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Central Florida Institute Palm Harbor Defamation Case

Central Florida Institute Palm Harbor Defamation Case

byHomeworkLance.com -February 28, 2022

Central Florida Institute Palm Harbor Defamation Case   During the time when Judge Barnes is p…

At the date of an acquisition which is not a bargain purchase

At the date of an acquisition which is not a bargain purchase, the acquisition method

byHomeworkLance.com -February 28, 2022

1.   At the date of an acquisition which is not a bargain purchase, the acquisition method …

On January 1, 2018, Pacer Company paid $1,920,000 for 60,000 shares of Lennon Co.’s voting common stock which represents a 45% investment. No allocation to goodwill or other specific account was necessary. Significant influence over Lennon was achieved by this acquisition. Lennon distributed a dividend of $2.50 per share during 2018 and reported net income of $670,000. What was the balance in the Investment in Lennon Co. account found in the financial records of Pacer as of December 31, 2018?

byHomeworkLance.com -February 28, 2022

3. On January 1, 2018, Pacer Company paid $1,920,000 for 60,000 shares of Lennon Co.’s votin…

Yaro Company owns 30% of the common stock of Dew Co. and uses the equity method to account for the investment. During 2018, Dew reported income of $250,000 and paid dividends of $80,000. There is no amortization associated with the investment. During 2018, how much income should Yaro recognize related to this investment?

byHomeworkLance.com -February 28, 2022

2. Yaro Company owns 30% of the common stock of Dew Co. and uses the equity method to accoun…

The Equity Method of Accounting for Investments

The Equity Method of Accounting for Investments

byHomeworkLance.com -February 28, 2022

1. Gaw Company owns 15% of the common stock of Trace Corporation and used the fair-value met…