Business, 12.02.2021 07:20, celestesanchezts
Sage, Inc., bought 40% of Adams Corp.'s outstanding voting common stock on January 2 for $400,000, which equaled a proportionate share of the fair value of the net assets. Sage has significant influence over Adams' operations and uses the equity method to account for this investment. The carrying amount of the net assets at the purchase date was $900,000. Fair values and carrying amounts were the same for all items except for plant and inventory, for which fair values exceeded their carrying amounts by $210,000 and $15,000, respectively. The plant has a 20-year life. All inventory was sold during the year. During the year, Adams reported net income of $904,000 and paid a $59,000 cash dividend. What amount should Sage report as Equity Income in its income statement from its investment in Adams for the year ended December 31
Answers: 3
Business, 22.06.2019 12:00, jybuccaneers2022
Agovernment receives a gift of cash and investments with a fair value of $200,000. the donor specified that the earnings from the gift must be used to beautify city-owned parks and the principal must be re-invested. the $200,000 gift should be accounted for in which of the following funds? a) general fund b) private-purpose trust fund c) agency fund d) permanent fund
Answers: 1
Business, 22.06.2019 16:40, michibabiee
Shawn received an e-mail offering a great deal on music, movie, and game downloads. he has never heard of the company, and the e-mail address and company name do not match. what should shawn do?
Answers: 2
Sage, Inc., bought 40% of Adams Corp.'s outstanding voting common stock on January 2 for $400,000, w...
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