Business, 03.03.2020 03:00 jsndbdbsbsj

On January 1, 2017, QuickPort Company acquired 90 percent of the outstanding voting stock of NetSpeed, Inc., for $927,000 in cash and stock options. At the acquisition date, NetSpeed had a common stock of $970,000 and Retained Earnings of $48,500. The acquisition-date fair value of the 10 percent noncontrolling interest was $103,000. QuickPort attributed the $11,500 excess of NetSpeed's fair value over book value to a database with a five-year remaining life.
During the next two years, NetSpeed reported the following:

Income Dividends
2017 $80,000 $8,000
2018 115,000 8,000

On July 1, 2017, QuickPort sold communication equipment to NetSpeed for $42,000. The equipment originally cost $48,000 and had accumulated depreciation of $9,000 and an estimated remaining life of three years at the date of the intra-entity transfer.
Compute the equity method balance in QuickPort's Investment in NetSpeed, Inc., account as of December 31, 2017.

Answers: 2

Show answers

Another question on Business

Business, 22.06.2019 14:30

What’s the present value of a perpetuity that pays $250 per year if the appropriate interest rate is 5%? $4,750 $5,000 $5,250 $5,513 $5,788what is the present value of the following cash flow stream at a rate of 8.0%, rounded to the nearest dollar? cash flows: today (t = 0) it is $750, after one year (t = 1) it is $2,450, at t = 2 it is $3,175, and at t=3 it is $4,400. draw a time line. $7,917 $8,333 $8,772 $9,233 $9,695

Answers: 2

Answer

Business, 22.06.2019 19:00

Andy purchases only two goods, apples (a) and kumquats (k). he has an income of $125 and can buy apples at $5 per pound and kumquats at $5 per pound. his utility function is u(a, k) = 6a + 2k. what is his marginal utility for apples and his marginal utility for kumquats? andy's marginal utility for apples (mu subscript a) is mu subscript aequals 6 and his marginal utility for kumquats (mu subscript k) is

Answers: 2

Answer

Business, 22.06.2019 19:10

Pam is a low-risk careful driver and fran is a high-risk aggressive driver. to reveal their driver types, an auto-insurance company a. refuses to insure high-risk drivers b. charges a higher premium to owners of newer cars than to owners of older cars c. offers policies that enable drivers to reveal their private information d. uses a pooling equilibrium e. requires drivers to categorize themselves as high-risk or low-risk on the application form

Answers: 3

Answer

Business, 22.06.2019 20:00

If a government accumulates chronic budget deficits over time, what's one possible result? a. a collective action problem b. a debt crisis c. regulatory capture d. an unfunded liability

Answers: 2

Answer

You know the right answer?

On January 1, 2017, QuickPort Company acquired 90 percent of the outstanding voting stock of NetSpee...

Questions