Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. gimbel owns 10,000 shares, representing 50% owners

gimbel owns 10,000 shares, representing 50% ownership of yelene. its investment accont at the beginning...

80.2K

Verified Solution

Question

Accounting

gimbel owns 10,000 shares, representing 50% ownership of yelene. its investment accont at the beginning of 2010 is at $200,000. In 2010, yelene has income of $100,000 and pays dividends of $60,000. at december 31,2010 gimbel seels 8,000 hsares to XYZ corp for $300,000

A) what is teh gain or loss to Gimbel on the sale of the shares

B) what is the balance in investment account at December 31,2010 after the sale

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: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Statistics
1.2K views

The production of a nationally marketed detergent results in certain workers receiving prolonged exposures to a...

Basic Math
1.2K views

Suppose cattle in a large herd have a mean weight of 1158lbs and a standard deviation...

Basic Math
1.2K views

Carleton Chemical claims that they can produce an average of more than 800 tons of meladone per...

Physics
1.2K views

1- Pick 3 favorite thermal engine cycles 2- Draw PV diagram for each (label each step...

General Management
1.2K views

What are the standard tools employed by the bank during its day to day material management

Geometry
1.2K views

In circle Q with the measure of arc PR 118 find m PQR R P

Basic Math
1.2K views

5 6 pts Looking at the two Box Plots below which has a larger Range...

Accounting
1.2K views

24. A _____________ it's a monthly procedure that provides additional control over cash by comparing...

Accounting
1.2K views

Exercise 23-3 Sell or process further LO P2...

Accounting
1.2K views

Please solve and explain: The...

Accounting
1.2K views

4. Calculate the projects NPV, IRR, and payback period. 5. Perform sensitivity analyses...

Accounting
1.2K views

Use the following information to determine the ending cash balance to be reported on the...