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Clark Co., a U.S. corporation, sold inventory on December 1, 2021, with payment of 12,000 British pounds to be received in sixty days. The pertinent exchange rates were as follows:             Dec. 1 Spot rate: $ 1.831   Dec. 31 Spot rate: $ 1.976   Jan. 30 Spot rate: $ 1.768     What amount of foreign exchange gain or loss should be recorded on January 30?                         A)    $2,496 gain.                    B)    $2,496 loss.            C)    $0.            D)    $1,740 loss.            E)    $1,740 gain.

Some people point to the US current account deficit. But most people do not understand. You have been asked to develop an essay explaining IF current account deficits are bad. In your answer, be sure you FULLY explain:  what the current account captures, what it means to have a current account deficit and what is likely causing it, the current account’s role in the balance of payments, how the accounts connect to trade, AND the connection between the current account and the capital account…how and why are they related. Make sure that you actually ANSWER the question that was asked. Expected length is 1-1.25 pages, single spaced, with good content. Be thorough and detailed, illustrating an understanding of these concepts.  You will be judged on the depth, accuracy, and persuasiveness of your explanation.  *This is a bit open-ended and you need to put some structure in place. **Expected length is about 1-1.25 pages (equivalent), single-spaced, where large headers, etc. do not contribute to length. I don’t think you can do a good job with an essay that is much shorter.  ***Note that a few sentences is not sufficient to answer this question and will not earn you an acceptable score. ****Be detailed and be thorough. *****Content is the most important contributor to your grade. But writing quality counts too. I do not expect perfection from a timed essay. But I do expect that your work is proofread and major grammar errors and spelling errors are addressed.  SPEND A FEW MINUTES EDITING YOUR WORK BEFORE SUBMITTING.  

A 67-year-old lawyer comes to your clinic for an annual examination. He denies any history of eye trauma. He denies any visual changes. You inspect his eyes and find a triangular thickening of the bulbar conjunctiva across the outer surface of the cornea. He has a normal pupillary reaction to light and accommodation. Based on this description, what is the most likely diagnosis?

According to GAAP regarding amortization of goodwill, which of the following statements is true?

A company has been using the equity method to account for its investment. The company sells shares and does not continue to have significant influence. Which of the following statements is true?

On January 4, 2021, Mason Co. purchased 40,000 shares (40%) of the common stock of Hefly Corp., paying $560,000. At that time, the book value and fair value of Hefly’s net assets was $1,400,000. The investment gave Mason the ability to exercise significant influence over the operations of Hefly. During 2021, Hefly reported income of $150,000 and paid dividends of $40,000. On January 2, 2022, Mason sold 10,000 shares for $150,000.What is the appropriate journal entry to record the sale of the 10,000 shares?           A) Cash 150,000     Investment in Hefly   150,000 B) Cash 150,000     Investment in Hefly   130,000   Gain on sale of investment   20,000 C) Cash 150,000     Loss on sale of investment 1,000     Investment in Hefly   151,000 D) Cash 150,000     Investment in Hefly   149,000   Gain on sale of investment   1,000 E) Cash 150,000     Loss on sale of investment 10,000     Investment in Hefly   160,000                           A)    A Above             B)    B Above            C)    C Above            D)    D Above            E)    E Above

Most lesions of the penis are non-tender and painless. Which of the following conditions begins as a tender painful lesion?

Reeder Corp. acquired one hundred percent of O’Neill Inc. on January 1, 2019, at a price in excess of the subsidiary’s fair value. On that date, Reeder’s equipment (ten-year life) had a book value of $380,000 but a fair value of $460,000. O’Neill had equipment (ten-year life) with a book value of $240,000 and a fair value of $370,000. Reeder used the partial equity method to record its investment in O’Neill. On December 31, 2021, Reeder had equipment with a book value of $270,000 and a fair value of $400,000. O’Neill had equipment with a book value of $180,000 and a fair value of $300,000. What is the consolidated balance for the Equipment account as of December 31, 2021?

When you ask a patient to walk a straight line  placing heel to toe, you are assessing?

Watkins, Inc. acquires all of the outstanding stock of Glen Corporation on January 1, 2020. At that date, Glen owns only three assets and has no liabilities:     Book Value Fair Value Land $ 40,000   $ 50,000   Equipment (10-year life)   80,000     75,000   Building (20-year life)   200,000     300,000     If Watkins pays $450,000 in cash for Glen, what acquisition-date fair value allocation, net of amortization, should be attributed to the subsidiary’s Equipment in consolidation at December 31, 2022?                         A)    $(5,000).             B)    $80,000.            C)    $75,000.            D)    $73,500.            E)    $(3,500).