A corporation uses the equity method to account for its 40

Reference no: EM13592213

A corporation uses the equity method to account for its 40% ownership of another company. The investee earned $20,000 and paid $5,000 in dividends. The investor made the following entries:

Investment in affiliate $8,000
Equity in earnings of affiliate $8,000
Cash $2,000
Dividend revenue $2,000

What effect will these entries have on the investor's statement of financial position?

Reference no: EM13592213

Questions Cloud

Park co uses the equity method to account for its january 1 : park co. uses the equity method to account for its january 1 2011purchase of tun inc.s common stock. on january 12011

Kenneth washingtons weekly gross earnings for the week : kenneth washingtons weekly gross earnings for the week ending december 18 were 1230 and his federal income tax

An employee earns 40 per hour and 15 times that rate for : an employee earns 40 per hour and 1.5 times that rate for all hours in excess of 40 hours per week. assume that the

Calculates the molarity of a calcium carbonate standard : calculates the molarity of a calcium carbonate standard solution that contains 0.2430 grams of calcium carbonate

A corporation uses the equity method to account for its 40 : a corporation uses the equity method to account for its 40 ownership of another company. the investee earned 20000 and

What is the journal entry to record income taxes income : lyons company deducts depreciation expense of 150000 for tax purposes in 2010 but the expense is not yet recognized for

On both december 31 2010 and december 31 2011 kopp cos only : on both december 31 2010 and december 31 2011 kopp co.s only equity security investment had the same fair value which

Toggles fishing fleet had 20000 shares of 5 20 par value : toggles fishing fleet had 20000 shares of 5 20 par value preferred stock and 15000 shares of 25 par value common stock

Time series i have attached the homework sheet and i : i have attached the homework sheet and i highlighted some question which i could not answer

Reviews

Write a Review

Required(*) Message

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest. How much control does the Fed have over this longer real rate?

Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

Accounting problems

Accounting problems, Draw a detailed timeline incorporating the dividends, calculate the exact Payback Period b) the discounted Payback Period. the IRR, the NPV, the Profitability Index.

Theory of interest - term structure of interest rates

Term Structure of Interest Rates

Write a report on internal controls

Write a report on Internal Controls

Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

Liquidity and profitability

Distinguish between liquidity and profitability.

What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

Capm and venture capital

CAPM and Venture Capital

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

User Account

All Pages