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Question - Kim, Inc. acquired 30% of Carne Corp.'s voting stock on January 1, 2012 for $360,000. During 2012, Carne earned $150,000 and paid dividends of $90,000. Kim's 30% interest in Carne gives Kim the ability to exercise significant influence over Carne's operating and financial policies. During 2013, Carne earned $180,000 and paid dividends of $60,000 on April 1 and $60,000 on October 1. On July 1, 2013, Kim sold half of its stock in Carne for $237,000 cash. Before income taxes, what amount should Kim include in its 2012 income statement as a result of the investment?
a. $27,000.
b. $45,000.
c. $90,000.
d. $150,000.
If production and sales are budgeted to change 100 chairs in August, how much is the expected total variable cost on the August budget?
An alumnus of a small university donated $150,000 to establish a permanent endowment for scholarships. The first scholarships were awarded 5 years after the money was donated.
Each units of finished product requires four pounds of raw material at a cost of $1.40 per pound. There are 140,000 pounds of raw material in inventory on June 30. Compute the company's total required production in units of finished product for t..
Wade's outstanding stock consists of 40,000 shares of noncumulative 7.5% preferred stock with a $10 par value and also 100,000 shares of common stock with a $1 par value.
a. Prepare a statement of changes in net worth for the year ended December 31, 2008. b. Comment on the statement of changes in net worth.
A cash basis calendar year C corporation in Athens, Georgia, had $100,000 of accounts receivable on the date of its conversion to an S corporation on February 14. By the end of the year, $60,000 of these receivables had been collected. Calculate a..
purposes of the statement of cash flow, classify each of these transactions as an operating, investing, or financing activity. Additionally, indicate whether the activity is an inflow of cash or an outflow of cash.
wall street journal indicating that companies are selling their receivables at a record rate. discuss the reasons why a
Accounting for Income Taxes-Company accounting policies: 1. Mr.Speakers rounds all transactions to the nearest dollar.
Cruz Company uses LIFO for inventory costing and reports following financial data. It as well recomputed inventory and cost of goods sold using FIFO for comparison purposes.
eestan corporation uses a predetermined overhead rate of 22.30 per direct labor-hour. this predetermined rate was based
What are the hallmark features of the Ashton school as explicitly noted or inferred in Watkins' conversation with Martino
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