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Dafna11 [192]
2 years ago
9

Oriole Company purchased 300 of the 1000 outstanding shares of Skysong Company's common stock for $660000 on January 2, 2021. Du

ring 2021, Skysong Company declared dividends of $140000 and reported earnings for the year of $270000. If Oriole Company uses the equity method of accounting for its investment in Skysong Company, its Equity Investments (Skysong) account at December 31, 2021 should be __________.
Business
1 answer:
pentagon [3]2 years ago
4 0

Answer:

$699,000

Explanation:

The journal entries should be:

January 2, 2021, 30% of Skysong's stock is purchased:

Dr Investment in Skysong Company 660,000

    Cr Cash 660,000

X, 2021, dividends are distributed:

Dr Cash 42,000

    Cr Investment in Skysong Company 42,000

Y, 2021, net earnings are reported:

Dr Investment in Skysong Company 81,000

    Cr Investment revenue 81,000

December 31 balance of investment in Skysong Company account = $660,000 - $42,000 + $81,000 = $699,000

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Type the correct answer in each box. Spell all words correctly.
Yakvenalex [24]

A successful Information System implementation adds to an organization’s efficiency and <u>capability</u>. A successful implementation also makes the organization more <u>productive</u>.

<u>Explanation:</u>

An information system is a linked series of hardware and software designed to collect, store and process data. It is a better tool that is used to support operations, process, intelligence and IT in the organization. It helps in uplifting the function, performance and productivity of the organization.

Structured database and knowledge base created by the disciplined information reporting system helps better understanding and development. The reliable and relevant information provided pull the entire organization towards one direction to achieve the corporate goals and objectives.

6 0
2 years ago
Rick Palmer received a $2,500 raise this year. This increased his salary as an associate TV producer from $47,500 to $50,000. Wh
tigry1 [53]

Answer:

Nominal increase in salary will be 5.3%

So option (b) will be correct answer

Explanation:

We have given initially the salary of Rick Palmer is $47500

And then it is increased to $50000

So nominal increase in salary = $50000 - $47500 = $2500

We have to find the percentage nominal increase in salary

So percentage nominal increase =\frac{nominal\ incriment }{initial\ salary}=\frac{2500}{47000}=0.0531 = 5.3 %

So option (B) will be correct answer

8 0
2 years ago
Compare the elasticity of a monopolistic competitor’s demand with that of a pure competitor and a pure monopolist.
abruzzese [7]

A pure monopolist's demand is less elastic than a monopolist's competitors which is less elastic than a pure competitor.

In monopolistic competition, there is a great deal of nonprice competition, inclusive of advertising, trademarks, and emblem names. In natural competition, there is no nonprice opposition. In a pure monopoly, there is the simplest company. Its product is unique and there aren't any close substitutes.

As there are substitutes, the demand curve facing a monopolistically competitive firm is more elastic than that of a monopoly where there aren't any close substitutes. If a monopolist increases its fee, some purchasers will select no longer purchase its product—however, they will then need to shop for a completely extraordinary product.

The firm's demand curve is fantastically elastic, however no longer perfectly elastic. It's miles greater elastic than the monopoly's demand curve because the vendor has many opponents producing near substitutes; it's far less elastic than the natural competition because the seller's product is differentiated from its rivals.

Learn more about the monopolistic competition here brainly.com/question/25717627

#SPJ4

8 0
1 year ago
Suppose your uncle offers you $100 today or $150 in 10 years. you would prefer to take the $100 today if the interest rate is
kap26 [50]
Did you complete the question
5 0
3 years ago
Your checkbook register shows these activities for the month.Old balance: $134.56Check 512 to Good Stuff for $32.19Deposit: $345
Dvinal [7]

Based on the various activities for the month that were reflected in your checkbook, your new balance would be $135.84.

<h3>What is the checkbook balance?</h3>

This can be found as:
= Opening balance + Deposits - Checks and withdrawals

Solving gives:

= 134.56 + 345.12 - 32.19 - 250 - 16.65 - 45

= $135.84

In conclusion, your new balance is $135.84.

Find out more on checkbook balances at brainly.com/question/3719189

#SPJ1

3 0
1 year ago
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