Cashen Co. paid $2,400,000 to acquire all of the common stock of Janex Corp. on January 1,
Question:
1. On the consolidated financial statements, what amount should have been shown for Equity in Subsidiary Earnings?
A. $432,000
B. $-0-
C. $408,000
D. $120,000
E. $312,000
2. On the consolidated financial statements, what amount should have been shown for consolidated dividends?
A. $900,000
B. $1,020,000
C. $876,000
D. $996,000
E. $948,000
3. What is the amount of consolidated net income?
A. $3,180,000
B. $3,612,000
C. $3,300,000
D. $3,588,000
E. $3,420,000
Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...
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Related Book For
Modern Advanced Accounting In Canada
ISBN: 9781259066481
7th Edition
Authors: Hilton Murray, Herauf Darrell
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