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Question - On January 1, 2020, X Company purchased 25% (25,000 shares) for $250,000 of the outstanding common shares of Y Company but was unable to obtain significant influence over Y as 8 members of the Board of Directors were from companies other than the X Company. The shares of X were trading at $10.00/share at this time. On September 1st. 2020, X purchased another 35% (35,000 shares) for $385,000 of the Y Company and thereby obtained voting control over the Y Company. Y appointed 7 members to the Board of Directors. The shares of Y were trading at $12.00/share at this time and $14/share at the year end. Y reported Net Income of $120,000 for the year and paid dividends of $60,000 for the year. The income and dividends were earned and paid evenly over the year.
If X used the cost method to record the investment what is the balance in the investment account at December 31st. 2020?
If X switched to recording the investment in Y as of September 1st. 2020, what is the balance in the investment account at December 31st., 2020?
Consider the various tools and techniques used by managerial consultants discussed. Which do you feel would be best applied in your current (or a former)
Class, let's begin by discussing the internal control issues that are related to cash. What makes cash control different than control over any other asset?
Equipment - 5 year remaining life BV: 250,000 FMV: 300,000. Prepare Consolidated Journal Entries for December 31, 2021
the company uses a single department production process. materials are added at the start of the production process
On 1 July 2019, Fisher Ltd decides to lease a cargo ship from XFinance Ltd. Make the entries for the lease in the books of XFinance Ltd
Prepare a maximum informal memo and explain to Ms. Skaros why her production cost report showed only 2,000 equivalent units in ending inventory.
Using the balance sheet and income statement, how do you calculate the depreciation expense for each $100 dollars invested in new equipment?
Discuss the assumptions that are inherent in production setup cost, ordering cost, and carrying costs. How valid are they? Explain in detail.
riegel company uses the lower-of-cost-or-market method on an individual-item basis in pricing its inventory items. the
Prepare a differential analysis on January 12, 2012, as to whether Kincaid Company should lease (Alternative 1) or sell (Alternative 2) the equipment
What amount should Dragon Company report in its December 31, 2018 balance sheet related to its non-current investment for bond sinking fund requirements?
Determine the corporation's income tax liability. Assume that all corporations use a calendar year for tax purposes and that the tax year involved is 2019
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