depreciable assets on january 2 of the current year?

Fanning books buys books and magazines directly from publishers and distributes them to grocery stores. the wholesaler expects to purchase the following inventory: april may june required purchases (on account) $ 111,000 $ 131,000 $ 143,000 fanning books accountant prepared the following schedule of cash payments for inventory purchases. fanning books suppliers require that 85 percent of purchases on account be paid in the month of purchase; the remaining 15 percent are paid in the month following the month of purchase. required complete the schedule of cash payments for inventory purchases by filling in the missing amounts. determine the amount of accounts payable the company will report on its pro forma balance sheet at the end of the second quarter.

The era of venture capitalists doling out large sums of money to startups is a. just beginning b. on the rise c. over d. fading

The sarbanes-oxley act was passed to question 6 options: prevent fraud at public companies. replace all of the old accounting procedures with new ones. improve the accuracy of the company's financial reporting. both a and c