Alex, inc., buys 30 percent of steinbart company on january 1, 2017, for $694,000. the equity method of accounting is to be used. steinbart’s net assets on that date were $2.10 million. any excess of cost over book value is attributable to a trade name with a 20-year remaining life. steinbart immediately begins supplying inventory to alex as follows:
year cost to steinbart transfer price amount held by alex
at year-end
(at transfer price)
2017 $209,600 $262,000 $65,500
2018 134,190 189,000 58,200
inventory held at the end of one year by alex is sold at the beginning of the next. steinbart reports net income of $97,250 in 2017 and $132,450 in 2018 while paying $40,000 in dividends each year. what is the equity income in steinbart to be reported by alex in 2018?

Suppose the following items were taken from the balance sheet of nike, inc. (all dollars are in millions.) 1. cash $ 2,316.7 7. inventory $ 2,245.6 2. accounts receivable 2,786.2 8. income taxes payable 80.3 3. common stock 2,841.1 9. equipment 1,783.8 4. notes payable 291.2 10. retained earnings 6,162.5 5. buildings 3,959.7 11. accounts payable 2,624.6 6. mortgage payable 1,092.3 perform each of the following. classify each of these items as an asset, liability, or stockholders’ equity, and determine the total dollar amount for each classification. (enter amounts in millions up to 1 decimal place, e.g. 45.5 million.) cash accounts receivable common stock notes payable buildings mortgage payable inventory income taxes payable equipment retained earnings accounts payable assets $ 13092 liability $ 4088.4 stockholders’ equity $ 9003.6 etextbook and media determine nike’s accounting equation by calculating the value of total assets, total liabilities, and total stockholders’ equity. (enter amounts in millions up to 1 decimal place, e.g. 45.5 million.) total assets = total liabilities + total stockholders’ equity

Zapper has beginning equity of $257,000, net income of $51,000, dividends of $40,000 and investments by stockholders of $6,000. its ending equity is

Choose the statement that is incorrect. a. search activity occurs only in markets where there is a shortage. b. when a price is regulated and there is a shortage, search activity increases. c. the time spent looking for someone with whom to do business is called search activity. d. the opportunity cost of a good is equal to its price plus the value of the search time spent finding the good.