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Hatshy [7]
2 years ago
9

At the beginning of the current year, Martin Corporation purchases 20% of the outstanding shares of Foster Company for $200,000

which gave Martin the ability to significantly influence Foster. The price paid reflected Foster's book and fair values of its assets and liabilities. During the current year, Foster reports net income of $25,000 and declares dividends of $15,000. At the end of the current year, what amount should Martin report as investment income from its ownership of Foster's shares?
Business
1 answer:
ki77a [65]2 years ago
3 0

Answer:

$5,000

Explanation:

Calculation to determine what amount should Martin report as investment income from its ownership of Foster's shares

Using this formula

Amount to be reported as investment income=Net income*Percentage of outstanding shares purchased

Let plug in the formula

Amount to be reported as investment income=$25,000 x 20%

Amount to be reported as investment income= $5,000

Therefore The amount that Martin should report as investment income from its ownership of Foster's shares is $5,000

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8 0
2 years ago
Which of the following are examples of how everyday people use the skill of technology in their daily skills
Vitek1552 [10]

The sentence that depicts the examples of how everyday people use the skill of technology in their daily skills is option E. All of these are examples of how everyday people use the skill of technology in their daily skills

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The complete question goes thus:

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6 0
2 years ago
Revenue is recorded when services have been performed or products have been delivered to customers. The accounting principle sup
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The revenue recognition principle

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3 0
2 years ago
The death benefit of a(n) _____ life insurance policy may go down because of poor investment returns.
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6 0
3 years ago
When the price of a movie ticket rises from $6 to $8 for senior citizens, Gary (a senior citizen) decides to go to the movies ev
Aleonysh [2.5K]

Answer:

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The computation of the price elasticity of demand is presented below:

= (change in quantity demanded ÷ average of quantity demanded) ÷ (percentage change in price ÷ average of price)  

where,  

Change in quantity demanded is

= Q2 - Q1

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And, an average of quantity demanded is

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Since it is not given by which method we have to calculate it. So, we use the mid point formula.

Based on the above calculation, we concluded that the demand for movies is elastic

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3 years ago
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