Question
Sheridan Inc. earns $470000 and pays cash dividends of $100000 during 2020. Carla Vista Corporation owns 62700 of the 209000 outstanding shares of Sheridan Inc.
Sheridan Inc. earns $470000 and pays cash dividends of $100000 during 2020. Carla Vista Corporation owns 62700 of the 209000 outstanding shares of Sheridan Inc. How much revenue from investment should Carla Vista report in 2020?
Sunland Inc. earns $550000 and pays cash dividends of $145000 during 2020. Wildhorse Corporation owns 73850 of the 211000 outstanding shares of Sunland. What amount should Wildhorse show in the investment account at December 31, 2020 if the beginning of the year balance in the account was $40000?
On January 2, Matthews Corporation acquired 20% of the outstanding common stock of Dennehy Company for $450,000. For the year ended December 31, Dennehy reported net income of $90,000 and paid cash dividends of $30,000 on its common stock. On December 31, the carrying value of Matthews investment in Dennehy under the equity method is
At December 31, 2020, the trading securities for Eddy Company are as follows:
Security Cost Fair Value A $16,000 $20,000 B 34,000 32,000 $50,000 $52,000
Prepare the adjusting entry at December 31, 2020, to report the securities at fair value. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
CoronadoCorp. has common stock of $4600000, retained earnings of $1600000, unrealized gains on trading securities of $120000 and unrealized losses on available-for-sale securities of $180000. What is the total amount of its stockholders equity?
On January 1, 2020, Sheffield Corp. paid $940000 for 117500 shares of Ivanhoe Companys common stock, which represents 26% of Ivanhoe's outstanding common stock. Ivanhoe reported net income of $224000 and paid cash dividends of $63000 during 2020. Sheffield should report the investment in Ivanhoe Company on its December 31, 2020, balance sheet at:
Which of the following is the correct matching concerning the appropriate accounting for long-term stock investments?
% of Investor Ownership Accounting Guidelines
Coronado Corporation purchased 960 shares of Wildhorse common stock ($50 par) at $82 per share as a short-term investment. The shares were subsequently sold at $78 per share. The cost of the securities purchased and gain or loss on the sale were
Cost Gain or Loss
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