As a long- term investment, Fair Company purchased 20% of Midlin Companys 300,000 shares for $ 360,000
Question:
Required:
1. Assume no significant influence was acquired. Record the transactions from the purchase through the end of the year, including any adjustment for the investment’s fair value, if appropriate.
2. Assume significant influence was acquired. Record the transactions from the purchase through the end of the year, including any adjustment for the investment’s fair value, if appropriate.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 62% (16 reviews)
Requirement 1 Purchase Debit Credit Investments 360000 Cash 360000 Purch...View the full answer
Answered By
Ashington Waweru
I am a lecturer, research writer and also a qualified financial analyst and accountant. I am qualified and articulate in many disciplines including English, Accounting, Finance, Quantitative spreadsheet analysis, Economics, and Statistics. I am an expert with sixteen years of experience in online industry-related work. I have a master's in business administration and a bachelor’s degree in education, accounting, and economics options.
I am a writer and proofreading expert with sixteen years of experience in online writing, proofreading, and text editing. I have vast knowledge and experience in writing techniques and styles such as APA, ASA, MLA, Chicago, Turabian, IEEE, and many others.
I am also an online blogger and research writer with sixteen years of writing and proofreading articles and reports. I have written many scripts and articles for blogs, and I also specialize in search engine
I have sixteen years of experience in Excel data entry, Excel data analysis, R-studio quantitative analysis, SPSS quantitative analysis, research writing, and proofreading articles and reports. I will deliver the highest quality online and offline Excel, R, SPSS, and other spreadsheet solutions within your operational deadlines. I have also compiled many original Excel quantitative and text spreadsheets which solve client’s problems in my research writing career.
I have extensive enterprise resource planning accounting, financial modeling, financial reporting, and company analysis: customer relationship management, enterprise resource planning, financial accounting projects, and corporate finance.
I am articulate in psychology, engineering, nursing, counseling, project management, accounting, finance, quantitative spreadsheet analysis, statistical and economic analysis, among many other industry fields and academic disciplines. I work to solve problems and provide accurate and credible solutions and research reports in all industries in the global economy.
I have taught and conducted masters and Ph.D. thesis research for specialists in Quantitative finance, Financial Accounting, Actuarial science, Macroeconomics, Microeconomics, Risk Management, Managerial Economics, Engineering Economics, Financial economics, Taxation and many other disciplines including water engineering, psychology, e-commerce, mechanical engineering, leadership and many others.
I have developed many courses on online websites like Teachable and Thinkific. I also developed an accounting reporting automation software project for Utafiti sacco located at ILRI Uthiru Kenya when I was working there in year 2001.
I am a mature, self-motivated worker who delivers high-quality, on-time reports which solve client’s problems accurately.
I have written many academic and professional industry research papers and tutored many clients from college to university undergraduate, master's and Ph.D. students, and corporate professionals. I anticipate your hiring me.
I know I will deliver the highest quality work you will find anywhere to award me your project work. Please note that I am looking for a long-term work relationship with you. I look forward to you delivering the best service to you.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Financial Accounting
ISBN: 978-0078025549
3rd edition
Authors: J. David Spiceland, Wayne Thomas, Don Herrmann
Question Posted:
Students also viewed these Accounting questions
-
During 2014, Robertson Inc. earned net income of $5.6 billion and paid off $2.7 billion of long-term notes payable. Robertson Inc. raised $1.2 billion by issuing common shares, paid $3.0 billion to...
-
During 2010, Dwyer Corporation earned net income of $5.8 billion and paid off $2.4 billion of long-term notes payable. Dwyer raised $1.1 billion by issuing common stock, paid $3.5 billion to purchase...
-
During 2012, Granite Corporation earned net income of $5.1 billion and paid off $2.9 billion of long-term notes payable. Granite raised $1.6 billion by issuing common stock, paid $3.9 billion to...
-
The stator of a 220-V, 60-Hz induction motor has 12-turn coils. You wish to re-wound it for working at 380-V, 50-Hz. While maintaining the flux same as of original motor, calculate the number of...
-
Suppose the War on Poverty were starting anew and you were part of a presidential commission assigned the task of defining the poor. Would you choose an absolute or a relative concept of poverty?...
-
What kinds of provisions do couples typically include in a prenuptial agreement?
-
Identify at least three ways you can obtain information about the location of the debtors assets.
-
Part b of Example 7 used the central limit theorem to approximate the probability of coming out ahead if you bet $10 on red on each of 40 different roulette wheel spins. For each spin, the winnings...
-
1. Describe the purpose of doing a waste walk and the connection between ear waste walks and value stream maps? 2. What is the purpose Value-Added versus Non Value-Added analysis and what is its...
-
S&P Enterprises has provided data from the first three months of the year. The Controller has asked you to prepare the Cash Budget and the related Schedules for Expected cash collections and Payments...
-
On January 1, Marcums Landscape purchased 10,000 shares (35%) of the common stock of Atlantic Irrigation for $ 600,000. Below are amounts reported by both companies for the year? Required: For...
-
Alpha has made the following investments. _____ 1. 10% of the common stock of Beta. _____ 2. 40% of the bonds of Gamma. _____ 3. 75% of the common stock of Delta. _____ 4. 15% of the bonds of...
-
Estimate the value of the gas-phase diffusion coefficient for the following gas pairs using the Hirschfelder equation: a. Carbon dioxide and air at 310 K and 1:5 10 5 Pa b. Ethanol and air at 325 K...
-
Several states set their minimum hourly wage above the federal minimum wage. To offset higher minimum wages, many of these states offer firms tax incentives that lower the cost of borrowing and/or...
-
Consider each of the following and explain why it is or is not a valid instrument for estimating the labor supply elasticity and/or labor demand elasticity in the United States. (1) Variation in...
-
Suppose the wage increases. Show that in the long run, the firm will hire fewer workers. Decompose the employment change into substitution and scale effects.
-
Why does a profit-maximizing firm hire workers up to the point where the wage equals the value of marginal product? Show that this condition is identical to the one that requires a profit-maximizing...
-
Currently a firm pays 10% of each employees salary into a retirement account, regardless of whether the employee also contributes to the account. The firm is considering changing this system to a 10%...
-
Redo Problem P9-17B (a), (c), and (d) using the Tessier equation r g = max [1 e Cs/k ]C c with max = 1.0 h1 and k = 8 g/dm3. Data from problem P9-17B (a), (c), and (d) a. The reaction is to be...
-
Information graphics, also called infographics, are wildly popular, especially in online environments. Why do you think infographics continue to receive so much attention? How could infographics be...
-
The presence of biophysical limits to economic growth from the perspective of ecological economics is understood through the following three salient features: - The scale effect (i.e., the sheer size...
-
Lynch Engineering Firm provided the following income statement for 2012 in its annual financial report: 1. The company declared and paid a dividend of $550,000 in 2011 but did not declare any...
-
Micks Photographic Equipment began operation on January 1, 2011. During 2011, the company entered into the following transactions: 1. Issued 50,000 shares of $15 par value common stock for $30 per...
-
An article in BusinessWeek described how Bob Olstein, a successful stock analyst, predicts that the prices of stocks issued by firms that engage in aggressive accounting practices will go down,...
-
Which bank would you choose if the deposit period is at least one year, given the following conditions? Bank A offers an 8% annual interest rate compounded semiannually. Bank B offers a 7.9% annual...
-
Haldane Ltd. prepares its financial statements to 31 March each year. The company operates as a homeware retailer with retail outlets in many cities throughout the UK and some international...
-
Calculate the missing information in the STR Report. Round your answers to 1 decimal place. My Prop. Occupancy Comp. Set ADR REVPAR Index My. Prop. Comp. Set Index My Prop. Comp. Set. Current Month...
Study smarter with the SolutionInn App