Business, 03.12.2021 01:00 floodlife4223
On January 4, 2021, Runyan Bakery paid $356 million for 10 million shares of Lavery Labeling Company common stock. The investment represents a 30% interest in the net assets of Lavery and gave Runyan the ability to exercise significant influence over Lavery's operations. Runyan received dividends of $2.40 per share on December 15, 2021, and Lavery reported net income of $310 million for the year ended December 31, 2021. The market value of Lavery's common stock at December 31, 2021, was $35 per share. On the purchase date, the book value of Lavery's identifiable net assets was $960 million and: The fair value of Lavery's depreciable assets, with an average remaining useful life of four years, exceeded their book value by $80 million. The remainder of the excess of the cost of the investment over the book value of net assets purchased was attributable to goodwill. Required: 1. Prepare all appropriate journal entries related to the investment during 2021, assuming Runyan accounts for this investment by the equity method. 2. Prepare the journal entries required by Runyan, assuming that the 10 million shares represent a 10% interest in the net assets of Lavery rather than a 30% interest.
Answers: 3
Business, 22.06.2019 00:10
Which of the following is a problem for the production of public goods?
Answers: 2
Business, 22.06.2019 02:00
What is the main role of ctsos at the local level? at the local level, the main role of ctsos is to encourage students to become urge them to programs and competitive events.1. a.internsb.traineesc.members2.a.participateb.trainc.win
Answers: 3
Business, 22.06.2019 10:30
When sending a claim to an insurance company for services provided by the physician, why are both icd-10 and cpt codes required to be submitted? how are these codes dependent upon each other? what would be the result of not submitting both codes on a medical claim to an insurance company?
Answers: 2
Business, 22.06.2019 21:30
Which is the most compelling reason why mobile advertising is related to big data?
Answers: 1
On January 4, 2021, Runyan Bakery paid $356 million for 10 million shares of Lavery Labeling Company...
Mathematics, 17.02.2021 22:00
Physics, 17.02.2021 22:00
Mathematics, 17.02.2021 22:00
Mathematics, 17.02.2021 22:00
Mathematics, 17.02.2021 22:00
Mathematics, 17.02.2021 22:00
Mathematics, 17.02.2021 22:00
Social Studies, 17.02.2021 22:00
Mathematics, 17.02.2021 22:00
Computers and Technology, 17.02.2021 22:00
Chemistry, 17.02.2021 22:00
Advanced Placement (AP), 17.02.2021 22:00
Mathematics, 17.02.2021 22:00