As a long-term investment, painters' equipment company purchased 20% of amc supplies inc.'s 480,000 shares for $560,000 at the beginning of the fiscal year of both companies. on the purchase date, the fair value and book value of amcโs net assets were equal. during the year, amc earned net income of $330,000 and distributed cash dividends of 25 cents per share. at year-end, the fair value of the shares is $593,000.
assume no significant influence was acquired.
prepare the appropriate journal entries from the purchase through the end of the year. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field.)
Answers: 3
Business, 21.06.2019 15:20
List three major educational changes over the past 100 years that have positively influenced students. explain why these changes were influential.
Answers: 3
Business, 21.06.2019 19:50
Which of the following best describes the economic effect that results when the government increases interest rates and restricts the lending of money? a. borrowing money becomes more expensive and there is less investment in production. b. the economy grows as investments result in larger profits. c. government spending drives up prices because of greater competition for goods and services. d. consumers save more money and spend less buying goods and services.
Answers: 2
Business, 22.06.2019 11:10
Yowell company granted a sales discount of $360 to a customer when it collected the amount due on account. yowell uses the perpetual inventory system. which of the following answers reflects the effects on the financial statements of only the discount? assets = liab. + equity rev. โ exp. = net inc. cash flow a. (360 ) = na + (360 ) (360 ) โ na = (360 ) (360 ) oa b. na = (360 ) + 360 360 โ na = 360 na c. (360 ) = na + (360 ) (360 ) โ na = (360 ) na d. na = (360 ) + 360 360 โ na = 360 na
Answers: 1
Business, 22.06.2019 16:00
In macroeconomics, to study the aggregate means to study blank
Answers: 1
As a long-term investment, painters' equipment company purchased 20% of amc supplies inc.'s 480,000...
English, 12.04.2021 19:20
Chemistry, 12.04.2021 19:20
Computers and Technology, 12.04.2021 19:20
Mathematics, 12.04.2021 19:20
History, 12.04.2021 19:20
Mathematics, 12.04.2021 19:20
Mathematics, 12.04.2021 19:20
Mathematics, 12.04.2021 19:20
Mathematics, 12.04.2021 19:20
Mathematics, 12.04.2021 19:20
History, 12.04.2021 19:20
History, 12.04.2021 19:20
Mathematics, 12.04.2021 19:20
Advanced Placement (AP), 12.04.2021 19:20
Mathematics, 12.04.2021 19:20
Mathematics, 12.04.2021 19:20