answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
yuradex [85]
1 year ago
14

On January 3, 2018, Roberts Company purchased 30% of the 100,000 shares of common stock of Thomas Corporation, paying $1,500,000

. There was no goodwill or other cost allocation associated with the investment. Roberts has significant influence over Thomas. During 2018, Thomas reported net income of $300,000 and paid dividends of $100,000. On January 4, 2019, Roberts sold 15,000 shares for $800,000. What is the gain/loss on the sale of the 15,000 shares
Business
1 answer:
Helen [10]1 year ago
6 0

Answer:

The gain/loss on the sale of the 15,000 shares is $20,000

Explanation:

The value of the investment as at the end of 2018 using the equity method is computed thus:

Note that 30% of 100,000 shares=30,000 shares

ending value =initial investment+share of profit-share of dividends

ending value =$1,500,000+($300,000*30%)-($100,000*30%)

ending value=$1560000

gain/(loss)=$800,000-($1560000 *15000/30000)

gain/(loss)=$20,000

You might be interested in
The Assembly Department of​ GigaGo, Inc., manufacturer of​ computers, had 2 comma 000 units of beginning inventory in​ September
Alenkasestr [34]

Answer:

8,000 units need to be accounted for

Explanation:

The Weighted Average  method Calculates the cost per unit by Adding the costs in Opening Work in Process and the Costs added in process department during the period. This cost is then divided by the the Sum of units in closing Work in Process and units of Completed goods.

The Units that needs to be Accounted for is the <em>Sum of</em> the units in Opening Work In Process and the units Transferred into the Assembly Department.

7 0
2 years ago
Special consideration should be paid to your tutor’s___________when selecting a tutor.
saw5 [17]

Answer: its A

Explanation:

7 0
2 years ago
Read 2 more answers
The sales for​ January, February, and March are​ $150,000, $180,000 and​ $220,000, respectively. For any particular month of​ sa
Gekata [30.6K]

Answer:

Total cash= $193,000

Explanation:

Giving the following information:

Estimated sales ($):

January= $150,000

February= $180,000

March= $220,000

40% in cash from that same month of​ sales

50% in cash from the previous​ month's sales

10% in cash from the sales from two months ago

C<u>ash collection March:</u>

From March= 220,000*0.4= 88,000

From February= 180,000*0.5= 90,000

From January= 150,000*0.1= 15,000

Total cash= $193,000

3 0
1 year ago
Chubbs Inc.’s manufacturing overhead budget for the first quarter of 2017 contained the following data. Variable Costs Fixed Cos
nydimaria [60]

Answer:

\left[\begin{array}{cccc}-&Budget&Variance&Actual\\IL&10,000&700&9,300\\IM&11000&-3,800&14,800\\Utilities&7,400&-2,400&9,800\\Maintenance&6,000&1,200&4,800\\Total  \: Variable&34,400&-4,300&38,700\\Supervisor&35,400&0&35,400\\Depreciation&7,100&0&7100\\PT and insurance&7,700&-600&8,300\\Maintenance&6,000&0&6,000\\Total \: Fixed&56,200&-600&56,800\\Total \: MO&90,600&-4,900&95,500\\\end{array}\right]

Explanation:

We list them and subtract budget - actual

When actual is greater than budget the variance is negatine.

While budget being lower than actual is considered a positive variance.

3 0
1 year ago
Match each type of GDP with its definition. the market value of all final goods and services produced by resources owned by citi
Firdavs [7]

Answer:

The market value of all final goods and services produced by resources owned by citizens of a particular country in a given year gross GDP

GDP adjusted to base year prices <em>real GDP</em>

GDP divided by population  GDP per capita

GDP adjusted for differences in the cost of living in different countries

<em>GDP power purchase parity</em>

the market value of all final goods and services produced by resources located in a particular country in a given year <em>gross national product GNP</em>

<em></em>

Explanation:

We are mathcing the definition with the term so it is self-explanatory

6 0
2 years ago
Other questions:
  • If kate and sarah both specialize in the good in which they have a comparative advantage the
    6·1 answer
  • Luxe Labels, LLC, exports specialty printing equipment for the custom labeling, flexible packaging, and carton industry. Thanks
    15·1 answer
  • When managing processes, it is vital that:
    6·1 answer
  • The petty cash fund of the Brooks Agency is established at $220. At the end of the current period, the fund contained $155 and h
    7·1 answer
  • Cattle House Steaks, an Alabama company, enters into a contract over the phone with Beef Packing Inc., an out-of-state corporati
    7·1 answer
  • You would like to start a cellular telephone equipment service business. You are considering organizing the business as a sole p
    5·2 answers
  • Shortly after graduating college, Roberto took his place in his family's company in Miami. Roberto's father and uncle started a
    5·1 answer
  • A contribution income statement for the Nantucket Inn is shown below. (Ignore income taxes.) Revenue $ 2,000,000 Less: Variable
    10·1 answer
  • A team of builders has surveyed buyers of their new homes for years. Consistently, only 48% of the buyers have indicated they we
    12·1 answer
  • An asset (not an automobile) put in service in June 2020 has a depreciable basis of $2,065,000, a recovery period of 5 years, an
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!