subject
Business, 20.09.2020 16:01 papasully1

Kent Company purchased 35 percent ownership of Lomm Company on January 1, 20X8, for $140,000. Lomm reported 20X8 net income of $80,000 and paid dividends of $20,000. At December 31, 20X8, Kent determined the fair value of its investment in Lomm to be $174,000. Required: a. Give all journal entries recorded by Kent with respect to its investment in Lomm in 20x8 assuming it uses the equity method. b. Give all journal entries recorded by Kent with respect to its investment in Lomm in 20X8 assuming it carries the securities at fair value method. Complete this question by entering your answers in the tabs below. Required ARequired B a. Give all journal entries recorded by Kent with respect to its investment in Lomm in 20x8 assuming it uses the equity method. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list

ansver
Answers: 3

Other questions on the subject: Business

image
Business, 21.06.2019 19:30, hayleyl05
How do primary and secondary industries differ
Answers: 1
image
Business, 21.06.2019 23:30, enchantednights
Renaldo scanlon is a financial consultant. he earns $30 per hour and works 32.5 hours a week. what is his straight-time pay?
Answers: 1
image
Business, 22.06.2019 08:10, alex7881
The last time he flew jet value air, juan's plane developed a fuel leak and had to make an 4) emergency landing. the time before that, his plane was grounded because of an electrical problem. juan is sure his current trip will be fraught with problems and he will once again be delayed. this is an example of the bias a) confirmation b) availability c) selective perception d) randomness
Answers: 1
image
Business, 22.06.2019 20:50, lopez5628
Many potential buyers value high-quality used cars at the full-information market price of € p1 and lemons at € p2. a limited number of potential sellers value high-quality cars at € v1 ≤ p1 and lemons at € v2 ≤ p2. everyone is risk neutral. the share of lemons among all the used cars that might be potentially sold is € θ . suppose that the buyers incur a transaction cost of $200 to purchase a car. this transaction cost is the value of their time to find a car. what is the equilibrium? is it possible that no cars are sold
Answers: 2
You know the right answer?
Kent Company purchased 35 percent ownership of Lomm Company on January 1, 20X8, for $140,000. Lomm r...

Questions in other subjects: