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katen-ka-za [31]
2 years ago
7

Assume that Seiden Company gains control of Rimco, its subsidiary, with the purchase of a 40% interest paid in cash. The Equity

Investment account reports a balance of $75,000 on the acquisition date and represents a 30% interest in Rimco. The total value of Rimco on the acquisition date is $300,000 (assume no premium for control). The journal entry to record the acquisition includes:
a. Cash, credit, $300,000
b. Gain on revaluation of Rimco, credit, $15,000
c. Loss on revaluation of Rimco, debit, $15,000
d. None of the above
Business
1 answer:
Bingel [31]2 years ago
7 0

Answer:

the judge and jury duty and UN duty and correct and correct the spelling

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Laura is an 18-year-old student. She is going to open a checking account with an initial deposit of $100. She plans to then have
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Explanation:

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Read 2 more answers
On November 1, year 1, ABC, Inc., received a 3-month, 8%, $1,500 note receivable with interest and principal to be collected on
OverLord2011 [107]

Answer:

The amount of interest revenue that should be recorded for year 1 is $20.

Explanation:

  • A note otherwise known as promissory note is an unconditional written promise by a borrower to a lender (payee) to pay a certain agreed sum at a specific date.
  • The interest revenue on notes receivable is calculated by Principal x Interest rate x Time period
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7 0
2 years ago
On September 1, Year 1, Gomez Company collected $9,000 in advance from a customer for services to be provided over a one-year pe
Leya [2.2K]

Answer:

$3,000 and $9,000

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= $9,000 × 4 months ÷ 12 months

= $3,000

And, under the operating activities the whole amount i.e $9,000 is to be recorded and added to the net income as it is inflow of cash and the same is added using the direct method of the cash flow statements

4 0
3 years ago
Suppose the National Bureau of Economic Research (NBER) comes out with a report suggesting that the economy will soon dip into r
egoroff_w [7]

Levels of cyclical unemployment will rise.

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Unanswered levels of structural unemployment are likely to rise as businesses look for specific types of workers.

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<u>Explanation:</u>

In Economics, a recession is a business cycle constriction when there is a general decrease in monetary action. Downturns by and large happen when there is a far reaching drop in spending.

A recession happens when there are at least two back to back quarters of negative monetary development, which means GDP development contracts during a downturn. As organizations battle with less money and income, they first attempt to lessen their expenses by bringing compensation or stopping down to procure new specialists, which can stop business development.

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