Calculate the balance in the investment in south company

Assignment Help Accounting Basics

Reference no: EM13569231

Grant, Inc. acquired 30% of South Company's common stock for $350,000 on January 1, 2011. During 2011, South Company reported a net income of $120,000 and paid dividends totaling $30,000. For 2012, South Company paid 60% of its net income to stockholders as dividends. On December 31, 2012, Grant, Inc. sold one-half of its investment in South Company for $250,000 cash. Grant, Inc. reported a gain from selling one-half of its investment in South Company on its 2012 income statement (note the amount of the gain has been intentionally omitted from the given information).

Calculate the balance in the investment in South Company account reported on Grant, Inc.'s December 31, 2011 balance sheet.
Do not use decimals in your answer.

Reference no: EM13569231

Questions Cloud

The last reported earnings for white corp were 150 last : the last reported earnings for white corp. were 1.50 last year and earnings are expected to grow at 5 indefinitely. if

Describe three examples of control activities whole foods : review whole foods market incs 2010 annual report company information and investor information and write a 5-7 page

The expected return for each companys stock is 87 percent : red inc. yellow corp. and blue company each will pay a dividend of 1.85 per share next year. the expected annual growth

Prepare a 1300 to 1700 word paper on your perception and : prepare a 1300 to 1700 word paper on your perception and concept of forensic science in 21st-century criminal justice.

Calculate the balance in the investment in south company : grant inc. acquired 30 of south companys common stock for 350000 on january 1 2011. during 2011 south company reported

The company does not plan to borrow money or pay or declare : colerain corporation is a merchandising company that is preparing a profit plan for the third quarter of the calendar

The french thaler and companys stock has paid dividends of : the french thaler and companys stock has paid dividends of 1.60 over the past 12 months. its historical growth rate of

If the required return is 16 percent and the company just : wasserman corp. is growing quickly. dividends are expected to grow at a 28 percent rate for the next three years with

You are the senior accountant for a company that has : you are the senior accountant for a company that has determined the useful life of a machine costing 100000 will be 7

User Account

All Pages