Question 1 Corvallis Corporation owns 80% of the stock of Little Harrisburg, Inc. At December 31, 2012, Little Harrisburg had the Not yet answered following'summarized balance sheet: LITTLE HARRISBURG, INC Points out of 1.00 Balance Sheet Flag December 31, 2012 question ASSETS Current Assets $100,000 Property, plant and equipement 400.000 $500,000 LIABILITIES & EQUITY Current liabilities $50,000 Long-torm dobt 150,000 Capital stock 50,000 Retained earnings 250,000 $500,000 The earnings of Little Harrisburg, Inc., for 2012 were $50,000 after tax What would be the amount of noncontrolling interest on the balance sheet of Corvalis Corporation? Answer Question 2 Corvallis Corporation owns 80% of the stock of Little Harrisburg, Inc. At December 31, 2012, Little Harrisburg had the following summarized balance sheet Not yet answered LITTLE HARRISBURG, INC Points out of 1.00 Balance Sheet P Flag question December 31, 2012 ASSETS Current Assets $100,000 Property, plant and equipement 400.000 $500,000 LIABILITIES & EQUITY Current liabilities $50,000 Long-term debt 150,000 Capital stock 50,000 Retained earnings 250.000 $500,000 The earnings of Little Hamrisburg, Inc, for 2012 were $50,000 after tax What would be the amount of noncontrolling interest in share of earnings on the income statoment of Corvallis Corporation? Answer Question 3 Aggarawal Company has had 10,000 shares of 10% , $100 par-value preferred stock and 80,000 shares of $5 stated-value common stock outstanding for the last three years. During that period, dividends paid totaled $0, $200,000, and $220,000 for each year, respectively Not yet answered Points out of Compute the amount of dividends that must have been paid to preferred stockholders and common stockholders in year three assuming the preferred stock is nonparticipating and cumultive. 1.00 PFlag question Please enter your answer as follows preferred $99,999 common $88,888 Answer Question 4 Aggarawal Company has had 10,000 shares of 10 % , $100 par -value preferred stock and 80,000 shares of $5 stated-value common stock outstanding for the last three years. During that period, dividends paid totaled $0, $200,000, and $220,000 for each year, respectively Not yet answered Points out of Compute the amount of dividends that must have been paid to preferred stockholders and common stockholders in year three assuming the preferred stock participates up to 12 % of its par value and is cumulative. 100 P Flag question Please enter your answer as follows preferred $99,999 common $88,888 Answer Question 5 Aggarawal Company has had 10,000 shares of 10 % , $100 par-value preferred stock and 80,000 shares of $5 stated-value common stock outstanding for the last three years During that period, dividends paid totaled $0, $200,000, and $220,000 for each year, rospectively Not yet answered Points out of Compute the amount of dividends that must have been paid to proferred stockholders and common stockholders in year three assuming the preferred stock is fully participating and is cumulative 1 00 P Flag question Please enter your answer as follows preferred $99,999 common $88,888 Answor Question 6 Aggarawal Company has had 10,000 shares of 10% , $100 par-value preferred stock and 80.000 shares of $5 stated-value Not yet common stock outstanding for the last three years. During that period, dividends paid totaled $0, $200,000, and $220,000 for each year, respectively answered Points out of Compute the amount of dividends that must have been paid to preferred stockholders and common stockholders in year three assuming the preferred stock is nonarticipating and noncumulative. Please enter your answer 1.00 P Flag question er as follows: preferred $99,999 common $88,888 Answer Question 7 An item of equipment acquired on January 1 at a cost of $100,000 has an estimated life of 10 years. Assuming that the equipment will have a salvage value of $10,000, determine the depreciation for each of the first three years by the straight- Not yet answered ine method Points out of Answer as follows year 1 $99,999, year 2 $88,888, year 3 $77,777 100 Flag Answer question Question 8 An item of equipment acquired on January 1 at a cost of $100,000 has an estimated life of 10 years Assuming that the equipment will have a salvage value of $10,000, determine the depreciation for each of the first three years by the double declining balance method Not yet answered Points out of Answer as follows year 1 $99,999, year 2 $88,888, year 3 $77,777 1.00 P Flag question Answor Question 9 An item of equipment acquired on January 1 at a cost of $100,000 has an estimated life of 10 years. Assuming that the Not yet equipment will have a salvage value of $10,000, determine the depreciation for each of the first three years by the sum-of- the-years' digits method. answered Paints out of 1.00 Answer as follows year 1 $99,999, year 2 $88,888, year 3 $77,777 PFlag