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Question - Masterson paid $205,000 for 40% of the shares of McGuire. Masterson exerts significant influence over McGuire. Prepare journal entries to record the following:
1. McGuire reported earnings of $60,000 during the year.
2. McGuire paid dividends of $14,000 during the year.
3. What amount would Masterson report on its balance sheet as investment in McGuire. (Hint: Use a "T" account to help you answer this question)
4. Masterson sold its entire investment in McGuire for $230,000.
Question - Calculate the amortization of this exercise: On October 1, 2020, ABC issued bonds with a principal (maturity value) of $ 500,000
On August 30, Zentric Corporation issued for cash 9,000 shares of preferred 2% stock, $55 par at $60. Make the entries to record the January
ertified public accountants have imposed on themselves a rigorous code of professional conduct.1. discuss the reasons
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What are Horatio's new payments for the remaining 27 years? Assume the interest rate remains the same as in Q1.
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Under the reporting model required by GASB Statement 34, fund statements are required for governmental, proprietary, and fiduciary funds. Government-wide statements include the Statement of Net Assets and Statement of Activities. Answer the follow..
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