On january 1 2014 pennington corporation purchased 25 of

Assignment Help Accounting Basics
Reference no: EM13592307

On January 1, 2014, Pennington Corporation purchased 25% of the common shares of Edwards Company for $427,000. During the year, Edwards earned net income of $170,800 and paid dividends of $42,700.Prepare the entries for Pennington to record the purchase and any additional entries related to this investment in Edwards Company in 2014.

Reference no: EM13592307

Questions Cloud

Clarence began constructing a building for a customer on : clarence began constructing a building for a customer on 7307. the building will be 14 stories tall and is expected to
Consumers feel that digital versions of books and music : consumers feel that digital versions of books and music should be considerably cheaper than the paper based book or
The remaining capacity can be used to produce 20000 units : a corporation has 2 divisions division 1 and division 2. division 1 makes product a product b and product c. those
Timberly construction negotiates a lump-sum purchase of : timberly construction negotiates a lump-sum purchase of several assets from a company that is going out of business.
On january 1 2014 pennington corporation purchased 25 of : on january 1 2014 pennington corporation purchased 25 of the common shares of edwards company for 427000. during the
A naval cruiser on maneuvers travels 540 km at 187 degrees : a naval cruiser on maneuvers travels 54.0 km at 18.7 degrees west of north then turns and travels 64.5 km at 15.6
The srane company has contacted trell with an offer to : the srane company has contacted trell with an offer to sell it 5000 wickets for 36 each. if trell makes the wickets
She believes that the price of the stock one year after : susan has been granted stock options by her firm. her exercise price is 18 per share and the current fair market value
Division 1 has a capacity of 50000 units per month the : a corporation has 2 divisions division 1 and division 2. division 1 makes product a product b and product c. those

Reviews

Write a Review

Accounting Basics Questions & Answers

  Why might an operating manager prefer seeing a variable

why might an operating manager prefer seeing a variable costing income statement over the traditional

  Realization of an operating income

If fixed costs are $700.000 and the unit contribution margn is $14, what amount of units must be sold in order to realize an operating income of $100.000

  What is the acquisition cost of each asset

Any plans to depreciate the operating assets on a straight-line basis for 20 years. Determine the amount of depreciation expense for 2010 on these newly acquired assets.

  What is the issue price of the bond

Assume that the market interest rate at the date of issuance is 10 percent (5 percent per semiannual period). What is the issue price of the bond?

  Compare the tax consequences to the shareholder and the

compare the tax consequences to the shareholder and the distributing corporation of the following three kinds of

  Serta carpet which manufactures carpet incurred the

serta carpet which manufactures carpet incurred the following costs for march when 2600 yards of carpet were produced

  Lucy gives her sister a machine to use in her business with

1. miriam received nontaxable stock rights on june 4 2010. she allocated 12000 of the 60000 basis for the associated

  Freds fasteners is a manufacturing company that has decided

freds fasteners is a manufacturing company that has decided they are large enough to choose to be self-insuring for

  Wires inc sells telephone poles to utility and telephone

wires inc. sells telephone poles to utility and telephone companies across the united states. there are four regions

  Franklin printing company is considering replacing a

franklin printing company is considering replacing a machine that has been used in its factory for four years. relevant

  Actual direct labor-hours

In a certain standard costing system the following results occurred last period: labor rate variance, $1,000 U; labor efficiency variance, $2,800 F; and the actual labor rate was $0.20 more per hour than the standard labor rate. The number of actu..

  Collison and ryder company campr has been experiencing

collison and ryder company campr has been experiencing declining market conditions for its sportswear division.

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd