User Account

All Pages

Prepare simmons entries related to armstrong net income

Assignment Help Accounting Basics
Reference no: EM131968962

Question - Immons Corporation owns stock of Armstrong, Inc. Prior to 2014, the investment was accounted for using the equity method. In early 2014, Simmons sold part of its investment in Armstrong, and began using the fair value method. In 2014, Armstrong earned net income of $80,900 and paid dividends of $96,800.

Prepare Simmons's entries related to Armstrong's net income and dividends, assuming Simmons now owns 10% of Armstrong's stock.

Reference no: EM131968962

Questions Cloud

By how much would the cost reduction improve the roe : Last year Urbana Corp. had $212,500 of assets, $307,500 of sales, $19,575 of net income, and a debt-to-total-assets ratio of 37.5%.
Calculate what is the firms tax liability : Last year, Western Corporation had sales of $5 million, cost of goods sold of S3 million, operating expenses of $175,000 and depreciation of $125,000.
Probability that none of the people will make a purchase : An e-commerce Web site claims that 8% of people who visit the site make a purchase. Complete parts a through e below based on a random sample of 15 people.
Calculate the earnings per share : Assume the Hamilton Corporation can earn 6.00 percent on the proceeds. Calculate the earnings per share.
Prepare simmons entries related to armstrong net income : Prepare Simmons's entries related to Armstrong's net income and dividends, assuming Simmons now owns 10% of Armstrong's stock
Availability of cash affects investment decision making : What do you think that the availability of cash affects investment decision making? And which references you based your answer on?
How is technological innovation impacting on malls : HND Business - Business Decision Making - Create a plan for collecting data from students across all campuses. - Design a questionnaire for collecting the data
Calculate the firms dividends per share ratio : Last year, Holland Tulip Inc. paid $21.92 million in common stock dividends. The company has 16.17 million shares outstanding.
Organizing into various organizational units : Begin the discussion by listing and examining the types of subgroups listed in the text. Then discuss the cultural differentiation of the subgroups.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Calculate the beta for chicago steel works

The change in the value of New England Electric Inc. over the last two years is as follows: Calculate the Beta for Chicago Steel Works? What does this mean

  Different information than static budgets

Flexible budgets provide different information than static budgets. Discuss some of these differences. Is a flexible budget always better? Are there times when you'd recommend using a static budget over a flexible budget?

  Why might a company prefer a foreign currency option

International Accounting focuses on foreign currency and hedging. Why might a company prefer a foreign currency option rather than a forward contract in hedging a foreign currency firm commitment?

  What will be the average cost

What will be the average cost to bake 4,000? (Do not round intermediate calculations. Round your final answer to 4 decimal places.)

  The first transaction has been completed as an example

Transactions that affect earnings do not necessarily affect cash. Identify the effect, if any, that each of the following transactions would have upon cash and net income.

  The parry co breakeven point is 20k units variable costs

the parry co breakeven point is 20k units. variable costs 30 fixed costs 100k.what is projected operating income if

  What is the definition of current assets

If your school has a subscription to the FASB Codification, go to FASB Codification's website to log in and prepare responses to the following.

  Define how much is the return on investment?

How much is the return on investment?

  What amount related to pension plan will be reported

At the end of the current period, Oxford Ltd. has a defined benefit obligation of $195,000 and pension plan assets with a fair value of $110,000.

  Calculating the present value of a single amount

ACCTG 375I - Lost Wages and Employment Litigation Homework. What is the mathematical formula for calculating the present value of a single amount

  Estimating the variable and fixed components of cost

Management believes that electrical cost is a mixed cost that depends on machine-hours. Using the high-low method to estimate the variable and fixed components of this cost, these estimates would be closest to:

  What is difference between a partnership and a corporation

What is the difference between a partnership and a corporation? What advantages does the corporate form have over the partnership form of business organization?

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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