subject
Business, 16.04.2020 18:42 bstine6678

On June 27, 2021, Cr Inc. distributed to its common shareholders 400,000 outstanding common shares of its investment in Cl Company. The book value on Cr's books of Cl's $1 par common stock was $2.00 per share. Immediately after the distribution, the market price of Cl's stock was $2.75 per share. In its income statement for the year ended June 30, 2023, what amount should Cl report as gain or loss on disposal of the stock (ignore taxes)?

ansver
Answers: 2

Another question on Business

question
Business, 21.06.2019 14:30
)murphy was consuming 100 units of x and 50 units of y . the price of x rose from 2 to 3. the price of y remained at 4. (a) how much would murphy’s income have to rise so that he can still exactly afford 100 units of x and 50 units of y ? g
Answers: 1
question
Business, 21.06.2019 21:00
The county collector of suncoast county is responsible for collecting all property taxes levied by funds and governments within the boundaries of the county. to reimburse the county for estimated administrative expenses of operating the tax agency fund, the agency fund deducts 1.5 percent from the collections for the town, the school district, and the other towns. the total amount deducted is added to the collections for the county and remitted to the suncoast county general fund.the following events occurred in 2017: 1. current-year tax levies to be collected by the agency were: county general fund $ 10,333,000 town of bayshore general fund 4,840,000 suncoast county consolidated school district 6,550,000 other towns 3,120,000 total $ 24,843,000 2. $13,700,000 of current taxes was collected during the first half of 2017.3. liabilities to all funds and governments as a result of the first half-year collections were recorded. (a schedule of amounts collected for each participant, showing the amount withheld for the county general fund and net amounts due the participants, is recommended for determining amounts to be recorded for this transaction.)4. all cash in the tax agency fund was distributed.requireda. prepare journal entries for each of the foregoing transactions that affected the tax agency fund. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field. do not round intermediate calculations. round your answers to the nearest whole dollar amount.)1. record the current-year tax levies to be collected by the agency.2.record the current taxes collected during the first half of 2017.3.record the liabilities due to all funds and governments at the end of first half-year.4. record the distribution of all cash in the tax agency fundb. prepare journal entries for each of the foregoing entries that affected the town of bayshore general fund. begin with the tax levy entry, assuming 2 percent of the gross levy will be uncollectible. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field. do not round intermediate calculations. round your answers to the nearest whole dollar amount.)1.record the revenues receivable and uncollectible.2. record the taxes collected
Answers: 3
question
Business, 21.06.2019 22:20
Suppose a ceiling fan manufacturer has the total cost function c(x) = 48x + 1485 and the total revenue function r(x) = 75x. (a) what is the equation of the profit function p(x) for this commodity? p(x) = (b) what is the profit on 35 units? p(35) = interpret your result. the total costs are less than the revenue. the total costs are more than the revenue. the total costs are exactly the same as the revenue. (c) how many fans must be sold to avoid losing money? fans
Answers: 1
question
Business, 22.06.2019 06:30
73. calculate the weighted average cost of capital (wacc) based on the following information: the equity multiplier is 1.66; the interest rate on debt is 13%; the required return to equity holders is 22%; and the tax rate is 35%. (a) 15.6% (b) 16.0% (c) 15.0% (d) 16.6% (e) none of the above
Answers: 2
You know the right answer?
On June 27, 2021, Cr Inc. distributed to its common shareholders 400,000 outstanding common shares o...
Questions
question
Mathematics, 18.09.2020 14:01
question
Mathematics, 18.09.2020 14:01
question
Mathematics, 18.09.2020 14:01
question
Social Studies, 18.09.2020 14:01
question
Mathematics, 18.09.2020 14:01
question
Mathematics, 18.09.2020 14:01
question
Mathematics, 18.09.2020 14:01
question
Mathematics, 18.09.2020 14:01
question
Mathematics, 18.09.2020 14:01
question
Social Studies, 18.09.2020 14:01
question
Mathematics, 18.09.2020 14:01
question
Mathematics, 18.09.2020 14:01
question
Mathematics, 18.09.2020 14:01
question
Mathematics, 18.09.2020 14:01
question
Mathematics, 18.09.2020 14:01
question
Mathematics, 18.09.2020 14:01
question
Mathematics, 18.09.2020 14:01
question
Mathematics, 18.09.2020 14:01
question
Mathematics, 18.09.2020 14:01
Questions on the website: 13722360