Answer Happy

Which of the following is NOT required for an investor to have control over an investee? Select one: O A. The investor must have power over the investee. OB. The investor must be able to use its power to affect the amount of its returns. O C. The investor must currently own a majority of the voting shares of the investee. OD. The investor must have exposure to variable returns from the investment.
។ Mean Beans, a local coffee shop, has the following assets on January 1, 2020. Mean Beans prepares annual financial statements and has a December 31, 2020 year end. The company's depreciation policy is to use the straight-line method to depreciate its assets. a. On January 1, 2020, purchase equipment costing $20.900 with an estimated life or five years. Mean Beans will scrap the equipment after five years for $0. b. On July 1, 2020. purchase furniture (tables and chairs) costing $21.900 with an estimated life of ten years. Mean Beans estimates that it can sell the furniture for $3,000 after ten years. c. On January 1, 2018, Mean Beans had purchased a car costing $30.250 with an estimated life of eight years. Mean Beans estimates that it can sell the car for $6.050 after eight years. Required: 1-o. For each transaction calculate the current year annual depreciation expense, a. Annual depreciation expense on equipment Annual depreciation expense on furniture C Annual depreciation expense on car