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

Overspeculation and a decrease in consumer confidence are both leading factors of: ?

Why does an organization prepare a balance sheet? a. to reveal what the organization owns and owes at a point in time b. to reveal how well the company utilizes its cash c. to calculate retained earnings for a given accounting period d. to calculate gross profit for a given accounting period

Nell and kirby are in the process of negotiating their divorce agreement. what should be the tax consequences to nell and kirby if the following, considered individually, became part of the agreement? a. in consideration for her one-half interest in their personal residence, kirby will transfer to nell stock with a value of $200,000 and $50,000 of cash. kirby's cost of the stock was $150,000, and the value of the personal residence is $500,000. they purchased the residence three years ago for $300,000.nell's basis for the stock is $ xkirby's basis in the house is $ xb. nell will receive $1,000 per month for 120 months. if she dies before receiving all 120 payments, the remaining payments will be made to her estate. the payments (qualify, do not qualify) as alimony and are (included in, excluded from) nell's gross income as they are received. c. nell is to have custody of their 12-year-old son, bobby. she is to receive $1,200 per month until bobby (1) dies or (2) attains age 21 (whichever occurs first). after either of these events occurs, nell will receive only $300 per month for the remainder of her life.$ x per month is alimony that is (included in, excluded from) nell's gross income, and the remaining $ x per month is considered (child support, property settlement) and is (nontaxable, taxable) to nell.