Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
As a long-term investment at the beginning of the fiscal year, Joey Co. purchased 30% of Legoria Supplies, Inc.’s 8 million shares for $56 Million. The fair value and book value of the shares were the same at that time. During the year, Legoria Supplies Inc. earned net income of $40 million and distributed cash dividends of $1.25 per share. At the end of the fiscal year, the fair value of the shares acquired by Joey Co. is $60 million. Joey Co’s 30% investment in Legoria Supplies Inc gives it significant influence.
Required:
1) Prepare appropriate the appropriate journal entry(s) throughout the fiscal year for this investment using the Equity Method.
2) Prepare the journal entry(s) throughout the fiscal year if Joey Co. elects the “Fair Value Option” for this investment rather than the Equity Method.
It had a useful life of 10 years. On January 1, 2012, ELO spent 44,000 to successfully defend the patent in a lawsuit. ELO feels that as of that date, the remaining useful life is 5 years. Illustrate what amount should be reported for patent amort..
concept of depreciation of plant assets through short questions.1.nbspfor income statement purposes depreciation is a
What does it mean to have gene cluster that code for globin proteins that compose Hemoglobin? How does this related to Hemoglobinopathies?
the SEC’s Division of Corporate Finance, illustrate what comments may Danle expect to receive regarding its disclosure in that period? Discuss the basis for the comments you have identified
A product sells for $200 per unit, and its variable costs per unit are $130. The fixed costs are $420,000. If the firm wants to earn $35,000 pretax income, how many units must be sold?
Computation of Common stock dividend - preferred stock is not cumulative, common stockholders should receive total 2008 dividends of?
a company has had 10000 shares of 10 percent 100 par-value preferred stock and 80000 shares of 5 stated-value common
The company is faced with the option of when to harvest the lumber. Whatever harvest cycle the company chooses, it will follow that cycle in perpetuity. Since the forest was planted 20 years ago, the options available in the case are 40-, 45-, 50, an..
Midwest Fabricators Inc. is considering an investment in equipment that will replace direct labor. The equipment has a cost of $132,000 with a $16,000 residual value and a 10-year life. The equipment will replace one employee who has an average wage ..
Figure out the subsequent Tax Implications for BB, Meaningful, American Red Cross, The Partnership and the Government. Income Tax and Gift Tax
question mel oconner owns rental properties in michigan. each property has a manager who collects rent arranges for
Astromet is financed entirely by common stock and has a beta of 2.00. The firm pays no taxes. The stock has a price-earnings multiple of 11.0 and is priced to offer a 10.1% expected return. The company decides to repurchase half the common stock.
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd