Question
1 )Crowe Corp.'s investment portfolio is as follows: Menjou Inc. Investment Purchased shares on Dec 21, 2016: 5,000 Cost on Dec 21, 2016: $65,000 Fair
1 )Crowe Corp.'s investment portfolio is as follows: Menjou Inc. Investment Purchased shares on Dec 21, 2016: 5,000 Cost on Dec 21, 2016: $65,000 Fair Value on Dec 31, 2016: $66,000 Sold for on Jan 10, 2017: $68,200 Crowe Corp. accounts for its investment in Menjou Inc. using the available-for-sale method. Franciosa Inc. Investment Purchased shares on Dec 21, 2016: 4,000 Cost on Dec 21, 2016: $64,800 Fair Value on Dec 31, 2016: $64,000 Sold for on Jan 10, 2017: $65,200 Crowe Corp. accounts for its investment in Franciosa Inc. using the Tading method. What should Crowe Corp. report on its Dec 31, 2017 income statement as income from investments?
2)
Voight Corp.2011 CPA31.94.Investments [10] Voight Corp. has owned 27% of the common stock of Donat Inc. for a number of years, and has the ability to exercise significant influence over Donat Inc.. The following information relates to Voight Corp.'s investment in Donat Inc. during 2016 Carrying amount of Voight Corp.'s investment in Donat Inc.Dec 31, 2015: $220000 Net income of Donat Inc. for 2016: $600000 Total dividends paid to Donat Inc.'s stockholders during 2016: $400000 What is the carrying amount of Voight Corp.'s investment in Donat Inc. at Dec 31, 2016?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started