Homework Answers
Question no.16
A minimum of 20% stake in the entity would give rise to significant influence in the investee's company by the investor.
Question no.17
They must be adjusted and reported at fair value at the end of each accounting year.
Question no.18
Available for sale investments are shown as Current assets if the business expects to sell them within a year.
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Question 16 ownership in the investee's voting stock can significantly influence the investee's decisions wa Oь...
= = Tulsa safeIII Question 4 At the beginning of the year, loan Steel, Inc. purchased...
= = Tulsa safeIII Question 4 At the beginning of the year, loan Steel, Inc. purchased 10,000 shares of Smith Metals, Inc. for $34,000 in exchange for cash and now holds 3.2% of the voting stock of Smith Metals, Inc. The management of Joan Steel intends to hold this stock for two years. Assumine no other transaction happened during the year, the in the balance sheet will increase total assets long-term investments cash current assets Od Question 5 Beige Corporation...
Question 1 Trading investments include ob equity securities in which the investor holds less than 20...
Question 1 Trading investments include ob equity securities in which the investor holds less than 20 percent of the voting stock and that the investor plans to sell in the very near future debt and equity securities that the investor expects to hold longer than one year or debt or equity securities that are not readily marketable investments in debt securities that the investor intends to hold until they mature investments in debt and equity securities that are highly liquid...
UBetcha Corporation acquired 30 percent of the voting stock of Trunks Corporation on January 2, 2...
UBetcha Corporation acquired 30 percent of the voting stock of Trunks Corporation on January 2, 2019, for $1.6 million in cash. Trunks’ balance sheet and estimated fair values of its assets and liabilities on January 2, 2019 are as follows (in thousands). Trunks Corporation Balance Sheet January 2, 2019 Book Value Fair Value Assets Cash and receivables 300 300 Inventory 600 350 Investments 250 250 Land 400 1,000 Property and equipment 2,000 350 Accumulated depreciation (750) TOTAL ASSETS 2,800 2,250...
The following information shows Carperk Company's individual Investments in securities during its current year, along with...
The following information shows Carperk Company's individual Investments in securities during its current year, along with the December 31 fair values a. Investment in Brava Company bonds: $420,500 cost: $457000 fair value Carperk intends to hold these bonds until they mature in 5 years. b. Investment in Baybridge common stock: 29,500 shares; $362,450 cost: $391,375 fair value. Carperk owns 32% of Baybridge's voting stock and has a significant influence over Baybridge. C. Investment in Duffa bonds: $165,500 cost; $178,000 fair...
gy.com/assigny 2332078316/assessment Question 10 Short-term investments 0 а 0 b are investments in debt securities or...
gy.com/assigny 2332078316/assessment Question 10 Short-term investments 0 а 0 b are investments in debt securities or equity securities in which the investor holds less than 50 percent of the voting stock and that the investor plans to sell in the very near future are debt and equity Securities that the investor expects to hold for more than a year are investments in debt and equity securities that are highly liquid and that the investor intends to convert to cash within...
Strategic Investments completed the following investment transactions during 2018: i (Click the icon to view the...
Strategic Investments completed the following investment transactions during 2018: i (Click the icon to view the transactions.) Read the requirements. Requirement 1. Joumalize Strategic's investment transactions. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries. If no entry is required, select "No entry required" on the first line of the Accounts column and leave the remaining cells blank.) Jan. 14: Purchased 800 shares of Phyflexon stock, paying $50 per share. The investment represents 4% ownership...
Question 4 Not complete Marked out of 22.00 P Flag question Recording Entries for Equity Investment:...
Question 4 Not complete Marked out of 22.00 P Flag question Recording Entries for Equity Investment: Equity Method On January 1, 2020, Allen Corporation purchased 30% of the 60,000 outstanding common shares of Towne Corporation at $15 per share as a long-term investment. On the date of purchase, the book value and the fair value of the net assets of Towne Corporation were equal. During the year, Towne Corporation reported net income of $48,000. Towne Corporation declared and paid cash...
Proud Corporation acquired 80 percent of Spirited Company’s voting stock on January 1, 20X3, at underlying...
Proud Corporation acquired 80 percent of Spirited Company’s voting stock on January 1, 20X3, at underlying book value. The fair value of the noncontrolling interest was equal to 20 percent of the book value of Spirited at that date. Assume that the accumulated depreciation on depreciable assets was $56,000 on the acquisition date. Proud uses the equity method in accounting for its ownership of Spirited. On December 31, 20X4, the trial balances of the two companies are as follows: ...
QUESTION 16 The financing activities section of the statement of cash flows includes activities that affect...
QUESTION 16 The financing activities section of the statement of cash flows includes activities that affect current assets and current liabilities. True False QUESTION 17 The statement of cash flows helps users evaluate the company's earnings per share evaluate management decisions predict future net income predict the growth of a company's assets Click Save and Submit to save and submit. Click Save All Answers to save all answers. 3 6 39 10 11 12 13 13 16 17 QUESTIONS Obligations...
StrategicStrategic Investments completed the following investment transactions during 20182018: LOADING... (Click the icon to view the...
StrategicStrategic Investments completed the following investment transactions during 20182018: LOADING... (Click the icon to view the transactions.)Read the requirements LOADING... .Requirement 1. Journalize Strategic'sStrategic's investment transactions. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries. If no entry is required, select "No entry required" on the first line of the Accounts column and leave the remaining cells blank.)Jan. 14: Purchased 800800 shares of PhyflexonPhyflexon stock, paying $ 50$50 per share. The investment represents 4 %4%...
= = Tulsa safeIII Question 4 At the beginning of the year, loan Steel, Inc. purchased 10,000 shares of Smith Metals, Inc. for $34,000 in exchange for cash and now holds 3.2% of the voting stock of Smith Metals, Inc. The management of Joan Steel intends to hold this stock for two years. Assumine no other transaction happened during the year, the in the balance sheet will increase total assets long-term investments cash current assets Od Question 5 Beige Corporation...
Question 1 Trading investments include ob equity securities in which the investor holds less than 20 percent of the voting stock and that the investor plans to sell in the very near future debt and equity securities that the investor expects to hold longer than one year or debt or equity securities that are not readily marketable investments in debt securities that the investor intends to hold until they mature investments in debt and equity securities that are highly liquid...
The following information shows Carperk Company's individual Investments in securities during its current year, along with the December 31 fair values a. Investment in Brava Company bonds: $420,500 cost: $457000 fair value Carperk intends to hold these bonds until they mature in 5 years. b. Investment in Baybridge common stock: 29,500 shares; $362,450 cost: $391,375 fair value. Carperk owns 32% of Baybridge's voting stock and has a significant influence over Baybridge. C. Investment in Duffa bonds: $165,500 cost; $178,000 fair...
gy.com/assigny 2332078316/assessment Question 10 Short-term investments 0 а 0 b are investments in debt securities or equity securities in which the investor holds less than 50 percent of the voting stock and that the investor plans to sell in the very near future are debt and equity Securities that the investor expects to hold for more than a year are investments in debt and equity securities that are highly liquid and that the investor intends to convert to cash within...
Strategic Investments completed the following investment transactions during 2018: i (Click the icon to view the transactions.) Read the requirements. Requirement 1. Joumalize Strategic's investment transactions. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries. If no entry is required, select "No entry required" on the first line of the Accounts column and leave the remaining cells blank.) Jan. 14: Purchased 800 shares of Phyflexon stock, paying $50 per share. The investment represents 4% ownership...
Question 4 Not complete Marked out of 22.00 P Flag question Recording Entries for Equity Investment: Equity Method On January 1, 2020, Allen Corporation purchased 30% of the 60,000 outstanding common shares of Towne Corporation at $15 per share as a long-term investment. On the date of purchase, the book value and the fair value of the net assets of Towne Corporation were equal. During the year, Towne Corporation reported net income of $48,000. Towne Corporation declared and paid cash...
QUESTION 16 The financing activities section of the statement of cash flows includes activities that affect current assets and current liabilities. True False QUESTION 17 The statement of cash flows helps users evaluate the company's earnings per share evaluate management decisions predict future net income predict the growth of a company's assets Click Save and Submit to save and submit. Click Save All Answers to save all answers. 3 6 39 10 11 12 13 13 16 17 QUESTIONS Obligations...
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Amplitude=3;
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