1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
umka21 [38]
2 years ago
12

Milani, inc., acquired 10 percent of seida corporation on january 1, 2017, for $190,000 and appropriately accounted for the inve

stment using the fair-value method. on january 1, 2018, milani purchased an additional 30 percent of seida for $600,000 which resulted in significant influence over seida. on that date, the fair value of seida's common stock was $2,000,000 in total. seida's january 1, 2018 book value equaled $1,850,000, although land was undervalued by $120,000. any additional excess fair value over seida's book value was attributable to a trademark with an 8-year remaining life. during 2018, seida reported income of $300,000 and declared and paid dividends of $110,000. prepare the 2018 journal entries for milani related to its investment in seida. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field.)
Business
1 answer:
Natalija [7]2 years ago
6 0

The 2018 journal entries for Milani<span> related to its investment in </span>Seida<span> are its share in net income and share in dividends. The investment in considered as investment in associate since there is already the significant influence in </span>Seida. These are the journal entries: 

 

<span>Investment in </span>Seida                                                             12,0000 

<span>       Share in net income of </span>Seida<span> ($30,000 x 40%)                            12,000</span> 

               #

Cash ($110,000 x 40%)                    44,000 

<span>        Investment in </span>Seida                                   44,000<span> </span>

<span>               #</span>

You might be interested in
Emily has recently learned that she needs to reduce the duration of her project to meet an imposed deadline. She has calculated
kotykmax [81]

Answer:

identify the critical path

Explanation:

Based on the information provided, the logical next step for Emily would be to identify the critical path. This means identifying the sequence of project network activities that add up to the longest overall duration which in term will reveal the shortest time possible to complete this project through unnecessary parts within the critical path, and will allow her to meet the imposed deadline.

7 0
3 years ago
Se the following account balances from the adjusted trial balance of Gees Catering:
S_A_V [24]

Answer:

The amount that Gees Consulting would report as the ending balance in the R. Gees, Capital account at the end of the year is $8,000

Explanation:

For computing the ending balance of capital account, first, we have to compute the net income or loss which is shown below:

Net income/loss = Fees revenue - salary expense - rent expense - supplies expense

= $10,000 - $7,000 - $6,000 - $6,000

= ($19,000)

Now the ending balance would be

= Opening capital - net loss -  drawings

= $18,000 - $9,000 - $1,000

= $8,000

8 0
2 years ago
Before adding a global information system (GIS), international companies must take into consideration the _____ infrastructures
devlian [24]

Answer:

c. telecommunication

Explanation:

A global information system (GIS) is a system that is used to storage all the data from the headquarters of a company and all its subsidiaries in one place. This system works in all the places where the company is and the telecommunication infrastructure of the countries where the subsidiaries are located must be taken into consideration because it needs different technologies and applications and if they are not available or if they don't work properly, the system won't be able to store, retrieve and transmit information and it won't allow a good communication between the offices.

4 0
3 years ago
Which of the following is true for the federal government budget each year?​
olasank [31]

The federal government budget each year is considered to run from October 1 of one calendar year through September 30 of the next.

The federal government budget in the United States each covers three major spending categories.

These spending categories include the following:

  • The federal agency funding: this is often referred to as "discretionary spending."

  • Interest on the debt: a maximum of 10% of the total funding.

  • Funding for Social Security: this is often referred to as Mandatory spending. It covers activities like Medicare, veterans benefits, etc.

Hence, in this case, it is concluded that the federal government budget each year is used to run the country's affairs.

Learn more here: brainly.com/question/18085402

8 0
2 years ago
An eligible employee may take unpaid leave under the Family and Medical Leave Act for family or medical reasons, or in certain s
Aliun [14]

An eligible employee may take unpaid leave under the Family and Medical Leave Act for family or medical reasons, or in certain situations for military service: TRUE

<h3>What is unpaid leave?</h3>
  • Unpaid leave is time away from work during which an employee keeps their job but is not paid.
  • Employees in the United States are permitted to take unpaid absences for the following reasons: self-care involves a significant health condition.
  • There's a family emergency.
  • Parental leave for childbirth or adoption.
<h3>Purpose of  Family and Medical Leave Act:</h3>
  • Under the Family and Medical Leave Act, an eligible employee may take unpaid leave for family or medical reasons, or under certain circumstances, for military service.

Therefore, the statement "an eligible employee may take unpaid leave under the Family and Medical Leave Act for family or medical reasons, or in certain situations for military service" is true.

Know more about the Family and Medical Leave Act here:

brainly.com/question/4014104

#SPJ4

4 0
1 year ago
Other questions:
  • Profit Margin, Investment Turnover, and ROI Briggs Company has operating income of $56,496, invested assets of $214,000, and sal
    10·1 answer
  • When might be the best time to start saving for retirement?
    12·2 answers
  • The current price of a stock is $50, the annual risk-free rate is 6%, and a 1-year call option with a strike price of $55 sells
    15·1 answer
  • Look up the following words. Give the etymology of each. State what kind of term, such as mathematical, scientific, political sc
    6·1 answer
  • How do your clothing preferences differ from those of your
    14·1 answer
  • Sanderson Sofas, a family-owned corporation, issued 6.75% bonds with a face amount of $12 million, together with 2 million share
    6·1 answer
  • which statement was true in the past but is not generally true today? A. the training and education costs for some jobs will pro
    10·1 answer
  • An economic system that allows indivduals to pursue their own interests without undue
    7·1 answer
  • Sushi corp. purchased and installed electronic payment equipment at its drive-in restaurants in san marcos, tx, at a cost of $51
    15·1 answer
  • What is supply and demand?
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!