Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. evan company reports net income of $184,000 each y

Evan Company reports net income of $184,000 each year and declares an annual cash dividend...

80.2K

Verified Solution

Question

Accounting

Evan Company reports net income of $184,000 each year and declares an annual cash dividend of $60,000. The company holds net assets of $2,150,000 on January 1, 2017. On that date, Shalina purchases 40 percent of Evan's outstanding common stock for $999,000, which gives it the ability to significantly influence Evan. At the purchase date, the excess of Shalinas cost over its proportionate share of Evans book value was assigned to goodwill. On December 31, 2019, what is the Investment in Evan Company balance (equity method) in Shalinas financial records?

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

Q

Is the environment a major issue with Americans? To answer that question, a researcher conducts a...

Statistics
Q

Building Your Skills Case [LO8-2, LO8-4, LO8-8, LO8-9, LO8-10] You have just been hired as a...

Accounting
Q

Exercise 13 2 Calculate the probability that in the example of Rutherford scattering just given...

Physics
Q

On the back of most credit cards is a three-digit Card Verification Code (CVC). If...

Basic Math
Q

need a help in this exercise 3. Bill Braddock is considering opening...

Accounting
Q

amie is single. In 2022, she reported $117,000 of taxable income, including a long-term capital...

Accounting
Q

Cash and Noncash Share Issuances Chavoy Corporation was organized on July 1. The company's charter...

Accounting
Q

Current Position Analysis The following items are reported on a company's balance sheet: \table[[Cash,$456,800

Accounting
Q

You have found three investment choices for a one-year deposit: 10.1% APR compounded monthly, 10.1%...

Finance
Q

Galvatron Metals has a bond outstanding with a coupon rate of 6.1 percent and semiannual...

Finance
Q

1. Richard Stokes borrows $75,000 to buy new equipment for his factory. Its a 3...

Finance
Q

Teri Inc has the following differences between book and tax basis of its assets an...

Accounting