Russell owns 30 percent of the outstanding stock of thacker

Assignment Help Accounting Basics

Reference no: EM13585575

Russell owns 30 percent of the outstanding stock of Thacker and has the ability to significantly influence the investee's operations and decision making. On January 1, 2013, the balance in the Investment in Thacker account is $336,000. Amortization associated with this acquisition is $17,100 per year. In 2013, Thacker earns an income of $126,000 and pays cash dividends of $31,500. Previously, in 2012, Thacker had sold inventory costing $31,800 to Russell for $53,000. Russell consumed all but 25 percent of this merchandise during 2012 and used the rest during 2013. Thacker sold additional inventory costing $39,200 to Russell for $70,000 in 2013. Russell did not consume 40 percent of these 2013 purchases from Thacker until 2014.

Reference no: EM13585575

Questions Cloud

What is the before- and after-closing balance in the : valmont inc. experienced the following events in 2013 its first year of operation 1. received 50000 cash from the issue

A researcher wants to estimate at a 99 confidence level the : a researcher wants to estimate at a 99 confidence level the mean age of all persons who own sports cars. it is known

For each of the following situations say what energy : 1. for each of the following situations say what energy transformation occurs and draw an energy bar chart.a a car

You need to supply information about projected ticket sales : suppose you are an event coordinator for a large performance theater. one of the hottest new broadway musicals has

Russell owns 30 percent of the outstanding stock of thacker : russell owns 30 percent of the outstanding stock of thacker and has the ability to significantly influence the

The crate shown is held against wedge b by a spring the : the crate shown is held against wedge b by a spring. the spring is 96.0 of its original uncompressed length l2.75m and

The attorney also charges in addition to the 22 a flat fee : earl miller a lawyer charges lees plumbing his client 22 of what he can collect for lee from customers whose accounts

What sort of difficulty can you imagine the manager of an : what sort of difficulty can you imagine the manager of an organization would be in if the organization did not

The investment represents a 30 interest in the net assets : on january 4 2013 runyan bakery paid 350 million for 10 million shares of lavery labeling company common stock. the

User Account

All Pages