39) Pall, Inc, owns 40% of the outstanding stock of Sibil Company. During 2017, Pallreceived a $4,000 cash dividend from Sibil. What effect did this dividend have on Pall's 2017financial statements?a) Increased total assets.b) Decreased total assets.c) Increased income.d) Decreased investment account.

Balance sheet represents the financial position of the company that involve the assets, liabilities,…

Answered: 39) Pall, Inc, owns 40% of the…

Business

Accounting

39) Pall, Inc, owns 40% of the outstanding stocs received a $4,000 cash dividend from Sibil. WE financial statements?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: D

A: The objective of the question is to determine the percentage of shares purchased by Metaphor…

Q: em 3 aurnalize the following transactions: cash at $12 per share. Journal entry: Journal entry: 3.…

A: Issue of Shares: Shares that have been issued are those that the owners have elected to sell in…

Q: A2) Hello! I need urgent help with the following accounting question: 1. Cullumber Cosmetics…

A: Purchasing and holding stocks or shares in a company entitles a person or organization to a portion…

Q: am. 102.

A: The objective of the question is to understand how the issuance of common stock affects the…

Q: Longhorn Company reports current E&P of $200,000 in 20x3 and accumulated E&P at the beginning of the…

A: Accumulated E&P at beginning = -$400,000 Current E&P = $200,000

Q: Gaines Corporation invested $124,000 to acquire 21,000 shares of Owens Technologies, Inc. on March…

A: Lets understand the basics. When entity holds less than the 20% of the ownership of the invested…

Q: Gross income from operations $1,000,000 Business expenses Dividends received from Y co. (32% owned…

A: a. X co.’s dividends received deduction in 20X6: Dividend received = $200,000 * 32% = $64,000

Q: The DEF Corp has $3,000 of accumulated E&P and $18,000 of current E&P. It distributed $5,000 on…

A: Dividend refers to the amount which is equal to the sum of the current as well as cumulative…

Q: A company paid a dividend of $ 173 million to the shareholders and bought the shares back for $ 64…

A: Formulas: Free cash flows = Dividend paid + Stock repurchase - Cash received Free cash flows = $173…

Q: a. A building with a book value of $415,000 was sold for $515,000. b. Additional common stock was…

A: Cash Flow Statement:— It is one of the financial statements that show changes in cash and cash…

Q: Merry Corp. holds stock in Bright, Inc. This year, Merry Corp. receives a cash dividend of $500 from…

A: Dividend received are generally reported in operating activities. Dividend paid are reported in…

Q: On January 1, Wildhorse Corporation purchased a 25% equity investment in Shane Corporation for…

A: Cash dividends are payments made by a company to its shareholders in the form of cash. These…

Q: f. Purchased 7,500 shares of Solstice Corp. at $40 per share plus a $150 brokerage commission. The…

A: The transactions are given. Required Journal Entries

Q: 2) JAE Corp.'s transactions for the year ended December 31, 20X8 included the fo • Purchased real…

A: particulars amount purchased Real estate $1,250,000 less : available for sale securities…

Q: Define what a Dividend Payout ratio is. Define what a retention ratio is. Calculate the dividend…

A: Solution:- Dividend Pay-out ratio:- Dividend pay-out measures the percentage of net income that is…

Q: Ma1. Investor owns 10% of Investee shares and has the ability to exert significant influence. In…

A: The cash flow direct method determines changes in cash receipts and payments, which are reported in…

Q: If Superior Paint Company reports $50 million in retained earnings, can it declare a dividend of the…

A: Retained Earnings (RE) refers to the amount of net income earned by the company, which is generally…

Q: Lace Company provided the following information during PROBLEMS Problem 10-1 (AICPA Adapted) the…

A: The cash flow statement is prepared to record the cash flow from various activities during the…

Q: Thunder Inc. (a C corporation) has invested in the stock of several other corporations. In the…

A: Certain corporations that receive dividends from related organizations in the US are eligible for a…

Q: 2- Gator plc invested £1,000,000 in Demo Co. for 25% of its outstanding shares. Demo Co. pays out…

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: During the current year, Sea Corp reported gross income from operations of $100,000 and operating…

A: A situation in which a company's permitted tax deductions exceed its taxable revenue within a…

Q: how much is the total Shareholders equity after the business combinition

A: Shareholder's equity refers to the difference between the total asset and the total liability of the…

Q: (d) A company has current assets of $608,000 and current liabilities of $245,000. The board of…

A: The current ratio measures the organization's ability to meet the short-term liabilities due within…

Q: A. B and Cwere partmers in a firm sharing profits and losses acconding to their Capital On" April…

A: The retirement of a partner signifies that the partner is leaving the partnership company for a…

Q: LL R You are considering a stock investment in one of two firms (LotsofDebt, Inc. and LotsofEquity,…

A: Debt Ratio is calculated as total debt divided by the total assets. Equity multiplier is calculated…

Q: 1. ST Corporation has a total shareholders' equity of P1,000,000, including retained earnings of…

A: Dividend: A dividend is a payment made by a company to its stockholders. When a company makes a…

Q: A company was able to acquire a building, with a market value of Ro 8 million, by issuing four…

A: Common stock can be issued in exchange for assets such as land, buildings, or equipment, etc. These…

Q: The Dawg corporation owns 16% of Company A and 25% of Company B. Dividends received from Company A…

A: The Dividends Received Deduction, or DRD, is a tax deduction that C corporations receive on the…

Q: In Mazaya Company, Treasury Shares (company purchase its own shares) increased R.O.30,000 from a…

A: Statement of cash flows Cash flow from financing activities: Purchase of Treasury…

Q: effect of Small's reported income on Largo Company's investment

A: The investor firm records the revenue received by the other company on its income statement in an…

Q: A. What amount should be reported as basic earnings per share? B. What amount should be reported as…

A: Given, Net income is P11,000,000 Outstanding shares issued on Jan 2 is 1,500,000 On Jan 3 entered…

Q: company owns 40% of S Corporation and During the year S had net income of 200000 and paid dividends…

A: % owned by company P = 40% Net income of S = 200,000 Dividends paid by S = 50,000

Q: amount of Dividends declared during the current period?

Q: Tax rate Dividend payout rate Calculate: i. Net income ii. Dividends iii. (Retained earnings 30% 45%

A: Comprehensive income: It implies to an overall change or variation in the company's equity for a…

Q: 3) Howard Co. declared and paid a $1.50 per share cash dividend on the 20,000 shares of its common…

A: Net Income Operating Investing Financing D NA NA D CASH FLOW ACTIVITIES

Q: Given the information below for ATH Corp., what was the amount of Dividends declared during the…

A: Amount of Dividends declared during the current period = Beginning Retained Earnings + Net Income -…

Q: of 2. The records of Alamo Corporation showed the following data: Ordinary Share Capital, par P100,…

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: Blanco Co. received dividends from its common stock investments during the year ended December 31 as…

A: Dividend is a portion of a company's profit. Which is paid to shareholders of the company based on…

Q: 15. The income statement of Osborne Company reported net income of $500,000 for the year ended…

A: Answer:- Retained earnings meaning:- The amount of profit a business keeps after paying all of its…

Q: Parkin Corporation created Sunlight Corporation with a transfer of $800 cash. During Sunlight…

A: Journal entry is a primary entry that records the financial transactions initially. The transactions…

Question

39) Pall, Inc, owns 40% of the outstanding stock of Sibil Company. During 2017, Pall
received a $4,000 cash dividend from Sibil. What effect did this dividend have on Pall's 2017
financial statements?
a) Increased total assets.
b) Decreased total assets.
c) Increased income.
d) Decreased investment account.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

Please help me with calculation
Janus Company had the following journal entry: Debit Credit Cash $30,000 Common Stock $30,000 From this entry, we can determine that Janus: a Purchased $30,000 of another company’s common stock b Repurchased $30,000 of their own common stock. c Issued $30,000 of their own common stock d urchased $30,000 of Investments.
Please show the proper solution in a good accounting form.
B. Multiple Choice with Computation 1. Ribbon Company provided the following information during the current year: Dividend received 500,000 Dividend paid 1,000,000 Cash received from customers 9,000,000 Proceeds from issuing share capital 1,500,000 Interest received 200,000 Proceeds from sale of long term investments 2,000,000 Cash paid to suppliers and employees 6,000,000 Interest paid on long tem debt 400,000 Income taxes paid 300,000 Cash balance January 1 1,800,000 1a. What is the net cash provided by operating activities? a. 3,000,000 b. 3,300,000 c. 2,700,000 d. 2,000,000 1b. What is the net cash provided by investing activities? a. 2,500,000 b. 2,000,000 c. 2,200,000 d. -0- 1c.. What is the net cash provided by financing activities? a. 1,500,000 b. 1,000,000 c. 500,000 d. -0- 1d. What is the cash balance on December 31? a. 6,300,000 b. 5,500,000 c. 4,800,000 d. 7,300,000
H2.
If the preference shares are cumulative and fully participating, how much is the dividends to be allocated to ordinary shareholders? 2.If the preference shares of OTSO CORP are cumulative and participating only up to 15%, how much is the dividends to be allocated to ordinary shareholders?
Received $17000 cash investment from the business owners and distributed 1000 shares of common stock to them with a market price of $17 per share? which accounts are affected in this transactions?
M.18.
1.) Abracada owns 90% interest of Deli Co. The following information are provided below: Deli Co Abracada Co Sales 2,000,000 5,400,000 Cost of goods sold (800,000) (2,700,000) Gross profit 1,200,000 2,700,000 Operating expenses (800,000) (500,000) Dividend Income 20,000 Net Income 400,000 2,240,000 Abracada Co. sold goods to Deli Co. for 60,000, 20% of these goods were sold for the year. Abracada also sold goods to Abracada Co. for 100,000, 20% of these goods were unsold at the end of the year. The ending inventory for Abracada Co is 240,000 and 100,000 for Deli Co. Compute for the non-controlling interest in Net Income.
A corporation using the equity method of accounting for its investment in a 80%–owned investee, which earned $20,000 and paid $5,000 in dividends What is the ending balance of investment on 31/12 if investment in 1/1 amount 100,000$ ? Select one: a. 112,000 b. 115,000 c. 120,000 d. 100,00
Please help me
XYZ Corporation had the following balance sheet information: Total assets: $500,000Total liabilities: $200,000Shareholders' equity: $300,000If XYZ Corporation has 50,000 shares outstanding, what is the book value per share?