Homework Answers
The balance in investment Account on 31st December will be $ 220,000
Because under fair value through profit and loss method the financial instrument value is increased or decreased based on its fair value . therefore : $ 11 * 20000 share = $ 220,000
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yean the ihanial ins ents...
On January 1, 2010, X Inc. purchased 25% of the voting shares of Y Inc. for...
On January 1, 2010, X Inc. purchased 25% of the voting shares of Y Inc. for $100,00 investment is reported using the equity method, as a na It is reported using the equity method, as X has significant influence over Y. Y's net income and declared dividends for the following three years are as follows: 2010 2011 2012 Net Income $50,000 $70,000 $30,000 Dividends $20.000 $80.000 $60,000 What would be the carrying value of X's Investment in Y at the...
how did they get the solutions for the last three questions please 21. ( Oy On...
how did they get the solutions for the last three questions
please
21. ( Oy On January 1, 2010, X Inc, purchased 12% of the voting shares of Y Inc. for $100.000 investment is reported at cost. X does not have significant influence over Y. Y's net icon and declared dividends for the following three years are as follows: Net Income Dividends 2010 2011 2012 $50,000 $70,000 $30,000 $20,000 $80,000 $60,000 Which of the following journal entries would have to...
Use the following information to answer questions 1 and 2. Riley's Corporation was organized on January...
Use the following information to answer questions 1 and 2. Riley's Corporation was organized on January 1, 2019. The firm was authorized to issue 100,000 shares of $5 par value common stock. During 2019, Riley had the following transactions relating to stockholders’ equity: Issued 10,000 shares of common stock at $7 per share Issued 20,000 shares of common stock at $8 per share Reported a net income of $100,000 Declared and paid dividends of $50,000 Purchased 3,000 shares of treasury...
Hi can someone assist please the entries in red are wrong FULL SCREEN PRINTER VERSSON BACK...
Hi can someone assist please the entries in red are
wrong
FULL SCREEN PRINTER VERSSON BACK Additional Problem 4 Your answer is partially correct. Try again. On January 1, 2017, Pearl Corporation purchased 20% of the outstanding voting shares in wLT Corporation for $1,280,000. At the time of purchase, WLT's net assets were undervalued by $83,520 and had a remaining useful life of 12 years. Both companies had a December 31 year-end. At the end of 2017, WLT reported a...
(a) carrying the investment at FAIR VALUE please do not copy others answer, thank you. Chapter...
(a) carrying the investment at FAIR VALUE
please do not copy others answer, thank you.
Chapter 2 Reporting Intercorporate Investments and Consolidation of Wholly Owned Subsidiaries with No Differential 85 E2-4 Carrying an Investment at Fair Value versus Equity Method Reporting Winston Corporation purchased 40 percent of the stock of Fullbright Company on January 1, 20X2, at underlying book value. During the period of January 1, 20X2, through December 31, 20X4, the market value of Winston's investment in Fullbright's stock...
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Posada Company acquired 7,000 of the 10,000 outstanding shares of Sabathia Company on January 1, 2011, for $850,000. The subsidiary's total fair value was assessed at $1,200,000 although its book value on that date was $1,130,000. The $70,000 fair value in excess of Sabathia's book value was assigned to a patent with a 10-year remaining life. On January 1, 2013, Posada reported $1,085,000 equity method balance in the investment in Sabathia Company account. On October 1, 2013, Posada sells 1,000...
On January 1, 2018, Pen Corporation acquired 75% of the outstanding common stock of Sen Company...
On January 1, 2018, Pen Corporation acquired 75% of the outstanding common stock of Sen Company for $450,000. Fair value of noncontrolling interest at the date of acquisition is $116,500. Sen’s stockholders’ equity on January 1, 2018, was as follows: Common stock, $20 par $200,000 Additional paid-in capital 100,000 Retained earnings 100,000 Accumulated OCI 25,000 Differences between book value and fair value of the identifiable net assets of Sen Company on January 1, 2018, were...
On January 1, 2020, Redmond Company purchased 3,000 of the 15,000 outstanding shares of common stock...
On January 1, 2020, Redmond Company purchased 3,000 of the 15,000 outstanding shares of common stock of Decca Computer (DC) Corporation for $80,000 cash as a long-term investment (the only long-term equity invest- ment held). The assets and liabilities of DC Corporation at the date of purchase approximate fair value. During 2020, DC reported net income of $25,000 and declared and paid cash dividends of $10,000. The fair value of DC Corporation at December 31, 2020, was $25 per share....
Hello. I am trying to figure out how you get the amount of $480,000 in the...
Hello. I am trying to figure out how you get the amount of
$480,000 in the 1/1/18 stockholder's equity balance in the
solutions section (where I drew a blue arrow). Please provide your
response and all side calculations in Word or Excel format as it is
easy to read. I appreciate it.
LO 3-1, 3-4 23. Following are selected account balances from Penske Company and Stanza Corporation as of December 31, 2018: Penske Stanza Revenues Cost of goods sold. Depreciation...
On January 1, 2017, Palka, Inc., acquired 70 percent of the outstanding shares of Sellinger Company...
On January 1, 2017, Palka, Inc., acquired 70 percent of the outstanding shares of Sellinger Company for $1,290,800 in cash. The price paid was proportionate to Sellinger’s total fair value, although at the acquisition date, Sellinger had a total book value of $1,570,000. All assets acquired and liabilities assumed had fair values equal to book values except for a patent (six-year remaining life) that was undervalued on Sellinger’s accounting records by $264,000. On January 1, 2018, Palka acquired an additional...
On January 1, 2010, X Inc. purchased 25% of the voting shares of Y Inc. for $100,00 investment is reported using the equity method, as a na It is reported using the equity method, as X has significant influence over Y. Y's net income and declared dividends for the following three years are as follows: 2010 2011 2012 Net Income $50,000 $70,000 $30,000 Dividends $20.000 $80.000 $60,000 What would be the carrying value of X's Investment in Y at the...
how did they get the solutions for the last three questions
please
21. ( Oy On January 1, 2010, X Inc, purchased 12% of the voting shares of Y Inc. for $100.000 investment is reported at cost. X does not have significant influence over Y. Y's net icon and declared dividends for the following three years are as follows: Net Income Dividends 2010 2011 2012 $50,000 $70,000 $30,000 $20,000 $80,000 $60,000 Which of the following journal entries would have to...
Hi can someone assist please the entries in red are
wrong
FULL SCREEN PRINTER VERSSON BACK Additional Problem 4 Your answer is partially correct. Try again. On January 1, 2017, Pearl Corporation purchased 20% of the outstanding voting shares in wLT Corporation for $1,280,000. At the time of purchase, WLT's net assets were undervalued by $83,520 and had a remaining useful life of 12 years. Both companies had a December 31 year-end. At the end of 2017, WLT reported a...
(a) carrying the investment at FAIR VALUE
please do not copy others answer, thank you.
Chapter 2 Reporting Intercorporate Investments and Consolidation of Wholly Owned Subsidiaries with No Differential 85 E2-4 Carrying an Investment at Fair Value versus Equity Method Reporting Winston Corporation purchased 40 percent of the stock of Fullbright Company on January 1, 20X2, at underlying book value. During the period of January 1, 20X2, through December 31, 20X4, the market value of Winston's investment in Fullbright's stock...
On January 1, 2020, Redmond Company purchased 3,000 of the 15,000 outstanding shares of common stock of Decca Computer (DC) Corporation for $80,000 cash as a long-term investment (the only long-term equity invest- ment held). The assets and liabilities of DC Corporation at the date of purchase approximate fair value. During 2020, DC reported net income of $25,000 and declared and paid cash dividends of $10,000. The fair value of DC Corporation at December 31, 2020, was $25 per share....
Hello. I am trying to figure out how you get the amount of
$480,000 in the 1/1/18 stockholder's equity balance in the
solutions section (where I drew a blue arrow). Please provide your
response and all side calculations in Word or Excel format as it is
easy to read. I appreciate it.
LO 3-1, 3-4 23. Following are selected account balances from Penske Company and Stanza Corporation as of December 31, 2018: Penske Stanza Revenues Cost of goods sold. Depreciation...
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