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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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Mrrafil [7]

Answer: 1/1.8

Explanation:

From the question, we are informed that 1 British pound can be exchanged for 180 cents of U.S. currency. To get the fraction that should be used to compute the indirect quotation of the exchange rate expressed in British pounds, we have to change the 180 cents to dollars first.

Since 100 cents = 1 dollar, 180 cents = 1.8 dollars. Therefore, fraction should be used to compute the indirect quotation of the exchange rate expressed in British pounds will be:

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2 years ago
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3 years ago
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Murljashka [212]

Answer:

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Explanation:

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slava [35]

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Ethical

Explanation:

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3 years ago
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Alisiya [41]

Answer:

The correct answer is D.

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