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On January 1, 2013, Julie Corp. acquired a 10% interest in Mizz Enterprises. On January 1, 2014, Julie acquired an additional 20% Mizz's common stock. No goodwill resulted from either purchase. Mizz reported net incomes of $600,000 and $650,000 for 2013 and 2014, respectively. Dividends paid by Mizz amounted to $200,000 in 2013 and $350,000 in 2014. What amount of Equity Income should be reported by Julie Corp in 2014?
Calculate depreciation for 2011 and 2012 using each of the following methods. Round all computations to the nearest dollar.
Abbott Landscaping purchased a tractor at a cost of $36,000 and sold it three years later for $18,000. Record the sale
One of the two conditions that must be met related to the deductibility of moving expenses for a self-employed individual is a 78-week minimum work period.
Activity-based costing systems and traditional costing systems tend to always identify the same products as being the most profitable
Recent study illustrates that nearly two (2) million juveniles are processed through juvenile courts across the United States each year. Depending on the nature of the crime, juveniles may face detention or incarceration if they are convicted.
What is the major source of the change in net assets that occurred in 2007 from the change that occurred in 2008? In your opinion, is this trend likely to continue? Why/why not?
Costs associated with the bond issuance were $160,000. Wasserman uses the straight-line method to amortize bond issue costs. Prepare the December 31, 2011, entry to record 2011 bond issue cost amortization.
if the balance in the finished goods inventory account increased by 30000 during the period and the cost of goods
Explain why some firms have high price-earnings ratios? Give examples in which there is poor matching of revenues and expenses
Use this information to record the general journal entries (without explanation) for April 15th and May 15th
1. a new operating system for an existing machine is expected to cost 250000 and have a useful life of four years. the
On January 1, 2006, Jamona Corp. purchased 12% bonds, having a maturity value of $300,000, for $322,744.44. The bonds provide the bondholders with a 10% yield. They are dated January 1, 2006, and mature January 1, 2011, with interest receivable De..
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