User Account

All Pages

Prepare on pioneer company books journal entries

Assignment Help Accounting Basics
Reference no: EM131866961

Question - On January 1, 2014, Pioneer Company purchased 80% of the common stock of Shipley Company for $600,000. At that time, Shipley's stockholders' equity consisted of the following:

Common stock $220,000

Other contributed capital 90,000

Retained earnings 320,000

During 2014, Shipley distributed a dividend in the amount of $120,000 and at year-end reported a $320,000 net income. Any difference between implied and book value relates to subsidiary goodwill. Pioneer Company uses the equity method to record its investment. No impairment of goodwill is observed in the first year.

Required:

A. Prepare on Pioneer Company's books journal entries to record the investment related activities for 2014.

B. Prepare the workpaper eliminating entries for a workpaper on December 31, 2014.

Reference no: EM131866961

Questions Cloud

Preparation of a consolidated statements workpaper : Prepared, in general journal form, all eliminating entries for the preparation of a consolidated statements workpaper on December 31, 2014
Dealing with rapid expansion : Ideas on dealing with rapid expansion and subsequently the amount of recruiting. Need credible sources and best if it's a hospitality example.
Which interventions failed to consider social determinants : Do the social determinants shape population health or does population health create social determinants?
Impediments to international trade and investment : What is the term used to describe a market which has few impediments to international trade and investment?
Prepare on pioneer company books journal entries : During 2014, Shipley distributed a dividend in the amount of $120,000, Prepare on Pioneer Company's books journal entries to record the investment
Test experimental drugs in foreign countries : Are drug companies that test experimental drugs in foreign countries acting ethically?
Discuss about the sexual dysfunction disorder : Choose one sexual dysfunction disorder and one paraphilic disorder. Create a 6- to 9-slide PowerPoint presentation discussing the disorders.
Determine a hypothesis based on the data : Explore how to organize, display and analyze data. There are a range of different data sets that deal with quality measures, insurance use.
Interpret a multiple regression equation : The assignment was to calculate the regression and interpret the estimated regression coefficients. I am having trouble putting this into words.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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