As a long-term investment, painters' equipment company purchased 20% of amc supplies inc.'s 400,000 shares for $480,000 at the beginning of the fiscal year of both companies. on the purchase date, the fair value and book value of amc’s net assets were equal. during the year, amc earned net income of $250,000 and distributed cash dividends of 25 cents per share. at year-end, the fair value of the shares is $505,000. required:
1. assume no significant influence was acquired. prepare the appropriate journal entries from the
purchase through the end of the year.
2. assume significant influence was acquired. prepare the appropriate journal entries from the purchase
through the end of the year.

Budget in this final week, you will develop a proposed budget of $150,000 for the first year of the program and complete the final concept paper for the proposed program due for senior management review. the budget should identify the program's anticipated expenses for the year ahead. budget line items should be consistent with the proposed program and staffing plan. using the readings for the week, the south university online library, and the internet, complete the following tasks: create a proposed budget of $150,000 for the first year of the proposed program including the cost for personnel, supplies, education materials, marketing costs, and so on in a microsoft excel spreadsheet. you may transfer your budget to your report. justify the cost for each item of the proposed budget in a budget narrative.

Rachel died in 2014 and her executor is finalizing her estate tax return. the executor has determined that rachel’s adjusted gross estate is $10,120,000 and that her estate is entitled to a charitable deduction in the amount of $500,000. using 2014 rates, calculate the estate tax liability for rachel’s estate.

Which of the following statements are false regarding activity-based costing? non-manufacturing costs are important to include when calculating the cost of each product. costs are allocated based on a pre-determined overhead rate. transitioning from traditional costing methods to activity-based costing can be complicated and costly. activity-based costing follows the same basic calculation methods as traditional costing approaches. none of the above