User Account

All Pages

What is the amount of the investment account immediately

Assignment Help Financial Accounting
Reference no: EM132867165

On January 1, 2018, Fancy Inc. acquired 20% of the ordinary shares of Classy Ltd. for $250,000. On January 1, 2019, Fancy acquired another 10% of the ordinary shares of Classy for $120,000. Fancy was able to exercise significant influence over the policies of Classy after the first purchase and continued to exercise significant influence over the policies of Classy after the second purchase.

Problem 1: The fair value of Classy's identifiable net assets was equal to the book value on both acquisition dates. Classy's shareholders' equity was $1,000,000 on January 1, 2018 and $1,100,000 on January 1, 2019. There was no impairment to Classy's goodwill from January 1, 2018 to January 1, 2019. What is the amount of the investment account immediately after the second share purchase?

Option 1: $348,000
Option 2: $370,000.00
Option 3: $390,000.00
Option 4: $330,000.00

Reference no: EM132867165

Questions Cloud

Formulate null hypothesis : Formulate a null hypothesis and the corresponding alternative hypothesis that could be tested.
What is the fair price for one of Cyberdyne zero coupon bond : Cyberdyne Systems is issuing a series of zero coupon bonds to raise $500M to fund research and development. What is the fair price for one of Cyberdyne
Key measures that providers use to monitor patient safety : What are key measures that providers use to monitor patient safety. Because of seriousness of managing health care quality outcomes in patient-safe environment
Explain primary and secondary stakeholder relationships : Explain why companies should be concerned about reputation management.
What is the amount of the investment account immediately : Classy's goodwill from January 1, 2018 to January 1, 2019. What is the amount of the investment account immediately after the second share purchase?
Write the equation to predict estimated total lease cost : The contract states that you must pay the leasing company Rs.3,000 per year and Rs.0.005 per copy. Write the equation to predict estimated total lease cost
FINA6000 Managing Finance Assignment : FINA6000 Managing Finance Assignment Help and Solution, Laureate International Universities - Assessment Writing Service
Discuss customer portfolio analysis of domino pizza malaysia : Step to Apply Customer Portfolio Management which is step 1 (Market segmentation and Activity-based costing ), Step 2 (Multiple dimensions
What is karen new rrsp contribution room : Karen, who participated in her employer's DCPP had earned income of $45,000 in 2014 and $50,000 in 2015. Her 2014 Pension adjustment

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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