Homework Answers
Answer 1(b) CPI of market basket for February
= (Cost of market basket for February /Cost of market basket for January)*100 = ( $25*20+$3*10)/(20*$10+$2*10)*100= (530/220)*100= 240.90
c) CPI of January=100
CPI of February =240.90
% increase in CP I = ((240.9 - 100)/100)*100= 140.9%
Therefore, CPI increased by 140.9%
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Please check and
correct my work and answer the rest. Thank you :)
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Please check and
correct my work and answer the rest. Thank you :)
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On January 1, 2017, Stream Company acquired 25 percent of the
outstanding voting shares of Q-Video, Inc., for $640,000. Q-Video
manufactures specialty cables for computer monitors. On that date,
Q-Video reported assets and liabilities with book values of $1.6
million and $760,000, respectively. A customer list compiled by
Q-Video had an appraised value of $366,000, although it was not
recorded on its books. The expected remaining life of the customer
list was six years with a straight-line amortization deemed
appropriate....
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