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
Radda [10]
3 years ago
10

Listed below are a few events and transactions of Kodax Company.

Business
1 answer:
oksian1 [2.3K]3 years ago
7 0

Answer:

Year 1

Jan. 2 Purchased 82,000 shares of Grecco Co. common stock for $546,000 cash. Grecco has 246,000 shares of common stock outstanding, and its activities will be significantly influenced by Kodax.

Dr Investment in Grecco Co. 546,000

    Cr Cash 546,000

Sept. 1 Grecco declared and paid a cash dividend of $1.30 per share.

Dr Cash 106,600

     Cr Investment in Grecco Co. 106,600

Dec. 31 Grecco announced that net income for the year is $510,900.

Dr Investment in Grecco Co. 170,300

     Cr Revenue from investment in Grecco Co. 170,300

Year 2

June 1 Grecco declared and paid a cash dividend of $3.20 per share.

Dr Cash 262,400

     Cr Investment in Grecco Co. 262,400

Dec. 31 Grecco announced that net income for the year is $740,400.

Dr Investment in Grecco Co. 246,800

     Cr Revenue from investment in Grecco Co. 246,800

Dec. 31 Kodax sold 13,000 shares of Grecco for $99,500 cash.

each share is worth = $7.2695

Dr Cash 99,500

     Cr Investment in Grecco Co. 94,504

    Cr Gain from investment in Grecco Co. 4,996

You might be interested in
Xyz company is a low-cost provider. xyz is most susceptible to
Alex777 [14]
Xyz company is a low-cost provider. Xyz is most susceptible to ANY NEW INNOVATIONS OR INVENTIONS FROM A COMPETITOR COMPANIES.
Low cost strategy is one of the three generic marketing strategies. It is a pricing strategy in which a service provider or a company reduces the cost to increase profit and demand.
5 0
3 years ago
In 2020, HD had reported a deferred tax asset of $130 million with no valuation allowance. At December 31, 2021, the account bal
Ray Of Light [21]

Answer:

The income tax expense for 2021 income statement is $101 million as computed in the explanation section below.

Explanation:

The income tax expense in the year 2021 is the income taxes payable while adding the reduction in deferred tax asset or deducting the increase in deferred tax asset plus the portion of the current deferred tax asset not realizable using the applicable tax rate as found below:

Income tax payable                                                          $90 million

deduct;increase in deferred tax asset($170-$130)         ($40 million)

Add;unrealized deferred tax asset($170*30%)                $51 million

Income tax expense for 2021 income statement            $101 million

6 0
3 years ago
During the middle years of last decade, the exchange rate of the U.S. dollar has declined against the currencies of its major tr
Aleks04 [339]

Answer:

Because there are other factors that influence the weakening or strengthening of the dollar, not just the dollar exchange rate in relation to the exchange rates of other countries' currencies.

Explanation:

Although the United States has registered increases in the trade deficit, that is, when the country imports more goods and services from abroad than it exports, there are other factors that determine whether the country's currency is valued or not. In the case of the dollar, its value has not decreased despite the fall in the exchange rate of the dollar in relation to the currencies of its main trading partners due to the fact that the dollar is the main reserve currency in the world, which means that the dollar is the fashion of commercial transaction in the world, therefore its value is not lost in relation to other currencies, since several important transactions in the world such as gold and oil commodities are traded in dollars.

There is also the fact that the US attracts a lot of international investment for US Treasury bills, which helps to strengthen the dollar.

6 0
3 years ago
I need help with number 5!!
kakasveta [241]
What is number 5 about
8 0
3 years ago
Read 2 more answers
) Saffron Foods sells jars of special spices used in Spanish cooking. The variable cost is $2 per unit. Fixed costs are $9,000,0
olga nikolaevna [1]

Answer:

C. $4.20

Explanation:

The computation is shown below:

Before that we need to do following calculations

Total costs to be incurred  is

= ($2 × 5,000,000 units) + $9,000,000

= $19,000,000

Now

Required return is

= $40,000,000 ×  5%

= $2,000,000

So,

Sales price per unit is

= (Total cost incurred + required return) ÷ number of unit sold

= ($19,000,000 + 2,000,000) ÷ 5,000,000 units  

= $4.20

6 0
3 years ago
Other questions:
  • Jamal has been tasked with putting together a new team for a new Starbucks project line. As Jamal thinks through the components
    14·1 answer
  • 9. Objective of IS security is to ensure
    13·1 answer
  • What is an example of an interest leading to a career choice?
    7·1 answer
  • Tanya spoke so fast during her speech that it was difficult to understand her.
    5·2 answers
  • The following materials standards have been established for a particular product:
    7·1 answer
  • An owner of a large ranch is considering the purchase of a tractor with a front-end loader to clean his corrals instead of hirin
    14·1 answer
  • A company decides to let go of some employees due to a financial crisis. Jane loses her job, while her colleagues with similar p
    6·1 answer
  • Which person would suffer the most from inflation?
    9·1 answer
  • What is the cost driver for rent expense? ​
    7·1 answer
  • Which team role makes treatment decisions and assigns roles.
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!