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KatRina [158]
3 years ago
5

The summarized balance sheets of Wildhorse Company and Blossom Company as of December 31, 2021 are as follows: Wildhorse Company

Balance Sheet December 31, 2021 Assets $2850000 Liabilities $390000 Capital stock 1400000 Retained earnings 1060000 Total equities $2850000 Blossom Company Balance Sheet December 31, 2021 Assets $2160000 Liabilities $500000 Capital stock 1330000 Retained earnings 330000 Total equities $2160000 If Wildhorse Company acquired a 20% interest in Blossom Company on December 31, 2021 for $520000 and the equity method of accounting for the investment were used, the amount of the debit to Equity Investments (Blossom) would have been $432000. $266000. $520000. $332000.
Business
1 answer:
-Dominant- [34]3 years ago
4 0

Answer:

$520,000

Explanation:

Under the fair value method of accounting, the investment is recorded at cost paid to acquire such investment. So, the Debit to Equity Investments (Blossom) would have been $520,000

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Gardner Corporation manufactures skateboards and is in the process of preparing next year's budget. The pro forma income stateme
Serhud [2]

Answer:

$636,364

Explanation:

Calculation to determine what The break-even point for Gardner Corporation for the current year is

First step is to calculate the Variable costs

Variable costs = $250,000 + $150,000 + $75,000 + $200,000

Variable costs = $675,000

Second step is to calculate the Contribution margin ratio

Contribution margin ratio = (Sales - Variable costs) / Sales

Contribution margin ratio= ($1,500,000 - $675,000) / $1,500,000

Contribution margin ratio= 0.55*100

Contribution margin ratio = 55%

Now let calculate the Break-even point

Break-even point = Fixed costs / Contribution margin ratio

Break-even point= ($100,000 + $250,000) / 0.55

Break-even point = $636,364

Therefore The break-even point (rounded to the nearest dollar) for Gardner Corporation for the current year is:$636,364

6 0
3 years ago
Which of the following perspectives is least useful for evaluating solutions?
Mariana [72]
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4 0
3 years ago
Read 2 more answers
How long after being granted bic eligibility does the broker have to complete the required 8-hour bic training?
sergey [27]

The lengthy after being granted BIC eligibility does the dealer have to complete the specified 8-hour basic training: 120 days

For you to qualify for BIC Eligible status, a dealer have to: keep an energetic license; have acquired at least two years of actual estate brokerage revel in equivalent to 40 hours according to a week inside the preceding 5 years; publish the Request for BIC Eligible reputation and/or BIC Designation form (REC 2.25); and.BIC Eligible way a broking's license reputation who has happy the broking-in-charge qualification necessities and filed software pursuant to G.S. 93A-four.2 and 21 NCAC 58A.

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8 0
2 years ago
Townsend Industries Inc. manufactures recreational vehicles. Townsend uses a job order cost system. The time tickets from Novemb
Sati [7]

Answer:

Part a.

Work In Process : Job 201 $64,200 (debit)

Work In Process : Job 202 $32,100 (debit)

Work In Process : Job 203 $25,350 (debit)

Work In Process : Job 204 $47,100 (debit)

Salaries Payable $168,750 (credit)

Part b.

Work In Process : Job 201 $94,160 (debit)

Work In Process : Job 202 $47,080 (debit)

Work In Process : Job 203 $37,180 (debit)

Work In Process : Job 204 $69,080 (debit)

Overheads $168,750 (credit)

Explanation:

Calculation of Labor Cost :

Job 201  = 4,280 hours × $15 = $64,200

Job 202 = 2,140 hours × $15  = $32,100

Job 203 = 1,690 hours × $15  = $25,350

Job 204 = 3,140 hours × $15  = $47,100

Application of overhead to jobs :

Job 201  = 4,280 hours × $22 = $94,160

Job 202 = 2,140 hours × $22  = $47,080

Job 203 = 1,690 hours × $22   = $37,180

Job 204 = 3,140 hours × $22 = $69,080

6 0
3 years ago
Tamarisk, Inc. has the following inventory data:
disa [49]

Answer:

COGS= $5,910

Explanation:

Giving the following information:

Beginning inventory= 90 units at $19

Purchases 315 units at $20

Purchases 45 units at $22

Ending inventory= 150 units

First, we need to determine the number of units sold:

Units sold= 450 - 150= 300 units

Under the FIFO (first-in, first-out) method, the cost of goods sold is calculated using the cost of the first units incorporated:

COGS= 90*19 + 210*20= $5,910

4 0
3 years ago
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