Homework Answers
a) Net income = 110000
b) Total net income = 110000*100/25 = 440000
c) Total dividend = 440000*40% = 176000
d) Dividends = 176000*25% = 44000
Add Answer to:
Exercise 17-13 Parent Co. invested $1,000,000 in Sub Co. for 25% of its outstanding stock. Sub...
Culver Co. invested $1,080,000 in Larkspur Co. for 25% of its outstanding stock. Larkspur Co. pays...
Culver Co. invested $1,080,000 in Larkspur Co. for 25% of its outstanding stock. Larkspur Co. pays out 40% of net income in dividends each year. Use the information in the following T-account for the investment in Larkspur to answer the following questions. Investment in Larkspur Co Dr. Cr. 1,080,000 116,000 46,400 (a) How much was Culver Co.’s share of Larkspur Co.’s net income for the year? (b) What was Larkspur Co.’s total net income for the year? (c) What was...
Tamarisk Co. invested $940,000 in Vaughn Co. for 25% of its outstanding stock. Vaughn Co. pays...
Tamarisk Co. invested $940,000 in Vaughn Co. for 25% of its outstanding stock. Vaughn Co. pays out 40% of net income in dividends each year. Use the information in the following T-account for the investment in Vaughn to answer the following questions. Investment in Vaughn Co. 940,000 105,000 42,000 (a) How much was Tamarisk Co.’s share of Vaughn Co.’s net income for the year? (b) What was Vaughn Co.’s total net income for the year? (c) What was Vaughn Co.’s...
Sheridan Co. invested $980,000 in Skysong Co. for 25% of its outstanding stock. Skysong Co. pays...
Sheridan Co. invested $980,000 in Skysong Co. for 25% of its outstanding stock. Skysong Co. pays out 30% of net income in dividends each year. Use the information in the following T-account for the investment in Skysong to answer the following questions. Investment in Skysong Co. 980,000 113,000 33,900 (a) How much was Sheridan Co.’s share of Skysong Co.’s net income for the year? Net income (b) What was Skysong Co.’s total net income for the year? Total net income...
Skysong Co. invested $1,010,000 in Concord Co. for 25% of its outstanding stock. Concord Co. pays...
Skysong Co. invested $1,010,000 in Concord Co. for 25% of its outstanding stock. Concord Co. pays out 30% of net income in dividends each year. Use the information in the following T-account for the investment in Concord to answer the following questions. Investment in Concord Co. 1,010,000 99,000 29,700 (a) How much was Skysong Co.’s share of Concord Co.’s net income for the year? Net income $ (b) What was Concord Co.’s total net income for the year? Total net...
Monty Co. invested $1,020,000 in Flounder Co. for 25% of its outstanding stock. Flounder Co. pays...
Monty Co. invested $1,020,000 in Flounder Co. for 25% of its
outstanding stock. Flounder Co. pays out 30% of net income in
dividends each year.
Use the information in the following T-account for the investment
in Flounder to answer the following questions.
Investment in Flounder Co.
1,020,000
111,000
33,300
(a) How much was Monty Co.’s share of Flounder
Co.’s net income for the year?
Net income
$enter Monty’s net income in dollars
(b) What was Flounder Co.’s total net income...
Stellar Co. invested $1,060,000 in Pearl Co.for 25% of its outstanding stock. Pearl Co. pays out...
Stellar Co. invested $1,060,000 in Pearl Co.for 25% of its outstanding stock. Pearl Co. pays out 30% of net income in dividends each year. Use the information in the following T-account for the investment in Pearl to answer the following questions. Investment in Pearl Co. 1,060,000 121,000 36,300 (a) How much was Stellar Co's share of Pearl Co's net income for the year? Net income $ (b) What was Pearl Co's total net income for the year? Total net income...
Parent Co paid $176,000 for 80% of the outstanding voting stock of Sub Co on January...
Parent Co paid $176,000 for 80% of the outstanding voting stock
of Sub Co on January 1, 2018, when Sub Co’s stockholders’ equity
consisted of $120,000 common stock and $60,000 retained earnings.
This implied that the total fair value of Sub co is $220,000
($176,000 / 80%). The company assigned the $40,000 excess fair
value to previously unrecorded patents with a 10-year useful
life.
Parent Co’s $36,800 income from Sub Co for 2018 consisted of 80%
of Sub Co’s $50,000...
HW 17-8 Equity Method-Significant Influence Judd Co. invested $5,000,000 in Jones, Inc. for 30% of its...
HW 17-8 Equity Method-Significant Influence Judd Co. invested $5,000,000 in Jones, Inc. for 30% of its outstanding stock. At the time of the purchase, Jones had a book value of $15,000,000. Jones, Inc. pays out 75% of net income in dividends each year. Use the information in the following T-account for the investment in Jones, Inc. to answer the following questions. Investment in Jones, Inc. $5,000,000 360,000 270,000 a. How much was Judd's share of Jones, Inc. net income for...
On January 1, 2017, Parent Co., acquired 100 percent of the common stock of Sub Co...
On January 1, 2017, Parent Co., acquired 100 percent of the common stock of Sub Co for $1,000,000 in cash. At that time, the building which had a remaining life of 20 years and was undervalued by 200,000 and they had a patent not recorded on their books of 100,000 with a remaining life of 10 years. Below is the relevant information for Parent Co. and Sub Co. Parent Co 12/31/18 Sub Co 12/31/16 Sub Co 13/31/17 Sub Co 13/31/18...
Parent Co owns 100% of the common stock of Sub Co. Parent Co sold inventory with...
Parent Co owns 100% of the common stock of Sub Co. Parent Co
sold inventory with a cost of $1,000,000 to Sub Co for $1,100,000
during Year 1. The Year 1 ending inventory of Sub Co included goods
purchased from Parent Co for $660,000. Sub Co had a remaining
account payable balance to Parent Co of $200,000 on December 31,
Year 1.
Record the eliminating journal entry
Q: The following eliminating journal entry and T account are my
understanding of...
Monty Co. invested $1,020,000 in Flounder Co. for 25% of its
outstanding stock. Flounder Co. pays out 30% of net income in
dividends each year.
Use the information in the following T-account for the investment
in Flounder to answer the following questions.
Investment in Flounder Co.
1,020,000
111,000
33,300
(a) How much was Monty Co.’s share of Flounder
Co.’s net income for the year?
Net income
$enter Monty’s net income in dollars
(b) What was Flounder Co.’s total net income...
Stellar Co. invested $1,060,000 in Pearl Co.for 25% of its outstanding stock. Pearl Co. pays out 30% of net income in dividends each year. Use the information in the following T-account for the investment in Pearl to answer the following questions. Investment in Pearl Co. 1,060,000 121,000 36,300 (a) How much was Stellar Co's share of Pearl Co's net income for the year? Net income $ (b) What was Pearl Co's total net income for the year? Total net income...
Parent Co paid $176,000 for 80% of the outstanding voting stock
of Sub Co on January 1, 2018, when Sub Co’s stockholders’ equity
consisted of $120,000 common stock and $60,000 retained earnings.
This implied that the total fair value of Sub co is $220,000
($176,000 / 80%). The company assigned the $40,000 excess fair
value to previously unrecorded patents with a 10-year useful
life.
Parent Co’s $36,800 income from Sub Co for 2018 consisted of 80%
of Sub Co’s $50,000...
HW 17-8 Equity Method-Significant Influence Judd Co. invested $5,000,000 in Jones, Inc. for 30% of its outstanding stock. At the time of the purchase, Jones had a book value of $15,000,000. Jones, Inc. pays out 75% of net income in dividends each year. Use the information in the following T-account for the investment in Jones, Inc. to answer the following questions. Investment in Jones, Inc. $5,000,000 360,000 270,000 a. How much was Judd's share of Jones, Inc. net income for...
Parent Co owns 100% of the common stock of Sub Co. Parent Co
sold inventory with a cost of $1,000,000 to Sub Co for $1,100,000
during Year 1. The Year 1 ending inventory of Sub Co included goods
purchased from Parent Co for $660,000. Sub Co had a remaining
account payable balance to Parent Co of $200,000 on December 31,
Year 1.
Record the eliminating journal entry
Q: The following eliminating journal entry and T account are my
understanding of...
Most questions answered within 3 hours.
-
Industry: Telecommunications in India
Here, you need to discuss the sources of the growth pattern
and...
asked 1 second from now -
Hydrobromic acid
dissolves solid iron according to the followiaung reaction:
Fe(s)+2HBr(aq)→
FeBr2(aq)+ H2(g)
Part A. What...
asked 1 hour ago -
Verify the following vector identity in SPHERICAL
COORDINATES.
div(curl(A)) = 0
asked 3 hours ago -
The work function (Φ) for a metal is 7.50×10-19 J.
What is the longest wavelength (nm)...
asked 4 hours ago -
1. Would the following procedural changes cause the
calculated mass percent Ni2+ ion in Ni(NH3)nCl2 to...
asked 5 hours ago -
1. Why does the voltage of the capacitor vary with frequency?
where does this missing voltage...
asked 6 hours ago -
p p please write each step out clearly
3. A manager of a company is considering...
asked 5 hours ago -
On October 1, Ebony Ernst organized Ernst Consulting; on October
3, the owner contributed $83,540 in...
asked 7 hours ago -
A.)As an electron moves through a region of space, its speed
decreases from 9.60 × 106...
asked 7 hours ago -
In java with the netbeans program do:
Through object programming
Create a class "ContadorP", which is...
asked 7 hours ago -
Pattern Corporation acquired all of Science
Company's outstanding stock on January 1, 2016 for $600,000 cash....
asked 7 hours ago -
Here are all accounts Tyler Co. maintains.
Tax expenses $4,750
Common stocks $48,840
SG&A expenses $2,500...
asked 7 hours ago