Business, 06.05.2020 17:07 paras29

As a long-term investment at the beginning of the 2018 fiscal year, Florists International purchased 25% of Nursery Supplies Inc.'s 16 million shares for $68 million. The fair value and book value of the shares were the same at that time. During the year, Nursery Supplies earned net income of $52 million and distributed cash dividends of $.75 per share. At the end of the year, the fair value of the shares is $64 million.

Required: Prepare the appropriate journal entries from the purchase through the end of the year.

Answers: 3

Show answers

Other questions on the subject: Business

Business, 23.06.2019 10:00, dianamunoz580

Avillage levied property taxes of $910,000 for calendar year 2019 on january 1, 2019 and immediately set up an allowance of $10,000 for uncollectible taxes. the village collected $870,000 in cash during 2019. it expected to collect $22,000 of the unpaid taxes during the first 60 days of 2020 and an additional $8,000 during the rest of 2020. how much should the village recognize as property tax revenues in its 2019 general fund financial statements? a) $870,000 b) $892,000 c) $900,000 d) $910,000

Answers: 1

continue

Business, 23.06.2019 20:30, artursino

Suppose that the government establishes a price ceiling of $3.70 for wheat. a. why might the government establish this price ceiling?

Answers: 1

continue

Business, 23.06.2019 22:00, insomniacnana2

How do public goods limit a free market economy? a. they allow consumers to make only occasional economic decisions. b. they allow government to make some economic decisions. c. they allow consumers to make all of the economic decisions. d. they do not allow government to make any economic decisions.

Answers: 1

continue

Business, 24.06.2019 01:30, cassanovaanthony

Acorporation acquires new funds only when its securities are sold in the a. secondary market by a commercial bank. b. secondary market by an investment bank. c. primary market by an investment bank. d. secondary market by a stock exchange broker.

Answers: 1

continue

You know the right answer?

As a long-term investment at the beginning of the 2018 fiscal year, Florists International purchased...