On december 31, planet company acquired 80% of the voting common stock of star company by issuing 100,000 shares of its own common stock (fair value $8/share). in the acquisition, planet paid legal fees in the amount of $15,000 and paid sec registration fees of $10,000. the book value of star on december 31 was $700,000. star's only balance sheet item with a fair value different from book value was a building. the building had a book value of $100,000 and a fair value of $150,000. in planet's december 31 consolidating work paper elimination entry, what part of star's stockholders' equity is eliminated?

At the end of the year, blossom co. has pretax financial income of $561,000. included in the $561,000 is $73,000 interest income on municipal bonds, $25,000 fine for dumping hazardous waste, and depreciation of $64,400. depreciation for tax purposes is $48,300. compute income taxes payable, assuming the tax rate is 30% for all periods.

T-comm makes a variety of products. it is organized in two divisions, north and south. the managers for each division are paid, in part, based on the financial performance of their divisions. the south division normally sells to outside customers but, on occasion, also sells to the north division. when it does, corporate policy states that the price must be cost plus 20 percent to ensure a "fair" return to the selling division. south received an order from north for 300 units. south's planned output for the year had been 1,200 units before north's order. south's capacity is 1,500 units per year. the costs for producing those 1,200 units follow

Brenda wants a new car that will be dependable transportation and look good. she wants to satisfy both functional and psychological needs. true or false