Aykroyd Corp. was a 30% owner of Martin Company, holding 210,000 shares of Martin's common stock on December 31, 2019. The investment account had the following entries. Investment in Martin 1/1/18 Cost $3,180,000 12/6/18 Dividend received $150,000 12/31/18 Share of income 390,000 12/5/19 Dividend received 240,000 12/31/19 Share of income 510,000     On January 2, 2020, Aykroyd sold 126,000 shares of Martin for $3,440,000, thereby losing its significant influence. During the year 2020, Martin experienced the following results of operations and paid the following dividends to Aykroyd.   Martin Income (Loss) Dividends Paid to Aykroyd 2020 $300,000 $50,400 At December 31, 2020, the fair value of Martin shares held by Aykroyd is $1,570,000. This is the first reporting date since the January 2 sale. Instructions a.    What effect does the January 2, 2020, transaction have upon Aykroyd's accounting treatment for its investment in Martin? b.    Compute the carrying amount of the investment in Martin as of December 31, 2020 (prior to any fair value adjustment). c.    Prepare the adjusting entry on December 31, 2020, applying the fair value method to Aykroyd's long-term investment in Martin Company securities.

Q1: How much is the investment income on 2021? Q2: How much is the carrying amount of the Investment in Associate as of December 31, 2021?

. Journal entries using the Cost and Equity Method of accounting for the   for the following transtation : On 1/2/18 the Xylo Corp. purchased 8000 shares of ABC Co. Common Stock At $20 per share. ABC Co. has 40000 shares of  Common Stock outstanding.   On 10/31/18 Xylo Corp. received a $1.50 per share dividend from ABC Co. On 12/30/18 ABC Company announced earnings of for the year at $200000.    Prepare the calculations and Journal Entries, in good form, if the      Investment is classified as Available for sale Part A. The Cost Method.    Part B The Equity Method of accounting is applicable.

H1.

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Tiger Ltd. has an authorized capital of 700,000 $1 ordinary shares, of which 300,000 have been issued as fully paid. The following information was extracted from the accounts for the year ended September 30, 2019: Details/Accts.  $ DR  $ CR Motor Vehicle at cost        1,750,000   Acc. Depreciation Motor Vehicle              450,000 Freehold premises at cost            400,000   Carriage inwards              35,500   Sales          4,500,000 Stock, October 1, 2018              95,000   Administration (Wages and Salaries)            170,000   Distribution (Wages and Salaries)            250,000   Motor vehicle running costs            350,000   Purchases            935,000   Returns inward              32,000   Returns outward                51,000 Directors’ remuneration            865,000   Auditors’ fees            120,000   General administrative expenses…

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Hh1.

Pagle Corporation holds 80 percent of Standard Company's common shares. The companies report the following balance sheet data for December 31, 20X1: Assets Cash Accounts Receivable Inventory Buildings and Equipment Less: Accumulated Depreciation Investment in Standard Company Stock Total Assets Liabilities and Owners' Equity Accounts Payable Taxes Payable Preferred Stock ($10 par value) Common Stock: $10 par value $5 par value Retained Earnings Total Liabilities and Owners' Equity Pagle Corporation $ 53,000 85,000 126,000 700,000 (295,000) 160,000 $ 829,000 Basic earnings per share Diluted earnings per share $ 120,000 79,000 200,000 100,000 330,000 $ 829,000 Required: Compute basic and diluted EPS for the consolidated entity for 20X1. Note: Round your answers to 2 decimal places. Standard Company $ 43,000 65,000 76,000 330,000 (130,000) $ 384,000 $ 84,000 100,000 An 8 percent annual dividend is paid on the Pagle preferred stock and a 12 percent dividend is paid on the Standard…

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