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
never [62]
3 years ago
11

Pie Corporation paid $319,500 to acquire 90 percent ownership of Slice Company on April 1, 20X2. At that date, the fair value of

the noncontrolling interest was $35,500. On January 1, 20X2, Slice reported these stockholders’ equity balances:

Business
1 answer:
Brums [2.3K]3 years ago
5 0

Answer and Explanation:

As per situation the Journal entries with narrations is here below:-

As per requirement of a

1. Slice Co. investment Dr, $319,500  

        To Cash $319,500

(Being cash paid is recorded)

2. Slice Co. investment Dr, $27,000  

      To  Income from Slice Co. $27,000

(Being investment is recorded)

3 Cash Dr, $13,500  

       To Slice Co. investment $13,500

(Being cash is recorded)

As per requirement b

1. Sales Dr, $90,000  

    To Total Expenses $80,000

     To Dividends Declared $5,000

      To Retained Earnings $5,000

(Being sales is recorded)

2. Common stock Dr, $160,000  

Additional paid-in capital Dr, $40,000  

Retained earnings Dr, $155,000  

Income from Slice Co. Dr, $27,000  

NCI in NI of Slice Co. Dr, $3,000  

       To Dividends declared $15,000  

            ($1,500 + $13,500)

        To Investment in Slice Co. $333,000  

             ($319,500 + $27,000 - $135,00)

         To NCI in NA of Slice Co. $37,000

(Being acquisition is recorded)

You might be interested in
Which of the following government offices help individuals fund their college education?
Doss [256]
D. office of student federal aid
7 0
3 years ago
___ refers to factors that prevent new firms from successfully competing in the industry
antiseptic1488 [7]

Answer:

barriers to entry

Explanation:

3 0
2 years ago
If labor market institutions change so that it becomes easier to find a job, and unemployed people are unemployed for smaller du
Natasha_Volkova [10]
<span>The natural rate of employment would decline, because people would have better chances at finding a way of employment. This would help cut costs in government aid and help people feel more self-sufficient and secure in taking care of their families.</span>
7 0
3 years ago
In one nation, life expectancy is in the high 50s. Few citizens have access to modern technology, and the average yearly income
NARA [144]

Answer:

Developing

Explanation:

A developing country is one where,

  • Per capita income is lower which means individuals earn money for basic survival. There are no means of investment and savings.
  • Life expectancy is higher due to absence of modern medical facilities in all areas.
  • Technology is still reaching people in rural areas. Not everybody has access to modern technology.
  • High rates of population and unemployment.

Here, the country has all features of a developing world nation.

8 0
3 years ago
Wims, Inc., has current assets of $5,000, net fixed assets of $23,300, current liabilities of $4,450, and long-term debt of $11,
Novay_Z [31]

Answer:

a). $12,850  b.) 550

Explanation:

a). Shareholder equity

The shareholder equity consists of the shareholder capital contributions plus the retained earnings. calculating the shareholder's equity is through the formula shareholder equity = total assets -total liabilities

In this case,

Total assets = $5,000,+ $23,300= $28,300

Total liabilities = $4,450 + $11,000 + $15,450

Shareholder equity = $28,300 -$15,450 = $12,850

b). Net working capital

Net working capital is the difference between current assets and current liabilities. i.e., net working capital is current assets - current liabilities

current asset = $5000

Current liabilities = $ 4,450

Net working capital; = $5,000 - $4,450= $550

5 0
3 years ago
Other questions:
  • Employees who find intrinsic value in their work are doing what is ____________.
    5·1 answer
  • Which option best describes the main behavior that economics studies?
    9·1 answer
  • Label demand as elastic, unit elastic, or inelastic for each scenario. Use the midpoint method when applicable to calculate the
    8·1 answer
  • Who is the Minister of Education​
    8·1 answer
  • The market price of an $1,000,000, ten-year, 12% (pays interest semiannually) bond issue sold to yield an effective rate of 10%
    8·1 answer
  • What are the approaches for learning Economics effectively?
    10·1 answer
  • The correct decision of decision variable are
    6·1 answer
  • Marking brainliest! What is an example of a public corporation?
    13·2 answers
  • What are the main advantages of the d-step tuning of 2023 murano’s xtronic cvt?.
    5·1 answer
  • According to pmi’s agile’s practice guide, which roles are considered appropriate agile roles?
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!