GoWeb IT Inc. is a public company that manufactures and sells IT systems and also provides IT training and support. GoWeb’s customers can purchase IT system hardware or support services separately, but the company also offers hardware and support services as a package. On June 14, 2020, Western Power Ltd., one of GoWeb’s customers, purchased an equipment and support package. The contract with Western is for $3,780,000 and includes hardware and three years of support services. The hardware that was purchased would normally sell for $2,737,800, and support services would be valued at $1,312,200 if purchased separately. The hardware cost GoWeb $2,450,000 and was delivered on June 30, 2020. GoWeb’s management expects that about half of the support services will be provided in July 2020 as the new hardware is installed. The balance of the support is expected to be provided evenly over the remainder of the contract. The contract also calls for Western to make a $900,000 payment to GoWeb within 30 days of signing the contract and then $960,000 on January 1, 2021, 2022, and 2023. Western is a successful company and GoWeb’s management has no concerns about collectibility.

Eliminating entries (including goodwill impairment) and worksheets for various years on january 1, 2013, porter company purchased an 80% interest in the capital stock of salem company for$850,000. at that time, salem company had capital stock of $550,000 and retained earnings of $80,000.differences between the fair value and the book value of the identifiable assets of salem company were asfollows: fair value in excess of book valueequipment$130,000land65,000inventory40,000the book values of all other assets and liabilities of salem company were equal to their fair values onjanuary 1, 2013. the equipment had a remaining life of five years on january 1, 2013. the inventory was sold in2013.salem company’s net income and dividends declared in 2013 and 2014 were as follows: year 2013 net income of $100,000; dividends declared of $25,000year 2014 net income of $110,000; dividends declared of $35,000required: a.prepare a computation and allocation schedule for the difference between book value of equity acquired andthe value implied by the purchase price.b.present the eliminating/adjusting entries needed on the consolidated worksheet for the year endeddecember 31, 2013. (it is not necessary to prepare the worksheet.)lo6lo1

:; )write a paragraph of two to three sentences and describe what will happen to a society that does not have a productive workforce?

Turrubiates corporation makes a product that uses a material with the following standards standard quantity 8.0 liters per unit standard price $2.50 per liter standard cost $20.00 per unit the company budgeted for production of 3,800 units in april, but actual production was 3,900 units. the company used 32,000 liters of direct material to produce this output. the company purchased 20,100 liters of the direct material at $2.6 per liter. the direct materials purchases variance is computed when the materials are purchased. the materials quantity variance for april is: