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The Evanston Company acquired a 25% interest in Straw Enterprises for $8,000,000 and appropriately applied the equity method. During the first year, Straw reported net income of $1,060,000 and paid cash dividends totaling $100,000.
What amount will The Evanston Company report regarding its Straw investment at the end of the first year on its Income Statement?
Investment earnings totaling $265,000
Dividend income totaling $25,000
Investment earnings totaling $250,000
Net investment earnings totaling $225,000
Sells Corporation acquired 45 percent of the common shares of Peat Company on January 1, 2010 for $1,125,000 in cash. On this date the net book value of Peat was $2,000,000. Prepare the journal entries to record the investment by Sells Corporation in..
Prepare all of Delta's journal entries for the above transactions. Delta uses a periodic inventory system and calculate Delta's net purchases
On January 29, Quality Marble Inc., a marble contractor, issued for cash 75,000 shares of $10 par common stock at $23, and on May 31, it issued for cash 100,000 shares of $4 par preferred stock at $6. Illustrate the effects on the accounts and financ..
Manufacturing overehad has an over allocated balance of 7500, raw materials inventory of 62000 works in process of 34000 finished goods of 25000 and a Cost of goods sold is 135000. After adjusting for the over allocated manufacturing overhead what is..
Evaluate the operating income for every division if the transfer price is set at $9 per cord.
What is bad debts expense? How can it be avoided? There are two ways to compute bad debts expense. Select one of the methods and in your own words explain either the % of sales method of the % of accounts receivable/aging method. Hint: Consider using..
Economic analysis of small-scale cogeneration. You are considering an investment in three 60-kW micro turbines that generate both electricity and DHW, for a large apartment complex. The micro turbines will displace output from the existing natural ga..
Jackson and Campbell have capital balances of $100,000 and $300,000, respectively. Jackson devotes full time and Campbell one-half time to the business. Determine the division of $150,000 of net income under each of the following assumptions:
the married-joint tax brackets and the corporate tax brackets, find out how much current tax this strategy could save Orie and Jane
If you put $500 in a savings account today at 12% interest, what will it be worth in 5 years? Hint: This is a future value problem! Calculator keystrokes: 500 press PV 12 press i 5 press n to solve ___ press FV 1-a) Try the same problem compounding i..
he used the car 80% of the time for business and 20% for personal use. jon used the satutory percentage method of cost recovery. calculate total deduction jon may take for 2011 with respect to the car.
Which of the following would most likely not be depreciated or amortized using the straight-line method?
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