1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
FinnZ [79.3K]
3 years ago
9

Blossom, Inc. acquired 20% of Nash Corporation's voting stock on January 1, 2021 for $870000. During 2021, Nash earned $361000 a

nd paid dividends of $224000. Blossom's 20% interest in Nash gives Blossom the ability to exercise significant influence over Nash's operating and financial policies. During 2022, Nash earned $461000 and paid cash dividends of $124000 on April 1 and $124000 on October 1. On July 1, 2022, Blossom sold half of its stock in Nash for $621000 cash. Before income taxes, what amount should Blossom include in its 2021 income statement as a result of the investment?
Business
1 answer:
alexira [117]3 years ago
6 0

Answer:

$72,200

Explanation:

For computing the amount included in the income statement as an investment we need to applied the equity method which is shown below:

= Earned amount × given percentage

= $361,000 × 20%

= $72,200

We simply multiply the earned amount by Nash with the acquiring percentage i.e 20% so that the amount could come and the same is to be included in the income statement

You might be interested in
Each of the following represents a good habit if you’re trying to prevent ID theft EXCEPT…
Eddi Din [679]

Answer:

The correct answer is letter "C": Using one very secure password for all of your major financial accounts.

Explanation:

Using one password -r<em>egardless of how secure it could be</em>- for all the different accounts an individual might have increases the chances that in front of identity theft, the attacker will get the most of the individual's financial assets. <em>It is recommended to have different passcodes with different accounts and avoid using personal information within the passwords.</em>

5 0
3 years ago
On December​ 31, Mercury Corporation has the following data​ available:
galben [10]

Answer:

37.25%

Explanation:

Average total common stockholders' equity:

= (Beginning common​ stockholders' equity + Ending common​ stockholders' equity) ÷ 2

= ($530,000 + $490,000) ÷ 2

= $510,000

Return on Equity = Net income ÷ Average total common stockholders' equity

                            = $190,000 ÷ $510,000

                            = 0.3725

                            = 37.25%

3 0
3 years ago
During 2004, ABC Company had $750,000 of net credit sales. Accounts Receivable had a December 31, 2004, balance of $250,000.
eimsori [14]

Answer:

c. $24,500

Explanation:

The allowance for doubtful accounts is a contra-asset account that records the amount of receivables expected to be uncollectiblea, makes a reduction of the total amount of accounts receivable appearing on a company’s balance sheet. There are two way to estimate uncollectible accounts: the percentage of sales method and the accounts receivable aging method.

ABC Company uses the percentage of sales method - application a flat percentage to the total amount of net credit sales for the period.

Estimated uncollectible = 3% x $750,000 = $22,500

The company establishes an allowance for doubtful accounts for $22,500 while simultaneously reporting $22,500 in bad debt expense.

Before adjusting on December 31, 2004, the Allowance for Doubtful Accounts had a credit balance of $2,000.

The balance in the allowance for doubtful accounts after adjustment is $22,500 + $2,000 = $24,500

8 0
3 years ago
Jason and Katrina work on the loading dock for Longhaul Transport Company. Jason has a disability. Katrina has seniority. Jason
SSSSS [86.1K]

Answer:

Katrina's seniority is a good defense.

Explanation:

Industrial Jurisprudence

This is refered to as a system of rules and regulations that is used by labor and management fashion to show their specific employment rights and obligations in the work environment.

Seniority System

This is refered to as different rules and procedures usually within an agreement that shows the allocation of certain job situations including promotion, layoff and recall, as well as certain economic benefits based on length of service. This is application to many organizations.

Seniority

This very important measure of employee job security and it start with acquiring seniority on the date & time of hire (cannot be awarded until completion of probationary period).

Jason may lose the case as a result of the seniority system.

5 0
3 years ago
Suppose that the price of peanuts falls from $3 to $2 per bushel and that, as a result, the total revenue received by peanut far
Arturiano [62]

Answer:

A) the demand for peanuts is inelastic          

Explanation:

Since in the question it is given that the price of peanuts is fall fro $3 to $2 per bushel which shows the decreased in price while at the same time the revenue received is also decreased from $16 to $14 that results in demand for peanuts is inelastic          

As we know that

Inelastic = When elasticity is less than one

So in the given case since the price and revenue received is decrease therefore the demand is inelastic

4 0
3 years ago
Other questions:
  • John Daniel opened a medical practice in Sacramento, California, and had the following transactions during the month of January.
    6·1 answer
  • A corporation has issued 30,000 shares of $50 par common stock and holds 5,000 of these shares as treasury stock. If the corpora
    13·1 answer
  • Land of Many Lakes (LML) sells butter to a broker in Albert Lea, Minnesota. Because the market for butter is generally considere
    6·1 answer
  • What is the difference between supply and quantity supplied?
    6·1 answer
  • The demand for an electronic component is normally distributed with an average daily demand of 500 units and a standard deviatio
    7·1 answer
  • Your boss listens to employees personal problems and tries to create a positive work environment by being agreeable, eager to he
    13·1 answer
  • ________ pricing occurs when a seller states prices or price savings that mislead consumers or are not actually available to con
    10·1 answer
  • According to the multiple levels of analysis anchor:
    12·1 answer
  • Trent Co. reports the following information: Net cash provided by operating activities $430,000 Average current liabilities 300,
    13·1 answer
  • Good Guy Foods wants to establish a trust fund that will provide $125,000 in scholarships each year for needy students. The trus
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!