Pahl corporation owns a 60 interest in sauer corporation

Assignment Help Accounting Basics
Reference no: EM13597513

Pahl Corporation owns a 60% interest in Sauer Corporation, acquired at book value equal to fair value at the beginning of 20X1. On December 20, 20X1 Sauer declares dividends of $80,000, and the dividends remain unpaid at year end. Pahl has not recorded the dividends receivable at December 31. A consolidated working paper entry is necessary to

1. Enter $48,000 dividends receivable in the consolidated balance sheet.

2. Eliminate the dividend payable account in the consolidated balance sheet.

3. Reduce the dividend payable account to $32,000 in the consolidated balance sheet.

4. Enter the $80,000 dividends receivable in the consolidated balance sheet.

Reference no: EM13597513

Questions Cloud

Ida sidha karya company is a family-owned company located : ida sidha karya company is a family-owned company located in the village of gianyar on the island of bali in indonesia.
Fran traveled to san francisco during the year to do : fran traveled to san francisco during the year to do volunteer work for one week for the salvation army. she normally
Upton co was started on 1-1-2011 when the owners invested : upton co. was started on 1-1-2011 when the owners invested 160000 cash in the business. during 2011 the company earned
The cm landscaping co uses chicken manure to fortify the : the c.m. landscaping co. uses chicken manure to fortify the soil around trees bearing rare fruit. the price standard
Pahl corporation owns a 60 interest in sauer corporation : pahl corporation owns a 60 interest in sauer corporation acquired at book value equal to fair value at the beginning of
Salsa company has fixed costs of 36000 and a contribution : salsa company has fixed costs of 36000 and a contribution margin ration of 24. if expected sales are 200000 what is
During its most recent fiscal year pacific stores sold : during its most recent fiscal year pacific stores sold 200000 electric screwdrivers at a price of 15 each. fixed costs
The new unit has a larger capacity and bravo estimates it : bravo baking co is considering replacing an older freezer with a larger unit to freeze some of its bread. the new unit
A store has budgeted sales of 12000 mens suits in september : a store has budgeted sales of 12000 mens suits in september. management wants to have 6000 suits in inventory at the

Reviews

Write a Review

Accounting Basics Questions & Answers

  Basics of annual cost savings

She does remember that the machine has a projected life of 10 years. Based on these data, the annual cost savings are:

  First national bank charges 140 percent compounded monthly

first national bank charges 14.0 percent compounded monthly on its buisness loans. first united bank charges 14.3

  December 2010 bob lucus worked for valentinos and earned

1. in december 2011 marvin simpson worked for longville flower and earned 5000 federal income tax withholding is 15.

  Everly corporation acquires a coal mine at a cost of 479200

everly corporation acquires a coal mine at a cost of 479200. intangible development costs total 119800. after

  Calculate the annual depreciation expense

Calculate the annual depreciation expense for each year of the machine's life (estimated at 5 years or 20,000 hours, with a salvage value of $75,000). During the machine's 5-year life its hourly usage was: 3,000; 4,000; 5,000; 5,000; and 3,000 hou..

  Presented below are the components in gates companys income

presented below are the components in gates companys income statement.determine the missing amounts.nbspnbspsales

  Propose that generally accepted accounting principles gaap

If you were given complete authority, how would you propose that generally accepted accounting principles (GAAP) should be developed and enforced in comparison with how the principles are now developed? What issues do you see with the way the curr..

  On april 1 2010 backspace corporation issued 2000000 6

on april 1 2010 backspace corporation issued 2000000 6 10-year bonds at 95. the bonds pay interest each october 1 and

  T-account how do you know whether an account has a credit

t-account how do you know whether an account has a credit balance or a debit balance? give an example.also give

  Double declining balance depreciation

if we choose double declining balance depreciation rather than straight-line, depreciation expense in the first two years of this asset's life will be lower

  Selling and administrative expense budgets

The selling and administrative expense budget of Fenley Corporation is based on the number of units sold, which are budgeted to be 2,500 units in January. Prepare the selling and administrative expense budget for January.

  What is the materials price and quantity variance

High Sounds manufactures wind chimes that have a standard material cost of 2 pounds of raw materials at $1.50 per pound. During March, 10,000 pounds of raw materials costing $1.55 per pound were used in making 4,800 wind chimes. What is the (1) ma..

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