User Account

All Pages

What is the amount of consolidated net income

Assignment Help Accounting Basics
Reference no: EM131792181

Question - Cashen Co. paid $2,400,000 to acquire all of the common stock of Janex Corp. on January 1, 2009. Janex's reported earnings for 2009 totaled $432,000 and it paid $120,000 in dividends during the year. The amortization of allocations related to the investment was $24,000. Cashen's net income, not including the investment, was $3,180,000 and it paid dividends of $900,000.

1. On the consolidated financial statements, what amount should have been shown for Equity in Subsidiary Earnings?

A. $432,000

B. $-0-

C. $408,000

D. $120,000

E. $312,000

2. On the consolidated financial statements, what amount should have been shown for consolidated dividends?

A. $900,000

B. $1,020,000

C. $876,000

D. $996,000

E. $948,000

3. What is the amount of consolidated net income?

A. $3,180,000

B. $3,612,000

C. $3,300,000

D. $3,588,000

E. $3,420,000

Reference no: EM131792181

Questions Cloud

How does innovation stimulate change : Find one piece of current valid supplemental material - explaining why it is relevant to our week's assigned readings - clearly integrate
Estimate the cost of rapp inventory at time of the theft : Rapp wishes to file an insurance claim for the theft loss. Using the gross profit method, estimate the cost of Rapp's inventory at the time of the theft
Define the mission or fundamental purpose of your team : Teams that effectively share leadership typically begin by agreeing to a common goal and how it will be achieved.
Employees-managers intensely dislike performance appraisals : Most employees and managers intensely dislike performance appraisals.
What is the amount of consolidated net income : Cashen Co. paid $2,400,000 to acquire all of the common stock of Janex Corp. on January 1, 2009. What is the amount of consolidated net income
Evaluate issues in the current environment : Evaluate issues in the current environment that affect the demand for and supply of engineering and technical personnel.
Create a questionnaire for parents in your program : Create a questionnaire for parents to complete upon enrolling their child in your program or classroom. Think of at least 10 questions that you might ask.
Making is associated with functional departmentalization : Slower decision making is associated with functional departmentalization.
Compare each of the given ratios for the foreign subsidiary : Compare each of the following ratios for the foreign subsidiary in its functional currency after translation to the same ratios in the local currency.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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