Business, 01.09.2020 01:01 paytonpaige22

Piano acquired 80% of the common stock of Sitar for $140,000 cash on January 1, 2018. At this date, Sitar reported net assets equal to $150,000. Sitar’s net assets had historical book values that approximately equaled their fair values, exceptfor a customer list that had a fair value equal to $15,000 but a book value of $5,000. The customer list has a 5-year remaining useful life at January 1, 2018. Piano uses the equity method to account for the investment in Sitar. Sitar reported net income of $20,000 and paid dividends of $10,000 during 2018 and 2019.Required:Determine the "Investment in Sitar" balance at January 1, 2018. Describe how this balance relates to the amounts recognized on Sitar’s balance sheet?

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 07:30

1 2 3 4 5 6 7 8 9 10time remaining59: 30in the dark game, how does the author develop the central idea that elizabeth van lew was a spymaster during the civil war? 1 2 3 4 5 6 7 8 9 10time remaining59: 30in the dark game, how does the author develop the central idea that elizabeth van lew was a spymaster during the civil war?

Answers: 1

Answer

Business, 22.06.2019 14:10

When a shortage or a surplus arises in the loanable funds market a. the supply of loanable funds changes to return the economy to its original real interest rate b. the nominal interest rate is pulled to the new equilibrium level c. the demand for loanable funds changes to return the economy to its original real interest rate d. the real interest rate is pulled to the new equilibrium level

Answers: 3

Answer

Business, 22.06.2019 14:20

Your uncle borrows $53,000 from the bank at 11 percent interest over the nine-year life of the loan. use appendix d for an approximate answer but calculate your final answer using the formula and financial calculator methods. what equal annual payments must be made to discharge the loan, plus pay the bank its required rate of interest

Answers: 1

Answer

Business, 22.06.2019 16:30

Corrective action must be taken for a project when (a) actual progress to the planned progress shows the progress is ahead of schedule. (b) the technical specifications have been met. (c) the actual cost of the activities is less than the funds received for the work completed. (d) the actual progress is less than the planned progress.

Answers: 2

Answer

You know the right answer?

Piano acquired 80% of the common stock of Sitar for $140,000 cash on January 1, 2018. At this date,...

Questions