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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. Calculate the balance in the investment in South Company account reported on Grant, Inc.'s December 31, 2011 balance sheet.Assume the total increase to Grant, Inc.'s 2012 net income resulting from its investment in South Company's stock was $103,500.Calculate the net income reported by South Company in 2012. Do not use decimals in your answer.
topaz company makes one product and has set the following standards for materials and labor direct materials direct
Provide all required journal entries for fund and government-wide financial statements. What information do the government-wide financial statements present? What information do the fund out financial statements present?
The Feldbrand Corporation issued 300 shares of $200 par common stock at $220. Some time later the stockholders donated 100 shares which were retired. Prepare the journal entries under the par value method.
Compute the return on common stockholders' equity ratio.
profit charges and break-even without and with overhead. a number of years ago at the request of its employees jack
Identify the items that as an asset (A), liability (L), revenue (R), or expense (E) from the firm's viewpoint - the inventory of boating supplies owned by the company
walden company leases manufacturing equipment from preston rentals co. on january 1 2012. the following data pertain to
Debt issued by Southeastern Corporation currently yields 12%. A municipal bond of equal risk currently yields 8%. At what marginal tax rate would an investor be indifferent between these two bonds?
eckert company is involved in producing and selling high-end golf equipment. the company has recently been involved in
Compute the equivalent units of production for the first department for June, assuming that the company uses the weighted-average method of accounting for units and costs.
marvin company has the following sales budgetmonthnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbsp cash
A residual value of $2,000. Determine the cost and depreciable cost of the tractor and calculate the first year's depreciation under the straight-line method.
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