{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-05-26T14:10:50-04:00", "answer_date": "2024-05-26 14:10:50", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "1743814", "url": "\/study-help\/questions\/big-owns-30-of-the-outstanding-voting-common-stock-of-1743814", "question_creation_date_js": "2024-05-26T14:10:50-04:00", "question_creation_date": "May 26, 2024 02:10 PM", "meta_title": "[Solved] Big owns 30% of the outstanding voting co | SolutionInn", "meta_description": "Answer of - Big owns 30% of the outstanding voting common stock of Little and has the ability to significantly influence the inves | SolutionInn", "meta_keywords": "big,owns,30%,outstanding,voting,common,stock,little,ability,significantly,influence,investee", "question_title_h1": " Big owns 30% of the outstanding voting common stock of Little and has the ability to significantly influence the investee's operations and decision making.", "question_title": " Big owns 30% of the outstanding voting common stock of Little", "question_title_for_js_snippet": "Big owns 30 of the outstanding voting common stock of Little and has the ability to significantly influence the investee's operations and decision making On January 1, 20X1, the balance in the Investment in Little Co account was $402,000 There is no amortization associated with the purchase of this investment During 20X1, Little earned income of $108,000 and paid cash dividends of $36,000 Previously in 20X0, Little had sold inventory costing $28,800 to Big for $48,000 All but 25 of this merchandise was consumed by Big during 20X0 The remainder was used during 20X1 Additional sales were made to Big in 20X1 inventory costing $33,600 was transferred at a price of $60,000 Of this total, 40 was not consumed until 20X2 What amount of equity income would Big have recognized in 20X1 from its ownership interest in Little ", "question_description": "\"image", "transcribed_text": "Big owns 30% of the outstanding voting common stock of Little and has the ability to significantly influence the investee's operations and decision making. On January 1, 20X1, the balance in the Investment in Little Co. account was $402,000. There is no amortization associated with the purchase of this investment. During 20X1, Little earned income of $108,000 and paid cash dividends of $36,000. Previously in 20X0, Little had sold inventory costing $28,800 to Big for $48,000. All but 25% of this merchandise was consumed by Big during 20X0. The remainder was used during 20X1. Additional sales were made to Big in 20X1; inventory costing $33,600 was transferred at a price of $60,000. Of this total, 40% was not consumed until 20X2. What amount of equity income would Big have recognized in 20X1 from its ownership interest in Little?", "related_book": { "title": "Fundamental accounting principle", "isbn": "1259119831, 9781259311703, 978-1259119835, 1259311708, 978-0078025587", "edition": "21st edition", "authors": "John J. Wild, Ken W. Shaw, Barbara Chiappetta", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/267.jpg", "uri": "\/textbooks\/fundamental-accounting-principle-21st-edition-267", "see_more_uri": "" }, "free_related_book": { "isbn": "1465445072", "uri": "\/textbooks\/the-big-book-of-airplanes-1st-edition-9781465445070-115846", "name": "The Big Book Of Airplanes", "edition": "1st Edition" }, "question_posted": "2024-05-26 14:10:50", "see_more_questions_link": "\/study-help\/questions\/business-economics-2023-September-08", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/study-help\/questions\/necked-amber-purchased-a-bond-for-103890-exactly-two-years-701077", "description": "Necked Amber purchased a bond for $1,038.90 exactly two years ago. At that time, the bond had a maturity of five years and a coupon rate of 10% (paid semi-annually). 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