How does a retailer cooperative function?
What will be an ideal response?
A retailer cooperative is a group of retailers that come together to set up a jointly owned, central wholesale operation, and conduct joint merchandising and promotion efforts. Through a retailer cooperative, independents can match the buying and promotion economies of corporate chains.
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Mickelson Company acquired an 80% interest in Footjoy on January 1, Year 1, for $1,200,000. The book value of Footjoy's identifiable net assets at that date was $900,000. One depreciable asset (10-year life) had a fair value that exceeded its book value by $100,000. Footjoy reported $60,000 of net income in Year 1 and paid $40,000 in dividends. What was the noncontrolling interest in NET ASSETS as of the date of DDEC 31, Year 1?
a. $242,000 b. $302,000 c. $304,000 d. $310,000
The fixed-position layout would be MOST appropriate in which of the following settings?
A) a fast-food restaurant B) a doctor's office C) a casual dining restaurant D) a cruise ship assembly facility E) a washing machine assembly line