the amount of the debit to Equity Investments would have been ?
Q: How much should Jaybo Company report as unrealized gain or loss related to the securities in its…
A: Unrealized gain or loss is the unrealized either gain or loss which has been calculated when the…
Q: The investments of Harlon Enterprises included the following cost and fair value amounts ($ in…
A:
Q: At the beginning of 2018, Pioneer Products’ ownership interest in the common stock of LLB Co.…
A:
Q: S&L Financial typically classifies equity investments as fair value through other comprehensive…
A: As per IFRS 9 If an equity investment is classified as per Fair value through other comprehensive…
Q: Franklin Co. owns 40% of the voting common stock of Academic Services Inc. Franklin uses the equity…
A: Formula: Balance in the investment account as of December 31, 2021 = Beginning investment balance +…
Q: aybo Company purchased the following portfolio of equity instrument designated as fair value through…
A: Company report as unrealized gain or loss related to the securities in its 2022 statement of…
Q: Company acquired equity securities during the year 2018 and designated as fair value to other…
A: Investment in shares is the investment which is done by the investor to get gain by the increase in…
Q: On January 1, 2021, PUP CAF acquired a 10% interest in an investee for P3,000,000. The investment…
A: Working note : 1 Computation of Net Investment Income $ Share in net income (8000,000 x…
Q: Following are selected account balances from Peregrine Company and Sprano Corporation as of December…
A: Consolidated financial statements are a set of financial statements prepared for a group company…
Q: Strawberry Corp. has various equity investment at fair value through profit or loss transactions…
A: As per IFRS 9, Financial instruments, those investments for which fair value through profit or loss…
Q: For items 5 and 6, please refer to the following information: On January 1, 2021, ABC Company…
A: When the investment is purchased , transaction cost is included in its total cost.
Q: nsive income? Use negative sign for the unrealized loss How much unrealized gain or loss on…
A: Hello. Since your question has multiple sub-parts, we will solve the first three sub-parts for you.…
Q: Gera Corporation owns two financial investments in the shares of listed companies. Details of which…
A: The details of two investments made by the company are as follows: Investment 1 – Acquired on…
Q: During 2021, Lavida Loca Company purchased trading securities with the following cost and market…
A: Total cost of trading securities = 300,000 + 1,500,000 + 3,800,000 = 5,600,000 Total market value of…
Q: During 2022, Merry Co. purchased the following shares which it classified as FVPL investment:…
A: Fair Value through Profit and Loss A/c: if a financial instrument is held as FVPL then it means it…
Q: Following is a list of investments owned by Ivanhoe Ltd., as of the company’s year-end, December 31,…
A: The fair value (FV) method for recording the investment-related transaction made the corporation…
Q: If Apollo Company acquired a 30% interest in Twin Company on December 31, 2021 for P202,500 and…
A: The equity account of the company consists of all the money raised from the investors of the company…
Q: Mokwena Limited acquired 48% investment in Masibi Limited at R100 000. At the date of acquisition,…
A: Equity method is a type of accounting used for inter-corporate investments. It is used when the…
Q: Jaybo Company purchased the following portfolio of equity instrument designated as fair value…
A: Unrealised gains or losses are those gains or losses, which are not realised yet. These are only…
Q: In 2021, Cromwell Corporation purchased bonds of Oliver Company at par for $300,000 and classified…
A: Investments are those assets which generate income mostly in form of interest. Investments can be…
Q: On January 1, 2020, Jumper Co. acquired all of the common stock of Cable Corp. for $540,000. Annual…
A: Investment in common stock means purchasing of common stock of the company. The company generally…
Q: On January 1, 2021, OBDURATE Co. acquired 30% ownership interest in STUBBORN, Inc. for P200,000.…
A: Purchase consideration: Fair value of the equity investment + Purchase price paid for acquiring…
Q: Gaw Company owns 15% of the common stock of Trace Corporation and used the fair-value method to…
A: Under fair value method of recording investment, net income includes only dividend amount received.…
Q: (A) For letters a to d, identify how much to add or deduct from the Investment in Associate account…
A: Since there are multi sub-parts, we will solve first three for you. To get the remaining sub-parts…
Q: Mokwena Limited acquired 48% investment in Masibi Limited at R100 000. At the date of acquisition,…
A: Value of net assets of masibi limited : Net assets = (Fixed assets+ Non current assets + current…
Q: Gera Corporation owns two financial investments in the shares of listed companies. Details of which…
A: The details of investment of a company are as follows: Investment 1 – Acquired on September 1,…
Q: equity method to account for this investment
A: Since Jupiter Inc. acquired 25% in Saturn Co., the debit balance in the investment will include the…
Q: Jon company owns two financial investments in the shares of listed companies. With the following…
A: The details of investment of a company are as follows: Investment 1 – Acquired on September 1,…
Q: Assume that the entity is a medium-size and the company policy is to account this type of investment…
A: The correct answer for the above mentioned question is given in the following steps for your…
Q: On January 1, 2021, X Inc. purchased 25% of the voting shares of Y Inc. However, due to a system…
A: X Inc. purchased 25% of the voting shares of Y Inc. and uses the equity method as. X has significant…
Q: On January 1, 2021, Kavior Inc. had a credit balance in the Accumulated Other Comprehensive Income…
A: Solution Given Credit balance in AOCI $36970 Number of share purchased 3000 Purchase…
Q: On January 1, 2018 Alexes Company purchased market marketable equity securities to be held as…
A: Unrealized gain(loss) = Fair value of securities sold - Acquisition cost of securities
Q: HHT Bhd has a portfolio of diversified investments. In 2020, the company made investments in two…
A: Classification of Financial Assets stipulated in MFRS 9 Classification of the financial assets…
Q: Martinez Company has the following investments as of December 31, 2020: Investments in common stock…
A: Journal Entry: It refers to the process of recording the data into books of accounts on continuous…
Q: During 2022, ABC Corp. acquired 500 shares of XYZ stock at P30 per share. ABC accounted for the…
A: The statement of comprehensive income is a statement which shows the adjustment made to net income…
Q: (a) An investor purchased the share of Neptune Corp on 1 Jan 2017 and held the investment until 31…
A: Arithmetic rate of return Arithmetic rate of return for a year is calculated as shown below.…
Q: January 1, 2021, ABC acquired a 10% interest in an investee for P3,000,000. The investment was…
A: This is the method of an accounting which is used by a company to record the profits earned through…
Q: Gera Corporation owns two financial investments in the shares of listed companies. Details of which…
A: Investment in shares means where one company buys the share of another company and held as…
Q: The following investment portfolio of equity securities (all acquired during 2021) accounted for as…
A: You have posted multiple part question, so as per policy of Bartleby only first three parts will be…
Q: Peregrine $ (700,000) Sprano (400,000) Revenues Cost of goods sold Depreciation expense Equity…
A: In the given question, we are provided with the data of two companies named Peregrine and Sprano.…
Q: Identify how much to add or deduct from the Investment in Associate account of ABC based on the…
A: No of shares in X Corp = 100,000 shares No of shares bought by ABC = 3,000 shares % of Holding in X…
Q: Gaw Company owns 15% of the common stock of Trace Corporation and used the fair-value method to…
A: The dividend represents the profit distributed among shareholders as per their share holdings.
Q: On January 1, 2021, OBDURATE Co. acquired 30% ownership interest in STUBBORN, Inc. for P200,000.…
A: A business combination occurs when an entity acquires control over an organization. Generally, the…
Q: weet Company has the following investments as of December 31, 2020: Investments in common stock of…
A: Marketable securities are defined as any unrestricted financial instrument that can be bought or…
Q: PR Corp has not yet accounted for the issue of its own shares or for the acquisition of the…
A: Acquisition: Acquisition can be defined as form of business combination where a business acquires…
Q: Sweet Company has the following investments as of December 31, 2020: Investments in common stock of…
A: An impaired asset is one with a market value that is lower than the value indicated on the balance…
Q: On January 3, 2018,A Corp. purchased 25% of the voting common stock or C0.paying S2,500,000. A Cop.…
A: working notes: G Co, total stockholders' equity=(8,000,000 + 400,000)=8,400,000 Fair Market…
Q: Required: 1. Determine the balance of the investment account as it was kept by Jen Company. 2.…
A: Jen Company has made some transactions pertaining to long term investment in shares of Jisoo…
Q: On January 1, 2018, BLEED Inc. acquired 10% interest in an investee for P3,000,000, The investment…
A: Investments held for trading purpose- Investments that are held for trading are measured at fair…
Q: Big owns 70% of Little and uses the equity method to account for its investment in Little. In 2020,…
A: In the given Problem, Big owns 70% of Little and uses the equity method to account for its…
The summarized
Step by step
Solved in 2 steps
- #12 The summarized balance sheets of ROSE N' Company and GARDEN Company as of December 31, 2021, are as follows: ROSE N' CompanyBalance SheetDecember 31, 2021 Assets $2000000 Liabilities $220000 Capital stock 1000000 Retained earnings 780000 Total equities $2000000 GARDEN CompanyBalance SheetDecember 31, 2021 Assets $1480000 Liabilities $330000 Capital stock 990000 Retained earnings 160000 Total equities $1480000 If ROSE N' Company acquired a 30% interest in GARDEN Company on December 31, 2021 for $350000 and the equity method of accounting for the investment were used, the amount of the debit to Equity Investments (GARDEN) would have been $444000. $297000. $345000. $350000.Mvula Limited Statement of Financial Position as at: 28 February 2021 ASSETS Non-current assets Fixed/tangible assets Financial assets Fixed deposit Current assets Inventory Trade and other receivables Cash and cash equivalents Fixed deposit TOTAL ASSETS 4 320 350 EQUITY AND LIABILITIES Bay Holdings Limited: 30 June 2021.Required:Statement of financial position as at: 30 June 2021InformationBALANCE SHEET ACCOUNTSOrdinary share capital 2 648 000Retained income (1 Jul 2020) 490 000Shareholders for dividends 280 000Fixed deposit 60 000Mortgage bond 336 000Fixed/tangible assets (Carrying value) 4 021 000Debtors control 45 000Creditors…What should be the balances on the revaluation surplus and retained earnings after the restatement in accordance with PAS 29? Revaluation surplus – 100; Retained earnings – 400 Revaluation surplus – 350; Retained earnings – 150 Revaluation surplus – 500; Retained earnings – Zero Revaluation surplus – Zero; Retained earnings – 500
- Can you answer for the following: (d) Return on assets. (Assets on 12/31/20 were $2,800.) (e) Return on common stockholders’ equity. (Stockholders’ equity—common on 12/31/20 was $910.) (f) Debt to assets ratio. (g) Times interest earned.Using the Balance Sheet and Income Statement please calculate the following: Balance Sheet Assets Liabilities and Owner’s Equity 2018 2019 2018 2019 Current Assets Current Liabilities Cash 300 325 Acts Pay 480 400 Accs Rec 275 270 Notes Pay 560 500 Inventory 600 675 Total 1,040 900 Total 1,175 1,270 Long Term Debt 950 1,200 Fixed Assets Net Fixed 2,350 2,875 Owners Equity Preferred Stock 750 845 Retained Earn 785 1,200 Total 1,535 2,045 Total Assets 3,525 4,145 Total Liabilities & OE 3,525 4,145 2019 Income Statement Net Sales 3,456 COGS 1,895 Depreciation 235 EBIT 1,326 Interest 320 Taxable Income 1,006 Taxes 211.26 Net Income 794.74 Dividends 147 Additions to Retained Earnings 647.74…JUST DEW IT CORPORATION2017 and 2018 Balance Sheets Assets Liabilities and Owners' Equity 2017 2018 2017 2018 Current assets Current liabilities Cash $ 10,150 $ 10,350 Accounts payable $ 74,500 $ 61,250 Accounts receivable 27,100 27,250 Notes payable 48,500 49,250 Inventory 62,900 63,500 Total $ 123,000 $ 110,500 Total $ 100,150 $ 101,100 Long-term debt $ 59,400 $ 64,900 Owners' equity Common stock and paid-in surplus $ 80,000 $ 80,000 Fixed assets Retained earnings 171,750 192,700 Net plant and equipment $ 334,000 $ 347,000 Total $ 251,750 $ 272,700 Total assets $ 434,150 $ 448,100 Total liabilities and owners' equity $ 434,150 $ 448,100 Based on the balance sheets given for Just Dew It, calculate the following…
- Use the common-size financial statements found here: ommon-Size Balance Sheet 2016Cash and marketable securities $ 480 1.5 %Accounts receivable 6,030 18.2Inventory 9,540 28.8Total current assets $ 16,050 48.5 %Net property, plant, and equipment 17,020 51.5Total assets $33,070 100.0 %Accounts payable $ 7,150 21.6 %Short-term notes 6,850 20.7Total current liabilities $ 14,000 42.3 %Long-term liabilities 7,010 21.2Total liabilities $ 21,010 63.5 %Total common shareholders’ equity 12,060 36.5Total liabilities and shareholders’ equity $33,070 100.0 %Common-Size Income Statement 2016Revenues $ 30,000 100.0 %Cost of goods sold (20,050) 66.8Gross profit $ 9,950 33.2 %Operating expenses (7,960) 26.5Net operating income $ 1,990 6.6 %Interest expense (940) 3.1Earnings before taxes $ 1,050 3.5 %Income taxes (382) 1.3Net income $668 2.2 % Specifically, write up a brief narrative that responds to the following questions: a. How much cash does Patterson have on hand relative to its total…Rodriquez Corporation’s comparative balance sheets are presented below: RODRIQUEZ CORPORATIONComparative Balance SheetsDecember 31 2020 2019 Cash $16,500 $17,400 Accounts receivable 25,300 22,100 Investments 20,150 15,850 Equipment 59,950 69,850 Accumulated depreciation—equipment (13,850 ) (10,300 ) Total $108,050 $114,900 Accounts payable $14,850 $11,150 Bonds payable 10,600 30,100 Common stock 49,500 45,500 Retained earnings 33,100 28,150 Total $108,050 $114,900 Additional information: 1. Net income was $18,550. Dividends declared and paid were $13,600. 2. Equipment which cost $9,900 and had accumulated depreciation of $1,600 was sold for $3,300. 3. No noncash investing and financing activities occurred during 2020. Prepare a statement of cash flows for 2020 using the…Choose the correct letter of answer: Company F Statement of Financial Positions at December 31, 2020 shows the following: Cash P4,000.00, Marketable Securities P8,000.00, Accounts Receivable P100,000.00, Inventories P120,000.00, Prepaid Expenses P1,000.00, Notes Payable (short term) P5,000.00, Accounts Payable P150,000.00, Accrued Expenses P20,000.00, Income taxes payable P1,000.00, and long-term liabilities P340,000.00. Determine the following: current ratio and quick ratio. a. 1.32 and 0.64b. 1.52 and 0.82c. 1.82 and 0.86d. 1.98 and 1.54e. 2.2 and 2.1
- Here are comparative balance sheets for Velo Company. Velo CompanyComparative Balance SheetsDecember 31 Assets 2020 2019 Cash $73,200 $32,700 Accounts receivable 85,600 70,500 Inventory 169,800 186,600 Land 74,000 100,600 Equipment 260,500 200,100 Accumulated depreciation—equipment (65,800 ) (33,700 ) Total $597,300 $556,800 Liabilities and Stockholders’ Equity Accounts payable $35,400 $47,300 Bonds payable 151,400 203,000 Common stock ($1 par) 217,500 173,200 Retained earnings 193,000 133,300 Total $597,300 $556,800 Additional information: 1. Net income for 2020 was $104,100. 2. Cash dividends of $44,400 were declared and paid. 3. Bonds payable amounting to $51,600 were redeemed for cash $51,600. 4. Common stock was issued for $44,300 cash. 5. No…E5.3B (L0 1,2) (Classification of Balance Sheet Accounts) Assume that Clark Enterprises uses the following headings on its balance sheet. (a) Current assets. (f) Current liabilities. (b) Investments. (g) Long-term liabilities. (c) Property, plant, and equipment. (h) Capital stock. (d) Intangible assets. (i) Paid-in capital in excess of par. (e) Other assets. (j) Retained earnings. Instructions Indicate by letter how each of the following usually should be classified. If an item should appear in a note to the financial statements, use the letter “N” to indicate this fact. If an item need not be reported at all on the balance sheet or the notes to the financial statements, use the letter “X.” 1. Twenty-year issue of bonds payable that will 5. Salaries that company budget shows will be mature within the next year. (No sinking fund paid to employees within the next year. exists, and…Required: 1. The carrying value of investment in King Inc. shares in 2019 is? 2. How much should be reported another comprehensive income/loss in the statement of comprehensive income for 2019 in relation to the investments? Thank you! Please answer complete