1. Sheetz Company is purchased by Pulsar Corporation, at an acquisition cost that is $25,000,000 greater than the fair value of the identifiable net assets acquired. One of the assets acquired is a building, originally valued at $15,000,000 at the date of the purchase. Six months after the acquisition, it is discovered that the building was actually worth $7,000,000 at the date of acquisition. What entry is made to reflect this new information? a. Dr. goodwill; Cr. building for $8,000,000 b. Dr. loss on building; Cr. building for $8,000,000 c. Dr. retained earnings; Cr. building for $8,000,000 d. No entry is made

Peninsula products has just applied for a loan at your bank. when reviewing peninsula's books for the year that just ended, you notice that the firm uses the fair value option for its bonds payable. you also see that the firm recorded a $55,000 debit in its bonds payable account and a $55,000 credit in its unrealized holding gain or loss"income account. over that same period, interest rates decreased by about 0.5 percent. how should this information affect the bank's decision as to whether to grant peninsula a loan? a : the bank should strongly consider giving a loan to peninsula because the changes in firm's bonds payable and unrealized holding gain or loss"income accounts suggest that peninsula has seen an increase in its credit rating over the past year. b : the bank should put little emphasis on the changes in peninsula's bonds payable and unrealized holding gain or loss"income accounts because these changes are likely the result of the rise in interest rates. c : the bank should hesitate before giving a loan to peninsula because the changes in firm's bonds payable and unrealized holding gain or loss"income accounts suggest that peninsula has seen a decline in its credit rating over the past year. d : the bank should put little emphasis on the changes in peninsula's bonds payable and unrealized holding gain or loss"income accounts because these changes are likely unrelated to either interest rates or the firm's credit rating.

Who is better at multi-tasking? in business, employees are often asked to perform a complex task when their atten-tion is divided (i.e., multi-tasking). human factors (may 2014) published a study designed to determine whether video game players are better than non–video game play-ers at multi-tasking. each in a sample of 60 college stu-dents was classified as a video game player or a non-player. participants entered a street crossing simulator and were asked to cross a busy street at an unsigned intersec-tion. the simulator was designed to have cars traveling at various high rates of speed in both directions. during the crossing, the students also performed a memory task as a distraction. two variables were measured for each student: (1) a street crossing performance score (measured out of 100 points) and (2) a memory task score (measured out of 20 points). the researchers found no differences in either the street crossing performance or memory task score of video game players and non-gamers. “these results,” say the researchers, “suggest that action video game players [and non-gamers] are equally susceptible to the costs of dividing attention in a complex task”

On june 1, 2017, blossom company was started with an initial investment in the company of $22,360 cash. here are the assets, liabilities, and common stock of the company at june 30, 2017, and the revenues and expenses for the month of june, its first month of operations: cash $4,960 notes payable $12,720 accounts receivable 4,340 accounts payable 840 service revenue 7,860 supplies expense 1,100 supplies 2,300 maintenance and repairs expense 700 advertising expense 400 utilities expense 200 equipment 26,360 salaries and wages expense 1,760 common stock 22,360 in june, the company issued no additional stock but paid dividends of $1,660. prepare an income statement for the month of june.