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 income $ (c) What was Concord Co.’s total dividends for the year? Total Dividends $ (d) How much was Skysong Co.’s share of Concord Co.’s dividends for the year? Dividends $
Homework Answers
a) Share in net income = $99000
b) Total net income = 99000*100/25 = $396000
c) Total dividend = 29700*100/25 = 118800
d) Share in dividend = $29700
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Skysong Co. invested $1,010,000 in Concord Co. for 25% of its outstanding stock. Concord Co. pays...
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...
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Tamarisk Co. invested $940,000 in Vaughn Co. for 25% of its outstanding stock. Vaughn Co. pays...
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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...
Exercise 17-13 Parent Co. invested $1,000,000 in Sub Co. for 25% of its outstanding stock. Sub...
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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...
Harmon Company owns 25% of the stock of Jackson Corp. which is 12,000 outstanding shares. The...
Harmon Company owns 25% of the stock of Jackson Corp. which is 12,000 outstanding shares. The Shares were purchased for $120,000 at the beginning of the year in 2018. During 2018, Harmon earns $1,400,000 in net income and pays dividends of $4 per share. (A) record the investment, (B) record the receipt of dividends, and (c) record the net income.
is this the right answer Marigold Company owns 30% Interest in the stock of Concord Corporation....
is this the right answer
Marigold Company owns 30% Interest in the stock of Concord Corporation. During the year, Concord pays $37000 in dividends to Marigold, and reports $242000 inet income, Maripod Company's Investment in Concord will increase Marigold net income by $12000 $86600. $65600. O $102600
On January 1, 2016, Cunningham Co, purchased 25% of Durham Corp.'s common stock at book value...
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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...
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is this the right answer
Marigold Company owns 30% Interest in the stock of Concord Corporation. During the year, Concord pays $37000 in dividends to Marigold, and reports $242000 inet income, Maripod Company's Investment in Concord will increase Marigold net income by $12000 $86600. $65600. O $102600
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