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
nexus9112 [7]
3 years ago
15

Suppose that on January 6, 2018, Excel Motors paid $240,000,000 for its 45% investment in Dynamic Motors. Excel has significant

influence over Dynamic after the purchase. Assume Dynamic earned net income of $10,000,000 and paid cash dividends of $15,000,000 to all outstanding stockholders during 2018. (Assume all outstanding stock is voting stock.) Read the requirements Requirement 1. What method should Excel Motors use to account for the investment in Dynamic Motors? Give your reasoning. Excel Motors should use the ▼ method to account for its investment in Dynamic Motors because the investment Requirement 2. Journalize all required 2018 transactions related to Excel Motors's Dynamic investment.

Business
1 answer:
goldenfox [79]3 years ago
3 0

Answer:

Requirement 1 :

Excel Motors should use the Equity method to account for its investment in Dynamic Motors, because the investment results in significant influence over the invested company.

Requirement 2 :

In the books of Excel Motors:

[ Kindly find the attachment ]

You might be interested in
Emily, while driving a car manufactured by Toyosan, suffered a side impact collision from another driver. Despite the fact that
solong [7]

Answer:

Toyosan's air bag was defective because it did not meet the expectations of a reasonable consumer.

Explanation:

Since the airbag was not as effective as it was expected by the customers, a suit against the car manufacturers from product liability may see the court conclude that the air bag was defective since it did not meet the expectations of a reasonable consumer which would have been protecting her head from hitting the steering wheel which still occured even tho the air bag was deployed.

7 0
3 years ago
Read 2 more answers
When countries specialize in the production of goods they have the comparative advantage in, both ___________ and ______________
Anna71 [15]

Based on the question above, <u>demand and supply</u> will increase.

<h3>Demand</h3>
  • demand is the quantity of a good that consumers are willing and able to buy at various prices during a given period of time.

<h3>Supply</h3>
  • supply is the amount of a resource that firms, manufacturers, labourers, providers of financial assets, or other economic agents are willing and able to provide to the marketplace or to an individual.

Therefore, the correct answers are demand and supply.

Learn more here:https://brainly.in/question/19402695

7 0
2 years ago
Checking account A charges a monthly service fee of $20 and a wire transfer fee of $3, while checking account B charges a monthl
natali 33 [55]
 the answer should be  
D. 10 
3 0
3 years ago
Read 2 more answers
Betsy Strand’s regular hourly wage rate is $24, and she receives an hourly rate of $36 for work in excess of 40 hours. During a
melamori03 [73]
<h3>Betsy’s gross earnings for January period is $1,140 </h3><h3>Betsy’s net pay for January period is $966.79 </h3>

Explanation:

  • Betsy Strand’s regular hourly wage rate = $24
  • Betsy Strand’s hourly rate for work in excess of 40 hours = $36
  • Betsy works during a January pay period = 45 hours.
  • Betsy's pay for January period = $24 * 40 + $36 * 5
  • Betsy's pay for January period = $1,140

Betsy’s gross earnings for January period is $1,140

  • Betsy’s federal income tax withholding = $86
  • FICA tax rate  = 7.65%.
  • Betsy’s FICA Taxes Payable = $1,140  * (7.65 / 100)
  • Betsy’s FICA Taxes Payable = $87.21
  • Betsy’s net pay for January period = Gross earnings - Federal income tax withholding - FICA Taxes
  • Betsy’s net pay for January period = $1,140 - $86 - $87.21
  • Betsy’s net pay for January period = $966.79

Betsy’s net pay for January period is $966.79

6 0
3 years ago
At the beginning of the year, Monroe Company estimates annual overhead costs to be $2,400,000 and that 300,000 machine hours wil
Andrei [34K]

Answer:

The amount of overhead applied during the year is $2,400,000

Explanation:

In determining overheads amounts to be included in product costing, a company uses Budgeted overheads.

Budgeted overheads are used rather than actual overheads because of the delays that are made to obtain Actual data for Actual overhead amounts which will delay product costing.

Therefore Using machine hours as a base, the amount of overhead applied during the year is $2,400,000

8 0
3 years ago
Other questions:
  • Hank earns per hour with timeandahalf for hours in excess of per week. He worked hours at his job during the first week of March
    12·1 answer
  • You just heard that a​ well-known manufacturer in a different industry segment is going to enter your market with a product that
    5·1 answer
  • What is the initial investment outlay for the spectrometer, that is, what is the Year 0 project cash flow
    6·1 answer
  • A questionnaire on the negative impact of the coronavirus as one of the socio economic issues of the business
    12·1 answer
  • Amy and Hobbes are married and file a joint return. Their three children are 7, 9, and 18 years old. Their modified AGI is $58,0
    12·1 answer
  • When the dollar falls compared to other currencies, which group benefits the most?
    13·2 answers
  • 1. Describe three different types of cash receipts that a business may record. Also identify the
    10·1 answer
  • The CEO of TruTone Manufacturing tells her executive management team that the company must become more agile to stay competitive
    5·1 answer
  • Conroy Company uses the allowance method to account for bad debts. During the year, Conroy determined that a balance of $200 fro
    7·1 answer
  • You are the pm for a new development project. you are creating a prioritized list of project risks. which tool would you use?
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!