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trasher [3.6K]
3 years ago
7

On January 1, 20X7, Poke Corporation acquired 25 percent of the outstanding shares of Shove Corporation for $100,000 cash. Shove

Company reported net income of $75,000 and paid dividends of $30,000 for both 20X7 and 20X8. The fair value of shares held by Poke was $110,000 and $105,000 on December 31, 20X7 and 20X8 respectively. Based on the preceding information, what amount will be reported by Poke as income from its investment in Shove for 20X8, if it used the equity method of accounting
Business
1 answer:
maria [59]3 years ago
4 0

Answer:

$18,750

Explanation:

Income from investment = 25% * $75,000

Income from investment = 0.25 * $75,000

Income from investment = $18,750

The amount that will be reported by Poke as income from its investment in Shove for 20X8, if it used the equity method of accounting is $18,750

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Stephani Corporation has provided data concerning the Corporation's Manufacturing Overhead account for the month of May. Prior t
VashaNatasha [74]

Answer:

the manufacturing overhead for the month should be overapplied by $16,000

Explanation:

Given that

The debit to the manufacturing overhead is $53,000

And, the credit balance is $69,000

So, it should be overapplied by the

= $53,000 - $69,000

= $16,000

Therefore the manufacturing overhead for the month should be overapplied by $16,000

This is the answer but the same is not provided in the given options

7 0
3 years ago
On January 1, Year 3, Wayfarer Co.'s assets were $330,000 and its stockholders' equity was $146,000. During the year, assets inc
cricket20 [7]

Answer:

The Balance of stockholder's equity at December 31 Year 3 is $180000.

Explanation:

The basic accounting equation states that Assets are always equal to the sum of Liabilties and Equity.

Thus, the equation can be written as:

Assets = Liabilities + Equity

The libilities at the start of the year were,

330000 = Liabilities + 146000

Liabilities = 330000 - 146000 = $184000

If Liabilities at the end were 16000 less than at start, Closing balance of Liabilities will be 184000 - 16000 = $168000

The Closing balance of assets will be 330000 + 18000 = $ 348000

The closing balance of Stockholder's equity at Dec 31 Year 3 is:

348000 = 168000 + Equity

Equity = 348000 - 168000 = $180000

8 0
3 years ago
Read 2 more answers
While entrepreneur is a type of _______ role, leader is a(n) ______ role.
sp2606 [1]

While entrepreneur is a type of decisional role, leader is a(n) interpersonal role.

<h3>Who is an entrepreneur?</h3>

An entrepreneur is an individual who is responsible for making decisions regarding the control, financing and organization of a business.

<h3>Who is a leader?</h3>

A leader is an individual who is either elected or appointed to oversee the activities of a particular group of people at a particular time. He must be able to interact effectively with his followers in order to ensure unity and progress.

Learn more about entrepreneur:

brainly.com/question/353543

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4 0
2 years ago
Một hộp đựng 10 quả cầu: 2 đỏ,3 vàng,5 xanh. Chọn ngẫu nhiên từ hộp.xác suất chọn được 1 quả đỏ, 1 quả vàng và 2 quả xanh
valkas [14]

Answer:

can you tell me what is this ?? which language is it :( ???

4 0
3 years ago
Has the death of the watch been greatly exaggerated? Apple gets into the game
Marianna [84]

Although we do not have access to the chapter, we can provide a generalized answer in that people can still be motivated to buy watches today as an accessory from a fashion standpoint.

<h3>What are some motivations today for purchasing a watch?</h3>

In this digital age, watches are no longer purchased mainly for their functional aspects given that smartphones can more than suffice. However, as all marketing for watches will prove, the principal motivation for watches today is fashion. Watches now serve as an accessory to complete any outfit, and as is the case with diamonds, a more expensive watch will occupy the role of a lucrative accessory, drawing the desired attention.

Therefore, we can confirm that people can still be motivated to buy watches today as an accessory from a fashion standpoint.

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7 0
3 years ago
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