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1. Simmons Corporation owns stock of Armstrong, Inc prior to 2010 the investment was accounted for using the equity method. In early 2010, Simmons sold part of its investment in Armstrong, and began using the fair value method. In 2010, Armstrong earned net income of $80,000 and paid dividends of $95,000. Prepare Simmons's entries related to Armstrong's net income and dividends, assuming Simmons now owns 10% of Armstrong's stock.
REQUIRED: Prepare the accounting records for Small Construction Co. Prepare the bank reconciliation at June 30th , 2016. Prepare the General Journal for the months of May and
When Post Collected the receivable on February 15, 2012, the U.S. dolalr equivalent was $95,000. In PoST'S 2010 Consolidated income statement, how much should it report as f
The casebook certainly is a valuable tool; without it, it would be difficult to have an organized case. Class, what is the format for a casebook? Does it need to be manu
The cash balance in ABC Company's general ledger is $14,000 and the cash balance shown on its bank statement is $19,000. Reconciling items include outstanding checks totalin
Active GAAP and IFRS Convergence projects of the FASB and IASB. Potential impact on business and the accounting profession of changes in accounting standards or securities law
For an M/M/1 queueing system, L = λ (µ - λ). Suppose that λ and µ are both doubled. How does L change? How does W change? How does WQ change? How does LQ change? (Remember t
Which of the following statements is true regarding inventory transfers between a parent and its subsidiary, using the initial value method?
FX Corporation leases new equipment on December 31, 2012. The lease transfers ownership to FX at the end of the lease. The present value of the lease payments is $240,000.
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