User Account

All Pages

What amount would l record it investment

Assignment Help Accounting Basics
Reference no: EM132048211

Question - On January 1, 2015 K inc and L inc formed a joint venture called KL INC. K invested plant and equipment with a book value of $500,000 and a fair value of $800,000 for 30% interest in the venture. The plant and equipment were estimated to provide 5 years of utility to KL.

L contributed assets with a fair value of $2,000,000 including $200,000 in cash for a 70% stake in KL.

KL reposted a net income of $3,000,000 for 2015.

What amount would L record it's investment in KL on January 1?

Reference no: EM132048211

Questions Cloud

What is the direction of the torque exerted : a. Around the pivot point of the rope, what is the direction of the torque exerted by the 20 kg mass?
Describe the cash flows associated with preferred stock : Preferred stock is said to be a hybrid of common stock and bonds. Explain fully. Describe the cash flows associated with preferred and their valuation.
What is the speed of the canister : What is the speed of the canister at the instant the spring returns to its relaxed length (which is when the canister loses contact with the spring)?
Corporation produces wooden and aluminum baseball bats : Beltran Corporation produces wooden and aluminum baseball bats. How much manufacturing overhead did Beltran apply during the year?
What amount would l record it investment : On January 1, 2015 K inc and L inc formed a joint venture called KL INC. What amount would L record it's investment in KL on January 1
Altitude of the plane : When the altitude of the plane is 1.9 km, a flare is released from the plane. The flare hits the target on the ground. What is the angle ??
Prepare common-size financial statements : Prepare common-size financial statements for Leslie Fay for the period 1987-1991. For that same period, compute for Leslie Fay the ratios shown in Exhibit 2.
What is the new range : Suppose the launch speed is doubled, and the projectile is fired at the same angle above the ground. What is the new range?
What amount will you receive this year : This year the board of directors decides to distribute $3,750,000 in dividends. You own 50 shares of common stock. What amount will you receive this year?

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