User Account

All Pages

Prepare all necessary journal entries in 2010

Assignment Help Accounting Basics
Reference no: EM13129717

Holmes, Inc. obtained significant influence over Nadal Corporation by buying 25% of Nadal's 30,000 outstanding shares of common stock at a total cost of $9 per share on January 1, 2010. On June 15, Nadal declared and paid a cash dividend of $36,000. On December 31, Nadal reported a net income of $85,000 for the year.

Prepare all necessary journal entries in 2010 for each situation.

Reference no: EM13129717

Questions Cloud

What is the required return using capm : If the expected value of the size factor is 4% and the expected value of the book-to-market factor is 5%, then what is the required return using the Fama-French three-factor model? (Assume that ai=0.0.) What is the required return using CAPM?
Example of integral : Create an integral whereby you are forced to use all four types of integration. Work the problem and explain why each (u-substitution, trig substitution, fractions, parts) are all needed.
Illustrate what are the yearly depreciation expenses in this : The machine is expected to have a working life of six years. If straight-line depreciation is used, illustrate what are the yearly depreciation expenses in this case?
What is a characteristic line : What is a characteristic line? How is this line used to estimate a stock's beta coefficient? Write out and explain the formula that relates total risk, market risk, and diversifiable risk.
Prepare all necessary journal entries in 2010 : Holmes, Inc. obtained significant influence over Nadal Corporation by buying 25% of Nadal's 30,000 outstanding shares of common stock at a total cost of $9 per share on January 1, 2010. On June 15, Nadal declared and paid a cash dividend of $36,00..
Overwood works fluctuating work schedules : Carrie Overwood works fluctuating work schedules. Besides her fixed salary of $1050 per week, her employment agreement provides for overtime pay at an extra half-rate for hours workded over 40.
Determine the inventories direct labor costs : Assuming that the company's $490,000 ending finished goods inventory account for 2011 had $250,000 of direct materials costs, determine the inventories direct labor costs and its overhead costs.
Compute the cost of goods available for sale : Compute the cost of goods available for sale and the units available for sale for this four week period. Assume that no sales occur during those four weeks.
Composition of the risky portfolio : Now add a set of indifference curves and illustrate how an investor's optimal portfolio is some combination of the risky portfolio and the risk-free asset. What is the composition of the risky portfolio?

Reviews

Write a Review

Accounting Basics Questions & Answers

  What amount of unrealized gain or loss

On January 1, 2011, Ross Corporation issued bonds with a maturity value of $200,000; the bond's stated rate of interest equaled the market interest rate on the issue date.

  External financial reporting

If Rushia Company determines that the fair value of the investment is now $3,900,000 and is using U.S. GAAP for its external financial reporting, which of the following is true?

  Net method of accounting for purchase discounts

Assuming Hydra uses the perpetual inventory system and the net method of accounting for purchase discounts, what amount is recorded as inventory from this purchase?

  Investment in common stock

A change from the cost method to the equity method of accounting for an investment in common stock resulting from an increase in the number of shares help by the investor requires:

  Expensing start-up costs

Recently, a group of university students decided to incorporate for the purposes of selling a process to recycle the waste product from manufacturing cheese.

  Inventory-notes-journal entries

Candlestick Corporation purchased raw material used for manufacturing candles from a supplier on June 1. The total amount of the purchase was $10,500 of which $3,000 was paid on the day of purchase. The remaining amount owed is due to the suppler ..

  Purchasing merchandise on account

When purchasing merchandise on account for say $88,000, but you pay $67,000 cash on the $88,000 due. Your sales are $145,000, and the ending inventory is $24,000 what would the gross profit be?

  Basics of potential investors

According to the textbook author, potential investors need information that is: a) relevant and reliable. b) fair and future-oriented. c) accurate and truthful. d) audited and complete.

  Non-recurring expenses on income statement

When normalizing operating results, non-recurring expenses that are reported within SG&A, CGS or other expense line items on a company's income statement:

  Determining pension worksheet-journal entries

Using the above information for ABC co., prepare a pension work sheet for 2008. Indicate (credit) entries by parentheses. Calculated amounts should be supported. Prepare the journal entries to reflect the accounting for the company's pension plan f..

  Consolidated financial statements of a us parent

Are you familiar with any foreign income tax planning strategies that are utilized by some multinational corporations? Do you know of any of the intricacies of how foreign income taxes impact the consolidated financial statements of a US parent?

  Why would a publicly traded company prefer to pay

Why would a publicly traded company prefer to pay a newly acquired company in only stock, in only cash, or decide to use both?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd