Rowan Co. purchases 100 common shares (40%) of JBI Corp. as a long-term investment for $500,000 cash on July 1. JBI Corp. paid $5,000 in total cash dividends on November 1 and reported net income of $100,000 for the year. (1) - (3) Prepare Rowan's entries to record the purchase of JBI shares, the receipt of its share of JBI dividends and the December 31 year-end adjustment for its share of JBI net income.

Explanation:

this is the investment associate because percentage of holding is more than  20% and Less than 50% and will be accounted for as per IAS-28

investment in Associate equity accounting

Entries in books

Investment held for sale   500000

         Cash                                   500000    

to record the purchase of shares for $500000

Cash                   5000

      Dividend income P/L   5000

to record the dividend income in profit and loss account

No Entries for share of profit in seprate books

i would have to say its c

the answer is "b.the increased supply will create a surplus. "

the essential thought behind price controls is straightforward - utilize the power of law to modify the equilibrium of a market. for instance, the legislature may choose that the steel business needs to survive, and in this way pass a law to set a value floor on steel. this implies all steel sold must offer at or over the floor value, which must be set over the equilibrium cost for it to have any impact. the switch could likewise happen - the administration can choose that steel is excessively costly and set a value roof underneath its equilibrium value, with the goal that all steel must be sold at or beneath that ceiling.