On January 1, Wildhorse Corporation purchased a 25% equity investment in Shane Corporation for $148,900. At December 31, Shane declared and paid a $84,400 cash dividend and reported net income of $385,900.
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Hello! I need help with the following, where we have to determine the amount to be reported as an investment in Shane stock at December 31 based on the information attatched below.
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- On January 1, Ivanhoe Corporation purchased a 25% equity in Helbert Corporation for $152,000. At December 31, Helbert declared and paid a $44,700 cash dividend and reported net income of $196,500. Determine the amount to be reported as an investment in Helbert stock at December 31. Investment in Helbert, December 31 $On January 2, Matthews Corporation acquired 20% of the outstanding common stock of Dennehy Company for $450,000. For the year ended December 31, Dennehy reported net income of $90,000 and paid cash dividends of $30,000 on its common stock. On December 31, the carrying value of Matthews' investment in Dennehy under the equity method is O $450,000. O $456,000. O $444,000. O $462,000. eTextbook and Media Save for Later Attempts: 0 of 2 used Submit AnswerOn January 1, Aivah Company purchased 2,000 common shares (25%) of Maywood Corporation as a long-term investment for $235,000. Later in the year, Maywood paid $23,000 in total cash dividends on December 15 and reported net income of $74,000 for the year ended December 31. Determine the amount reported as an equity method investment on Aivah's December 31 balance sheet. Balance
- Ayayai Corporation purchased 300 common shares of Sigma Inc. for trading purposes for $9,300 on September 8 and accounted for the investment under ASPE at FV-NI. In December, Sigma declared and paid a cash dividend of $1.65 per share. At year end, December 31, Sigma shares were selling for $35.60 per share. In late January, Ayayai sold the Sigma shares for $34.60 per share. Prepare Ayayai Corporation’s journal entry to record the purchase of the investment. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit September 8 enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount Prepare Ayayai Corporation’s journal entry to record the dividends received. (Credit…On January 1, Sohar Corporation purchased a 25% equity in Salalah Corporation for $120,000. At December 31, Salalah declared and paid a $50,000 cash dividend and reported net income of $250,000. Instructions (a) Journalize the transactions. (b) Determine the amount to be reported as an investment in Salalah stock at December 31.Handley Ltd. acquired 42% of the common shares of Lecce Ltd. on January 1, 2024, by paying $5.68 million for 142,000 shares. Lecce declared a cash dividend of $0.60 per share in each quarter that Handley received on March 20, June 20, September 20, and December 20. Lecce reported net income of $1.42 million for the year. At December 31, the market price of the Lecce shares was $44 per share.
- On January 2, 20Y4, Whitworth Company acquired 37% of the outstanding stock of Aloof Company for $320,000. For the year ended December 31, 20Y4, Aloof Company earned income of $83,000 and paid dividends of $26,000. On January 31 20Y5, Whitworth Company sold all of its investment in Aloof Company stock for $338,090. Journalize the entries for Whitworth Company for the purchase of the stock, the share of Aloof income, the dividends received from Aloof Company, and the sale of the Aloof Company stock. If an amount box does not require an entry, leave it blank. Jan. 2, 20Y4 - Purchase - Select - - Select - - Select - - Select - Dec. 31, 20Y4 - Income - Select - - Select - - Select - - Select - Dec. 31, 20Y4 - Dividends - Select - - Select - - Select - - Select - Jan. 31, 20Y5 - Sale - Select - - Select - - Select - - Select - - Select - - Select -On January 1, Lifestyle Pools purchased 30% of Marshall Fence’s common stock for $660,000 cash. By the end of the year, Marshall Fence reported net income of $156,000 and paid dividends of $56,000 to all shareholders.Required:For Lifestyle Pools, record the initial purchase and its share of Marshall Fence’s net income and dividends for the year.On January 4, 20Y6, Spandella Company purchased 160,000 shares of Filington Company directly from one of the founders for a price of $30 per share. Filington has 400,000 shares outstanding, including the Spandella shares. On July 2, 20Y6, Filington paid $600,000 in total dividends to its shareholders. On December 31, 20Y6, Filington reported a net income of $1,200,000 for the year. Spandella uses the equity method in accounting for its investment in Filington. a. Journalize the Spandella Inc. entries for the transactions involving its investment in Filington Company during 20Y6. 20Y6 Jan. 4 20Y6 July 2 20Y6 Dec. 31 b. Determine the December 31, 20Y6, balance of the investment in Filington Company stock account.
- Andrew Company purchased 800 ordinary shares of Valley Industries as a trading investment for P148,800. During the year, Valley Industries paid a cash dividend of P32 per share. At year-end, Valley’s shares were selling for P174 per share. In the income statement for the current year-end, what net amount of unrealized gain/loss and dividend revenue should be reported by Andrew Company?Ramiro Company purchased 40% of the outstanding stock of Marco Company on January 1. Marco reported net income of $90,300 and declared dividends of $20,600 during the year. How much would Ramiro adjust its investment in Marco Company under the equity method? of $On January 2, Todd Company acquired 40% of the outstanding stock of McGuire Company for $205,000. For the year ending December 31, McGuire earned income of $48,000 and paid dividends of $14,000. Prepare the entries for Todd Company for the purchase of the stock, share of McGuire income, and dividends received from McGuire.
