‏‎On January 1, 2019, Palm Corporation acquired 70 percent of Smart Company's common stock for $210,000 cash, when the book value of Smart Company was $260,000. At the date of the business combination, the book values of Star's net assets and liabilities approximated fair value except for inventory, which had a book value of $140,000 and fair value of $145,000, and equipment, which had a book value of $200,000 and a fair value of $220,000. During 2019 50% of the goodwill was impaired. What is the value of goodwill on December 31, 2019? Select one: a. $15,000 b. $5,250 c. $0‎‏​

As related to a company completing the purchase to pay process, is there an accounting journal entry "behind the scenes" when xyz company pays for the goods within 10 days of the invoice (gross method is used for discounts and terms are 2/10 net 30) that updates the general ledger?

Robert black, regional manager for ford in texas and oklahoma, faced a dilemma. the ford f-150 pickup truck was the best-selling pickup ever, yet ford's headquarters in detroit had decided to introduce a completely redesigned f-150. how could mr. black sell both trucks at the same time? he still had "old" f-150s in stock. in his advertising, mr. black referred to the new f-150s as follows: "not a better f-150. just the only truck good enough to be the next f-150." this statement represents ford's of the new f-150.

James is an employee in the widget inspection department of xyz systems, a government contractor. james was part of a 3-person inspection team that found a particular batch of widgets did not meet the exacting requirements of the u. s. government. in order to meet the tight deadline and avoid penalties under the contract, james' boss demanded that the batch of widgets be sent in fulfillment of the government contract. when james found out, he went to the vice president of the company and reported the situation. james was demoted by his boss, and no longer works on government projects. james has a: