Do not copy others answer, thank you.
Homework Answers
Add Answer to:
Do not copy others answer, thank you.
P2-19 Investments Carried at Fair Value and Equity Method...
Gant Company purchased 30 percent of the outstanding shares of Temp Company for $74,000 on January...
Gant Company purchased 30 percent of the outstanding shares of Temp Company for $74,000 on January 1, 20X6. The following results are reported for Temp Company: 20X6 20X7 20X8 Net income $ 41,000 $ 36,000 $ 53,000 Dividends paid 10,000 26,000 15,000 Fair value of shares held by Gant: January 1 74,000 93,000 90,000 December 31 93,000 90,000 101,000 Required: Determine the amounts reported by Gant as income from its investment in Temp for each year and the...
Gant Company purchased 20 percent of the outstanding shares of Temp Company for $71,000 on January...
Gant Company purchased 20 percent of the outstanding shares of Temp Company for $71,000 on January 1, 20X6. The following results are reported for Temp Company: 20x620x720X8 $45,000 $40,000 $62,000 13,000 29,000 18,000 Net income Dividends paid Fair value of shares held by Gant: January 1 December 31 71,000 90,000 90,000 87,000 87,000 98,000 Required: Determine the amounts reported by Gant as income from its investment in Temp for each year and the balance in Gant's investment in Temp at...
I am confused on how to solve for the fair value E2-6 Investment Income LO 2-2,...
I am confused on how to solve
for the fair value
E2-6 Investment Income LO 2-2, 2-3 Ravine Corporation purchased 40 percent ownership of Valley Industries for $115,200 on January 1, 20X6, when Valley had capital stock of $241,000 and retained earnings of $47,000. During the period of January 1, 20X6, through December 31, 20X9, the market value of Ravine's investment in Valley's stock increased by $12,000 each year. The following data were reported by the companies for the years...
(a) carrying the investment at FAIR VALUE please do not copy others answer, thank you. Chapter...
(a) carrying the investment at FAIR VALUE
please do not copy others answer, thank you.
Chapter 2 Reporting Intercorporate Investments and Consolidation of Wholly Owned Subsidiaries with No Differential 85 E2-4 Carrying an Investment at Fair Value versus Equity Method Reporting Winston Corporation purchased 40 percent of the stock of Fullbright Company on January 1, 20X2, at underlying book value. During the period of January 1, 20X2, through December 31, 20X4, the market value of Winston's investment in Fullbright's stock...
Ravine Corporation purchased 30 percent ownership of Valley Industries for $90,000 on January 1, 20X6, when...
Ravine Corporation purchased 30 percent ownership of Valley Industries for $90,000 on January 1, 20X6, when Valley had capital stock of $240,000 and retained earnings of $60,000. During the period of January 1, 20X6, through December 31, 20X9, the market value of Ravine's investment in Valley's stock increased by $10,000 each year. The following data were reported by the companies for the years 20X6 through 20X9: Dividends Declared Year Operating Income, Ravine Corporation Net Income, Valley Industries Ravine Valley 20X6...
On January 1, 20X7, Poke Corporation acquired 25 percent of the outstanding shares of Shove Corporation...
On January 1, 20X7, Poke Corporation acquired 25 percent of the outstanding shares of Shove Corporation for $100,000 cash. Shove Company reported net income of $75,000 and paid dividends of $30,000 for both 20X7 and 20X8. The fair value of shares held by Poke was $110,000 and $105,000 on December 31, 20X7 and 20X8 respectively. If Poke could not exercise significant influence over the investee, by what amount will Poke's 20X7 income increase due to its investment in Shove? a)...
Ch 17 in-Class Practice Problem First Name: Last Name: Equity Investments --Fair value and equity methods...
Ch 17 in-Class Practice Problem First Name: Last Name: Equity Investments --Fair value and equity methods Fil in the dollar changes caused in the investment account and Dividend Revenue or Investment Revenue account by each of the following transactions, assuming Crane Company uses (a) the fair value method and (b) the equity method for accounting for its investments in Hudson Company (a) Fair Value Method Investment Dividend Account Revenue (b) Equity Method Investment Investment Account Revenue Transaction 1. At the...
A11-19 Equity Method: On 1 January 20X5, Zan Company purchased 5,000 of the 20,000 outstanding common...
A11-19 Equity Method: On 1 January 20X5, Zan Company purchased 5,000 of the 20,000 outstanding common shares of Woo Computer Corp. (WC) for $120,000 cash. Zan had significant influence as a result of the investment and will use the equity method to account for the investment. On 1 January 20X5, the statement of financial position of WC showed the following book values (summarized): Assets not subject to depreciation $150,000* Assets subject to depreciation (net) 120,000** Liabilities 40,000 Common shares 180,000...
assets of Lavery rather than a 30% interest. P 12-11 Fair value option; equity method investments...
assets of Lavery rather than a 30% interest. P 12-11 Fair value option; equity method investments LO12-5 2, LO12-8 L [This problem is a variation of P 12-102 focusing on the fair value option.] On January 4, 2018, Runyan Bakery paid $324 million for 10 million shares of Lavery Labeling Company common stock The investment represents a 30% interest in the net assets of Lavery and gave Runyan the ability to exercise significant influence over Lavery's operations. Runyan chose the...
Change from Fair Value Method to Equity Method ( Prospective treatment) Assume A owns 10% of...
Change from Fair Value Method to Equity Method ( Prospective treatment) Assume A owns 10% of B on January 1, 2012. On July 1, 2012 A increases ownership to 40% by purchasing additional shares in B. The following represent the earnings and dividends of B for 2012. Income Dividends January 1 - June 30 50,000 30,000 July 1 - December 31 70,000 40,000 1. How much equity income is recognized by A in 2012. 2. How much dividend income is...
Gant Company purchased 20 percent of the outstanding shares of Temp Company for $71,000 on January 1, 20X6. The following results are reported for Temp Company: 20x620x720X8 $45,000 $40,000 $62,000 13,000 29,000 18,000 Net income Dividends paid Fair value of shares held by Gant: January 1 December 31 71,000 90,000 90,000 87,000 87,000 98,000 Required: Determine the amounts reported by Gant as income from its investment in Temp for each year and the balance in Gant's investment in Temp at...
I am confused on how to solve
for the fair value
E2-6 Investment Income LO 2-2, 2-3 Ravine Corporation purchased 40 percent ownership of Valley Industries for $115,200 on January 1, 20X6, when Valley had capital stock of $241,000 and retained earnings of $47,000. During the period of January 1, 20X6, through December 31, 20X9, the market value of Ravine's investment in Valley's stock increased by $12,000 each year. The following data were reported by the companies for the years...
(a) carrying the investment at FAIR VALUE
please do not copy others answer, thank you.
Chapter 2 Reporting Intercorporate Investments and Consolidation of Wholly Owned Subsidiaries with No Differential 85 E2-4 Carrying an Investment at Fair Value versus Equity Method Reporting Winston Corporation purchased 40 percent of the stock of Fullbright Company on January 1, 20X2, at underlying book value. During the period of January 1, 20X2, through December 31, 20X4, the market value of Winston's investment in Fullbright's stock...
Ch 17 in-Class Practice Problem First Name: Last Name: Equity Investments --Fair value and equity methods Fil in the dollar changes caused in the investment account and Dividend Revenue or Investment Revenue account by each of the following transactions, assuming Crane Company uses (a) the fair value method and (b) the equity method for accounting for its investments in Hudson Company (a) Fair Value Method Investment Dividend Account Revenue (b) Equity Method Investment Investment Account Revenue Transaction 1. At the...
A11-19 Equity Method: On 1 January 20X5, Zan Company purchased 5,000 of the 20,000 outstanding common shares of Woo Computer Corp. (WC) for $120,000 cash. Zan had significant influence as a result of the investment and will use the equity method to account for the investment. On 1 January 20X5, the statement of financial position of WC showed the following book values (summarized): Assets not subject to depreciation $150,000* Assets subject to depreciation (net) 120,000** Liabilities 40,000 Common shares 180,000...
assets of Lavery rather than a 30% interest. P 12-11 Fair value option; equity method investments LO12-5 2, LO12-8 L [This problem is a variation of P 12-102 focusing on the fair value option.] On January 4, 2018, Runyan Bakery paid $324 million for 10 million shares of Lavery Labeling Company common stock The investment represents a 30% interest in the net assets of Lavery and gave Runyan the ability to exercise significant influence over Lavery's operations. Runyan chose the...
Most questions answered within 3 hours.
-
An entomologist discovers a dung beetle rolling a ball of dung
along the ground, and decides...
asked 5 minutes ago -
Humans have used horses for transportation for millions of
years. Therefore, they will use horses for...
asked 1 hour ago -
The following are the Jensen Corporation's unit costs of making
and selling an item at a...
asked 2 hours ago -
Does direct Medicare reimbursement of Advanced practice nurses
increase access to their services?
asked 3 hours ago -
List and explain why a company would choose to use a
published
compensation survey vs. creating...
asked 3 hours ago -
A discrete random variable X can take values from 1 to 10. Find
the variance of...
asked 3 hours ago -
The primary financial goal of a corporation is to maximize:
shareholders wealth.
earnings per share.
stock...
asked 3 hours ago -
determine whether the vectors u=(1,2,3,), v=(-2,1,0) and
w=(1,0,1) are linearly dependent or independent.
asked 3 hours ago -
python
Define a function called print_values which takes a dictionary
object as a parameter. The function...
asked 4 hours ago -
In Chapter 1 you created a program named Triangle in
which you displayed a seven-line triangle...
asked 4 hours ago -
Research question: What are the differences between separately
stated and non separately stated transactions in an...
asked 5 hours ago -
By using Arduino write a code that connects two LEDs to two
push-buttons. Each button controls...
asked 6 hours ago
> How did you get 75,000 for the beginning investment for 20X7 and 76,000 for 20X8?
BUN B Wed, Feb 1, 2023 6:39 AM