User Account

All Pages

Determine the dollar amounts that should be reported

Assignment Help Accounting Basics
Reference no: EM131734751

Question - On January 2, 2017, Alpha Company purchased 15,000 shares of the stock of Zulu Company, and did not obtain significant influence.  The investment is intended as a long-term investment.  The stock was purchased for $12 per share, and represents a 15% ownership stake.  Zulu Company made $25,000 of net income in 2017, and paid dividends of $10,000 on December 15, 2015.  On December 31, 2017, Zulu Company's stock was trading on the open market for $11 per share at the end of the year. Use this information to determine the dollar amounts that should be reported by Alpha Company during 2017 for the following items:

1. Dividend Income

2. Unrealized Gain/Loss - OIC (If a loss, enter the amount with dollar sign inside of brackets)

3. Available-for-Sales Securities

Reference no: EM131734751

Questions Cloud

Describe examples in which data warehouses could be used : Describe four examples in which data warehouses and data mining could be used to support data processing and trend analysis in large organizational environment.
Relationship between state and federal fair employment laws : Which statement best summarizes the relationship between state and federal fair employment laws?
Build your recommendation on facts and relevant research : build your recommendation on facts and relevant research (not opinion). Why would an overseas procedure be a good option?
Developing the tactical and strategic marketing plan : You are the marketing manager for the firm of your choice responsible for developing the tactical and strategic marketing plan.
Determine the dollar amounts that should be reported : Use this information to determine the dollar amounts that should be reported by Alpha Company during 2017
Relationship between the confidence level : What is the mathematical relationship between the confidence level and the level of significance, (alpha)?
How cloud computing could be use by carlson instead of a san : Explain how cloud computing could be used by Carlson instead of a SAN. Create a diagram using Visio or its open source alternative software.
How do managers determine what the standard cost should be : What are some advantages and disadvantages of standard costs? How do managers determine what the standard cost should be
Analyse the roles and responsibilities of marketing : Analyse the roles and responsibilities of marketing in the context of the marketing environment - evaluate a basic marketing plan for your organisation

Reviews

Write a Review

Accounting Basics Questions & Answers

  A new staff accountant for the mccollum corporation

during its first year of operations the mccollum corporation entered into the following transactions relating to

  What is the future value of periodic payments

What is the future value of 15 periodic payments of $7,000 each made at the end of each period and compounded at 10%

  Current period accounting records

Presented below is selected information from the Kudlick Company's current period accounting records (in $000s):

  What purposes does a process cost summary serve

Is it possible to have under- or overapplied overhead costs in a process cost accounting system? Explain.

  Wisconsin warning co plans to finance its operations by

wisconsin warning co. plans to finance its operations by issuing 5000000 of 5 year 12 bonds with interest payable

  Iadanza corporation is a wholesaler that sells a single

iadanza corporation is a wholesaler that sells a single product. management has provided the following cost data for

  Identify which accounts should be closed on september 30

Prepare an income statement and a retained earnings statement for the 3 months ending September 30 and a classified balance sheet at September 30.

  What is the investment portion remaining

In 1991, Barbara purchased a single life annuity for $250,000 that would pay her $25,000 per year for life beginning in 2002. Barbara's life expectancy from 2002 forward on which the payments were based is 25 years.

  Youre the owner of small bread factory and are thinking of

you are the owner of a small bread factory and are thinking of lowering costs and expanding. your small-business

  After a number of complaints about its directory

after a number of complaints about its directory assistance a telephone company examined samples of calls to determine

  How can a company that has a profit can increase its return

1. how can a company that has a profit can increase its return on investment.2. what is an opportunity and what

  Faxon company which has only one product has provided the

faxon company which has only one product has provided the following data concerning its most recent month of operations

Free Assignment Quote

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

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd