User Account

All Pages

What portion of the advance should be eliminated

Assignment Help Accounting Basics
Reference no: EM132743526

Question: Poe Company owns 70% of Sage Corporation's outstanding common stock. On May 1, 20x5, Poe advanced Sage $80,000 in cash, the debt of which was still outstanding at December 31, 20x5. What portion of this advance (if any) should be eliminated in the preparation of the 12/31/x5 consolidated balance sheet?

Reference no: EM132743526

Questions Cloud

Prepare the journal entry for maturity of bonds on December : The annual contract rate is 8%, and interest is paid semiannually on June 30 and December 31. Prepare the journal entry for maturity of bonds on December
What is the face value of bond : The bond has monthly coupon payments of $12 and is currently selling at $3,617. 062 What is the face value of this bond?
Compare a flexible budget and a static budget : Compare a flexible budget and a static budget. Recommend which budget would be appropriate for Apple Inc. Provide support for your recommendation
Make a flowchart for the telephone-ordering process : Make a flowchart for the telephone-ordering process at a retail chain that specializes in selling books and music CDs. It provides an ordering system
What portion of the advance should be eliminated : Poe Company owns 70% of Sage Corporation's outstanding common stock. On May 1, 20x5, Poe advanced Sage $80,000 in cash, the debt of which was still outstanding.
Calculate the present and future value : Suppose that a company now has the opportunity to spend $ 15,000 on some investment. Calculate the present and future value
Which supplier should russell company choose : Calculate the activity rate for each activity. Russell Company uses Beltran Company and Southern Express Inc. to buy the electronic chip used
Would you expect the interest rate on the bonds : If you, as an individual investor, purchase tax-exempt state or local bonds, would you expect the interest rate on those bonds to be higher, or lower.
How much of a down payment can they afford to make : How much of a down payment can they afford to make on their new house? (Hint: First find the monthly payments on their Ottawa house.)

Reviews

Write a Review

Accounting Basics Questions & Answers

  Aicpa code of professional conduct for audit fee

In which one of the following situations would a CPA be in violation of the AICPA Code of Professional Conduct in determining the audit fee?

  Common proportional share

Andrews Company has $80,000 available to pay dividends. It has 2,000 shares of 10%, $100 par, preferred stock and 30,000 shares of $10 par common stock outstanding.

  Specific operational areas

Assume you are opening a small food outlet across the street from your campus. How might that business be operated under each of the two broad strategies? Consider the following specific operational areas:

  Prepare the statement of retained earning for the year

Prepare the statement of retained earning for the year ended December

  Journalize the transactions and post to the accounts

Journalize the transactions and post to the accounts Debt Investments and Stock Investments. (Use the T-account form.)

  Explain the impact that a companys code of conduct can hav

Evaluate the impact that a company's code of conduct can have on promoting positive employee behavior, improved decision making, or the willingness to report unethical behavior of coworkers.

  What is a line of credit

Bank loans often are arranged under existing lines of credit. What is a line of credit? How does a noncommitted line of credit differ from a committed line?

  On december 31 2004 the account unearned rent revenue had a

on december 31 2004 the account unearned rent revenue had a balance of 3300 on the books of joliet corporation after

  What amount of sales will be necessary to earn profit

CMA, Inc. produces a product that has a variable cost of $2.50 per unit. What amount of sales will be necessary to earn the desired profit

  Determine the price of the bonds issued

McWherter Instruments sold $540 million of 10% bonds, dated January 1, on January 1, 2018. The bonds mature on December 31, 2037 (20 years).

  Why is character of gain or loss on a disposition important

Why is the character of a gain or loss on a disposition important? What are the three types of recognized gains or losses that determine their taxation?

  Discuss amortization of any bond premium or discount

Use the straight line method of amortization of any bond premium or discount

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