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Vinvika [58]
3 years ago
5

On January 2, 2020, Howdy Doody Corporation purchased 18% of Ranger Corporation's common stock for $52,000. Based on its ownersh

ip, Howdy Doody Corp. cannot exert significant influence over the operations of Ranger Corp. Ranger's net income for the years ended December 31, 2020, and December 31, 2021, were $11,000 and $52,000, respectively. During 2020, Ranger declared and paid a dividend of $68,000. On December 31, 2020, the fair value of the Ranger stock owned by Howdy Doody had increased to $74,000. How much should Howdy Doody show in the 2020 income statement as income from this investment
Business
1 answer:
Arlecino [84]3 years ago
8 0

Answer:

The Total amount is shown in the income statement $34,240

Explanation:

The computation of the amount that should be presented in the 2020 income statement is shown below:

Dividend collected by Howdy Doody corporation (18% of $68,000) $12,240

rise in Fair value of Stock credited to the income statement ($74,000 - $52,000) $22,000

The Total amount is shown in the income statement $34,240

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Jack and Mary, a married couple, report taxable income of $280,000, which includes $200,000 from Jack's solely owned S corporati
Strike441 [17]

Answer:

$32,140

Explanation:

The QBI  on $280,000(57.3% of Taxable income)                  $160,700

Eligible Deduction of 20% on QBI                                            $32,140

4 0
3 years ago
What size hammer makes a good jig for finding the height of an outlet box?
V125BC [204]

The apt size of a hammer that can be used a s a jigsaw would be

16oz.

Explanation:

To see the size of hammer that would be necessary we must understand the size of the outlet box and how it would require the jig to be.

The average height of an outlet box is usually 12 inches from the floor and it is then attached to a secondary box above it which is 16 inches

So, to lift this piece by the jig we can see that the standard sized hammer of 16 ounces would be apt and would do the job completely well.

So this is the one that must be used.

3 0
3 years ago
As the manager of a golf resort, you want to increase the number of tee times sold by 10%. Your staff economist (and junior cadd
Alex73 [517]

Answer:

The price of tee-time should be reduced by 6.67%.

Explanation:

The price elasticity of demand for tee times is –1.5.  

The manager wants to increase the number of tee times sold by 10%.  

The price elasticity of demand shows the change in quantity demanded due to a change in the price level. It is the ratio of the percentage change in quantity demanded and percentage change in price.  

Price elasticity = \frac{\% \Delta Q}{\% \Delta P}

- 1.5 = \frac{10 \%}{\% \Delta P}

\% \Delta P = \frac{10}{- 1.5}

\% \Delta P = - 6.67 \%

7 0
2 years ago
Many small businesses choose to outsource their payroll activities to firms that specialize in providing payroll services. Dolor
natita [175]

Answer:

revenue cycle

Explanation:

Dolores Yu provides a payroll processing business. According to question, service has been rendered and now its time to collect bills for those service.

Since revenue cycle is capturing of bills and payment for product or service rendered. The work mentioned in the problem is part of revenue cycle.

5 0
3 years ago
Land of Many Lakes (LML) sells butter to a broker in Albert Lea, Minnesota. Because the market for butter is generally considere
Mice21 [21]

Answer:

A. can choose the quantity of butter that it produces but not the price at which it sells its butter.

Explanation:

Taking into consideration the characteristic of the market explained in the exercise we would say that it is a Competitive Market.

One of the characteristics of a Perfect Competitive Market is that the price of the products is determined by the market, which means that no single seller can't change or influence the price on its own.

Hope it helps. Good luck.

3 0
3 years ago
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