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notka56 [123]
3 years ago
14

Green Corp. owns 30% of the outstanding common stock and 100% of the outstanding noncumulative nonvoting preferred stock of Axel

Corp. Green's 30% ownership of common stock gives it significant influence over Axel.
In 2004, Axel declared dividends of $100,000 on its common stock and $60,000 on its preferred stock. Green exercises significant influence over Axel's operations.
What amount of dividend revenue should Green report in its Income Statement for the year ended December 31, 2004?
Business
1 answer:
satela [25.4K]3 years ago
5 0

Answer:

$60,000

Explanation:

Green must only report the $60,000 received as preferred stock dividends since it owns 100% of the preferred stocks.

Since Green exercises significant influence over Axel, it will use the equity method. The equity method records common stock dividends as return of capital, not income. All the dividends received ($100,000 x 30% = $30,000) should reduce the investment account on Green's balance sheet.

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Answer:contact the FDIC/NCUA

Explanation:The FDIC/NCUA would not be able to provide any account information. FDIC is Federal Deposit Insurance Corporation and it’s an independent agency. NCUA is National Credit Union Administration is also a independent agency. FDIC are for banks and NCUA is for credit unions. They both regulate and insure deposits.

4 0
2 years ago
The average of first 10 even number is​
leva [86]

Answer:

11

Explanation:

7 0
2 years ago
Read 2 more answers
A company's board of directors votes to declare a cash dividend of $.80 per share of common stock. The company has 16,000 shares
den301095 [7]

Answer:

$8,400

Explanation:

The computation of the total amount of the cash dividend is shown below:

= Outstanding number of shares × cash dividend per share

= 10,500 outstanding shares × $0.80

= $8,400

The cash dividend is computed only on outstanding shares i.e issues shares minus treasury shares

So, it will not be computed on authorized shares either on issued shares

5 0
3 years ago
8 Hospital administrator Jake Rosen9 was recently con victed for fraud he committed against his employer, Cedar Hospital Systems
Alenkinab [10]

Answer:

Asset Misappropriation.

Explanation:

The type of fraud that Jake Rosen engaged in is called Asset Misappropriation.

Asset Misappropriation happens when a person diverts the assets of the company they work for or the client they represent, for their own personal use.

Jake Rosen diverted the funds of the hospital for his own personal use to enabled the purchase of two homes and a nice yacht amongst other things thereby making him guilty of asset misappropriation.

5 0
2 years ago
A product sells for $30 per unit and has variable costs of $15.50 per unit. The fixed costs are $1,015,000. If the variable cost
Maslowich

Answer:

70,000 units

Explanation:

Selling price per unit = $30

Variable cost per unit = $14.60

Contribution margin per unit = $30 - $14.60 = $15.40

Fixed cost = $1,078,000

Break-even point in units = Fixed cost ÷ Contribution margin per unit = $1,078,000 ÷ $15.40 = 70,000 units

Therefore,  break-even point in units would 70,000 units.

3 0
3 years ago
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