subject
Business, 08.07.2020 22:01 abolton04

Gant Company purchased 20 percent of the outstanding shares of Temp Company for $83,000 on January 1, 20X6. The following results are reported for Temp Company: 20X6 20X7 20X8
Net income $ 48,000 $ 43,000 $ 57,000
Dividends paid 12,000 27,000 17,000
Fair value of shares held by Gant:
January 1 83,000 102,000 99,000
December 31 102,000 99,000 110,000
Required:Determine the amounts reported by Gant as income from its investment in Temp for each year and the balance in Gant’s investment in Temp at the end of each year assuming that Gant uses the following methods in accounting for its investment in Temp:.a. Cost method. b. Equity method. c. Fair value method.

ansver
Answers: 3

Another question on Business

question
Business, 21.06.2019 21:30
The beach dude (bd) employs a legion of current and former surfers as salespeople who push its surfing-oriented products to various customers (usually retail outlets). this case describes bd's sales and collection process. each bd salesperson works with a specific group of customers throughout the year. in fact, they often surf with their customers to try out the latest surf gear. the bd salespeople act laid-back, but they work hard for their sales. each sale often involves hours of surfing with their customers while the customers sample all the latest surf wear. because bd makes the best surfing products, the customers look forward to the visits from the bd salespeople. and they often buy a lot of gear. each sale is identified by a unique invoice number and usually involves many different products. customers pay for each sale in full within 30 days, but they can combine payments for multiple sales. bd manages its clothing inventory by item (e.g., xl bd surfer logo t-shirts), identified by product number, but it also classifies the items by clothing line (the lines are differentiated by price points as well as the intended use of the clothing, e.g., surfing products, casual wear, . draw a uml class diagram that describes the beach dudes sales and collection process.b. using microsoft access, implement a relational database from your uml class diagram. identify at least three fields per table.c. describe how you would use the relational database to determine the beach dude’s accounts receivable.
Answers: 3
question
Business, 22.06.2019 01:00
Which type of data is generally stored in different file formats, such as text files, spreadsheets, and so on?
Answers: 3
question
Business, 22.06.2019 16:00
If the family’s net monthly income is 7,800 what percent of the income is spent on food clothing and housing?
Answers: 3
question
Business, 22.06.2019 16:20
Stosch company's balance sheet reported assets of $112,000, liabilities of $29,000 and common stock of $26,000 as of december 31, year 1. if retained earnings on the balance sheet as of december 31, year 2, amount to $74,000 and stosch paid a $28,000 dividend during year 2, then the amount of net income for year 2 was which of the following? a)$23,000 b) $35,000 c) $12,000 d)$42,000
Answers: 1
You know the right answer?
Gant Company purchased 20 percent of the outstanding shares of Temp Company for $83,000 on January 1...
Questions
question
Mathematics, 23.10.2019 00:30
Questions on the website: 13722359