If a student records his or her verbal participation everytime it occurs during a class period, the student is using ___ recordi
1 answer:
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Answer: Hello your question is incomplete attached below is the complete question
answer:
1) attached below
2) Net operating income ( loss ) = - $104 million
Explanation:
Pretax operating loss = - $137 million
Non deductible Losses ; $5 million fine paid in 2021 ,
estimated $12 million loss from contingency that will be tax deductible in 2022
Enacted tax rate = 25%
Taxable operating income = - $120 million
attached below is the solution
Answer and Explanation:
As per situation the Journal entries with narrations is here below:-
As per requirement of a
1. Slice Co. investment Dr, $319,500
To Cash $319,500
(Being cash paid is recorded)
2. Slice Co. investment Dr, $27,000
To Income from Slice Co. $27,000
(Being investment is recorded)
3 Cash Dr, $13,500
To Slice Co. investment $13,500
(Being cash is recorded)
As per requirement b
1. Sales Dr, $90,000
To Total Expenses $80,000
To Dividends Declared $5,000
To Retained Earnings $5,000
(Being sales is recorded)
2. Common stock Dr, $160,000
Additional paid-in capital Dr, $40,000
Retained earnings Dr, $155,000
Income from Slice Co. Dr, $27,000
NCI in NI of Slice Co. Dr, $3,000
To Dividends declared $15,000
($1,500 + $13,500)
To Investment in Slice Co. $333,000
($319,500 + $27,000 - $135,00)
To NCI in NA of Slice Co. $37,000
(Being acquisition is recorded)
