User Account

All Pages

How much did Sheridan pay

Assignment Help Accounting Basics
Reference no: EM133077514

Questions -

Q1. On October 1, 2020, Wildhorse Company purchased 770 of the $1000 face value, 9% bonds of Ayayai, Inc., for $921000, including accrued interest of $15100. The bonds, which mature on January 1, 2027, pay interest semiannually on January 1 and July 1. Wildhorse used the straight-line method of amortization and appropriately recorded the bonds as available-for-sale. On Wildhorse's December 31, 2021 balance sheet, the carrying value of the bonds is

Q2. On January 1, 2021, Sheridan Company purchased 20% of Ace Corporation's common stock; no goodwill resulted from the purchase. Sheridan appropriately carries this investment at equity and the balance in Sheridan's investment account was $1030000 at December 31, 2021. Ace reported net income of $630000 for the year ended December 31, 2021, and paid cash dividends on common stock totaling $245000 during 2021. How much did Sheridan pay for its 20% interest in Ace?

Reference no: EM133077514

Questions Cloud

International division of labour contribute to globalisation : How does the international division of labour contribute to globalisation?
Develop an effective strategy : Given this dilemma, how would you develop an effective strategy to ensure you act in the best interests of your company, but without engaging in collusion, whic
Consumption curve for wheat : Smith cannot tell the difference between rice and wheat and spends all her food budget of $24/wk on these foodstuffs. If rice costs $3/lb, draw Smith's price- c
Percentage increase of the average price level : The following table gives the value of the consumer price index for 2009 through 2018.
How much did Sheridan pay : Ace reported net income of $630000 for the year ended December 31, 2021, How much did Sheridan pay for its 20% interest in Ace
Identify and list the key systems and processes : Identify and list the key systems and processes in your organisation and identify an opportunity for improvement for at least one (1) key system or process
What should the gain be on sale of this investment : During 2021, Cheyenne earned $361000 and paid dividends of $244000. What should the gain be on sale of this investment
Handling diversity issues in the workplace : Matt is the head chef for a hotel; he is responsible for the kitchen staff on his shift, Paul, Pete, Simon, Malee, Maeve and Kate.
Prepare an income statement to calculate the net profit : Identify 2 causes for the difference between net profit and cash flow from operating activities. Prepare an Income Statement to calculate the net profit

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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