Journalize the required entries for the preceeding

Reference no: EM13569224

Acme in pruchased 50,000 shares of takedown enterprises on January 1,2000. The total purchase price was 4,300,000. Takemedown reported a net income of 1,800,000 for the year eneded 12/31/00. Gobblemeup recieved a dividend of 43,000 from Able on April 1, 2000.

Journalize the required entries for the preceeding transactions if gobblemeup planned on holding the stock for more than one year and:

a) The percentage of ownership was 30%

b) the percentage of ownership was 15%

c) the investment was planned for 6 months and represented a 10% ownership

d) would the reporting be different if gobblemeup owned 60% of takmedown? How would it be reported? brifely explain?

Reference no: EM13569224

Questions Cloud

If the required return is 16 percent and the company just : wasserman corp. is growing quickly. dividends are expected to grow at a 28 percent rate for the next three years with

You are the senior accountant for a company that has : you are the senior accountant for a company that has determined the useful life of a machine costing 100000 will be 7

How does the choice of long-term asset valuation affect : p.f. skidaddles operates casual dining restaurants in three regions denver seattle and sacramento. each geographic

If the cost of goods sold equaled 86 per cent of sales what : w.f. bailey company had a quick ratio of 1.4 a current ratio of 3.0 an inventory turnover of 5x total current assets of

Journalize the required entries for the preceeding : acme in pruchased 50000 shares of takedown enterprises on january 12000. the total purchase price was 4300000.

The dividend is projected to increase at a constant rate : whited inc.s stock currently sells for 35.25 per share. the dividend is projected to increase at a constant rate of

Compare and contrast the actuarial and structured : compare and contrast the actuarial and structured professional judgment approaches to violence risk assessment. discuss

Determine the amount of the amortization depletion or : data related to the acquisition of timber rights and intangible assets during the current year ended december 31 are as

Given the common dividends per share as 025 and the : given the common dividends per share as 0.25 and the earnings per share as 1.26 calculate the dividend-payout

User Account

All Pages