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Russell owns 30 percent of the outstanding stock of Thacker and has the ability to significantly influence the investee's operations and decision making. On January 1, 2011, the balance in the Investment in Thacker account is $335,000. Amortization associated with this acquisition is $9,000 per year. In 2011, Thacker earns an income of $90,000 and pays cash dividends of $30,000. Previously, in 2010, Thacker had sold inventory costing $24,000 to Russell for $40,000. Russell consumed all but 25 percent of this merchandise during 2010 and used the rest during 2011. Thacker sold additional inventory costing $28,000 to Russell for $50,000 in 2011. Russell did not consume 40 percent of these 2011 purchases from Thacker until 2012.
a. What amount of equity method income would Russell recognize in 2011 from its ownership interest in Thacker?
b. What is the equity method balance in the Investment in Thacker account at the end of 2011?
advertising activities can be related to products by using activity-based costing. Would allocating these activities to products for financial statement reporting be acceptable according to GAAP?
After completing her analysis, Benzo shows the results to Fred Duval, the Applewood division president. Duval does not like what he sees. "If you show headquarters this analysis, they are going to ask us to phase out the Regal line, which we have ..
Compute the cash flows from operating activities under the indirect method.
What might Mehl do to alleviate this cash crunch? Record the entry that Mehl would make when it raises the needed cash.
Calculate Daycos asset turnover ratio and its profit margin and show how the two ratios in Part (a) can be used to determine Dayco's rate of return on assets.
Carson, Inc., uses a learning curve of 80 percent for all new products it develops. A trial run of 500 units of a new product shows total labor-related costs (direct, indirect labor, and fringe benefits) of $120,000.
How do these changes alter your conclusion from Part A? Add this new analysis and discussion of the possible change to your memo.
Show the relevant income statement extracts and statement of financial position extracts for the years 2007, 2008 and 2009.
An agency's Performance and Accountability Report (PAR) is considered a primary source of planning information. Why is this? When are PARs due (in draft and in final)?
Evaluate the amount of depreciation to be recognized for each mile that a rental automobile is driven.
Evaluate the gain on the sale but difficulty figuring out the nature of the gain. Can somebody help me out?
what is the total cost of serving each of the following parties of diners and compute the activity rates for each of the three activities.
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