Rich inc acquired 30 of doane corps voting stock on january

Reference no: EM13599880

Rich, Inc. acquired 30% of Doane Corp.'s voting stock on January 1, 2010 for $400,000. During 2010, Doane earned $160,000 and paid dividends of $100,000. Rich's 30% interest in Doane gives Rich the ability to exercise significant influence over Doane's operating and financial policies. During 2011, Doane earned $200,000 and paid dividends of $60,000 on April 1 and $60,000 on October 1. On July 1, 2011, Rich sold half of its stock in Doane for $264,000 cash.

What should be the gain on sale of this investment in Rich's 2011 income statement?

Reference no: EM13599880

Questions Cloud

Data for assembly department for april 2012 are what amount : data for assembly department for april 2012 are work in process beginning inventory--------400 units direct materials

Calculate the variable costs fxed costs and mixed costs : a department of omega co. incurred the following costs for the month of july. variable costs and the variable portion

Hunter sobitson a waiter at the 20th hole restaurant worked : hunter sobitson a waiter at the 20th hole restaurant worked 43 12 hours this week and collected over 650 in tips. the

Discuss the reasons why corporations invest in securities : discuss the reasons why corporations invest in securities. discuss how the market would be affected if they stopped

Rich inc acquired 30 of doane corps voting stock on january : rich inc. acquired 30 of doane corp.s voting stock on january 1 2010 for 400000. during 2010 doane earned 160000 and

Company a had a total deletable capitalized cost of 656000 : company a had a total deletable capitalized cost of 656000 for a mine acquired in early 2010. it was estimated that the

What amount of unrealized loss on these securities should : on its december 31 2010 balance sheet calhoun company appropriately reported a 10000 debit balance in its securities

Lets assume that you have been asked to calculate : lets assume that you have been asked to calculate risk-based capital ratios fro a bank with the following accounts

The distribution of cashenter any balance deficiencies as : prepare a statement of partnership liquidation indicating a the sale of assets and division of loss b the payment of

User Account

All Pages