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BuyCo holds 25 percent of the outstanding shares of Marqueen and appropriately applies the equity method of accounting. Excess cost amortization (related to a patent) associated with this investment amounts to $10,000 per year. For 2014, Marqueen reported earnings of $100,000 and declares cash dividends of $30,000. During that year, Marqueen acquired inventory for $50,000, which it then sold to BuyCo for $80,000. At the end of 2014, BuyCo continued to hold merchandise with a transfer price of $32,000.
a. What Equity in Investee Income should BuyCo report for 2014?
b. How will the intra-entity transfer affect BuyCo’s reporting in 2015?
c. If BuyCo had sold the inventory to Marqueen, how would the answers to (a) and (b) have changed?
What types of goods are these public goods? (c) If the price or cost of college and university education increase by 10 percent and, at the same time, incomes also increase by 10 percent, what would be the change in the demand for college and univ..
selected t-accounts for rolm company are given below for the just completed yearraw materialsmanufacturing overheadbal.
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the year-end 2008 balance sheet of brandex inc. listed common stock and other paid-in capital at 1100000 and retained
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Ted also owns a 10% of Subco (an S corporation) that had $100,000 of taxable income and distributed a total of $60,000 to its shareholders. How much must Ted include in his gross income as a result of being a shareholder in these two corporations?
Prepare journal entries in the General Fund of the Brownville School District.
Prepare the proper journal entries in an Excel file, including Notes, and properly update the T-accounts affected by each of the following journal entries.
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