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Vika [28.1K]
4 years ago
13

Crane, Inc. acquired 30% of Novak Corporation's voting stock on January 1, 2021 for $1110000. During 2021, Novak earned $433000

and paid dividends of $272000. Crane's 30% interest in Novak gives Crane the ability to exercise significant influence over Novak's operating and financial policies. During 2022, Novak earned $533000 and paid cash dividends of $172000 on April 1 and $172000 on October 1. On July 1, 2022, Crane sold half of its stock in Novak for $693000 cash. Before income taxes, what amount should Oriole include in its 2021 income statement as a result of the investment?
Business
2 answers:
Pani-rosa [81]4 years ago
4 0

Answer:

Amount to be included is Dividend income = $81,600

Explanation:

Dividend income = $272,000 * 30% =81,600

The only Investment amount to be include in the income statement is the dividend received (returns)  

Elena L [17]4 years ago
3 0

Answer:

Crane gain on Novak investment for 2021: $ 159,900

Explanation:

As Crane has significant influence it will use the equity-method to evaluate their investment in Novak rather than just recognize dividends as gains.

Novak earned 533,000 for the year ended December 31h, 2021 Hence Crane recognize 30% of this as gains:

$ 533,000 x 30% = $ 159,900

The dividend wil be consider a transfer of cash between the same entity as Crane trasnfer 30% of the cash of Novak into their

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Brett, the manager at Warson’s Diner, plans to promote Keisha, one of the waitresses, to the position of an assistant manager. H
Sholpan [36]

Answer:

a)Brett has a cause of action against Warson's Diner for retaliatory discharge under Title VII of the Civil Rights Act of 1964.

Explanation:

From the question, we are informed about Brett, the manager at Warson’s Diner, who plans to promote Keisha, one of the waitresses, to the position of an assistant manager. We are also told that the owner, being racially biased, prevents him from doing so and in the end , Brett gets fired

What holds true in this scenario described above is that Brett has a cause of action against Warson's Diner for retaliatory discharge under Title VII of the Civil Rights Act of 1964.

Title VII of the Civil Rights Act of 1964. Is a law, of Act of 1964 that oversee any form of discrimination against employee of an organization and shield them from been discriminated because of race they belong to, their sex , their National origin an so on . The law doesn't only forbid discrimination that is intentional, but all actions that speak discrimination wether intentional or not.

7 0
3 years ago
Connections between cargo vessels or trucks and transportation networks may eventually lead to the development of smart transpor
Sladkaya [172]

Answer:

B. The internet of things

Explanation:

The internet of things will someday make the scenario presented in the question become a possibility.

The internet of things is a system of interrelated computing devices, mechanical and digital device composed of unique identifiers that enables the transfer of data over a network without requiring human to human interaction or even human to computer interaction. Thus, like in this case, connections between cargo vessels and transport network without the human factor will be a possibility because of internet of things.

What the internet of things does is that it allows closed private internet connections to communicate with others while bringing those networks together. It refers to the billions of devices around the world that are connected to the internet.

8 0
4 years ago
Caitlin, Chris, and Molly are partners and share income and losses in a 3:4:3 ratio. The partnership’s capital balances are Cait
natka813 [3]

Answer:

Pauls' share in partnership=(131000+91000+111000+171000)*0.15%= $75600

Balance in Caitlin’s capital account immediately after Paul’s admission = 131000-(75600-71000)*30%= $129160

6 0
3 years ago
If you put $100 into a bank account that earns five percent interest per year, what is the formula you should use to determine t
Ainat [17]

Answer:

Future value equals the present value multiplied by one plus the rate of interest in decimals.

Explanation:

Future value = present value x (1 + interest rate)

Interest rate = present value x interest rate

3 0
3 years ago
Stanford owns and operates two dry cleaning businesses. He travels to Boston to aquire a restaurant. Later in the month, he trav
Olegator [25]

Answer:

$4,522

Explanation:

As the restaurant is not acquired so the amount of $28,000 would be non-deductible

Also if the expenses is incurred so the maximum deduction allowed is in excess of $50,000 is $5,000

Now

= $51,000 - $50,000

= $1,000 reduction

And,  

= $5,000 - $1,000

= $4,000 deduction

Now

= $51,000 - $4,000

= $47,000

Now

= $47,000 ÷ 180 months

= $261 × 2 months

= 522

Now total deduction is

= $4,000 + $522

= $4,522

4 0
3 years ago
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