net reduction in retained earning

Q: 6. On November 1, 2011, Ribbon Company invested in P600,000 in equity securities representing 20,000…

A: Realized gain is the value of the gain which is computed by deducting the cost from the sale value.…

Q: During the year 2018 Nestle sold 3,000 shares of LJ, Inc. for P119,700 and 500 shares of Dwarfy…

A: Carrying amount of 3000 shares of LJ Inc = P 180,000 Sale Consideration of 3000 shares of LJ Inc = P…

Q: On January 1, 2017, Fisher Corporation purchased 40 percent (80,000 shares) of the common stock of…

A: A journal entry is used to record day-to-day transactions of the business by debiting and crediting…

Q: Mike Ltd purchased the outstanding voting shares of Sam Ltd at the beginning of 2009 for $387,000.…

A: Acquisition refers to the acquisition of common shares and voting rights in one company by another…

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A: Formula: Total dividends = Dividend per share x Total number of shares outstanding.

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A: Note: Since you have posted a question with multiple sub-parts, we will solve first three subparts…

Q: Daron Co. purchased 20.000 shares of Herkul Co on 2 April 2018. Share price of Herkul Co. was 6 $.…

A: Journal:   It is the first step of recording financial transactions. It is used to prepare the…

Q: The nswer for this entry keeps showing as wrong. I am not sure where I am going wrong.

A: Entry C1: To record the adjustment for the subsidiary stock transaction:Explanation:…

Q: The amount that was recorded as a realized gain or loss was

A: Realized gain occurs when an asset is sold at a higher price than the price at which the asset was…

Q: purchased another 300 shares of Semi-Tech for $7,200 and s of the following ways will the loss on…

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A: Journal entries are items of writing where you keep track of your thoughts and emotions on a certain…

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A: The cost of investment includes the cash transferred, Fair value of assets transferred, fair value…

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A: In the preparation of consolidated financial statements, all inter-company (within the group)…

Q: Pierson Corporation owned 10,000 shares of Hunter Corporation. These shares were purchased in 2011…

A: Retained earnings represent the portion of a company's net income that has not been distributed to…

Q: Bridgeport Corporation owned 15400 shares of Harper Corporation's $5 par value common stock. These…

A: Dividend -A dividend is a specific sum that is distributed to a company's or mutual fund's…

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A: Consolidated financial statements are prepared when a company acquired more than 50% stocks of…

Q: On May 1, 2022, ABC and DEF each acquired 40% of the ordinary shares of XYZ that carry voting rights…

A: The carrying value of an investment, also known as the book value or carrying amount, is the value…

Q: Prepare Journal Entry for the transactions above

A: Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: On October 15, 2020, the Skyline Company received a liquidating dividend of P100,000 from David…

A: Formula: Dividend income = Total liquidating dividend x Ownership Percentage in the company.

Q: During 2024, R2D2 Company purchased 10,000 shares of Goliath, Inc. for $30 per share and classified…

A: Unrealized profit and loss means The value of an investment that has not yet been sold or realized…

Q: Twilight Co. paid $2,800,000 to acquire all of the common stock of Aurna Corp. on January 1, 2022.…

A: In the preparation of consolidated financial statements, all inter-company (within the group)…

Q: Haynes, Inc., obtained 100 percent of Turner Company’s common stock on January 1, 2017, by issuing…

A: Retained earning is the amount kept by the company for the future growth purpose.

Q: Berry’s Concrete acquired 25% of the outstanding common stock of Blakeley, Inc. on January 1, 2010,…

A: Under the cost method of investment, the investment is reported in the balance sheet at the…

Q: On December 31, 2014, how much should MARIE CORP. carry its investment in CURIE INC.?

A: In case of equity method, the purchase value of investment would be adjusted for share in equity for…

Q: n January 3, 2023, Sheppard Corporation purchased 25% of Meredith Corporation's common stock for…

A: The objective of the question is to calculate the balance in the investment account of Sheppard…

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A: Answer: To calculate the gain and net reduction in retained earnings resulting from the property…

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A: The possibility for financial gains is one of the main justifications for investing in another…

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A: Intra-entity transfers refer to the movement of assets or liabilities between different entities…

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A: Journal entries are the transactions which are reported in the books of accounts primarily. It is…

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A: Investment in  shares can be accounted as per fvpl or fvocl

Q: Choose the correct answer: Westlife Company acquired on July 1, 2020, 30,000 ordinary shares of…

A: Dividend income is paid by company to its shareholders. Dividend income is considered income for the…

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A: A journal entry is a process in the accounting system that allows the company to record the…

Q: . Berry's Concrete acquired 25% of the outstanding common stock of Blakeley, Inc. on January 1,…

A: Journal entry is a primary entry that records the financial transactions initially.

Q: On January 1, 2011, The Miller Corporation purchased 300,000 shares of The Mayfair Corporation for…

A: Compute the book value of Miler's investment in Mayfair as of Dec. 31, 2011 as follows: Particular…

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A: Income statement is a financial statement that shows you the company's income and expenditures. It…

Q: On January 1, 2016, Ritter Company bought 10% of the outstanding ordinary shares of Bear…

A:

Q: 00 in 2017. 70 shares for $2,250 in 2018. 80 shares for $2,675 in 2019. They sold 160 shares of…

A: Answer :The basis used in the sale of share is FIFO basis. In FIFO method it is assumed that first…

Q: SRK Services acquired 30% of the outstanding common stock of KRK Company on January 1, 2010, by…

A: SRK Services acquired 30% of the outstanding common stock of KRK Company on January 1, 2010, by…

Q: During 2012 Logic Company purchased 4,000 shares of Midi, Inc. for P30 per share. The investment was…

A: In this question, Logic company has purchased 4000 shares at P30/share of Midi Inc during 2012 out…

Q: Required: 1. Calculate Pearl's income from Sandlin for 2010. 2. Determine the balance of Pearl's…

A: Below are the required answers

Q: What amount should Fisher report as its Investment in Steel on its December 31, 2015, balance sheet?…

A: Investments:   Companies invest in stocks and bonds of other companies or governmental entity to…

Q: On January 1, 2021, PARKSOOYOUNG acquired all the outstanding shares of SUNGJAE for P600,000. The…

A: An asset refers to the resources that are generally used for generating the cash flows that help in…

Q: The following information relates to Crip Crippy Investment of HIJ Corporation. (1). Purchase…

A: The equity method does not record dividends as income but rather as a return on investment and…

Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.