User Account

All Pages

What will be the gain or loss on january

Assignment Help Accounting Basics
Reference no: EM132825078

Goodie Corporation owns 20,000 shares of JFC Corporation recorded as "Investment in JFC Corporation" amounting to P 1.1 million as of December 31, 2019.

On December 15, 2020, Goodie Corporation declared a property dividend to shareholders of record of December 30, distributable on January 5, 2021. The corporation will distribute three (3) ordinary shares of JFC Corporation for every share of Goodie Corporation owned by the shareholders. Goodie Corporation has 5,000 issued and outstanding shares at the time of declaration. The carrying value of JFC as of December 15, 2020 is 60 per share.

The fair market value of JFC Corporation as follows:

December 15 - 65 per share;

December 31 - 67 per share;

January 5 - 66 per share.

Requirement:

Question 1: Journalize the transactions occurred in relation to property dividends.

Question 2: What will be the gain or loss on January 5, 2021?

Reference no: EM132825078

Questions Cloud

Developing and implementing a remuneration strategy : Discuss in the context of developing and implementing a remuneration strategy, what roles the HR team are expected to perform
What will be the company projected benefit obligation : If no estimates are changed in the meantime, what will be the company's projected benefit obligation at the end of 2024 with respect to Davenport
How would you define public opinion : 1. How would you define public opinion? Describe the various agencies through which public opinion is formed in Bangladesh.
What was the final diagnosis and outcome : Maternal health outcomes: Provide an example/story/incidence in which a woman died in relation to childbirth. What was the final diagnosis and/or outcome?
What will be the gain or loss on january : Goodie Corporation owns 20,000 shares, Journalize the transactions occurred in relation to property dividends. What will be the gain or loss on January 5, 2021?
Operational Planning and Policy : Consider your company or one that you know well and evaluate the words of their mission and vision statements.
Develop a communication plan to encourage : If you were assigned to a problematic unit with some personal issues, including aggressive behavior, develop a communication plan
What is a health care organizations administrative role : What is a health care organization's administrative role in executing risk management policies and ensuring compliance with managed care organization (MCO).
What the importance of team work : 1. What the importance of team work? 2. Define the team work? 3. List the roles of team work? 4. What is the distinction between role and responsibilities?

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