What investment value will be reflected on balance sheet

Assignment Help Financial Accounting
Reference no: EM132858683

Problem - Phillips Corporation purchased 1,000,000 shares of Martin Corporation's common stock which constitutes 10% of Martin's voting stock on June 30, 2010 for $42 per share. Phillips' intent is to keep these shares beyond the current year. On December 20, 2010, Martin paid a previously declared $4,000,000 cash dividend. On December 31, Martin's stock was trading at $45 per share and their reported 2010 net income was $52 million. What investment value will be reflected on Phillips' balance sheet at December 31, 2010?

Reference no: EM132858683

Questions Cloud

Describe the process of setting objectives : Define strategic objectives define mission/vision statement, and explain its relationship with strategic objectives.
Calculate the multiple-step income statement : Income statement information for ying-wai corporation for the year September 31, 2020 follows: Calculate the multiple-step income statement
Impacting the business of ford motor company : Please can you explain in detail the environmental factors of the PISTEL analysis impacting the business of FORD Motor Company?
Are brazilians hispanics : -Would the Cher Fan Club be a primary or secondary reference group?
What investment value will be reflected on balance sheet : Martin's stock was trading at $45 per share and their reported 2010 net income was $52 million. What investment value will be reflected on Phillip balance sheet
Creation of a motivating environment : As a leader, how can you ensure that you leverage diversity for increased productivity and creation of a motivating environment rather than hire, interact, and
Why international business is important : Describe or discuss why international business is important?
List three pieces of legislation : List three pieces of legislation that are related to performance management.
Find the annual desired income : How much money does Simone need to accumulate by her date of retirement to provide for her annual desired income?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd