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grandymaker [24]
2 years ago
12

Sox Corporation purchased a 30% interest in Hack Corporation for $1,525,000 on January 1, 2021. On November 1, 2021, Hack declar

ed and paid $1.1 million in dividends. On December 31, Hack reported a net loss of $4.0 million for the year. What amount of loss should Sox report on its income statement for 2021 relative to its investment in Hack
Business
1 answer:
Serjik [45]2 years ago
3 0

Answer:

$1,200,000

Explanation:

SOX Corporation purchased a 30% interest for $1,525,000

On November 1, 2021, Hack declared and paid $1,100,000 million in dividends

Hence, Carrying value = $1,525,000 - 30%($1,100,000)

Carrying value = $1,525,000 - $330,000

Carrying value = $1,195,000

Net loss given during the year reported by Hack is $4,000,000

Hence, Net Loss of SOX is $4,000,000 * 30%

Net Loss = $1,200,000

Therefore, the net loss to be recognized in the Income statement is $1,200,000

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6 0
2 years ago
Cost pressure from international competitors pushes companies toward greater scale and efficiency. But some products must also m
SSSSS [86.1K]

Answer:

Transnational strategy

Explanation:

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8 0
3 years ago
You are a newspaper publisher. You are in the middle of a one-year rental contract for your factory that requires you to pay $50
Anettt [7]

Answer and Explanation:

The computation is shown below:

Fixed cost is

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= $0.25 + $0.10

= $0.35 per paer

Now

as we know that

AFC = FC ÷ Q

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AFC is

= 1,500,000 ÷ 1,000,000

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At 800,000 , it would be

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= $1.875/mo

MC = $0.35 per paper  and the same is not changed

Now for break even, the average total cost is

ATC = AFC + AVC

ATC = FC ÷ Q + VC ÷ Q

VC = MC × Q

ATC = FC ÷ Q + MC

ATC = FC ÷ Q + 0.35

At Q = 1,000,000,

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At Q = 800,000 , it would be

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As it can be seen that

The AFC changes from 1.50 to 1.875 which shows an increment of 0.375.

The MC remains constant or same  at 0.35 as the printing and delivery costs per paper are remain same

And, The minimum amount that we must charge to break even rises i.e. from 1.85 to 2.225. That is a rise of 0.375

6 0
3 years ago
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pantera1 [17]

Answer: True

Explanation:

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4 0
3 years ago
Is heronation valid will i make money from them
mars1129 [50]
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