Milner Corporation owns 25 percent of the voting stock of Vaglia Corporation and accounts for the investment using the equity method. Vaglia reports a net loss of $10,000 . Milner Corporation's entry to record its share of loss is:
a. Cash 2,500
Investment in Vagila Corporation 2,500
b. Loss on Investments 10,000
Investment in Vagila Corporation 10,000
c. Loss,Vagila Corporation Investment 2,500
Investment in Vagila Corporation 2,500
d. Cash 2,500
Loss,Vagila Corporation Investment 2,500
C
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Eye Tracking Inc., which specializes in eye movement research, would be considered a specialized research technique firm
Indicate whether the statement is true or false
Graphics can be added to business reports to clarify data, create visual interest, and make numerical data meaningful. List five categories of graphics and explain the type of data each is used to illustrate. Then give an original example of when each could be used
Clarksen Company uses a process costing system. The company requisitioned $93,000 of materials for Department A and $67,000 of materials for Department D. The entry to record the use of the direct materials by these two departments is:
A. Debit Work in Process Inventory-Dept. A $93,000; debit Work in Process Inventory-Dept. D $67,000; credit Raw Materials Inventory $160,000. B. Debit Raw Materials Inventory-Dept. A $93,000; debit Raw Materials Inventory-Dept. D $67,000; credit Work in Process Inventory $160,000. C. Debit Raw Materials Inventory $160,000; credit Accounts Payable $160,000. D. Debit Factory overhead $160,000; credit Raw Materials Inventory $160,000. E. Debit Work in Process Inventory-Dept. A $93,000; debit Work in Process Inventory-Dept. D $67,000; credit Accounts Payable $160,000.
Each December 31, Kimura Company ages its accounts receivable to determine the amount of its adjustment for bad debts. At the end of the current year, management estimated that $16,900 of the accounts receivable balances would be uncollectible. The Allowance for Doubtful Accounts account had a debit balance of $1,200 before any year-end adjustment for bad debts. Prepare the adjusting journal entry that Kimura Company should make on December 31, of the current year, to estimate bad debts expense.
What will be an ideal response?