On January 1, 2021, Saturn Bank purchased a 26% stake in Swampdragon Inc. for $432.Atacquisition,Swampdragon's market value

Fantastic news! We've Found the answer you've been seeking!

Question:

On January 1, 2021, Saturn Bank purchased a 26% stake in Swampdragon Inc. for $432.Atacquisition,Swampdragon's market value equaled the book value of its net assets. On December 31, 2021, Swampdragon reported net income of $47 and paid $12 in dividends.

At what carrying value did Saturn Bank mark its investment in Swampdragon at the end of 2021.

Posted Date: Jun 26, 2024 12:25 PM

See More Questions

Assume that you are the recipient of this memo. How would you proceed? How might you consider Fayol's management functions in your planning? How would the concepts of conflict, uncertainty, and...
In a study of the effects of stress on illness, a researcher tallied the number of colds people contracted during a 6-month period as a function of the amount of stress they reported during that same...
The basic belief of a strategic perspective is that pay structures not aligned with the organizational strategy Multiple choice question. may become obstacles to the organization's success. are...
Chapters 1 - 10: What Does Extreme World Poverty Look Like? 15 Points Possible "Global poverty is one of the very worst problems that the world faces today (https:/...
Calculate the mass inertia for the following figures: a) R1 = 5CM R2=10CM L=20CM STEEL MATERIAL, density 7800kg/m3 Ri L R
Discuss the difference(s) between constructive and destructive conflict. In general, what are the advantages and disadvantages of conflict in a team? Provide an example of each type of conflict to...
Utility costs at one of Hannemann Corporation's factories are listed below: Machine-Hours Utility Cost March 5,021 $52,824 April 5,076 $53,287 May 5,074 $53,263 June 5,040 $52,991 July 5,087 $53,371...
Sales McKenzie Sales, Limited Comparative Income Statement This Year $ 7,340,000 4,620,000 2,720,000 Last Year $ 5,578,400 3,512,000 2,066,400 Cost of goods sold Gross margin Selling and...
An open-ended cylindrical standpipe contains a soil specimen as shown below. The soil is saturated with void ratio=0.75 and specific gravity = 2.7. Assuming both water levels are held at constant...
Post Corporation paid $330,000 cash for 75% of the outstanding common stock of Soft Company on January 1, 2020. There was no control premium and the fair value of the non-controlling interest was...

On January 1, 2021, Saturn Bank purchased a 26% stake in Swampdragon Inc. for $432.Atacquisition,Swampdragon's market value

Question:

Expert Answer:

Students also viewed these accounting questions