Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. a company pays $600,000 for 35% of the common stoc

A company pays $600,000 for 35% of the common stock of X, Inc. In the...

90.2K

Verified Solution

Question

Accounting

A company pays $600,000 for 35% of the common stock of X, Inc. In the first year, X, Inc. reports net income of $140,000 and pays a cash dividend of $65,000. The balance in Stock Investments-X, at year end under the equity method is:

Select one:

a. $626,700.

b. $622,500.

c. $626,750.

d. $675,000.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

individuals may choose to evaluate a large Canadian organization and ‘develop a strategic analysis of its organizational culture’. The...

General Management
Q

Banyan Co.’s common stock currently sells for $48.50 per share. The growth rate is a constant...

Finance
Q

Being right-handed is an autosomal dominant trait over being left-handed. Hitchhikerthumb is dominant over straight...

Biology
Q

154 1 The displacements of the particle from the extreme position when its kinetic energy...

Physics
Q

Plot the intercepts to graph the equation 2x 3y 6 Use the graphing tool to...

Basic Math
Q

Determine and classify the discontinuities, if any, of m.m(x) =6x/(7x-x^2)State the removable discontinuities, if any,...

Basic Math
Q

Use linear approximation i e the tangent line to approximate 16 1 as follows Let...

Calculus
Q

36 Simplify completely 2 3 7 2 O 2 3 7 O 3 7 O...

Algebra
Q

The logistic growth model H(t) =5,0001+3e -0.72twhat year did 4,808 families own a home?In what...

Algebra
Q

Sunland Corporation issued $450,000 of 7% bonds on November 1,2025, for $478,264. The bonds were...

Accounting
Q

Question almost completely answered... need help on blanks and red highlighted areas. Complete...

Accounting
Q

[The following information applies to the questions displayed below.] What book-tax differences in...

Accounting