Homework Answers
| Value of Investment in Evan Company on Jan 01, 2017= | $706,000 | |
| Add: Share in Net income 206,000*40% for 2017 | $82,400 | |
| Less: Dividend paid 110,000*40% for 2017 | -$44,000 | |
| Carrying value of investments as on 31 Dec. 2017 | $744,400 | |
| Add: Share in Net income 206,000*40% for 2018 | $82,400 | |
| Less: Dividend paid 110,000*40% for 2018 | -$44,000 | |
| Carrying value of Investments as on 31 Dec. 2018 | $782,800 | |
| Add: Share in Net income 206,000*40% for 2019 | $82,400 | |
| Less: Dividend paid 110,000*40% for 2019 | -$44,000 | |
| Carrying value of investments as on 31 Dec. 2019 | $821,200 |
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Problem 1-9 (LO 1-3, 1-4) Evan Company reports net income of $206.000 each year and declares...
Evan Company reports net income of $205,000 each year and declares an annual cash dividend of...
Evan Company reports net income of $205,000 each year and declares an annual cash dividend of $100,000. The company holds net assets of $1,320,000 on January 1, 2017. On that date, Shalina purchases 40 percent of Evan's outstanding common stock for $718,000, which gives it the ability to significantly influence Evan. At the purchase date, the excess of Shalina's cost over its proportionate share of Evan's book value was assigned to goodwill. On December 31, 2019, what is the Investment...
Evan Company reports net income of $152,000 each year and declares an annual cash dividend of...
Evan Company reports net income of $152,000 each year and declares an annual cash dividend of $60,000. The company holds net assets of $1,210,000 on January 1, 2017 On that date, Shalina purchases 40 percent of Evan's outstanding common stock for $701,000, which gives it the ability to significantly influence Evan. At the purchase date, the excess of Shalina's cost over its proportionate share of Evan's book value was assigned to goodwill. On December 31, 2019, what is the Investment...
just need the answer and work shown for question 4 please AlphaBeta Co. Company reports net...
just need the answer and work shown for question 4 please
AlphaBeta Co. Company reports net income of $192,000 each year and declares an annual cash dividend of $90,000. The company holds net assets of $1,830,000 on January 1, 2014. On that date, Rebecca purchases 40 percent of the outstanding stock for 5862,000, which gives it the ability to significantly influence AlphaBeta Co.. At the purchase date, the excess of Rebecca's cost over its proportionate share of AlphaBeta Co.'s book...
8 to 11? could you also write a solution The Equity Method of Accounting for Investments...
8 to 11? could you also write a solution
The Equity Method of Accounting for Investments 29 8. Franklin purchases 40 percent of Johnson Company on January 1 for $500,000. Although did not use it, this acquisition gave Franklin the ability to apply sinificant influence to Johnson operating and financing policies. Johnson reports assets on that date of $1.400,000 with lat of $500,000. One building with a seven-year remaining life is undervalued on Johnson's books $140,000. Also, Johnson's book value...
Exercise 13-16 Earnings per share LO A1 Ecker Company reports $2,700,000 of net income and declares...
Exercise 13-16 Earnings per share LO A1 Ecker Company reports $2,700,000 of net income and declares $388,020 of cash dividends on its preferred stock for the year. At year-end, the company had 678,000 weighted average shares of common stock. 1. What amount of net income is available to common stockholders? Net income To preferred stockholders Net income available to common stockholders 2. What is the company's basic EPS? Basic Earnings per Share Choose Denominator: Choose Numerator: Basic Earnings per Share...
TunaCo purchases 25% of Stanley, Inc. on January 1 of the current year for $505,000. This...
TunaCo purchases 25% of Stanley, Inc. on January 1 of the current year for $505,000. This acquisition gives TunaCo the ability to significantly influence Stanley's operating and financing policies. Stanley reports assets on that date of $1,600,000 with liabilities of $400,000. One building with a 15-year remaining life has a book value of $100,000 and a fair market value of $400,000. Any remaining excess must be Goodwill. During the current year, Stanley reports net income of $140,000 while paying dividends...
O Exercise 11-17 Earnings per share LO A1 Kelley Company reports $1,475,000 of net income and...
O Exercise 11-17 Earnings per share LO A1 Kelley Company reports $1,475,000 of net income and declares $206,500 of cash dividends on its preferred stock for the year. At year-end, the company had 370,000 weighted average shares of common stock 1. What amount of net income is available to common stockholders? Book Net income To preferred stockholders Net income available to common stockholders S Print orongo 2. What is the company's basic EPS? Basic Eamings per Share Choose Denominator: Choose...
-ms Problem 1-31 (LO 1-1, 1-2, 1-3, 1-4, 1-5d) On January 1, 2017, Fisher Corporation purchased...
-ms Problem 1-31 (LO 1-1, 1-2, 1-3, 1-4, 1-5d) On January 1, 2017, Fisher Corporation purchased 40 percent (74.000 shares) of the common stock of Bowden, Inc. for $976,000 in cash and began to use the equity method for the investment. The price paid represented a $60,000 payment in excess of the book value of Fisher's share of Bowden's underlying net assets. Fisher was willing to make this extra payment because of a recently developed patent held by Bowden with...
Problem 1-8 (LU 1-3, 1-4) 00 Franklin purchases 40 percent of Johnson Company on January 1...
Problem 1-8 (LU 1-3, 1-4) 00 Franklin purchases 40 percent of Johnson Company on January 1 for $617,100. Although Franklin did not use it, this acquisition gave Franklin the ability to apply significant influence to Johnson's operating and financing policies. Johnson reports assets on that date of $1,515,000 with liabilities of $548,000. One building with a seven-year remaining life life is undervalued on Johnson's books by $243,250. Also, Johnson's book value for its trademark (10-year life) is undervalued by $332,500....
Problem 1-8 (LU 1-3, 1-4) 00 Franklin purchases 40 percent of Johnson Company on January 1...
Problem 1-8 (LU 1-3, 1-4) 00 Franklin purchases 40 percent of Johnson Company on January 1 for $617,100. Although Franklin did not use it, this acquisition gave Franklin the ability to apply significant influence to Johnson's operating and financing policies. Johnson reports assets on that date of $1,515,000 with liabilities of $548,000. One building with a seven-year remaining life life is undervalued on Johnson's books by $243,250. Also, Johnson's book value for its trademark (10-year life) is undervalued by $332,500....
Evan Company reports net income of $205,000 each year and declares an annual cash dividend of $100,000. The company holds net assets of $1,320,000 on January 1, 2017. On that date, Shalina purchases 40 percent of Evan's outstanding common stock for $718,000, which gives it the ability to significantly influence Evan. At the purchase date, the excess of Shalina's cost over its proportionate share of Evan's book value was assigned to goodwill. On December 31, 2019, what is the Investment...
Evan Company reports net income of $152,000 each year and declares an annual cash dividend of $60,000. The company holds net assets of $1,210,000 on January 1, 2017 On that date, Shalina purchases 40 percent of Evan's outstanding common stock for $701,000, which gives it the ability to significantly influence Evan. At the purchase date, the excess of Shalina's cost over its proportionate share of Evan's book value was assigned to goodwill. On December 31, 2019, what is the Investment...
just need the answer and work shown for question 4 please
AlphaBeta Co. Company reports net income of $192,000 each year and declares an annual cash dividend of $90,000. The company holds net assets of $1,830,000 on January 1, 2014. On that date, Rebecca purchases 40 percent of the outstanding stock for 5862,000, which gives it the ability to significantly influence AlphaBeta Co.. At the purchase date, the excess of Rebecca's cost over its proportionate share of AlphaBeta Co.'s book...
8 to 11? could you also write a solution
The Equity Method of Accounting for Investments 29 8. Franklin purchases 40 percent of Johnson Company on January 1 for $500,000. Although did not use it, this acquisition gave Franklin the ability to apply sinificant influence to Johnson operating and financing policies. Johnson reports assets on that date of $1.400,000 with lat of $500,000. One building with a seven-year remaining life is undervalued on Johnson's books $140,000. Also, Johnson's book value...
Exercise 13-16 Earnings per share LO A1 Ecker Company reports $2,700,000 of net income and declares $388,020 of cash dividends on its preferred stock for the year. At year-end, the company had 678,000 weighted average shares of common stock. 1. What amount of net income is available to common stockholders? Net income To preferred stockholders Net income available to common stockholders 2. What is the company's basic EPS? Basic Earnings per Share Choose Denominator: Choose Numerator: Basic Earnings per Share...
O Exercise 11-17 Earnings per share LO A1 Kelley Company reports $1,475,000 of net income and declares $206,500 of cash dividends on its preferred stock for the year. At year-end, the company had 370,000 weighted average shares of common stock 1. What amount of net income is available to common stockholders? Book Net income To preferred stockholders Net income available to common stockholders S Print orongo 2. What is the company's basic EPS? Basic Eamings per Share Choose Denominator: Choose...
-ms Problem 1-31 (LO 1-1, 1-2, 1-3, 1-4, 1-5d) On January 1, 2017, Fisher Corporation purchased 40 percent (74.000 shares) of the common stock of Bowden, Inc. for $976,000 in cash and began to use the equity method for the investment. The price paid represented a $60,000 payment in excess of the book value of Fisher's share of Bowden's underlying net assets. Fisher was willing to make this extra payment because of a recently developed patent held by Bowden with...
Problem 1-8 (LU 1-3, 1-4) 00 Franklin purchases 40 percent of Johnson Company on January 1 for $617,100. Although Franklin did not use it, this acquisition gave Franklin the ability to apply significant influence to Johnson's operating and financing policies. Johnson reports assets on that date of $1,515,000 with liabilities of $548,000. One building with a seven-year remaining life life is undervalued on Johnson's books by $243,250. Also, Johnson's book value for its trademark (10-year life) is undervalued by $332,500....
Problem 1-8 (LU 1-3, 1-4) 00 Franklin purchases 40 percent of Johnson Company on January 1 for $617,100. Although Franklin did not use it, this acquisition gave Franklin the ability to apply significant influence to Johnson's operating and financing policies. Johnson reports assets on that date of $1,515,000 with liabilities of $548,000. One building with a seven-year remaining life life is undervalued on Johnson's books by $243,250. Also, Johnson's book value for its trademark (10-year life) is undervalued by $332,500....
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