answer quickly 19 Final Company has a 290.000 TL investment in Q Corporation (116,DO0 shares of the tota capital represented by200.000 shares). Q Corporation decided to increase its capital by a total of 150.000 TL Final Company made acommitment to participate in this capital increase (at its current ownership share) and paid 47.000 TL portion in cash.a) 245 Affiliated Companies account will be debited by 47.000 TLb) 242 Subsidiaries account will be debited by 87.000 TLc) 246 Capital Commitments to Affilated Companies account will be credited by 40.000 TLdi246 Capital Commitments to Affiliated Companies account will be crecited by 37.000 TLBoş birakurgent

Commitment to participate in the capital increase means to purchase the additional shares in the…

Answered: 19 Final Company has a 290,000 TL…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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What amount of income from the investment should be Problem 17-11 (AICPA Adapted) On July 1, 2021, Focus Company purchased 30,000 shares of Eagle Company's 100,000 outstanding ordinary shares for P200 per share. On December 15, 2021, Eagle Company paid P1,000,000 dividends. Eagle Company's net income for 2021 wee P5,000,000 earned evenly throughout the year. reported for the current year? a. 500,000 b. 300,000 c. 750,000 d. 150,000 518
Company A acquired 37% investment in Company B for R196 000. During the first year after acquieition Company B made net income of R400 000. Using the equity accounting method, what will happen to Company A's investment in Company B? Select one: O a. It remains the same O b. It increases by R148 000 O c Ilt decreases by R196 000 O d. It decreases by R148 000
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3. What is the carrying amount of the investment in of the outstanding ordinary shares of Free Company for P5,000,000 cash. Cyber Company accounts for this investment At the date of acquisition, Free Company's net assets had a excess of carrying amount. The land was sold during the Free Company owned land with a fair value of P1,000,000 in At the beginning of current year, Cyber Company bought 30% Problem 17-16 (IAA) by the equity method. carrying amount of P12,000,000. a current year. The remaining difference between the purchase price and ihe carrying amount of the underlying equity cannot be attributed to any identifiable tangible or intangible asset. Accordingly, the remaining difference is allocated to goodwill. Free Company reported net income of P6,000,000 and paid cash dividend of P1,500,000 during the current year. 1. What is the implied goodwill from the acquisition? a. 1,400,000 b. 1,000,000 с. 1,100,000 d. 2. What amount should be reported as investment income for the…
How much should be debited to Pre-operating Expenses account for the issuance of 2,000 shares of P10 par ordinary share capital in exchange for the services of a lawyer amounting to P30,000 for the incorporation of the company? a.) P 20,000 b.) P 30,000 c.) P 25,000 d.) P 50,000 SHOW COMPLETE SOLUTION
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Eagle Exporters purchased 80,000 of the 200,000 outstanding shares of Giant Distributors for $3,000,000. Eagle has significant influence over Giant and will account for this investment using the equity method. During the year, Giant declared dividends of $100,000 and reported Net Income of $780,000. What is the balance in the Investment in Giant account at year end? Group of answer choices $2,648,000 $3,272,000 $2,728,000 $3,352,000
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ACE Ltd has an outstanding shares of 10,000,000 shares. Kimmy Ltd purchases 100,000 shares of ACE Ltd at $4 per share. Transaction cost is $1,000. How much will the company capitalise if the investment is classified at fair value through OCI? Choose one of the following answers. 401,000 None of the above 399,000 400,000
on January 1, 20x1 entitiy A acquires 30% interest in Entity B for 600,000. Entity B reports profit of 200,000 and declares dividends of 50,000 in 20x1. How much is the carrying amount of the investment in associate on Dec31, 20x1

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