User Account

All Pages

What is the account balance of acme investment

Assignment Help Accounting Basics
Reference no: EM131572598

Question - On January 10, Acme Ventures Inc. purchased 35% of the outstanding stock of Gamma Ray Manufacturing Corp. The purchase was 38,000 shares at $22 per share. Acme received dividends from Gamma Ray in the amount of $40,000 on June 15 and again on December 15. Gamma reported net income for the year ended December 31 in the amount of $550,000. What is the account balance of Acme's investment in Gamma Ray on December 31?

Reference no: EM131572598

Questions Cloud

Discuss the worlds first homicide : discuss competing theories from the textbook readings Classical, Neoclassical, and Biological explanations
What revisions to their mission statement would be warranted : If the more traditionally led company adopted a servant leadership model, what revisions to their mission/values statement would be warranted?
Discuss donald sterling built an empire : Determine whether or not you believe social controls played a significant role in Donald Sterling's loss of ownership of the Los Angeles Clippers
Identify the practice issues in the scenario : Identify the practice issues in the scenario. What tools for ensuring patient safety were used or not used and Identify the ethical issues legal implications
What is the account balance of acme investment : On January 10, Acme Ventures Inc. purchased 35% of the outstanding stock of Gamma Ray Manufacturing Corp. What is the account balance of Acme's investment
Write an essay explaining the basic facts : Write an essay explaining the basic facts of the case and who was suing whom. Explain who won, and why the majority decided that way
Prepare a five pages paper about humor and persuasion : Prepare a three to five pages paper about Humor and Persuasion. Your paper should delineate three or more aspects of the effectiveness of humor.
Current interest rates on two-year : Using only the pure expectations theory, what are the current interest rates on two-year and three-year securities?
What important skill a criminal investigator should possess : The most important skill a criminal investigator should possess, and that will be used most often is the ability to converse well with a wide variety of people

Reviews

Write a Review

Accounting Basics Questions & Answers

  Dresser companys weekly payroll paid on fridays totals

dresser companys weekly payroll paid on fridays totals 6200. employees work a 5-day week. prepare dressers adjusting

  The increase in certification programs and continuing

laserwords inc. is a book distributor that had been operating in its original facility since 1987. the increase in

  Beagle corporation has 20000 shares of 10 par common stock

beagle corporation has 20000 shares of 10 par common stock outstanding and 10000 shares of 100par 6 cumulative

  Make journal entries required to dispose off over or under

make journal entries required to dispose off over or under applied manufacturing overhead assuming it is allocated

  Prepare journal entries for the transactions listed above

The 10% bonds payable pay interest every January 1 and July 1.The interest for the 6 months ended December 31, 2010, has not been paid or recorded.

  Create a long-term debtor-creditor relationship

The usual impetus for transactions that create a long-term debtor-creditor relationship between members of a consolidated group is due to the:

  Prepare the disposal account recording the profit

Kim owns a chinese restaurant. The business's fixed assets include some kitchen equipment. Prepare the disposal account recording the profit orloss on the sale of the kitchen equipment.

  Prepare the journal entries for the following credit

pringle corporation has been authorized to issue 20000 shares of 100 par value 7 noncumulative preferred stock and

  Requisitioned from the materials storeroom daily

Rollie Manufacturing makes, among other things, wheels for roller skates. Manufacturing Department B receives plastic wheel casings from Manufacturing Department A and puts them on axles along with some ball bearings. The wheel casings have been i..

  Immediately after adam''s admission to the partnership

Immediately after Adam's admission to the partnership, Leah sells one-fourth of her interest to Denton for $35,000. Journalize the entry to record this transaction.

  Straight-line method both to determine interest expense

One year from the issue date (July 1, 2012), the corporation exercised its call privilege and retired the bonds for $395,000. The corporation uses the straight-line method both to determine interest expense and to amortize debt issue costs.

  Describe the entrepreneurial innovation model

List the four components that describe the entrepreneurial innovation model. Which component is the most critical to success? Defend your choice.

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