Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. on january 1,2022, halstead, inc., purchased 75,00

On January 1,2022, Halstead, Inc., purchased 75,000 shares of Sedgwick Company common stock...

90.2K

Verified Solution

Question

Accounting

On January 1,2022, Halstead, Inc., purchased 75,000 shares of Sedgwick Company common stock for $1,480,000, giving Halstead 25 percent ownership and the ability to apply significant influence over Sedgwick. Any excess of cost over book value acquired was attributed solely to goodwill.
Sedgwick reports net income and dividends as follows. These amounts are assumed to have occurred evenly throughout these years. Dividends are declared and paid in the same period.
\table[[,Net Income,\table[[Annual],[Cash Dividends],[(paid quarterly)]]],[2022,$340,000,$120,000
image

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

Biology
1.2K views

Ketone bodies are synthesized from acety-CoA only when carbohydrates are not available. Why is this the...

Medical Sciences
1.2K views

Define the terms 47.   The United Nations 48.   The European Union 49.   Cosmopolitanism 50.   Schengen area 51.   Eurozone 52.   International treaty 53.  ...

Psychology
1.2K views

what is ADHD problem? and how can we behave with people specially kids who have ADHD?...

Operations Management
1.2K views

Celeb café wanted to change some of its furniture. The manager, Macy, contracted Trend Furniture to...

General Management
1.2K views

Explain the main advantages and disadvantages of the ethnocentric, polycentric and geocentric approaches to staffing policy. When...

Geometry
1.2K views

Solve the triangle with the given measures:(a) a = 3.4in, b = 2.6in, and C...

Basic Math
1.2K views

Use trigonometric identities and algebraic methods as necessary to solve the following trigonometric equation Please...

Statistics
1.2K views

20 Which of the following hypothesis tests automatically include blocking as part of the design...

Algebra
1.2K views

V of 10 Step 1 of 1 The right triangle with hypotenuse of length Question...

Algebra
1.2K views

3 Find the coordinate vector of w 0 1 relative to the basis S 1...

Algebra
1.2K views

1 c Evaluate if x 2

Accounting
1.2K views

Suppose someone offered you the choice of to equally faky annutes, each paving $10,000 per...