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Gregory Inc. acquired 20% of the outstanding common stock of Handerson Inc. on December 31, 2012. The purchase price was $1,250,000 for 50,000 shares. Handerson Inc. declared and paid an $0.80 per share cash dividend on June 30 and on December 31, 2013. Handerson reported net income of $730,000 for 2013. The fair value of Handerson’s stock was $27 per share at December 31, 2013. (a) Prepare the journal entries for Gregory Inc. for 2012, and 2013, assuming that Gregory cannot exercise significant influence over Handerson. The securities should be classified as available-for-sale. (b) Prepare the journal entries for Gregory Inc. for 2012 and 2013, assuming that Gregory can exercise significant influence over Handerson. (c) Illustrate at what amount is the investment in securities reported on the balance sheet under each of these methods at December 31, 2013? What is the total net income reported in 2013 under each of these methods?
Budgeting involves computation of budgeted purchase - Given the above information, what will be the budgeted purchases for July? Round your answer to the nearest whole dollar.
Evaluate Becky's bad debt deduction for 2012? For 2013? What forms are used to record the bad debt on her tax return?
Accounting entries from the given information - COLO COMPANY Sales Journal
Show in good form the income statement of ABC Corporation for 2011 starting with "income from continuing operations." Suppose that ABC's tax rate is 40 percent and 100,000 shares of common stock were outstanding during the year.
Prepare interest payment entry for Barkley Company on 31st December, 2012 and what entry should Barkley make on 1st January, 2014?
Gift taxes paid on property were $3,000. Find what Alfred's basis for gain is and what is his basis for loss?
After Ed's death, his former employer paid Ed's widow $12,000 in "her time of need." Ed's widow also collect $25,000 on a group term insurance policy paid for by Ed's employer. Illustrate what are Ed's and his widow's gross income?
Evaluate the initially reported earnings per share for 2009. Determine the restated cash dividend per share for 2009 reported in the 2011 annual report for comparative purposes.
Illustrate what is the company's projected benefit obligation at the end of 2011? If no estimates are changed in the meantime, what will be the company's projected benefit obligation at the end of 2014 (three years later)?
What is the cash break-even level of output for this project
financial statements of the subsidiary and the parent are consolidated.
Make a tabular analysis of the transactions using these column headings: Cash, Accounts Receivable, Supplies, Office Equipment, Accounts Payable, Common Stock, and Retained Earnings. Include margin explanations for any changes in Retained Earnings..
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