User Account

All Pages

Spandella company purchased 175000 shares of filington

Assignment Help Cost Accounting
Reference no: EM13969218

On January 4, 2016, Spandella Company purchased 175,000 shares of Filington Company directly from one of the founders for a price of $30 per share. Filington has 500,000 shares outstanding, including the shares acquired by Spandella Company. On July 2, 2016, Filington paid $620,000 in total dividends to its shareholders. On December 31, 2016, Filington reported a net income of $1,050,000 for the year. Spandella uses the equity method in accounting for its investment in Filington.

What is the Journal Entry?

Reference no: EM13969218

Questions Cloud

Describe what you think are the top three social problems : Define and describe what you think are the top three social problems in the United States at the present time.
The traditional waterfall method : The Traditional Waterfall Method/Model has been much maligned. As the online lesson states, it's a VERY common engineering project management approach, and it's also favored by the old-school project managers (the PMI's PMP is built around it). It's ..
Principles of agribusiness finance : 1. Which one of the following entities is considered a legal "person"? 3. Which one of the following best describes the liability a general partner has for the partnership debts?
What leadership qualities did coaches demonstrate to be able : Using Coach Boone or Yoast as an example, identify situations where either man demonstrated the four functions of management (planning, organizing, leading, and controlling).
Spandella company purchased 175000 shares of filington : On January 4, 2016, Spandella Company purchased 175,000 shares of Filington Company directly from one of the founders for a price of $30 per share. Filington has 500,000 shares outstanding, including the shares acquired by Spandella Company. On July ..
What is constructive conflict and relationship conflict : What is constructive conflict and relationship conflict and their differences? How do you apply constructive conflict into relationship conflict?
Write about your opinion about advertisements : Write about your opinion about advertisements in last weekend in Super Bowl from marketing aspects. Do you think they are worhy
What do you feel tangle wood should do if it wants to find : After summarizing the overall results of the staffing system, what do you feel Tangle wood should do if it wants to find good candidates?
Prepare an engineering report for the given abstract : Prepare an engineering report for the following abstract. This report is based on the four tests which were carried out on the laboratory to help gain concepts in Highway Engineering.

Reviews

Write a Review

Cost Accounting Questions & Answers

  Miller cereals is a small milling company

Miller Cereals is a small milling company that makes a single brand of cereal.

  What are the two methods of accounting for cash discounts

What are the two methods of accounting for cash discounts?

  Determine the total fixed cost per month

Determine the total fixed cost per month

  Cost of goods sold, ending inventory and gross profit

Cost of goods sold, ending inventory and gross profit

  Compute the overhead allocation rates for each department

Compute the overhead allocation rates for each department using direct labor hours as a basis. Management wants to know how much the Toyota commercial job cost.

  What the company net income

In the case of recording an expense for financial gain on my part, this would violate the principle of neutrality. It also would violate the principle of validity.

  This is a project due by the 18th of april get a magazine

this is a project due by the 18th of april. get a magazine newspaper etc. online or otherwise choose an article

  Why is the salary cost not relevant to calculation

The salary cost of the company's developers is not used in the "good enough" calculation. Why is that cost not relevant?

  Augie purchased one new asset through the year 5 year asset

augie purchased one new asset through the year 5 year asset on 11102013 cost 750k. she made the 179 election. the

  Arrange the cost data into a statement of cost of goods

Arrange the cost data into a statement of cost of goods manufactured - Prepare a correct presentation, using the indirect approach.

  Determine the firm''s operating income

Which of the following will cause income determined with absorption costing to be higher than income determined with direct costing - An excess of cost of goods manufactured over cost of goods sold for the period represents

  Evaluate return on investment

Supplementary office equipment costing $600 was purchased on credit from Discount Computer Corporation.

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