On January 2 of the the current year, Jazz Co. paid $310,000 to purchase 75% of the voting shares of Soundwave Co. Soundwave holds no shares of Jazz. Jazz reported retained earnings of $80,000, and Soundwave reported contributed capital of $300,000 and retained earnings of $100,000. The purchase differential was attributed to depreciable assets with a remaining life of 10 years. Jazz uses the equity method in accounting for the investment in Soundwave Soundwave reported net income of $20,000 and paid dividends of $8,000 during the year. Jazz reported income, exclusive of net income from Soundwave, of $30,000 and paid dividends of $15,000 during the year. What amount will Jazz report as dividends declared and paid in the current year's consolidated financial statements

Financial information that is capable of making a difference in a decision is

Miko willingly admits that she is not an accountant by training. she is concerned that her balance sheet might not be correct. she has provided you with the following additional information. 1. the boat actually belongs to miko, not to skysong, inc.. however, because she thinks she might take customers out on the boat occasionally, she decided to list it as an asset of the company. to be consistent, she also listed as a liability of the corporation her personal loan that she took out at the bank to buy the boat. 2. the inventory was originally purchased for $27,500, but due to a surge in demand miko now thinks she could sell it for $39,600. she thought it would be best to record it at $39,600. 3. included in the accounts receivable balance is $11,000 that miko loaned to her brother 5 years ago. miko included this in the receivables of skysong, inc. so she wouldn’t forget that her brother owes her money. (b) provide a corrected balance sheet for skysong, inc.. (hint: to get the balance sheet to balance, adjust stockholders’ equity.) (list assets in order of liquidity.)

If jobs have been undercosted due to underallocation of manufacturing overhead, then cost of goods sold (cogs) is too low and which of the following corrections must be made? a. decrease cogs for double the amount of the underallocation b. increase cogs for double the amount of the underallocation c. decrease cogs for the amount of the underallocation d. increase cogs for the amount of the underallocation