FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Crane Corporation earns $830000 and pays cash dividends of $295000 during 2021. Dexter Corporation owns 3000 of the 10000 outstanding shares of Crane What amount

image text in transcribed
Crane Corporation earns $830000 and pays cash dividends of $295000 during 2021. Dexter Corporation owns 3000 of the 10000 outstanding shares of Crane What amount should Dexter show in the investment account at December 31, 2021 if the beginning of the year balance in the account was $1070000? OS M Q ME O M O $160500 O $1319000 O $1070000 O $1230500 M

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Principles

Accounting Principles

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

10th Edition

1119491630, 978-1119491637, 978-0470534793

More Books

Students also viewed these Accounting questions

Question

★★★★★
The following direct labor variance analysis was performed for Morris. Requirements 1. Record Morris's direct labor journal entry (use Wages Payable). 2. Explain what management will do with this...

Answered: 1 week ago

Question

★★★★★
The City Square Grocery and Meat Market has a large meat locker in which a constant temperature of approximately 40ยบ F should be maintained. The market manager has decided to construct an...

Answered: 1 week ago

Question

★★★★★
The charts are well placed on each page unlike the running heads and footers.

Answered: 1 week ago

Question

★★★★★
Cars arrive at Carla's Muffler shop for repair work at an average of 3 per hour, following an exponential distribution. (a) What is the expected time between arrivals? (b) What is the variance of the...

Answered: 1 week ago

Question

★★★★★
Derek plans to retire on his 65th birthday. However, he plans to work part-time until he turns 74.00. During these years of part-time work, he will neither make deposits to nor take withdrawals from...

Answered: 1 week ago

Question

★★★★★
Tabula rasa' or blank slate was defined by Locke regarding human once they born which represent their mental state. Socialization agents play a vital role in shaping individual's characters. How far...

Answered: 1 week ago

Question

★★★★★
If Neon Lights, LLC has gross receipts of $25 million for the taxable year, they will not be considered an SSTB if less than what percentage of their gross receipts are attributable to an SSTB...

Answered: 1 week ago

Question

★★★★★
The CFO of Spotify Inc. has summarized its free cash flows for the next three years in the following table. The cash flows are expected to grow at a constant growth rate 2.00% afterwards. The company...

Answered: 1 week ago

Question

★★★★★
The Department of Investments purchased a parcel of land for $160,000 and proceeded to pay $8,000 for sewage services, $12,000 to survey the land, and $15,000 to pave a driveway. If the property was...

Answered: 1 week ago

Question

★★★★★
Aaron Mechanic, CFA is responsible for valuing the shares of Duotronics Research Laboratories (DRL). The stock is currently trading at $8.75 and he gathers the following financial information about...

Answered: 1 week ago

Question

★★★★★
You have just been served with legal documents that suggest that you were scrubbed in on a procedure in which your patient was burned. You are charged with negligence. For what reasons could you be...

Answered: 1 week ago

Previous Question Next Question