User Account

All Pages

How much is the balance of the investment in associate

Assignment Help Accounting Basics
Reference no: EM132576920

On july 1, 2009, Les Co. acquired 50,000 newly issued shares of Claypool Co. at 10 pesos per share. Before the acquisition, Claypool had 100,000 ordinary shares outstanding. In 2009, Claypool reported profit of 5,000,000, 2,000,000 of which was earned during the first half of 2009. Claypool paid 9% annual cash dividends in 2009.

Requirements:

Question a. How much is Les Co.'s investment income in 2009?

Question b. How much is the balance of the investment in associate account on December 31, 2009?

Question c. Provide the journal entries in 2009.

Reference no: EM132576920

Questions Cloud

Design a kinematic device in fusion : Design a kinematic device in Fusion that can be manufactured using laser cutting and 3D printing - design it with space to place sensors in mind
Compute the cash dividends received or receivable : Compute the share in the profit or loss of the associate minus amortization of undervaluation of assets and cash dividends received or receivable.
Discuss what form of evidence would not support connection : Some argue that gender roles play a part in the extent of violence in a society. Based on chapter eight, especially pages 322-323 and the research report.
How to calculate economic order quantity : How to calculate EOQ (economic order quantity). The key ingredients come only in one Kg boxes and can make up to 20 meals per box.
How much is the balance of the investment in associate : How much is the balance of the investment in associate account on December 31, 2009? How much is Les Co.'s investment income in 2009?
How to construct a society with the knowledge we have : Chapter 7 of your textbook discusses how societies rank people based on distinctions such as race, gender, economic status, and other factors, sometimes based.
Major components of strategic management process : Identify the major components of the strategic management process. Discuss how these components work together to create value for the organization.
Explain the concept of e-business and cloud computing : Explain the concept of e-business, cloud computing or shared services to improve the efficiency of Circle College's operation in the current situation
Define what a conceptual metaphor is : Language is a symbolic mode of communication that pervades human culture and human thought. From the Saphir-Whorp hypothesis that language influences.

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