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Class Activity: pages 1024-1025 Answer the following questions regarding the Bakke case: Terms in this set (4)1. Why was affirmative action started? Explain. The affirmative action was started because the school wanted to correct the constant, unfair minority exclusions from the medical profession. 2. What did the Court say about the Constitutionality of affirmative action programs? The court said it was unconstitutional but race could still be used as a factor of admissions. If 2 people (both with the same level of education) who were separate races (ex: one African American, and the other white) the school had the right to choose because of the race but it could not be the only reason. 3. What rights did the Court grant university admissions programs? The court granted the university the right to still consider race into their admissions decisions. "He noted that Bakke—not the Texas case—was the law of the land, and schools still had the right to consider race in admissions decisions." (page 1025) 4. Do you agree with the court's decision? Why or why not?(Opinion) I do not agree with the court because race really should not be a factor in why or why not a student gets accepted to a school or not. This could affect the student's future success and the success of one kid or student could help boost the nation's economy. Other sets by this creatorChapter 33: Section 4- Foreign Policy After the Co…12 terms jpaz03 Chapter 33: Section 3- Social Concerns in the 1980s12 terms jpaz03
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finance Placid Lake Corporation obtained 80% of the outstanding voting stock of Scenic, Inc., on January 1, 2020, when Scenic had a net book value of $400,000. Any excess fair value was assigned to intangible assets and amortized at a rate of$5,000 per year.  Placid Lake’s 2021 net income before consideration of its relationship with Scenic (and before adjustments for intra-entity sales) was $300,000. Scenic reported net income of$110,000. Placid Lake declared $100,000 in dividends during this period; Scenic paid$40,000. At the end of 2021, selected figures from the two companies’ balance sheets were as follows: <center> | | Placid Lake | Scenic | |-----------------|:-----------:|:--------:| | Inventory | $140,000 |$ 90,000 | | Land | 600,000 | 200,000 | | Equipment (net) | 400,000 | 300,000 | </center> During 2020, intra-entity sales of $90,000 (original cost of$54,000) were made. Only 20% of this inventory was still held within the consolidated entity at the end of 2020. In 2021, $120,000 in intra-entity sales were made with an original cost of$66,000. Of this merchandise, 30% had not been resold to outside parties by the end of the year. *Each of the following questions should be considered as an independent situation for the year 2021.* *a.* What is consolidated net income for Placid Lake and its subsidiary? *b.* If the intra-entity sales were upstream, how would consolidated net income be allocated to the controlling and noncontrolling interest? *c.* If the intra-entity sales were downstream, how would consolidated net income be allocated to the controlling and noncontrolling interest? *d.* What is the consolidated balance in the ending Inventory account? *e.* Assume that no intra-entity inventory sales occurred between Placid Lake and Scenic. Instead, in 2020, Scenic sold land costing $30,000 to Placid Lake for$50,000. On the 2021 consolidated balance sheet, what value should be reported for land? *f.* Assume that no intra-entity inventory or land sales occurred between Placid Lake and Scenic. Instead, on January 1, 2020, Scenic sold equipment (that originally cost $100,000 but had a$60,000 book value on that date) to Placid Lake for $80,000. At the time of sale, the equipment had a remaining useful life of five years. What worksheet entries are made for a December 31, 2021, consolidation of these two companies to eliminate the impact of the intra-entity transfer? For 2021, what is the noncontrolling interest’s share of Scenic’s net income? Verified answer management Verified answer Recommended textbook solutions
Other Quizlet setsWhat was the outcome of Regents of the University of California v Bakke?Regents of University of California v.
Bakke (1978), the Supreme Court ruled that a university's use of racial "quotas" in its admissions process was unconstitutional, but a school's use of "affirmative action" to accept more minority applicants was constitutional in some circumstances.
What was the outcome of the University of California v Bakke case quizlet?What was the Supreme Court's ruling in the Regents of the University of California v. Bakke case of 1978? The court ruled that the use of racial quotas in college admissions was unconstitutional.
Was the Court ruling a victory for Bakke explain quizlet?The court ruled in favor of Allan Bakke saying that racial quotas violated equal protection under the law in the 14th amendment. The court ordered that Bakke be admitted to The University of California.
How did the decision in Regents of the University of California v Bakke affect individual rights quizlet?How did the decision in Regents v. Bakke affect individual rights? It protected rights by letting race be an admissions factor.
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What was the outcome of Regents of the University of California v Bakke quizlet?
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