Systems that record and process data about the routine activities of an enterprise are ________
A) business-to-business systems
B) transaction processing systems
C) business-to-customer systems
D) business intelligence system
B
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How is general ledger updating accomplished by the various accounting subsystems?
A) Individual journal entries for each accounting subsystem transaction update the general ledger every 24 hours. B) Summary journal entries that represent the results of all transactions for a certain time period are used to update the general ledger. C) The controller or treasurer must approve accounting subsystem journal entries before any updating may occur. D) Nonroutine transactions are entered into the system by the treasurer's office.
Patten Company purchased an 80% interest in Salty Inc on January 1, 2016, for $500,000 when the stockholders' equity of Salty was $500,000 . Any excess of cost was attributed to a building with a 20-year life
On July 1, 2019, Patten sold part of its investment and reduced its ownership interest to 60%. Salty earned $62,000, evenly, during 2019 . The NCI share of 2019 consolidated income is a. $10,000 b. $12,400 c. $16,725 d. $43,400