Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. p co purchased 90% of s co common stock at its boo

P Co purchased 90% of S Co common stock at its book value of $200,000...

90.2K

Verified Solution

Question

Accounting

P Co purchased 90% of S Co common stock at its book value of $200,000 on 1/1/2020.During 2020,S reported net income of $65,000 and paid dividends of $20,000.by using equity methods At what amount should P co reported the Investment in S account on 31/12/ 2020?

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

73.) A patient suffering from diabetic acidosis would display which of the following symptoms? Decreased H+ secretion...

Medical Sciences
Q

Let an denote the number of different ways to color the walls of a five-sided room...

Advance Math
Q

A typical Chinese restaurant will often feature a Special Dinner, in which the customer has...

Basic Math
Q

Here is a scatter plot for a set of bivariate data O O 8 c...

Statistics
Q

Your first summer month's transactions are listed below. Answer the question that follows each one....

Accounting
Q

Sheffield Department Store uses a perpetual inventory system. Data for product E2-D2 include the following...

Accounting
Q

Instructions Using the activities listed above, identify for each activity one or more cost drivers...

Accounting
Q

Schmid Corporation issues $550,000, 11%, 5year bonds on January 1, 2023 for $509,000. Interest is...

Accounting
Q

What is the relationship between tax base and tax rate in determining the revenue collected...

Accounting
Q

QUESTION TWO A company is in the process of evaluating a project to be considered...

Accounting
Q

What options does a group of people have when forming a business? Why might a...

Accounting
Q

Shelly Beaman (social security number 412-34-5670) is single and resides at 540 Front Street, Ashland,...

Accounting