User Account

All Pages

Provide Outdoor Life Inc journal entries for transactions

Assignment Help Accounting Basics
Reference no: EM132879238

Problem - Equity method for stock investment - On January 15, 2012, Outdoor Life Inc. purchased 94,500 shares of Escape Tours Inc. directly from one of the founders for a price of $38 per share. Escape Tours has 225,000 shares outstanding, including the Outdoor Life shares. On July 2, 2012, Escape Tours paid $230,000 in total dividends to its shareholders. On December 31, 2012, Escape Tours reported a net income of $695,000 for the year. Outdoor Life uses the equity method in accounting for its investment in Escape Tours. Provide the Outdoor Life Inc. journal entries for the transactions involving its investment in Escape Tours Inc. during 2012.

Reference no: EM132879238

Questions Cloud

What is the organization : You have been asked to present at a national conference on the work of your Human Services research organization. Select a Human Services research organization
How much would the afn for the coming year change : Based on the AFN equation, by how much would the AFN for the coming year change if HHW increased the payout from 10% to the new and higher level?
Supply chain management is integration of activities : Supply chain management is the integration of activities that procure materials and services, transform them into intermediate goods and final products,
Which strategies would protect bank against rising interest : Which strategies would protect the bank against rising interest rates? A commercial bank recognizes that its net income suffers whenever interest rates increase
Provide Outdoor Life Inc journal entries for transactions : Provide the Outdoor Life Inc. journal entries for the transactions involving its investment in Escape Tours Inc. during 2012
What unit sales volume would income equal costs : Longstreet Inc. has fixed operating costs of $300,000, What is the company's break-even point, i.e., at what unit sales volume would income equal costs?
Did john mackey act in ethical or unethical manner : Discuss what you think John Mackey's online comments about Wild Oats reveal about his attitudes. Did John Mackey act in an ethical or unethical manner?
Explain the rationale for design : Explain the rationale for your design. You may also include non-fi nancial benefits.
Calculate the market risk premium and the expected rate : Calculate the market risk premium and the expected rate of return on the market. Stock A has a beta of 0.6, and investors expect it to return 10%.

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: +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