On January 1, 2013, Deuce Inc. acquired 15% of Wiz Co.'s outstanding common stock for $62,400 and categorized the investment as an available-for-sale security. Wiz earned net income of $96,000 in 2011 and paid dividends of $36,000. On January 1, 2014, Deuce bought an additional 10% of Wiz for $54,000. This second purchase gave Deuce the ability to significantly influence the decision making of Wiz. During 2014, Wiz earned $120,000 and paid $48,000 in dividends. As of December 31, 2014, Wiz reported a net book value of $468,000. For both purchases, Deuce concluded that Wiz Co.'s book values approximated fair values and attributed any excess cost to goodwill.
on deuce's december 31,2014 balance sheet, what balances was reported for the investment in Wiz coporation account?
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “On January 1, 2013, Deuce Inc. acquired 15% of Wiz Co.'s outstanding common stock for $62,400 and categorized the investment as an ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Waldron inc. is considering selling to a group of new customers that will bring in credit sales of $24,000 with a return on sales of 5%. the only new investment will be in accounts receivable.
Answers (1)
Which response core capability involves ensuring the capacity for timely communications in support of security, situational awareness, and operations by any and all means available, among and between affected communities in the impact area and all
Answers (1)
Charlie sells cookies only in packages of 10. It costs him $3.50 in materials per package. Additionally, he has overhead costs of $1,500.00 per month. In order to pay himself a monthly salary of $5,000.
Answers (1)
Permanent accounts would not include: a. Inventory b. Current liabilities c. Cost of goods sold. d. Accumulated depreciation
Answers (1)
Candace purchased a car for her company's exclusive use. the value of this car: question 4 options: is constant over time. increases with each use of the asset. decreases over time. increases over time.
Answers (1)
New Questions in Business
Q 1.2: the question "how much of our annual budget should we spend to advertise our new product line?" would most likely be asked by a
Answers (1)
If you wanted to find and display a collection of data from a table on a regular weekly basis, what method would you be most likely to use? A. A form B. A field C. A query D. A report
Answers (1)
The equation represents Jordan's overtime pay structure. Based on this equation, what is Jordan's regular hourly pay?
Answers (2)
A concurrent condition occurs when each party's performance is conditioned on the performance of the other.
Answers (1)
Transactional leadership encompasses all but one of the following. Which one? A. Goal settingB. Social interactionC. Monitoring progress toward goal achievementD. Giving feedbackE. Administering discipline
Answers (1)