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Furkat [3]
3 years ago
9

Sox Corporation purchased a 30% interest in Hack Corporation for $1,825,000 on January 1, 2021. On November 1, 2021, Hack declar

ed and paid $2.3 million in dividends. On December 31, Hack reported a net loss of $4.4 million for the year. What amount of loss should Sox report on its income statement for 2021 relative to its investment in Hack
Business
1 answer:
Kazeer [188]3 years ago
8 0

Answer:

the loss reported is $1,135,000

Explanation:

The computation of the amount of loss reported is shown below:

Investment cost $1,825,000  

Less: Share of Dividends received -$690,000 ($2,300,000 × 30%)  

Carrying value of investment $1,135,000  

Share of net loss $1,320,000  ($4,400,000 × 30%)

It should be limited to the carrying value of an investment

Hence, the loss reported is $1,135,000

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3 years ago
As the dollar price of a foreign currency (for example, dollars per yen) decreases, foreign goods will be __________ expensive,
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Answer:

Less; more; more.

Explanation:

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As the dollar price of a foreign currency (for example, dollars per yen) decreases, foreign goods will be less expensive, more foreign goods will be purchased, and more foreign currency will be demanded.

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3 0
3 years ago
You and your friends hike a total of 8 miles to the nearest campsite (Activity A). Upon arriving you break off into teams. One t
IgorLugansk [536]

Answer:

a. The critical path is 16 minutes.

b. The length of time to complete the entire process = 23 minutes.

Explanation:

a) Data and Calculations:

Activity                      Optimistic time   Most Likely Time   Pessimistic Time

                                    to complete         to Complete          to Complete

A Hike to the campsite       3                          5                          8

B Set up campsite               2                          4                          5

C Collect wood for fire        1                          3                          5

D Start a fire                         1                          2                          3

E Find water                        0.5                       1                           3

F Collect water & bring it

back to camp                       1                          2                          4

G Purify the water               1                          2                          4

H Cook and eat dinner       1                          3                          4

I Put out fire                         1                          2                         4

J Dispose of food waste    0.5                      2                          3

K Return from food

 waste disposal                0.25                     1                           2

Total time                         12.25                  27                          45

Critical path: Activity A - Activity B

                     Activity A - Activity C 3 - Activity D 2 - Activity E 1 - Activity F 2

Activity G 2 - Activity H 3 - Activity I and J 2 - Activity K 1

= 3 + 2 + 1 + 2+ 2 + 3 + 2 + 1 = 16 minutes

Length of time to complete the entire process = 27 - 4 = 23

The critical path identifies the longest stretch of dependent activities and measuring the time required to complete them from start to finish.

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