![medintiffany413](/avatars/43489.jpg)
medintiffany413
22.06.2019 •
Business
Grant, inc., acquired 30% of south co.’s voting stock for $200,000 on january 2, year 1, and did not elect the fair value option. the price equaled the carrying amount and the fair value of the interest purchased in south’s net assets. grant’s 30% interest in south gave grant the ability to exercise significant influence over south’s operating and financial policies. during year 1, south earned $80,000 and paid dividends of $50,000. south reported earnings of $100,000 for the 6 months ended june 30, year 2, and $200,000 for the year ended december 31, year 2. on july 1, year 2, grant sold half of its stock in south for $150,000 cash. south paid dividends of $60,000 on october 1, year 2. before income taxes, what amount should grant include in its year 1 income statement as a result of the investment?
Solved
Show answers
More tips
- H Health and Medicine Liver Cleansing - Rejuvenation for the Body?...
- L Leisure and Entertainment Scrapbooking: What is it and Why is it Becoming More Popular?...
- H Horoscopes, Magic, Divination How to Cast a Love Spell on a Guy? Guide for Guys...
- F Family and Home How to Sew Curtain Tapes: Best Tips from Professionals...
- S Style and Beauty How are artificial nails removed?...
- S Style and Beauty How to Make Your Lips Fuller? Ideas and Tips for Beautiful Lips...
- F Food and Cooking The Disease That Haunted Abraham Lincoln...
- C Computers and Internet How to Get Rid of Windows Genuine Check?...
- H Health and Medicine How to perform artificial respiration?...
- S Style and Beauty Tricks and Tips: How to Get Rid of Freckles...
Answers on questions: Business
- B Business QUICK Fastweb.com is a website devoted to helping students find O dual enrollment courses O scholarship opportunities O student loans O work-study programs...
- B Business Which category of the money supply would you be contributing to if you invest in money market funds?...
- H History What influenced the rise in consumer spending in the 1920s?...
- E English Describe an abandoned house? use describing words, metaphors and similes...
- H History Which of the following statements best explains the religions practiced by the settlers of new france and new england? a- settlers of new france were catholic, while...
- E English Anarrator can be an important part of narrative writing. choose another important fact about narrative writing. narrative writing is always nonfiction and must be...
- M Mathematics What is the slope? would the answer be 1/3?...
- C Chemistry Which of the following best describes repulsions? a. to push each other away b. an atom whose nucleus emits energetic particles to become a more stable atom c. to...
- H History Why did president kennedy call for a naval blockade of cuba in the fall of 1962...
- A Arts In a commercial kitchen, which fire extinguisher is recommended to put out a grease fire. question 1 options: class a class b class k class abc...
Ответ:
Explanation:
JOIN MY ZOOM MEETING
ID-9384026088
PASSWORD-1234