On January 3, 2019, Austin Corp. purchased 25% of the voting common stock of Gainsville Co., paying $2,000,000. Austin decided to use the equity method to account for this investment. At the time of the investment, Gainsville's total stockholders' equity was $6,000,000. Austin gathered the following information about Gainsville's assets and liabilities: Picture For all other assets and liabilities, book value and fair market value were equal. Any excess of cost over fair value was attributed to goodwill, which has not been impaired. For 2019, what is the total amount of excess amortization for Austin's 25% investment in Gainsville

On february 3, smart company sold merchandise in the amount of $5,800 to truman company, with credit terms of 2/10, n/30. the cost of the items sold is $4,000. smart uses the perpetual inventory system and the gross method. truman pays the invoice on february 8, and takes the appropriate discount. the journal entry that smart makes on february 8 is:

On july 1, oura corp. made a sale of $ 450,000 to stratus, inc. on account. terms of the sale were 2/10, n/30. stratus makes payment on july 9. oura uses the net method when accounting for sales discounts. ignore cost of goods sold and the reduction of inventory. a. prepare all oura's journal entries. b. what net sales does oura report?

About 20 years ago, sturdy light, inc., produced a sturdy, lightweight backpack in a market that was rapidly growing. sturdy light became a leader in this market. eventually, the backpack market reached the maturity stage and slowed down. however, by this time, sturdy light had developed a strong brand name and continued to steadily lead the market. which of the following describes this scenario? a. sturdy light was a star that developed into a cash cow. b. sturdy light was a question mark that developed into a star. c. sturdy light was a dog that developed into a question mark. d. sturdy light was a cash cow that developed into a star.