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tatiyna
3 years ago
7

93) Jack Corporation purchased a 20% interest in Jill Corporation for $1,500,000 on January 1, 2021. Jack can significantly infl

uence Jill. On December 10, 2021, Jill declared and paid $1 million in dividends. Jill reported a net loss of $6 million for the year. What amount of loss should Jack report in its income statement for 2021 relative to its investment in Jill?
Business
1 answer:
Yanka [14]3 years ago
8 0

Answer:

$1,200,000

Explanation:

Jack Corporation

Carrying value before net loss:

($1,500,000 - (20% x $1,000,000))

=$1,500,000-$200,000

= $1,300,000

Jack's share of net loss recognized in full:

20% x $6,000,000

= $1,200,000

Therefore the amount of loss should Jack report in its income statement for 2021 relative to its investment in Jill will be $1,200,000

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The entry to establish a petty cash fund includes:___________
guapka [62]

Answer:

c) a debit to Petty Cash and a credit to Cash.

Explanation:

According to the golden rule of double of entry that a giver should be credited while a receiver is debited, the cash account is the giver in this case would be credited while the receiver,the petty cash account would be debited on the other hand.

The correct option which corroborates my explain above is option C.

Option A is wrong because the reverse was the case.

7 0
3 years ago
Once hired, a candidate will enter a 12- to 18-month period during which supervisors and mentors observe their performance to se
muminat

Probationary period

Explanation:

A probation is a period to see if a new hire (or new promoted worker) is suitable for their job or not. The person also can see if they like the new career or not. Depending on the company, the probation normally takes between 3 and 6 months.

The probationary period of the worker may be increased under some conditions. Extensions may be caused by a shift of duty or oversight leave took during the probationary period, etc.

Employment at will implies that an individual can be remitted without notice for any cause, unless the reason has been unlawful. Probationary periods for workers may be disadvantageous.

4 0
3 years ago
(tco 5) the head of ministry is equivalent to the _____ in the united states.
sergiy2304 [10]

The correct answer is department secretary.

The head of ministry is equivalent to the departmental secretary in the United States.

6 0
3 years ago
Read 2 more answers
Review the information in the chart with reasons for and against adding juice boxes to the high school lunch menu.A 2-column tab
Andreas93 [3]

Answer:

D. Juice boxes contain too much sugar to be considered a nutritious fruit choice

Explanation:

bc it’s the only option against juice boxes

6 0
3 years ago
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Suppose that, at a given level of disposable income, consumers decide to save more. Explain what effect this decision will have
-Dominant- [34]

Answer: decrease ; less saving

Explanation:As people attempt to save more, the result is both a decline in output and unchanged saving. Although people want to save more at a given level of income, their income decreases by an amount such that their saving is unchanged. As people save more at their initial level of income, they decrease their consumption. But this decreased consumption decreases demand, which decreases production. A change in autonomous spending has a different effect on output than the actual change in autonomous spending.

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