Jackson Moving & Storage Co. paid $160,000 for 25% of the common stock of Sellers Co. Sellers earned a net income of $50,000 and paid dividends of $35,000. The carrying value of Jackson's investment in Sellers is: A. $163,750 B. $210,000 C. $175,000 D. $160,000

Josie Corporation reported the following information for 2022. Sales revenue $1000,000 Cost of goods sold 700,000 Operating expenses 110,000 Unrealized holding gain on available-for-sale securities 40,000 Cash dividends received on the securities 4,000 For 2022, Josie would report comprehensive income of O $194,000. O $230,000. O $234,000. O $40,000.

Fairbanks Corporation purchased 400 ordinary shares of Sherman Inc. as a trading investment for E13,200. During the year, Sherman paid a cash dividend of £3.25 per share. At year-end, Sherman shares were selling for £34.50 per share. How much total revenues (all revenues) should be recognized from this investment during the year? Select one: Oa. $1900 Ob. $700 OC $1300 Od. $600

During 20X5, X co. had the following income and expenses:                     Gross income from operations                                            $3,000,000                   Business expenses                                                            <1,400,000>                   Dividends received from Y co. (32% owned by X co.)            400,000                   Capital gains                                                                            150,000                   Capital loss carry forward                                                   <183,000>                   Net operating loss carry forward                                          <25,000>               a.   Determine X co.’s dividends received deduction in 20X5?             b.   Determine X co.’s dividends received deduction in 20X5 assuming that there was no NOL carry forward and X co.’s business expenses were:                   (i) $3,050,000 or (ii) $3,200,000

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Question: Parent Co. invested $1,070,000 in Sub Co. for 25% of its outstanding stock. Sub Co. pays out 40% of net income in dividends each year. Use the information in the following T- account for the investment in Sub to answer the following questions. Investment in Sub Co. 1,070,000 130,000 52,000 (a) How much was Parent Co.'s share of Sub Co.'s net income for the year? (b) How much was Parent Co.'s share of Sub Co.'s dividends for the year? (c) What was Sub Co.'s total net income for the year? (d) What was Sub Co.'s total dividends for the year?

3.During 20X6, X co. had the following income and expenses: Gross income from operations $1,000,000 Business expenses <400,000> Dividends received from Y co. (32% owned by X co.) 200,000 Capital gains 50,000 Capital loss carry forward <65,000> Net operating loss carry forward 100,000 a. Determine X co.’s dividends received deduction in 20X6? b. Determine X co.’s dividends received deduction in 20X6 assuming that there was no NOL carry forward and X co.’s business expenses were:(i) $1,030,000 or (ii) $1,100,000.

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ne profit. A&B Co. started operations on April 1, 20x1. Mr. A, a partner in A&B Co., is entitled to 6% interest on the weighted average balance of his capital account. Mr. A's ledger shows the following: A, Capital Ref. Date Debit Credit Balance 100,000.00 79,000.00 87,000.00 001 100,000.00 April 1, 20x1 June 30, 20x1 September 30, 20x1 December 1, 20x1 (98 21,000.00 146 8,000.00 211 4,000.00 83,000.00 Requirement: Compute for the interest on Mr. A's weighted average capital balance.

6. Assad Corporation repurchases 10,000 of its shares for $12 per share. The shares were originally issued at an average price of $10 per share. How much gain or loss should Assad report on its statement of comprehensive income as a result of this transaction? a.$0 b.$20,000 loss c.$100,000 gain d.$20,000 loss and $100,000 gain