Blue sky company's 12/31/21 balance sheet reports assets of $7 and liabilities of $28. all of blue sky's assets' book values approximate their fair value, except for land, which has a fair value that is $42 greater than its book value. on 12/31/21, horace wimp corporation paid $714 to acquire blue sky. what amount of goodwill should horace wimp record as a result of this purchase?

a. $14
b. $294
c. $0
d. $252

Which of the following is not a consideration when determining your asset allocation

The simple interest in a loan of $200 at 10 percent interest per year is

You are chairman of the board of a successful technology firm. there is a nominal federal corporate tax rate of 35 percent, yet the effective tax rate of the typical corporation is about 12.6%. your firm has been clever with use of transfer pricing and keeping money abroad and has barely paid any taxes over the last 5 years; during this same time period, profits were $28 billion. one member of the board feels that it is un-american to use various accounting strategies in order to avoid paying taxes. others feel that these are legal loopholes and corporations have a fiduciary responsibility to minimize taxes. one board member quoted what the ceo of exxon once said: “i’m not a u. s. company and i don’t make decisions based on what’s good for the u. s.” what are the alternatives? what are your recommendations? why do you recommend this course of action?