Already have an account? Get multiple benefits of using own account!
Login in your account..!
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Magellan Corporation acquired 80 percent ownership of Dipper Corporation on January 1, 20X8, for $200,000. At that date, Dipper reported common stock outstanding of $75,000 and retained earnings of $150,000. The fair value of the noncontrolling interest was $50,000. The differential is assigned to equipment, which had a fair value $25,000 greater than book value and a remaining economic life of five years at the date of the business combination. Canton Dipper reported net income of $40,000 and paid dividends of $20,000 in 20X8.
Provide the following:
1. The journal entries recorded by Magellan during 20X8 on its books if it accounts for its investment in Dipper using the equity method.
2. The eliminating entries needed at December 31, 20X8, to prepare consolidated financial statements.
The process of selecting among potential major corporate investments is called capital budgeting. The goal of the capital budgeting decisions is to select capital projects that will decrease the value of the firm.
On October 1, 2013, Chief Corporation declared and issued a 14% stock dividend. Before this date, Chief had 89,000 shares of $5 par common stock outstanding. The market value of Chief Corporation on the date of declaration was $10 per share. As a res..
Write a 700- to 1,050-word paper in which you define the functions and role of law in business and society. Discuss the functions and role of law in your past or present job or industry
Beagle Corporation has 23,000 shares of $10 par common stock outstanding and 17,000 shares of $100 par, 4.50% cumulative, non participating preferred stock outstanding. Dividends have not been paid for the past two years. This year, a $440,000 divide..
How important is it to implement these preventive practices in this segment of the population?
Your firm is contemplating the purchase of a new $575,000 computer-based order entry system. The system will be depreciated straight-line to zero over its five-year life. It will be worth $59,000 at the end of that time. You will save $265,000 before..
Generally speaking, many companies are interested in the potential cost savings of using the same product and promotional mix on a global basis.
Calculate expected return, variance and standard deviation for individual stocks and portfolios and describing the key points of portfolio theory.
Prepare a paper on the topic of "The Drug Trade" As a minimum, your paper should analyze, describe, and critique: the participants, victims, causes, geographic region(s) affected
This module item is similar to the previous case study. You need to analyze and study the subject presented below and compose a report answering the questions posed.
If the president is right, what will be the effect on the company's monthly net operating income or loss? Using the incremental approach in perparing the answer?
Birch issued 200 shares of $12 par common stock in exchange for a piece of equipment with a current market value of $3,000. Which of the following is not part of the journal entry for this transaction?
lemmiwinks industries has a standard cost system in which it applied overhead on the basis of direct labor hours. it
a manufacturing company has a beginning finished goods inventory of 16200 raw material purchases of 19600 cost of goods
1.prepare the january 1 2013 journal entry to record the bonds issuance.legacy issues 670000 of 6.0 four-year bonds
eckert company is involved in producing and selling high-end golf equipment. the company has recently been involved in
In the financial statements for its fiscal year ended December 31, Year 2, Investor should report a realized loss on disposal of the Investee Co. shares equal to:
what is a current liability? what is a non-current liability? what is the difference between the two types of
spectrum book company has two divisions the brick and mortar division sells books through more than 100 bookstores
The accounts of Coyote Corporation for 2014 .
barlow company manufactures three products a b and c. the selling price variable costs and contribution margin for one
Stacey and Andrew each own one-half of the stock in Parakeet Corporation, a calendar year taxpayer. Cash distributions from Parakeet are: $350,000 to Stacey on April 1 and $150,000 to Andrew on May 1.
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!
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd