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Question - Panthers Corp. purchased 8,000 shares of Canes Corp. for $100 per share on August 1, 2019. As per IFRS 9, Panthers chose to classify this new investment as FVOCI at the time of the purchase. On November 1, 2019 Canes paid a dividend of $2 per share. At balance sheet date the market price of Canes was $90 per share. On March 1, 2020 Panthers sold all 8,000 shares for $105 per share. Prepare the journal entries required under GAAP?
Sales to Doone amounted to $390,000 in 2017 and $490,000 in 2018. What is the noncontrolling interest's share of Rockne's 2018 income
five hundred shares of stock were originally purchased for 30 per share and are being held as trading securities. the
An employer having an experience based unemployment tax rate of 3.2% in a state having a standard unemployment tax rate of 5.4% may take a credit against a 6.2% federal unemployment tax rate of
Calculate at what purchase price supplier Green Industries will break-even to produce 800 units with a variable cost of $25 and fixed cost of $12,000.
the chadmark corporations budgeted monthly sales are 3000. in the first month 40 of its customers pay and take the 2
What is the number equivalent units of production for ending work-in-process as to material
1. Dividends may be declared and paid in cash or stock. 2. Cash dividends are not a liability of the corporation until they are declared by the board of directors.
What is the maximum EIC credit a taxpayer with two qualifying children can take in 2018 assuming the taxpayer meets all the qualifying tests
dill enterprises pays 243200 for equipment that will last five years and have a 54286 salvage value. by using the
The aspect least likely to be included in the portfolio management process is: -A clearly written investment policy statement is critical for:
If an election is available and is made to use alternate valuation for federal estate tax purposes, then if a parcel of real estate owned by the decedent is sold within six months after the decedent's death, the parcel of real estate is valued for..
In its first month of operations, Giffin Company made three purchases of merchandise in the following sequence: (1) 220 units at $5, (2) 320 units at $7, and (3) 420 units at $8. Assuming there are 120 units on hand at the end of the period.
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