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Problem - Scott co paid 2,800,000 to acquire all of the common stock of dawn corp on january 1, 2020. Dawns reported earnings for 2020 totaled $512,000 and it paid $160,000 in dividends during the year. The amortization of allocations related to the investment was $28,000. Scott's net income, not including the investment was $3,310,000, and it paid dividends of $950,000. On the consolidated financial statements for 2020, what amount should have been shown for the equity in subsidiary earnings?
Indicate the appropiate action the auditor should take for each of the following independent responses to the letter of audit inquiry
Prepare a Statement of Cash Flows for the Village of Parry Print Shop Fund for the Year Ended April 30, 2009
Based on industry experience, warranty costs are estimated at 2% of sales in the year of sale, What amount should Waterway report as liability at December
Assume you work as an assistant accountant in the head office of Netflix. With the increasing popularity of online movie streaming, your company has struggled to meet its earnings targets for the year due to the high cost of creating programming ..
Lambda Corporation has current liabilities of $424,000, a quick ratio of 1.6, What is the cost of goods sold for Lambda Corporation
n is a sole proprietor of a business. in the current year the business had gross income of 15000 and operating expenses
Ethics in Business and Accounting Question - What is Rawl's Theory of Justice? What is Rawl's original position? What is Rawl's veil of ignorance
During the current tax year, Doug incurs the following deductible expenses: State Income Tax $2,300
Prepare the entries on Lawton Co.'s books related to the transactions that occurred on January 10, February 12, and March 10. (Omit cost of goods sold entries.)
Income tax expense has not yet been accrued. The income tax rate is 40%. Prepare a single-step income statement for 2011
For Baxter Company, variable costs are 68% of sales, and fixed costs are $175,900. Compute the required sales in dollars needed
Calculate the diluted earnings per share for Mayfair Enterprise?Calculate the basic earnings per share for Mayfair Enterprises for 2016. HINT: For basic EPS
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