Easton company and lofton company were combined as result of a purchase transaction. easton was able to acquire lofton at a bargain price. the sum of the fair values of identifiable assets acquired less the fair value of liabilities assumed exceeded the cost of acquiring easton. easton will report the excess amount as
a. a gain.
b. paid-in capital.
c. a deferred credit and amortize it.
d. part of current income in the year of combination.

Bayside began 2014 with an inventory t-account debit balance of $155,000. inventory purchases during the year amounted to $75,000. there were no inventory-related write-downs or losses. what is its december 31, 2014, inventory account balance?

Which of the following areas provides residents with close access to high-paying jobs and cultural attractions? a. the suburbs b. exurbs c. rural areas d. the city 2b2t

After the 2008 recession, the amount of reserves in the us banking system increased. because of federal reserve actions, required reserves increased from $44 billion to $60 billion. however, banks started holding more reserves than required. by january 2009, banks were holding $900 billion in excess reserves. the federal reserve started paying interest on the excess reserves that the banks held. what possible impact will these unused reserves have on the economy?