Madison Corporation purchased 40% of Jay Corporation for $125,000 on January 1. On June 20 of the same year, Jay Corporation declared total cash dividends of $30,000. At year-end, Jay Corporation reported net income of $150,000. The balance in Madison's Equity Method Investments-Jay Corporation account as of December 31 should be:
A. $370,000.
B. $173,000.
C. $77,000.
D. $197,000.
E. $125,000.
Answer: B
You might also like to view...
Chase Company has 10 employees, who earn a total of $1,800 in salaries each working day. They are paid on Monday for the five-day workweek ending on the previous Friday. Assume that year ended on December 31, which is a Wednesday, and all employees will be paid salaries for five full days on the following Monday. The adjusting entry needed on December 31 is:
A. Debit Salaries Expense, $9,000; credit Salaries Payable, $9,000. B. Debit Salaries Expense, $3,600; credit Salaries Payable, $3,600. C. Debit Salaries Expense, $5,400; credit Cash, $5,400. D. Debit Salaries Payable, $5,400; credit Salaries Expense, $5,400. E. Debit Salaries Expense, $5,400; credit Salaries Payable, $5,400.
On the average, the executives that Mintzberg observed had a full half hour of uninterrupted time only once every ______ day(s).
A. 4 B. 2 C. 6 D. 5
A segment of a production or service process for which management wants a separate report is referred to as a(n) ______________________________
Fill in the blank(s) with correct word
The Lucy Corporation purchased and used 129,000 board feet of lumber in production, at a total cost of $1,548,000. Original production had been budgeted for 22,000 units with a standard material quantity of 5.7 board feet per unit and a standard price of $12 per board foot. Actual production was 23,500 units. Compute the material price variance
A) 0 B) 59,400U C) 59,400F D) 6,000U