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Angelina_Jolie [31]
2 years ago
8

Judd, Inc., owns 35% of Cosby Corporation. During the calendar year 2010, Cosby had net earnings of $300,000 and paid dividends

of $30,000. Judd mistakenly recorded these transactions using the fair value method rather than the equity method of accounting. What effect would this have on the investment account, net income, and retained earnings, respectively?
a. Understate, overstate, overstate
b. Overstate, understate, understate
c. Overstate, overstate, overstate
d. Understate, understate, understate
Business
1 answer:
zalisa [80]2 years ago
5 0

Answer: d. Understate, understate, understate

Explanation:

If using fair value, the effects of net earnings and dividends would not be accounted for. With the equity method however, this would have done leading to the investment account, net income, and retained earnings being understated if using fair value as opposed to equity.

The Equity method would have sent 35% of the net earnings to the investment account which would have increased it. 35% of the Cosby dividends would have been sent to the net income which would have increased it as well and when net income increases, so does retained earnings.

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8 0
1 year ago
Which should Jill do to increase her credit score?
marshall27 [118]

Answer:

Pay off her credit card debt.

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A low credit score says that the customer is often late in repaying their loans. If Jill wants to improve his credit score, he should clear all his outstanding debts.

6 0
2 years ago
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Lori had a great day at work and has a positive attitude. When she arrives home, she maintains this positive attitude and is in
kondaur [170]

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b. work-family enrichment

Explanation:

Based on the scenario being described within the question it can be said that in this situation Lori is experiencing the concept of work-family enrichment. This term refers to when an individual's experience in what role of their lives improves the quality of life in another role. Such as in this scenario Lori's great experience at work improved her attitude in her family environment and role as a mother.

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3 years ago
One way to recruit companies to a state is to offer tax incentives; another is to assure them that the workforce is prepared. Wh
Vika [28.1K]

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2 years ago
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Dafna11 [192]

Answer:

b- $2,400

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The same should be considered

7 0
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