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Business, 28.11.2019 07:31 aaliyahchavez13

Conchita cosmetics acquired 10% of the 200,000 shares of common stock of martinez fashion at a total cost of $13 per share on march 18, 2014. on june 30, martinez declared and paid a $75,000 cash dividend. on december 31, martinez reported net income of $122,000 for the year. at december 31, the market price of martinez fashion was $15 per share. the securities are classified as available-for-sale. situation 2 monica, inc. obtained significant influence over seles corporation by buying 30% of seles’s 30,000 outstanding shares of common stock at a total cost of $9 per share on january 1, 2014. on june 15, seles declared and paid a cash dividend of $36,000. on december 31, seles reported a net income of $85,000 for the year.

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Conchita cosmetics acquired 10% of the 200,000 shares of common stock of martinez fashion at a total...

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