On January 6, 2017, Michael Company acquired 4,000 shares (or 10%) of George Corporation's common stock at $25 per share. The securities are classified as trading securities. On October 24, 2017, George declared and paid a cash dividend of $1 per share. On December 31, 2017, the market value of George's common stock was $35 per share. George also reported a net income of $250,000 for 2017. At what value should Michael report the investment in George's common stock on its December 31, 2017 balance sheet?
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “On January 6, 2017, Michael Company acquired 4,000 shares (or 10%) of George Corporation's common stock at $25 per share. The securities ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Imagine that you are a senior executive of a large organization such as Starbucks that has geographically scattered operating units. What would NOT be on your agenda?
Answers (1)
Brandon owes his brother $120. he has a stamp collection worth $1,250 and he has $300 in a bank account. he also has a skateboard worth $95. which are brandon's assets? a. the stamp collection only b. the bank account only c.
Answers (1)
On March 1, sather co. Sold merchandise to Boone Co. on account for $30,100 terms 2/15 n/30 the cost of the merchandise sold is $19,600. The merchandise was paid for on March 14. Assume all discounts are taken. Journalize the entries for sather co.
Answers (1)
A retained earnings appropriation is a restriction of retained earnings by A. senior management. B. accountants. C. the board of directors. D. stockholders.
Answers (1)
Musashi is a 40-year-old autoworker who was laid off from his job 6 months ago. he is frustrated with his inability to find a new full-time position. last week, he took a part-time job but was given only 3 hours of work.
Answers (1)
New Questions in Business
Suppose that Karen deposits $600 into her checking account at the bank. The reserve requirement for Karen's bank is 13%. Assume the bank does not want to hold any excess reserves of new deposits. a.
Answers (1)
On December 31, Treats Catering Inc.'s trial balance shows a $1,000 balance in the Supplies account. However, a physical count of the supplies determined that only $350 of supplies actually remain in the supply cabinet.
Answers (1)
What is one way a company can work to build relationships with it's customers?
Answers (1)
We have a separate country known as Lezette-ville. The GDP per capita in 2010 was $18,000 in 2010 dollars. While in 2018, the GDP per capita was $20,725 in 2018 dollars. The CPI in 2010 is 218 while the CPI in 2018 is 251.
Answers (1)
You are a monopolist that sells textbooks to undergraduate students. Currently you sell 100 books at a price of $100 each, for revenue of $10,000. Each book is essentially costless to print, so you ignore costs and focus on maximizing revenue.
Answers (1)