subject
Business, 12.03.2020 00:32 ilovecupcakes8459

Jackson Corporation owns 10% of the voting stock of Kettering Company and has been reporting it as an equity investment with no significant influence. At the beginning of the current year, the investment has a fair value of $40,000,000. Jackson originally purchased its 10% interest for $30,000,000. Jackson purchases an additional 25% interest in Kettering's voting stock for $120,000,000, and determines that the equity method is now appropriate. Any basis difference is attributed to goodwill. Kettering reports net income of $800,000 for the current year, and declares and pays $100,000 in dividends. The year-end fair value of Jackson's 35% interest is $170,000,000. At what amount does Jackson report the investment on its balance sheet? A. $160,245,000 B. $160,280,000 C. $170,000,000 D. $150,245,000

ansver
Answers: 2

Another question on Business

question
Business, 21.06.2019 22:10
Sarah needs to complete financial aid packets. during which school year would she do this? sophomore freshman senior junior
Answers: 2
question
Business, 22.06.2019 03:30
Used cars usually have options: higher depreciation rate than new cars lower financing costs than new cars lower insurance premiums than new cars lower maintenance costs than new cars
Answers: 1
question
Business, 22.06.2019 13:50
Diamond motor car company produces some of the most luxurious and expensive cars in the world. typically, only a single dealership is authorized to sell its cars in certain major cities. in less populous areas, diamond authorizes a single dealer for an entire state or region. the manufacturer of diamond automobiles is using a(n) distribution strategy for its product.
Answers: 2
question
Business, 22.06.2019 14:00
Wallace company provides the following data for next year: month budgeted sales january $120,000 february 108,000 march 140,000 april 147,000 the gross profit rate is 35% of sales. inventory at the end of december is $29,600 and target ending inventory levels are 10% of next month's sales, stated at cost. what is the amount of purchases budgeted for january?
Answers: 1
You know the right answer?
Jackson Corporation owns 10% of the voting stock of Kettering Company and has been reporting it as a...
Questions
question
History, 28.04.2021 19:50
question
Physics, 28.04.2021 19:50
question
Mathematics, 28.04.2021 19:50
question
Mathematics, 28.04.2021 19:50
question
Biology, 28.04.2021 19:50
Questions on the website: 13722367