Business, 29.03.2021 21:30, ttwright24
On January 1, 2020, Allen Corporation purchased 30% of the 75,000 outstanding common shares of Towne Corporation at $15 per share as a long-term investment. On the date of purchase, the book value and the fair value of the net assets of Towne Corporation were equal. During the year, Towne Corporation reported net income of $60,000. Towne Corporation declared and paid cash dividends of $20,000 on December 30, 2020, to shareholders on record. As of December 31, 2020, common shares of Towne Corporation were trading at $20 per share. a. Record the entries in 2020 assuming that Allen Corporation had significant influence over Towne Corporation.
Answers: 1
Other questions on the subject: Business
Business, 21.06.2019 22:30, petunia6548
True or false: banks are required to make electronically deposited funds available on the same day of the deposit
Answers: 2
Business, 22.06.2019 12:00, dwilburn01
Simon, aged 10, is invited to a classmate's birthday party at an exclusive ski resort on march 15th. the day will include 4 hours of snowboarding, lunch and birthday cake. simon's mother checks a box on the invitation that says "yes, we will attend" and returns it to the classmate's address. unfortunately, they later don't attend the party when simon comes down with the flu. on march 17th, simon's mother receives an invoice in the mail from simon's classmate for $35 that says, "party no-show fee." can simon's classmate collect the fee?
Answers: 3
Business, 22.06.2019 16:40, jojo171717
Based on what you learned about time management which of these statements are true
Answers: 1
Do you know the correct answer?
On January 1, 2020, Allen Corporation purchased 30% of the 75,000 outstanding common shares of Towne...
Questions in other subjects:
Biology, 13.10.2019 14:00
Biology, 13.10.2019 14:00
Spanish, 13.10.2019 14:00
English, 13.10.2019 14:00
