Python acquires $80\%of$ the voting stock $of$ Slither $on$ January $1,2024atan$ acquisition cost $of$ $$6,000.$ The fair value $of$ the noncontrolling interest $is$ $$1,000.$ Slither's balance sheet $at$ the date $of$

acquisition $isas$ follows:

$On$ the consolidation working paper $at$ January $1,2024,$ what $is$ the credit $to$ noncontrolling interest $in$ Slither $in$ eliminating entry $(E)?$

Select one:

$a.$ $$380$

$b.$ $$300$

$c.$ $$1,000$

$d.$ $$0$ A company pays $$50,000in$ cash and stock $to$ acquire $65\%of$ the voting stock $of$ another company. The fair value $of$ the $35\%$ noncontrolling interest $in$ the acquired company $is$ $$12,000.$ The book value

$of$ the acquired company $is$ $$25,000.At$ the date $of$ acquisition, the acquired company's plant assets are overvalued $by$ $$6,000$ and $it$ has previously unreported identifiable intangible assets valued $at$

$$10,000.$

What $is$ the total amount $of$ goodwill recognized for this acquisition?

Select one:

$a.$ $$11,000$

$b.$ $$33,000$

$c.$ $$21,000$

$d.$ $$37,000$ A parent sold land costing $$400,000to$ its subsidiary for $$450,000in$ a prior year. The subsidiary still holds the land $at$ the end $of$ the current year. $On$ a working paper prepared $to$ consolidate the

financial statements $of$ the parent and subsidiary $at$ the end $of$ the current year, the eliminating entry connected with this land includes $a$ $$50,000$ credit $to$:

Select one:

$a.$ Investment $in$ subsidiary

$b.$ Beginning retained earnings $of$ the subsidiary

$c.$ Gain $on$ sale $of$ land

$d.$ Land A parent sells merchandise $to$ its subsidiary $at$ a markup $of20\%oncost.In$ the current year, the subsidiary had $$120,000in$ merchandise purchased from the parent $in$ its beginning inventory. During

the current year, the subsidiary purchased $$600,000in$ merchandise from the parent, and sold merchandise purchased from the parent $to$ outside customers for $$900,000.$ Atyear$-$end, the subsidiary

has $$192,000in$ merchandise purchased from the parent $in$ its ending inventory.

What $is$ consolidated sales revenue for the year?

Select one: $$

$a.$ $$600,000$

$b.$ $$900,000$

$c.$ $$1,500,000$

$d.$ $$888,000$