On July 1 Plum Company paid 7500 cash for management servi.pdf

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On July 1 Plum Company paid $7,500 cash for management services to be performed over a two- year period. On July 1, Plum should record: Multiple Choice A debit to an expense and credit to a prepaid expense for $7,500. A debit to an expense and credit to Cash for $7,500. A debit to a prepaid expense and a credit to Cash for $7,500. A credit to a prepaid expense and a debit.

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Optimal foraging: Describe in your own words the optimal foraging model for the effect of search time on foraging preference. In our experiment, which tray type should be preferred and why? Which variables did we use to measure foraging preference? Community structure: How did you measure biodiversity? Explain the difference between species richness and species diversity. Methods Describe field methods and how you did data analysis Field Methods Data was collected from UNCGs Peabody Park bird feeder site #3. At this site, there were two bird feeder tables next to each other with two different types of seeds. The two different types of seeds consisted of seeds with no shell and seeds with a shell. The bird feeder that contained seeds with shells had a red rope twisted around its pole while the bird feeder that did not contain shells had green rope twisted around its pole. This was done to help differentiate the two. Half of our team focused on the bird feeder that contained shells and the other half focused on the bird feeder that did not contain shells. With our team keeping a good distance from the site, binoculars and a bird species identifier handbook was used to help identify the birds from a distance. A data census sheet that contained twenty-two different bird species found in the area was provided to record our data. We kept track of what type of bird species visited which table as well as for how long the bird was foraging on the table. A stopwatch was used to keep track of the seconds each bird foraged through the seeds. The type of bird and how many seconds it visited the site were taken note of. After 30 minutes data collection was complete. The class data was combined in a Microsoft Excel spreadsheet and further analysis was made.All data was recorded and made into tables and graphs in Microsoft Excel. To begin data analysis, Excel was used to make various tables which were then produced into graphs. First, a master table recording the number of visitations by every observed species from each tray type for each site was made and a total was generated at the end of each column. This information was used to create the average number of bird visitations in each tray type by creating a bar graph in Excel (Figure I). The table was then sorted from largest to smallest to make graphs in the number of visitations to each tray type by species in each site (Figures III-V). For the average time in each tray type across site, another master table was made to record the average time that ex ch species spent on each tray type, which was then totaled to give the average total time birds spent in each tray at each site. A bar graph was created that contained the average time of all sites combined that all birds spent on each tray type (Figure II). Species Richness was calculated by counting the number of different species that visited each tray type in each site. For example, in Site 1, eight individual species visited the "no shells" tray. This .

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On July 1, 2020, Concord Ltd, borrowed $15,500 by signing a two-year, 4% note payable. The note is payable in two annual instalments of $8,218 on June 30 . The company records adjusting journal entries annually at year end on December 31. (a) Prepare an imtalment payment schedule for the term of the note. (Round answers to the nearest whole dollar, es. 5,255)Prepare an instalment payment schedule for the term of the note. (Round answers to the nearest whole dollor, e. 5.255..

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On July 1, 2021, Truman Company acquired a 70 percent interest in Atlanta Company in exchange for consideration of $759.850 in cash and equity securities. The remaining 30 percent of Atlanta's shares traded closely near an average price that totaled $325,650 both before and after Truman's acquisition. In reviewing its acquisition, Truman assigned a $138,000 fair value to a patent recently developed by Atlanta, even though it was not recorded within the financial records of the subsidiary. This patent is anticipated to have a remaining life of five years. The following financial information is available for these two companies for 2021. In addition, the subsidiary's income was earned uniformly throughout the year. The subsidiary declared dividends quarterly.a. What is the excess fair-value assigned to patent and goodwill? b. How did Truman allocate the goodwill from the acquisition across the controlling and noncontroling interests? c. How did Truman derive the investment in Atlanta account balance at the end of 2021 ? d. Prepare a worksheet to consolidate the financlal statements of these two companies as of December 31, 2021. At yeat-end, there were no intra-enity receivabies or payables.Prepare a worksheet to consolidate the financial statements or these two companies as of December 31,2021 . At year- end, there were no intra-entity receivab or payables. (For accounts- where multiple consolidation entries are required, combine alf debit entries into one amount and enter this amount in the debit color of the warksheet. Similarly, combine all credit entries into one arnount and enter this amount in the credit column of the worksheet. Input all amounts as posith values.?.

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On January 2, Year 4, Poplar Ltd. purchased 80% of the outstanding shares of Spruce Ltd. for $2, 070,000. At that date, Spruce had common shares of $500,000 and retained earnings of $1,320, 000 and accumulated depreciation of $670,000. Poplar acquired the Spruce shares to obtain control of mineral rights owned by Spruce. At the date of acquisition, these mineral rights were valued at $767,500, were not recognized on Spruce's separate-entity balance sheet, and had an useful life of 10 years. Except for the mineral rights, the carrying amount of the recorded assets and liabilities of Spruce were equal to their fair values. On December 31, Year 7, the trial balances of the two companies were as follows: Additional Information - The Year 7 net incomes of the two companies are as follows: - The mineral rights owned by Spruce have increased in value since the date of acquisition and were worth $931,300 at December 31, Year 7. - On January 2, Year 5, Poplar sold equipment to Spruce for $570,000. The equipment had a carrying amount of $456,000 at the time of the sale. The remaining useful life of the equipment was 5 years. - The Year 7 opening inventories of Poplar contained $507,000 of merchandise purchased from Spruce during Year 6. Spruce had recorded a gross profit of $202,800 on this merchandise. - During Year 7, Spruce's sales to Poplar totalled $1,007,000. These sales were made at a gross profit rate of 35% . - Poplar's ending inventory contains $307,000 of merchandise purchased from Spruce. - On January 2, Year 5, Poplar issued 8%, 7 year bonds with a face value of $500,000 for $521,000. Interest is paid annually on December 31. On January 2, Year 6, Spruce purchased one-half of this issue on the open market at a cost of $238,000. - Other expenses include depreciation expense. - Tax allocation will be at a rate of 40%. Required: (a) Prepare the following consolidated financial statements for Year 7: (i) Income statement (Leave no cells blank - be certain to enter "O" wherever required. Input all values as positive numbers.)(ii) Retained earnings statement (Input all values as positive numbers. Omit $ sign in your response.) (iii) Balance sheet (Leave no cells blank - be certain to enter "O" wherever required. Amounts to be deducted should be indicated with a minus sign.)(b) Calculate the December 31, Year 7, balance in the account Investment in Spruce if Poplar had used the equity method to account for its investment. (Omit $ sign in your response.) Balance, Dec. 31, Year 7 $ (c) This part of the question is not part of your Connect assignment..

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