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Umnica [9.8K]
3 years ago
7

On January 2, Cohan Company acquired 37% of the outstanding stock of Sanger Company for $715,500. For the year ended December 31

, Sanger Company earned income of $108,700 and paid dividends of $26,400.
Prepare the entries for Cohan Company for the purchase of the stock, the share of Sanger income, and the dividends received from Sanger Company. Refer to the Chart of Accounts for the exact wording of account titles.
Business
1 answer:
anzhelika [568]3 years ago
5 0

Answer:

Explanation:

check the file attached for solution i hope it helps

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The government is trying to maintain the infrastructure of the country, provide Social Security benefits to citizens, and regula
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The government will be able to improve the road system, encouraging more people to drive on vacations. Social Security benefits will provide income for the elderly and disabled, allowing them to spend money, thus boosting the economy. Airline security might be slightly improved because of the ability to hire, but there will not be enough money to provide the latest equipment.

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2 years ago
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January 1, 2021, Woody Forrest Corporation granted executive stock options to purchase 30,000 of its common shares at $7 each. T
Anton [14]

Answer:

169,000

Explanation:

Calculation to determine what The number of shares to be used in computing diluted earnings per share for the quarter is:

First step is to calculate the amount assumed to be exercised

Exercised amount= 30,000*$7 / $15avg

Exercised amount= 14,000

Second step is to calculate the Net

Net=30,000-14,000

Net= 16,000

Now let calculate The number of shares to be used in computing diluted earnings per share

Using this formula

Number of shares=Outstanding+Net

Let plug in the formula

Number of shares=153,000 +16,000

Number of shares= 169,000

*diluted eps=$28,000 /169,000

Therefore The number of shares to be used in computing diluted earnings per share for the quarter is: 169,000

8 0
2 years ago
(a) Where the parent company does not hold 100 percent equity of the subsidiary company, what portion of the intra-group transac
emmainna [20.7K]

Answer:

Follows are the solution to this question:

Explanation:

In point a:

If the parent firm doesn't hold the conglomerate's equity stake, depreciation expense acknowledged by the parent company's owner and expenditures shall be removed throughout the consolidated statement of financial position. Its combined cash flow deletes debts previously recognized as assets for both the parent corporation and as debts for all the subsidiaries to offer a real and equal view. All the intragroup balance should be removed to avoid double-counting of financial assets resulting from payments in between the group's members.

In point b:

If a parent company has a stake in a subsidiary that is called noncontrolling interest over 50%, but less than 99 percent. Its parent company shall report a different non-controlling interest line on the income statement and revenue report to reveal its noncontrolling interest.

In point c:

Its Group of non - management Concerns may not claim responsibility mostly on a share of a benefit, doesn't have any influence from over parent's decision. Intra-group payments in a word-level shall be removed.

In point d:

Its NCI share of the opening in net assets of the subsidiary + NCI share of even an amortization fair value + NCI profits due to NCI - (dividend payable to the noncontrolling shareholder) = unlawful interest at the date of the merger is three steps for the calculation of total the uncontrol value.

7 0
2 years ago
You, being a supplier of steak dinners, opened your steak house. Assume the market-clearing price is $20 and the market clearing
Shalnov [3]

Answer:

A) Shortage, B) Fall in Price

Explanation:

A] Market is at equilibrium where - downward sloping Market Demand (inversely related to price), & upward sloping Market Supply (directly related to price) - are equal &  these curves intersect each other.

Above condition gives us equilibrium price & quantity.

If market price < equilibrium price, as given case 15 < 20. Then, supply being directly related to price is lesser, demand being inversely related to price is higher. So, there is a situation of excess demand, ie <u>shortage </u>(graphically denoted by distance between demand & supply curve at actual price below equilibrium price)

B] Dealers of hybrid vehicles increase imply increase in supply of these vehicles, rightwards shift in the supply curve. This creates excess supply ie surplus of them. It implies that competition among sellers lead to <u>fall in price </u>of these hybrid vehicles.

7 0
2 years ago
Cadillac is preparing to build a new assembly plant in the United States. Although it would be slightly cheaper to build cars in
il63 [147K]

Answer:

A

Explanation:

Cadillac is responding to one of the geographic demographic trends in the United States, which has been migration into the Sun Belt. Building a plant in Louisiana, which is in the Sun Belt, would greatly reduce transportation cost, compared to a plant in Michigan.

4 0
2 years ago
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