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Question 6 - financial assets. Please calculate this, and explain how you get every calculation, so i can do it again myself. b) Report the
Question 6 - financial assets.
Please calculate this, and explain how you get every calculation, so i can do it again myself.
b) Report the financial assets investment: The beginning balance sheet of LetsDo Corporation include the following: Long term Investment in ToGo Software (Equity method investment) S500.000. LetsDo completed the following transactions during the year: Mar 16 Purchases 1.500 shares of Spot, Inc., as a long-term available for-sale investment, paying $13.00 per share. May 10 Received cash dividend of$2.00 per share on Spot investment. Aug 20 Received cash dividend of S10.000 from ToGo Software. Dec 31 Received annual reports from ToGo Software, net income for the year was $350.000 of this amount LetsDo proportion is 35%. At year-end, the fair market values of LetsDo investment are Spot, S40.000; ToGo, S900.000
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