subject
Mathematics, 23.11.2020 02:30 maualca

On July 1, 2021, Clearwater Inc. purchased 8,000 shares of the outstanding common stock of Mountain Corporation at a cost of $180,000. Mountain had 32,000 shares of outstanding common stock. The total book value and total fair value of Mountain’s individual net assets on July 1, 2021, are both $720,000. The total fair value of the 32,000 shares of Mountain’s common stock on December 31, 2021, is $770,000. Both companies have a January through December fiscal year. The following data pertains to Mountain Corporation during 2021: Dividends declared and paid, January 1–June 30 $ 12,200 Dividends declared and paid, July 1–December 31 $ 12,200 Net income, January 1–June 30 $ 14,200 Net income, July 1–December 31 $ 18,200 Required: 1. Prepare the necessary entries for 2021 under the equity method (other than for the purchase). 2. Prepare any necessary entries for 2021 (other than for the purchase) that would be required if the securities were accounted for under the fair value through net income method.

ansver
Answers: 3

Another question on Mathematics

question
Mathematics, 21.06.2019 19:30
Look at this pattern ; 1,4,9, number 10000 belongs in this pattern . what’s the place of this number?
Answers: 3
question
Mathematics, 21.06.2019 21:30
Questions 9-10. use the table of educational expenditures to answer the questions. k-12 education expenditures population indiana $9.97 billion 6.6 million illinois $28.54 billion 12.9 million kentucky $6.58 billion 4.4 million michigan $16.85 billion 9.9 million ohio $20.23 billion 11.6million 9. if the amount of k-12 education expenses in indiana were proportional to those in ohio, what would have been the expected value of k-12 expenditures in indiana? (give the answer in billions rounded to the nearest hundredth) 10. use the value of k-12 education expenditures in michigan as a proportion of the population in michigan to estimate what the value of k-12 education expenses would be in illinois. a) find the expected value of k-12 expenditures in illinois if illinois were proportional to michigan. (give the answer in billions rounded to the nearest hundredth) b) how does this compare to the actual value for k-12 expenditures in illinois? (lower, higher, same? )
Answers: 1
question
Mathematics, 21.06.2019 22:30
What would be the reasons for lines 3 and 4? a. addition property; subtraction property b. addition property; solve c. substitution property; subtraction property d. substitution property; prove
Answers: 1
question
Mathematics, 22.06.2019 00:00
Let u = {q, r, s, t, u, v, w, x, y, z} a = {q, s, u, w, y} b = {q, s, y, z} c = {v, w, x, y, z}. list the elements in the set.a ∩ (b ∪ c)a) {q, s, w, y}b) {q, y, z}c) {q, s, u, w, y, z}d) {q, r, w, y, z}
Answers: 1
You know the right answer?
On July 1, 2021, Clearwater Inc. purchased 8,000 shares of the outstanding common stock of Mountain...
Questions
question
History, 10.05.2021 16:20
question
History, 10.05.2021 16:20
question
Mathematics, 10.05.2021 16:20
Questions on the website: 13722363