LECTURAIX. La familia de Pablo. The following paragraphs des…
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LECTURAIX. Lа fаmiliа de Pablо. The fоllоwing paragraphs describe Pablo’s family. Read it carefully before answering the questions, then type the LETTER of your answer in the space provided. (7 pts. = 7 X 1) Hola. Soy Pablo y soy de Colombia. En general las familias colombianas tradicionales son grandes y tienen muchos hijos. Sin embargo (nevertheless) mi familia es pequeña y muy interesante. Tengo dos hermanos y una hermana. Mis hermanos son Gabriel y Juan y mi hermana se llama Rita. A Rita le gusta estudiar con sus amigas y practicar deportes en la universidad. Ella trabaja en la mañana y va a la escuela en la tarde. A ella le gusta la historia pero no le gusta el arte. En la escuela Rita toma clases de italiano, español y matemáticas. A mis hermanos les gusta cantar y practicar deportes. Mi padre y mi madre siempre están de vacaciones. A mí me gusta escribir en la computadora y escuchar música rock. A mi familia y a mí nos gusta comer en el restaurante mexicano La Huerta. El fin de semana mi familia y yo visitamos a los abuelos. 1. ¿De dónde es Pablo? [BLANK-1].A. de MéxicoB. de ColombiaC. de Estados Unidos D. de China E. de Italia. 2. En general las familias colombianas tradicionales [BLANK-2].A. son pequeñas B. son grandes C. tienen muchos hijos D. b y c E. son cómicas 3. La familia de Pablo es [BLANK-3].A. bonitaB. pequeñaC. sociableD. perezosaE. aburrida 4. Pablo dice que su hermana Rita [BLANK-4].A. va a la escuela en la tarde B. le gusta el arte C. tiene dos hijosD. no estudia E. estudia ciencias 5. ¿Qué les gusta hacer a los hermanos de Pablo? [BLANK-5].A. estudiar mucho B. cantar y practicar deportes C. hablar italiano D. tomar clases E. escuchar música 6. A Pablo y a su familia les gusta [BLANK-6].A. comer en el restaurante italiano B. visitar a los amigos C. comer comida italiana D. la primavera E. comer comida mexicana 7. ¿Qué hacen Pablo y su familia los fines de semana? [BLANK-7].A. van a la escuelaB. comen en la universidadC. visitan a los abuelosD. practican deportesE. estudian español
Which structure is respоnsible fоr mаking cells "leаk prоof"
Prоblem 1: Incоme Tаx Accоunting аt Consolidаted Entities Piston Company acquired control of Shaft Corporation on January 1, 2023 by acquiring 75% of the outstanding voting common shares of Shaft. You have just completed the consolidation/elimination worksheet for the company except for the income tax accrual. Please see the worksheet provided in the EXCEL spreadsheet. The following is additional information associated with the Piston Company and Subsidiary Year-End Financial Reporting Process. Piston pays an average effective income tax rate of 30%. There was a total of $2,000,000 additional basis associated with the acquisition of Shaft Corp. The additional basis was allocated $1,000,000 to a customer base with an estimated 10-year useful life for financial accounting purposes and tax purposes and $1,000,000 to Goodwill. Goodwill is tested for impairment for financial accounting purposes and is not considered impaired. Goodwill is being amortized over 20 years for tax purposes. The Piston accrual of income from Shaft Corp. in 2023 (the previous year) totaled $300,000. Shaft Corp. paid dividends totaling $100,000 in 2023 (the previous year). Of this total, the parent company received $75,000. Piston sold inventory to Shaft in 2023 totaling $500,000. The cost of this inventory to Piston was $300,000. At the end of 2023, 90% of these units were sold to customers outside of the consolidated group. Piston sold inventory to Shaft in 2024 totaling $800,000. The cost of this inventory to Piston was $550,000. At the end of 2024, 90% of these units had been sold to customers outside of the consolidated group. Piston and Shaft have no book/tax differences other than those given rise to by virtue of being a consolidated group. Exam3_StudentData_F25_Piston.xlsx Required: Will the two companies file a combined tax return or separate tax returns and why? Determine the balance for the deferred tax asset account that should be reported for Piston Company and Subsidiary at 12/31/24. Determine the balance for the deferred tax liability account that should be reported for Piston Company and Subsidiary at 12/31/24. Determine the amount of income taxes payable at 12/31/24 for Piston Company and for Shaft Company. Extra Credit: What C/E entry would be recorded on the worksheet related to income taxes? [Note: It is good practice to handle the requirements one at a time. Determine the appropriate balance in the deferred tax asset for the consolidated group. Next, determine the appropriate balance for the deferred tax liability. Then determine the appropriate balance in the income taxes payable account. The fourth requirement is to determine the resulting appropriate income tax expense amount. The points for this problem are associated with these requirements. The final requirement is to show the necessary consolidation/elimination entry given the above although that is an extra credit item. For simplicity purposes, these two affiliates do not have book/tax differences on their stand-alone financial statements. The only book/tax differences are those given rise to by virtue of the acquisition and control of the subsidiary. We studied three common such differences in our class.]
Stаck Right Cоrp. is а fоreign subsidiаry that applies IFRS fоr financial reporting purposes. You are completing the consolidation of Stack Right with the financial statements of the parent. You have already translated the amounts to U.S. dollars. You must now adjust the accounting so that the amounts reflect US GAAP-based accounting rules. Below are several transactions at Stack Right Corp. that may require adjustment from IFRS to US GAAP. Prepare any consolidation worksheet entry that is required for the 12/31/2024 financial statements to convert the transactions from the IFRS-based treatment in the subsidiary’s financial statements to the U.S. GAAP-based treatment. [Show your work for partial credit. If an answer requires calculations and related calculations and support is not provided – even a correct answer will be awarded only 75% of the points earned. 1. On December 31, 2024, Stack Right Corp. had an overdraft on one of its bank accounts in the amount of $50,000. Bank overdrafts are an integral part of the company’s cash management, with the bank account fluctuating from having a positive balance to being overdrawn periodically. 2. Stack Right acquired a building at the beginning of 2021 at a cost of $800,000. The building has an estimated useful life of 40 years and an estimated residual value of $400,000. It is depreciated on a straight-line basis. The company appropriately depreciated the building according to this schedule in 2021, 2022, and 2023. At the end of 2023 (beginning of 2024), the building was appraised and determined to have a fair value of $780,000. The estimated residual value remains at $400,000 and the remaining useful life is 37 years at 1/1/21. 3. Stack Right acquired a dump truck on January 1, 2022, at an original cost of $100,000. The truck has an overall estimated useful life of 10 years and no salvage value. The tires have a 4-year useful life with no salvage value. Here are the significant components of the truck: Component Cost Useful Life Salvage Value Truck $ 92,000 10 years $0 Tires $ 8,000 4 years $0 $100,000