Business, 17.12.2019 23:31 tristanthecat

Fairbanks corporation purchased 400 shares of sherman inc. common stock for $13,200 (fairbanks does not have significant influence). during the year, sherman paid a cash dividend of $3.25 per share. assume the stock is nonmarketable.

prepare fairbanks’ journal entries to record

(a) the purchase of the investment,

(b) the dividends received, and

(c) the fair value adjustment.

(assume a zero balance in the fair value adjustment account.)

Answers: 3

Show answers

Other questions on the subject: Business

Business, 21.06.2019 19:00, yoongnzl

Danielle enjoy working as in certified public accountant (cpa) and assisting small business and individuals with managing their financial and taxes . which general area of accounting is her specialty ?

Answers: 1

continue

Business, 22.06.2019 11:30, kaylabethany

Mai and chuck have been divorced since 2012. they have three boys, ages 6, 8, and 10. all of the boys live with mai and she receives child support from chuck. mai and chuck both work and the boys need child care before and after school. te boys attend the fun house day care center and mai paid them $2,000 and chuck paid them $3,000. mai's agi is $18,000 and chuck's is $29,000. mai will claim two of the boys as dependents. she signed form 8332 which allows chuck to claim one of the boys. who can take the child and dependent care credit?

Answers: 3

continue

Business, 22.06.2019 13:40, deezzzy

After much consideration, you have chosen cancun over ft. lauderdale as your spring break destination this year. however, spring break is still months away, and you may reverse this decision. which of the following events would prompt you to reverse this decision? a. the marginal cost of going to cancun decreases. b. the marginal cost of going to ft. lauderdale decreases. c. the marginal benefit of going to cancun increases. d. the marginal benefit of going to ft. lauderdale decreases.

Answers: 2

continue

Business, 22.06.2019 19:40, QueenNerdy889

An increase in the market price of men's haircuts, from $16 per haircut to $26 per haircut, initially causes a local barbershop to have its employees work overtime to increase the number of daily haircuts provided from 20 to 25. when the $26 market price remains unchanged for several weeks and all other things remain equal as well, the barbershop hires additional employees and provides 40 haircuts per day. what is the short-run price elasticity of supply? nothing (your answer should have two decimal places.) what is the long-run price elasticity of supply? nothing (your answer should have two decimal places.)

Answers: 1

continue

You know the right answer?

Fairbanks corporation purchased 400 shares of sherman inc. common stock for $13,200 (fairbanks does...