Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Select the statement that is least accurate: Cyber-threats are the primary risk facing organizations at this point in history. The Foreign Corrupt Practices Act requirements

Select the statement that is least accurate: Cyber-threats are the primary risk facing organizations at this point in history. The Foreign Corrupt Practices Act requirements are consistent with the actions of an ethical organization. ORPA is an emerging technology consistent with artificial intelligence. O Risks come in many forms.
image text in transcribed
image text in transcribed
Select the statement that is least accurate: Cyber-threats are the primary risk facing organizations at this point in history. The Foreign Corrupt Practices Act requirements are consistent with the actions of an ethical organization. RPA is an emerging technology consistent with artificial intelligence. Risks come in many forms. Matthew, Incorporated, owns 30 percent of the outstanding stock of Lindman Company and has the ability to signficantly influence the investee's operations and decision making. On January 1,2024, the balance in the Investment in Lindman account is $372.000. Amortization assoclated with this acquisition is $11,700 per year. In 2024, Lindman earns an income of $106,500 and declares cash dividends of $35,500. Previously, in 2023, Lindman had sold inventory costing $47,600 to Matthew for $68,000. Matthew consumed all but 25 percent of this merchandise during 2023 and used the rest during 2024 . Lindman soid additional inventory costing $59,400 to Matthew for $90,000 in 2024 . Matthew did not consume 40 percent of these 2024 purchases from Lindman until 2025 Required: a. What amount of equity method income would Motthew recognize in 2024 from its ownership interest in Lindman? b. What is the equity method balance in the Investment in Lindman account at the end of 2024

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

Auditing A Risk Based-Approach

Authors: Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

11th Edition

1337619455, 1337619450, 9781337670203 , 978-1337619455

More Books

Students also viewed these Accounting questions

Question

LO 45-1 How do stereotypes, prejudice, and discrimination diff er?

Answered: 1 week ago