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Question - On January 2, 2020, All Good Company purchased 6 000 shares of the stock of Big Bad Company, and DID obtain significant influence. The investment is intended as a long-term investment. The stock was purchased for $18,00 per share, and represents a 30% ownership stake. Big Bad Company made $500 000 of net income in 2020, and paid dividends to All Good Company of $20 000 on December 15, 2020. Big Bad Company's stock was trading on the open market for $18,50 per share at the end of the year. Use this information to determine the book value of the investment that should be reported at year end by All Good Company. Round to nearest whole number (no cents).
On January 1, 2021, Baltimore Company issued $300 000 face value, 5%, 5-year bonds at 103. Baltimore uses the straight-line method for amortization. Use this information to determine the dollar value of the annual bond premium amortization. Round your answer to the nearest whole number (no cents).
Feb 20, issued 40,000 shares of common, What is the journal entry for dec 31, there are two journal entries? Prepare the equity section of the balance sheet
Indicate whether each situation would be included in the income statement in continuing operations (CO) or below continuing operation (BC), or if it would appear as an adjustment to retained earnings(RE). Use the format show below to answer requir..
Show detail of net sales. The company uses the periodic inventory system. Beginning merchandise inventory was $26,000; ending merchandise inventory is $22,000.
Graham's Fine Restaurants is considering two mutually exclusive projects with the following cash flow streams. Compute the Payback Period for both projects
Evaluate whether the entity's financial position improved or deteriorated through the reporting period. Speculate on the causes from your review of the financial statements.
Dozier's weighted average cost of capital is WACC=13% Suppose Dozier has $10 million in marketable securities, $100 million in debt and 10millioin shares of stock. What is inintrinsic price per share?
Financial accounting prepares reports for internal? purposes, whereas managerial accounting provides information to external stakeholders.
marsha moore gave assets with an adjusted basis of 28000 to alfred when the fair market value of the property was
On July 1, 2011, the company adopted a plan to discontinue a division that qualifies as a component of an entity as defined by GAAP. The assets of the component were sold on September 30, 2011 for $50,000 less than their book value. Prepare a multip..
Sean is admitted to the calender year XYZ Partnership on December 1 of the current year in return for his services managing the partnership’s business during the year. The partnership reports ordinary income of $100,000 for the current year without c..
On May 31, 2021 Company A borrowed $15,000 from a bank on a 10% 11 month note payable. Calculate the total amount of interest expense
Determine the amount that should be reported as cash. If the item(s) is not reported as cash, explain the rationale.
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