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On January 1, 2011, Deuce Inc. acquired 15% of Wiz Co.'s outstanding common stock for $62,400 and categorized the investment as an available-for-sale security. Wiz earned net income of $96,000 in 2011 and paid dividends of $36,000. On January 1, 2012, Deuce bought an additional 10% of Wiz for $54,000. This second purchase gave Deuce the ability to significantly influence the decision making of Wiz. During 2012, Wiz earned $120,000 and paid $48,000 in dividends. As of December 31, 2012, Wiz reported a net book value of $468,000. For both purchases, Deuce concluded that Wiz Co.'s book values approximated fair values and attributed any excess cost to goodwill.What amount of equity income should Deuce have reported for 2012?
Purchased merchandise from Johns Company under the following terms: $3,300 price, invoice dated April 2, credit terms of 2/15, n/60, and FOB shipping point.
Abraham, Inc., a New Jersey corporation, operates 57 bakeries throughout the northeastern section of the United States. In the past, its founder, James Abraham, owned all the company's outstanding common stock.
Was the gain realized by the shareholder on the exchange recognized by the shareholder? Yes or no, and why or why not?
a company is considering replacing an old piece of machinery which cost 597500 and has 347500 of accumulated
bonner corp.s sales last year were 415000 and its year-end total assets were 355000. the average firm in the industry
rentoul inc. made two sales.it sold land having a fair value of 900000 in exchange for a 4-year zero-interest-bearing
Several months ago, Northwest Cover Paint Company experienced a hazardous materials spill at one of its plants. As a result,the Environmental Protection Agency (EPA) fined the company $750,000.
on january 2 2006 speedway delivery service purchased a truck at a cost of 63000. before placing the truck in service
1.select three ratios one from each category - liquidity profitability and solvency - you think are the most
the contribution margin ratio is 25 for grain company and the break-even point in sales is 194800. to obtain a target
The Hightown council refused to increase the town budget. Robert Reed was laid off from work on Aug 4 2010. Earlier in the year he had been temporarily disabled from a job related injury and had received disability benefits. At year end Robert Ree..
conan company has total fixed costs of 112000. its product sells for 35 per unit and variable costs amount to 25 per
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