Equity method - dividends received from first alert company

Assignment Help Financial Accounting
Reference no: EM13534061

Equity method

On January 2, THT Company acquired 40% of the outstanding stock of First Alert Company for $155,000. For the year ending December 31, First Alert Company earned income of $42,000 and paid dividends of $12,000. Prepare the entries for THT Company for the purchase of the stock, share of First Alert income, and dividends received from First Alert Company.

Reference no: EM13534061

Questions Cloud

Enzymes secreted by the pancreas : Enzymes secreted by the pancreas are involved in all of the following digestive reactions with one exception. What is the exception?
Prepare the journal entries for the original purchase : On October 5, 500 shares of the Birch Company stock were sold for $35 per share less a $50 brokerage fee. Prepare the journal entries for the original purchase, dividend, and sale.
What is the balls velocity at the bottom of the hill : a ball is pushed with an initial velocity of 6 m/s. the ball rolls down a hill with a constant acceleration of 2 m/s^2. what is the balls velocity at the bottom of the hill
Meiotic divsion differs from mitosis : Meiotic divsion differs from Mitosis in the following way
Equity method - dividends received from first alert company : Prepare the entries for THT Company for the purchase of the stock, share of First Alert income, and dividends received from First Alert Company.
What is the speed of the car relative to the ground : A 40ton rail car and a 80ton rail car, initially at rest, are connected together with a giant but massless compressed spring between them. When released, What is the speed of the 40ton car relative to the ground
What is the predicted genotypic ratio of a dibybrid test : What is the predicted genotypic ratio of a dibybrid test cross of heterozygous versus that of a dihybrid test cross of ahomozygous dominant phenotype? use and example from mendels work todescribe your predictions.
The price-earnings ratio : The most common valuation multiple is the price-earnings ratio
Find the velocities of both cars at the instant : The racer decides to race against a stock car. Both start from rest. The stock car leaves 1.0 sec before the race car. Find the velocities of both cars at the instant they are side by side

Reviews

Write a Review

Financial Accounting Questions & Answers

  Prepare journal entries for each of the transactions

Prepare journal entries for each of the transactions listed and prepare any required adjusting entries on December 31.

  My glory productions has just finished

My Glory Productions has just finished production of Troubles Ahead, the latest action film directed by Fleur Dunne and starring Rodney Kid and Tess Bow.

  Explain the impact that the pacific acceptance case

Explain the impact that the Pacific Acceptance case had on existing auditing practice. List four of the procedures or practices that were identified in the ruling as being part of a competent audit.

  Question brad owns a successful corporation that has

question brad owns a successful corporation that has substantial earnings and profits. during the year the subsequent

  Prepare the liabilities section of pedricks balance sheet

Prepare the liabilities section of Pedricks balance sheet as at January 31, 2012 and Identify which of the above liabilities are likely current and which are likely longterm. Say if an item fits in neither category. Explain the reasoning for your s..

  Clyde and bonnie are the only two shareholders in getaway

clyde and bonnie are the only two shareholders in getaway corporation. bonnie owns 60 shares with a basis of 6600 and

  At what amunt are cash payments for inventory

Chris's Cookie toppings makes payment on its inventory purchase as follows: 25% in the month of purchase, 65% in the following month, and 10% in the second month following purchase.

  What adjustment should chief make to the allowance

How does the use of estimates affect the financial statements of a company and in your opinion, does the use of estimates create opportunities for companies' to manipulate financial reporting?

  Write a formal business letter to ben

Write a formal business letter to Ben answering their questions and provide specific references to the GAAP Codification sections used to arrive at your answers.

  What would be the effect on earnings per share

What would be the effect on earnings per share in the second year of the 4-year contract of using the percentage-of-completion method instead of the completed-contract method? Discuss.

  Do you think that you should face the same integrity issues

Do you think that you should face the same integrity issues that an outside auditor faces with respect to conflicts of interest? Why, or why not?

  Briefly describe steps you might take to resolve dilemma

You suspect that your immediate supervisor is involved in a significant fraud involving diverting of company assets to personal use. Briefly describe the steps you might take to resolve this dilemma.

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!

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