Business, 07.12.2019 07:31 kait93

On january 1, 20x8, polo corporation acquired 75 percent of stallion company's voting common stock for $300,000. at the time of the combination, stallion reported common stock outstanding of $200,000 and retained earnings of $150,000, and the fair value of the noncontrolling interest was $100,000. the book value of stallion's net assets approximated market value except for patents that had a market value of $50,000 more than their book value. the patents had a remaining economic life of ten years at the date of the business combination. stallion reported net income of $40,000 and paid dividends of $10,000 during 20x8.

39) based on the preceding information, what balance will polo report as its investment in stallion at december 31, 20x8, assuming polo uses the equity method in accounting for its investment?

a) $318,750

b) $317,500

c) $330,000

d) $326,250

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 10:30

The advertisement demonstrates a popular way companies try to sell a product. what should consumers consider when it comes to the price of this product? it includes shipping and handling costs. it takes into account maintenance costs. it explains why this price is a good deal. it makes the full cost appears lower than it is.

Answers: 1

Answer

Business, 22.06.2019 18:00

*will mark brainliest! * when a company spends resources (labor, money) to give customers "free" items, those costs are called a. investment costs b. economic costs c. scarcity costs d. opportunity costs answer asap!

Answers: 1

Answer

Business, 22.06.2019 19:10

Below are the steps in the measurement process of external transactions. arrange them from first (1) to last (6). event step post transactions to the general ledger. assess whether the transaction results in a debit or credit to account balances. use source documents to identify accounts affected by an external transaction. analyze the impact of the transaction on the accounting equation. prepare a trial balance. record the transaction in a journal using debits and credits.

Answers: 3

Answer

Business, 22.06.2019 21:40

Rebel technology maintains its records using cash-basis accounting. during the year, the company received cash from customers, $43,000, and paid cash for salaries, $23,500. at the beginning of the year, customers owe rebel $1,000. by the end of the year, customers owe $6,600. at the beginning of the year, rebel owes salaries of $5,600. at the end of the year, rebel owes salaries of $3,300. determine cash-basis net income and accrual-basis net income for the year.

Answers: 2

Answer

You know the right answer?

On january 1, 20x8, polo corporation acquired 75 percent of stallion company's voting common stock f...

Questions