User Account

All Pages

Prepare the journal entries for duffy dog services

Assignment Help Accounting Basics
Reference no: EM132556330

Question - Duffy Dog Services Ltd. acquired 30% of the common shares of Bella Roma Ltd. on January 1, 2018, by paying $3,510,000 for 189,000 shares. Bella Roma declared a $0.50-per-share cash dividend in each quarter that was received on March 15, June 15, September 15, and December 15. Bella Roma reported net income of $2,140,000 for the year. At December 31, the market price of the Bella Roma shares was $18 per share.

Required -

1. Prepare the journal entries for Duffy Dog Services for 2018, assuming Duffy Dog cannot exercise significant influence over Bella Roma and uses the fair value through profit or loss model.

2. Prepare the journal entries for Duffy Dog Services for 2018, assuming Duffy Dog can exercise significant influence over Bella Roma and uses the equity method.

3. Prepare the journal entries for Duffy Dog Services for 2018, assuming that the company reports under ASPE and has chosen to account for its investment using the cost model.

Reference no: EM132556330

Questions Cloud

Security measure : Does it follow that the security measure should be discontinued because it is not cost-effective
Discuss the seven benefits to the police and community : Briefly discuss the seven benefits to the police and community when good relations exist. Which do you feel is the most important, and why?
Compute the adjusted balance of cash : A Koala Company check of $1,030 was charged to Bell Company's account. Compute the adjusted balance of Cash per bank statement
Calculate the ratio values used for the banks covenant : Citizens Bank has just received draft financial statements from ABC Wholesalers, Calculate the ratio values used for the banks covenant
Prepare the journal entries for duffy dog services : Prepare the journal entries for Duffy Dog Services for 2018, assuming Duffy Dog cannot exercise significant influence over Bella Roma
Private security industry may enforce criminal law : The private security industry may enforce criminal law but it is restricted by civil law. How is this possible? Do you agree? Why or why not?
Security countermeasure costs : The loss being protected against for a given period, does it follow that the security measure should be discontinued because it is not cost-effective?
Plea-bargaining and the jury system : What is plea-bargaining and what is its purpose? What are some of the problems associated with plea-bargaining?
Understanding conflict theory : In understanding conflict theory, discuss how this impacts the officer's decision to arrest or not arrest individuals based on social class.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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