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Question : 71. Goodwill is: a.  Amortized over the greater of its : 1255980

Accounting

 

 

71. Goodwill is:

a.  Amortized over the greater of its estimated life or forty years.

b.  Only recorded by the seller of a business.

c.  The value of a business as a whole, over and above the  value of its net identifiable assets.

d.  Recorded when created internally through advertising expense.

 

 

72. In accounting, goodwill

a.

May be recorded whenever a company achieves a level of net income that exceeds the industry average.

b.

Is amortized over its useful life.

c.

May be recorded when a company purchases another business.

d.

Must be expensed in the period it is recorded because benefits from goodwill are difficult to identify.             

 

 

73. In accounting, goodwill

a.

Is never recorded.

b.

May be recorded when a company’s level of net income exceeds the industry average.

c.

Must be expensed in the period when it is acquired.

d.

May be recorded when the company purchases another business.

 

 

74. The balance sheet of Cattleman’s Steakhouse shows assets of $86,400 and liabilities of $15,000. The fair value of the assets is $90,000 and the fair value of its liabilities is $15,000. Longhorn paid Cattleman’s $95,000 to acquire it.  Longhorn should record goodwill on this purchase of:

 

a.

$3,600.

b.

$5,000.

c.

$20,000.

d.

$23,600.

 

 

75. Northern purchased the entire business of Southern including all its assets and liabilities for $600,000. Below is information related to the two companies:

Northern

Southern

Fair value of assets

$1,050,000

$800,000

Fair value of liabilities

575,000

300,000

Reported assets

800,000

650,000

Reported liabilities

500,000

250,000

Net Income for the year

60,000

50,000

 

How much goodwill did Northern pay for acquiring Southern?

a.

$100,000.

b.

$300,000.

c.

$200,000.

d.

$150,000.

 

 

76. Lake Incorporated purchased all of the outstanding stock of Huron Company paying $850,000 cash. Lake assumed all of the liabilities. Book values and fair values of acquired assets and liabilities were:

 

Book Value

Fair Value

Current assets (net)

$130,000

$125,000

Property, plant, equip. (net)

600,000

750,000

Liabilities

175,000

175,000

              Lake would record goodwill of:

a.$ 0.

b.$150,000.

c.$345,000.

d.$850,000.

 

77. Which of the following subsequent expenditures would be capitalized?

a.

Ordinary repair.

b.

Costs that increase the service life of an asset.

c.

Routine maintenance.

d.

Both a. and c.

 

 

78. Which of the following subsequent expenditures would be capitalized?

a.

Ordinary repairs and maintenance.

b.

Additions.

c.

Improvements.

d.

Both b. and c.

 

 

79. The purchase of a new cooling system for $150,000 to upgrade an office building owned by the company would be accounted for as:

a.

Goodwill.

b.

An addition in the Buildings account.

c.

An expense in the period incurred.

d.

A patent.

 

 

80. Woods Company made an ordinary repair to a delivery truck at a cost of $500. Woods’ accountant debited the asset account, Equipment. Was this treatment an error, and if so, what will be the effect on Woods’ financial statements?

a.

No, the repair was accounted for correctly.

b.

Yes, the error overstated assets and net income.

c.

Yes, in the years following, net income will be overstated.

d.

Yes, the error understated net income.

 

 

 

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July 1, 2023
    

 

Instructions

Assignment 2: Style Sheets and Website Creation

For this assignment, you will create 2 external style sheets and a web page that describes a movie of your choice and write a 1–2 page summary report. You will experiment with linking the web page to the external style sheets and noting how the display of the page changes.

Tasks:

Use appropriate HTML tags and create 2 external style sheets and a web page using a text editor or an HTML editor.

Part I: Create 2 Style Sheets and a Web Page

  1. Using a text editor or an HTML editor (Adobe Dreamweaver), create the first external style sheet (name it "format1.css") and format it as follows:
    1. Assign the document background color white, document text color #000099, and document font family Arial, Helvetica, or Sans-serif.
    2. Create hyperlinks to make the background color gray (#CCCCCC).
    3. Configure the h1 selector to use the Times New Roman font with a red text color.
  2. Using a text editor or an HTML editor, create a second external style sheet (name it "format2.css") and format it as follows:
    1. Assign the document background color yellow and the text color green.
    2. Create hyperlinks that have a background color of white.
    3. Configure the h1 selector to use the Times New Roman font with a white background color and green text color.
  3. Using a text editor or an HTML editor, create a web page on your favorite movie that displays the movie name in an <h1> tag. In addition, include a description of the movie (in about a single paragraph) and a bulleted list of the main actors. Format the site as follows:
    1. Create the page that has a hyperlink to a website describing the movie.
    2. Create an e-mail link to yourself on the web page. This page should be associated with the "format1.css" file.
    3. Save the page as "moviecss1.html."
    4. Test your page in more than one browser. During the test, ensure that all HTML tags work properly. If you identify HTML tags that do not appear or display properly on a web browser, then consider changing the HTML tags to a compatible alternative.
    5. Modify the "moviecss1.html" page to link to the "format2.css" external style sheet instead of the "format1.css" file.
    6. Save the page as "moviecss2.html" and test it in a browser. During the test, ensure that all HTML tags work properly. If you identify HTML tags that do not appear or display properly on a web browser, then consider changing the HTML tags to a compatible alternative.

Notice how different the page looks!

Note: The web page should validate successfully using the W3C validator. The syntax should be error free and generate a website on multiple browsers.

Part II: Summary Report

Create a 1–2 page summary report that summarizes the changes made to the website for management. The summary report is typically created for management to present an overview of the changes that were made to the website in nontechnical terms.

Note: Your summary report should utilize at least three scholarly or professional sources (beyond your textbook). Your report should be written in a clear, concise, and organized manner; demonstrate ethical scholarship in accurate representation and attribution of sources (i.e., in APA format); and display accurate spelling, grammar, and punctuation.

Submission Details:

  • By the due date assigned, save your 2 external style sheets as M2_A2_LastName_FirstInitial_format1.css and M2_A2_LastName_FirstInitial_format2.css, your 2 web pages as M2_A2_LastName_FirstInitial_moviecss1.html and M2_A2_LastName_FirstInitial_moviecss2.html, and the summary report as M2_A2_LastName_FirstInitial.doc and submit them to the Submissions Area.

Assignment 2 Grading CriteriaMaximum PointsCreated the first external style sheet and formatted it as per the assignment instructions using text editor.24Created the second external style sheet and formatted it as per the assignment instructions using text editor.24Created a web page about a movie that displays the movie name as per the assignment instructions using a text editor or an HTML editor; validated the website using the W3C validator.24Submitted a summary report including the changes you made to the website for management.8Wrote in a clear, concise, and organized manner; demonstrated ethical scholarship in accurate representation and attribution of sources; displayed accurate spelling, grammar, and punctuation. Wrote all citations in APA format.20Total:100 

default image
July 1, 2023
    

 

Instructions

Assignment 2: Style Sheets and Website Creation

For this assignment, you will create 2 external style sheets and a web page that describes a movie of your choice and write a 1–2 page summary report. You will experiment with linking the web page to the external style sheets and noting how the display of the page changes.

Tasks:

Use appropriate HTML tags and create 2 external style sheets and a web page using a text editor or an HTML editor.

Part I: Create 2 Style Sheets and a Web Page

  1. Using a text editor or an HTML editor (Adobe Dreamweaver), create the first external style sheet (name it "format1.css") and format it as follows:
    1. Assign the document background color white, document text color #000099, and document font family Arial, Helvetica, or Sans-serif.
    2. Create hyperlinks to make the background color gray (#CCCCCC).
    3. Configure the h1 selector to use the Times New Roman font with a red text color.
  2. Using a text editor or an HTML editor, create a second external style sheet (name it "format2.css") and format it as follows:
    1. Assign the document background color yellow and the text color green.
    2. Create hyperlinks that have a background color of white.
    3. Configure the h1 selector to use the Times New Roman font with a white background color and green text color.
  3. Using a text editor or an HTML editor, create a web page on your favorite movie that displays the movie name in an <h1> tag. In addition, include a description of the movie (in about a single paragraph) and a bulleted list of the main actors. Format the site as follows:
    1. Create the page that has a hyperlink to a website describing the movie.
    2. Create an e-mail link to yourself on the web page. This page should be associated with the "format1.css" file.
    3. Save the page as "moviecss1.html."
    4. Test your page in more than one browser. During the test, ensure that all HTML tags work properly. If you identify HTML tags that do not appear or display properly on a web browser, then consider changing the HTML tags to a compatible alternative.
    5. Modify the "moviecss1.html" page to link to the "format2.css" external style sheet instead of the "format1.css" file.
    6. Save the page as "moviecss2.html" and test it in a browser. During the test, ensure that all HTML tags work properly. If you identify HTML tags that do not appear or display properly on a web browser, then consider changing the HTML tags to a compatible alternative.

Notice how different the page looks!

Note: The web page should validate successfully using the W3C validator. The syntax should be error free and generate a website on multiple browsers.

Part II: Summary Report

Create a 1–2 page summary report that summarizes the changes made to the website for management. The summary report is typically created for management to present an overview of the changes that were made to the website in nontechnical terms.

Note: Your summary report should utilize at least three scholarly or professional sources (beyond your textbook). Your report should be written in a clear, concise, and organized manner; demonstrate ethical scholarship in accurate representation and attribution of sources (i.e., in APA format); and display accurate spelling, grammar, and punctuation.

Submission Details:

  • By the due date assigned, save your 2 external style sheets as M2_A2_LastName_FirstInitial_format1.css and M2_A2_LastName_FirstInitial_format2.css, your 2 web pages as M2_A2_LastName_FirstInitial_moviecss1.html and M2_A2_LastName_FirstInitial_moviecss2.html, and the summary report as M2_A2_LastName_FirstInitial.doc and submit them to the Submissions Area.

Assignment 2 Grading CriteriaMaximum PointsCreated the first external style sheet and formatted it as per the assignment instructions using text editor.24Created the second external style sheet and formatted it as per the assignment instructions using text editor.24Created a web page about a movie that displays the movie name as per the assignment instructions using a text editor or an HTML editor; validated the website using the W3C validator.24Submitted a summary report including the changes you made to the website for management.8Wrote in a clear, concise, and organized manner; demonstrated ethical scholarship in accurate representation and attribution of sources; displayed accurate spelling, grammar, and punctuation. Wrote all citations in APA format.20Total:100 

default image
July 1, 2023
    

 

Instructions

Assignment 2: Style Sheets and Website Creation

For this assignment, you will create 2 external style sheets and a web page that describes a movie of your choice and write a 1–2 page summary report. You will experiment with linking the web page to the external style sheets and noting how the display of the page changes.

Tasks:

Use appropriate HTML tags and create 2 external style sheets and a web page using a text editor or an HTML editor.

Part I: Create 2 Style Sheets and a Web Page

  1. Using a text editor or an HTML editor (Adobe Dreamweaver), create the first external style sheet (name it "format1.css") and format it as follows:
    1. Assign the document background color white, document text color #000099, and document font family Arial, Helvetica, or Sans-serif.
    2. Create hyperlinks to make the background color gray (#CCCCCC).
    3. Configure the h1 selector to use the Times New Roman font with a red text color.
  2. Using a text editor or an HTML editor, create a second external style sheet (name it "format2.css") and format it as follows:
    1. Assign the document background color yellow and the text color green.
    2. Create hyperlinks that have a background color of white.
    3. Configure the h1 selector to use the Times New Roman font with a white background color and green text color.
  3. Using a text editor or an HTML editor, create a web page on your favorite movie that displays the movie name in an <h1> tag. In addition, include a description of the movie (in about a single paragraph) and a bulleted list of the main actors. Format the site as follows:
    1. Create the page that has a hyperlink to a website describing the movie.
    2. Create an e-mail link to yourself on the web page. This page should be associated with the "format1.css" file.
    3. Save the page as "moviecss1.html."
    4. Test your page in more than one browser. During the test, ensure that all HTML tags work properly. If you identify HTML tags that do not appear or display properly on a web browser, then consider changing the HTML tags to a compatible alternative.
    5. Modify the "moviecss1.html" page to link to the "format2.css" external style sheet instead of the "format1.css" file.
    6. Save the page as "moviecss2.html" and test it in a browser. During the test, ensure that all HTML tags work properly. If you identify HTML tags that do not appear or display properly on a web browser, then consider changing the HTML tags to a compatible alternative.

Notice how different the page looks!

Note: The web page should validate successfully using the W3C validator. The syntax should be error free and generate a website on multiple browsers.

Part II: Summary Report

Create a 1–2 page summary report that summarizes the changes made to the website for management. The summary report is typically created for management to present an overview of the changes that were made to the website in nontechnical terms.

Note: Your summary report should utilize at least three scholarly or professional sources (beyond your textbook). Your report should be written in a clear, concise, and organized manner; demonstrate ethical scholarship in accurate representation and attribution of sources (i.e., in APA format); and display accurate spelling, grammar, and punctuation.

Submission Details:

  • By the due date assigned, save your 2 external style sheets as M2_A2_LastName_FirstInitial_format1.css and M2_A2_LastName_FirstInitial_format2.css, your 2 web pages as M2_A2_LastName_FirstInitial_moviecss1.html and M2_A2_LastName_FirstInitial_moviecss2.html, and the summary report as M2_A2_LastName_FirstInitial.doc and submit them to the Submissions Area.

Assignment 2 Grading CriteriaMaximum PointsCreated the first external style sheet and formatted it as per the assignment instructions using text editor.24Created the second external style sheet and formatted it as per the assignment instructions using text editor.24Created a web page about a movie that displays the movie name as per the assignment instructions using a text editor or an HTML editor; validated the website using the W3C validator.24Submitted a summary report including the changes you made to the website for management.8Wrote in a clear, concise, and organized manner; demonstrated ethical scholarship in accurate representation and attribution of sources; displayed accurate spelling, grammar, and punctuation. Wrote all citations in APA format.20Total:100 

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