On January 1, 2018, Beilich Enterprises bought 20% of the outstanding common stock of Wolfe Construction...
On January 1, 2018, Beilich Enterprises bought 20% of the
outstanding common stock of Wolfe Construction Company for $510.0
million cash. Wolfe’s net income for the year ended December 31,
2018, was $255.0 million. During 2018, Wolfe declared and paid cash
dividends of $51.0 million. Beilich recorded the investment as
follows:
|
($ in millions) |
||
|
Purchase |
||
|
Investment in Wolfe Construction shares |
510.0 |
|
|
Cash |
510.0 |
|
|
Net income |
||
|
Investment in Wolfe Construction shares (20% × $255.0 million) |
51.0 |
|
|
Investment revenue |
51.0 |
|
|
Dividends |
||
|
Cash (20% × $51.0 million) |
10.2 |
|
|
Investment in Wolfe Construction shares. |
10.2 |
|
Required:
What would be the pretax amounts related to the investment that
Beilich would report in its statement of cash flows for the year
ended December 31, 2018? (Enter your answers in millions
rounded to 1 decimal place (i.e., 5,500,000 should be entered as
5.5). Cash outflows should be indicated by a minus
sign.)
Homework Answers
Add Answer to:
On January 1, 2018, Beilich Enterprises bought 20% of the
outstanding common stock of Wolfe Construction...
On January 1, 2018, Beilich Enterprises bought 20% of the outstanding common stock of Wolfe Construction...
On January 1, 2018, Beilich Enterprises bought 20% of the outstanding common stock of Wolfe Construction Company for $620.0 million cash. Wolfe’s net income for the year ended December 31, 2018, was $310.0 million. During 2018, Wolfe declared and paid cash dividends of $62.0 million. Beilich recorded the investment as follows: ($ in millions) Purchase Investment in Wolfe Construction shares 620.0 Cash 620.0 Net income Investment in Wolfe Construction shares (20% × $310.0 million) 62.0 Investment revenue 62.0 Dividends Cash...
please help On January 1, 2018, Beilich Enterprises bought 20% of the outstanding common stock of...
please help
On January 1, 2018, Beilich Enterprises bought 20% of the outstanding common stock of Wolfe Construction Company for $400.0 million cash. Wolfe's net income for the year ended December 31, 2018, was $200.0 million. During 2018, Wolfe declared and paid cash dividends of $40.0 million. Beilich recorded the investment as follows: ($ in millions) 400.0 Purchase Investment in Wolfe Construction shares Cash 400.0 Net income Investment in Wolfe Construction shares (20% * $200.0 million) Investment revenue 40.6 40.6...
On January 1, 2021, Cameron Inc. bought 20% of the outstanding common stock of Lake Construction...
On January 1, 2021, Cameron Inc. bought 20% of the outstanding
common stock of Lake Construction Company for $260 million cash,
giving Cameron the ability to exercise significant influence over
Lake’s operations. At the date of acquisition of the stock, Lake's
net assets had a fair value of $900 million. Its book value was
$850 million. The difference was attributable to the fair value of
Lake's buildings and its land exceeding book value, each accounting
for one-half of the difference....
On January 1, 2021, Cameron Inc. bought 20% of the outstanding common stock of Lake Construction...
On January 1, 2021, Cameron Inc. bought 20% of the outstanding common stock of Lake Construction Company for $240 million cash, giving Cameron the ability to exercise significant influence over Lake's operations. At the date of acquisition of the stock, Lake's net assets had a fair value of $600 million. Its book value was $500 million. The difference was attributable to the fair value of Lake's buildings and its land exceeding book value, each accounting for one-half of the difference....
On January 1, 2018, Cameron Inc. bought 30% of the outstanding common stock of Lake Construction...
On January 1, 2018, Cameron Inc. bought 30% of the outstanding common stock of Lake Construction Company for $420 million cash. At the date of acquisition of the stock, Lake's net assets had a fair value of $800 million. Their book value was $700 million. The difference was attributable to the fair value of Lake's buildings and its land exceeding book value, each accounting for one-half of the difference. Lake's net income for the year ended December 31, 2018, was...
On January 1, 2021, Cameron Inc. bought 20% of the outstanding common stock of Lake Construction...
On January 1, 2021, Cameron Inc. bought 20%
of the outstanding common stock of Lake Construction Company for
$240 million cash, giving Cameron the ability to exercise
significant influence over Lake’s operations. At the date of
acquisition of the stock, Lake's net assets had a fair value of
$600 million. Its book value was $500 million. The difference was
attributable to the fair value of Lake's buildings and its land
exceeding book value, each accounting for one-half of the
difference....
On January 1, 2018. Cameron Inc. bought 10% of the outstanding common stock of Lake Construction...
On January 1, 2018. Cameron Inc. bought 10% of the outstanding common stock of Lake Construction Company for $190 million cash At the date of acquisition of the stock, Lake's net assets had a fair value of $900 million. Their book value was 5800 million. The difference was attributable to the fair value of Lake's buildings and its land exceeding book value, each accounting for one-half of the difference. Lake's net income for the year ended December 31, 2018, was...
On January 1, 2018, Cameron Inc. bought 10 % of the outstanding common stock of Lake...
On January 1, 2018, Cameron Inc. bought 10 % of the outstanding common stock of Lake Construction Company for $190 million cash. At the date of acquisition of the stock, Lake's net assets had a fair value of $900 million. Their book value was $800 million, The difference was attributable to the fair value of Lake's buildings and its land exceeding book value, each accounting for one-half of the difference. Lake's net income for the year ended December 31, 2018,...
On January 1, 2021, Cameron Inc. bought 10% of the outstanding common stock of Lake Construction...
On January 1, 2021, Cameron Inc. bought 10% of the outstanding common stock of Lake Construction Company for $160 million cash, giving Cameron the ability to exercise significant influence over Lake's operations. At the date of acquisition of the stock, Lake's net assets had a fair value of $900 million. Its book value was $800 million. The difference was attributable to the fair value of Lake's buildings and its land exceeding book value, each accounting for one-half of the difference....
On January 1, 2018, Cameron Inc bought 10% of the outstanding common stock of Lake Construction...
On January 1, 2018, Cameron Inc bought 10% of the outstanding common stock of Lake Construction Company for $160 million cash At the date of acquisition of the stock, Lake's net assets had a fair value of $900 million. Their book value Ovas $800 million. The difference was attributable to the fair value of Lake's buildings and its land exceeding book value, each accounting for one-half of the difference. Lake's net Income for the year ended December 31, 2018, was...
please help
On January 1, 2018, Beilich Enterprises bought 20% of the outstanding common stock of Wolfe Construction Company for $400.0 million cash. Wolfe's net income for the year ended December 31, 2018, was $200.0 million. During 2018, Wolfe declared and paid cash dividends of $40.0 million. Beilich recorded the investment as follows: ($ in millions) 400.0 Purchase Investment in Wolfe Construction shares Cash 400.0 Net income Investment in Wolfe Construction shares (20% * $200.0 million) Investment revenue 40.6 40.6...
On January 1, 2021, Cameron Inc. bought 20% of the outstanding
common stock of Lake Construction Company for $260 million cash,
giving Cameron the ability to exercise significant influence over
Lake’s operations. At the date of acquisition of the stock, Lake's
net assets had a fair value of $900 million. Its book value was
$850 million. The difference was attributable to the fair value of
Lake's buildings and its land exceeding book value, each accounting
for one-half of the difference....
On January 1, 2021, Cameron Inc. bought 20% of the outstanding common stock of Lake Construction Company for $240 million cash, giving Cameron the ability to exercise significant influence over Lake's operations. At the date of acquisition of the stock, Lake's net assets had a fair value of $600 million. Its book value was $500 million. The difference was attributable to the fair value of Lake's buildings and its land exceeding book value, each accounting for one-half of the difference....
On January 1, 2018, Cameron Inc. bought 30% of the outstanding common stock of Lake Construction Company for $420 million cash. At the date of acquisition of the stock, Lake's net assets had a fair value of $800 million. Their book value was $700 million. The difference was attributable to the fair value of Lake's buildings and its land exceeding book value, each accounting for one-half of the difference. Lake's net income for the year ended December 31, 2018, was...
On January 1, 2021, Cameron Inc. bought 20%
of the outstanding common stock of Lake Construction Company for
$240 million cash, giving Cameron the ability to exercise
significant influence over Lake’s operations. At the date of
acquisition of the stock, Lake's net assets had a fair value of
$600 million. Its book value was $500 million. The difference was
attributable to the fair value of Lake's buildings and its land
exceeding book value, each accounting for one-half of the
difference....
On January 1, 2018. Cameron Inc. bought 10% of the outstanding common stock of Lake Construction Company for $190 million cash At the date of acquisition of the stock, Lake's net assets had a fair value of $900 million. Their book value was 5800 million. The difference was attributable to the fair value of Lake's buildings and its land exceeding book value, each accounting for one-half of the difference. Lake's net income for the year ended December 31, 2018, was...
On January 1, 2018, Cameron Inc. bought 10 % of the outstanding common stock of Lake Construction Company for $190 million cash. At the date of acquisition of the stock, Lake's net assets had a fair value of $900 million. Their book value was $800 million, The difference was attributable to the fair value of Lake's buildings and its land exceeding book value, each accounting for one-half of the difference. Lake's net income for the year ended December 31, 2018,...
On January 1, 2021, Cameron Inc. bought 10% of the outstanding common stock of Lake Construction Company for $160 million cash, giving Cameron the ability to exercise significant influence over Lake's operations. At the date of acquisition of the stock, Lake's net assets had a fair value of $900 million. Its book value was $800 million. The difference was attributable to the fair value of Lake's buildings and its land exceeding book value, each accounting for one-half of the difference....
On January 1, 2018, Cameron Inc bought 10% of the outstanding common stock of Lake Construction Company for $160 million cash At the date of acquisition of the stock, Lake's net assets had a fair value of $900 million. Their book value Ovas $800 million. The difference was attributable to the fair value of Lake's buildings and its land exceeding book value, each accounting for one-half of the difference. Lake's net Income for the year ended December 31, 2018, was...
Most questions answered within 3 hours.
-
Oxidative phosphorylation is achieved through chemiosmotic
coupling, which turns chemical energy into osmotic potential energy
that...
asked 1 hour ago -
Hollywood Shoes would like to maintain their cash account at a
minimum level of $64,000, but...
asked 1 hour ago -
Proteins CtrA-P, DnaA, and GcrA behave similarly to what
molecule in the Eukaryotic Cell Cycle?
asked 1 hour ago -
TRUE OR FALSE
In case of a competitive tender procedure, in the request for
quotation, the...
asked 1 hour ago -
I am a little behind please provide some explanation, will
provide thumbs up.
This question considers...
asked 1 hour ago -
Let say the utility function as U(X,Y) = lnX + Y. Show that the
marginal rate...
asked 1 hour ago -
A current of I=8.0A is flowing in a typical extension cord of
length L=3.00m. The cord...
asked 1 hour ago -
1. When balancing the equation H2SO4 (aq) + NaOH (aq) →
Na2SO4(aq) + H2O(aq), would you...
asked 2 hours ago -
Provide a definition of “classification hierarchy” and
illustrate your definition with an example of how and...
asked 1 hour ago -
1. Describe the four main green solvents. Provide one example of
the use of each solvent....
asked 1 hour ago -
International ethics focus on:
1) exploitation of labor
2)corruption
3) environmental impact
4) none of the...
asked 2 hours ago -
Costing Models You work for XYZ trucking and your boss has asked
you to figure out...
asked 1 hour ago