Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please show all work, thanks. Using the following information for the next two questions: muary 1, 2012, Cale Corp. paid $1,020,000 to acquire Kaltop Co.

Please show all work, thanks. image text in transcribed
Using the following information for the next two questions: muary 1, 2012, Cale Corp. paid $1,020,000 to acquire Kaltop Co. Kaltop maintained ation is available for Kaltop's assets, liabilities, and stockholders' equity accounts on ncorporation. Cale used the equity method to account for the investment. The following inform January 1, 2012: Kaltop earned net income for 2012 of $126,000 and paid dividends of $48,000 during the year 1-9) The 2012 total amrtzation of allcations is caceulatd o e A) S6,400. B) $3,800. C) $4,000. D) $(2,400). E) S(1,000). 15) What is the balance in Cale's investment in subsidiary account at the end of 20122 A) $1,096,200. B) $1,020,000. C) $1,144,400. D) $1,099,000. E) $1,098,000

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

Intermediate Accounting

Authors: J. David Spiceland, James Sepe, Mark Nelson

6th edition

978-0077328894, 71313974, 9780077395810, 77328892, 9780071313971, 77395816, 978-0077400163

More Books

Students also viewed these Accounting questions

Question

What were your most important educational experiences?

Answered: 1 week ago

Question

Which personal relationships influenced you the most?

Answered: 1 week ago