Diamond Company owns 80 percent of Emerald and Emerald owns 90 percent of Sapphire, Inc. Separate operating
Question:
What is Diamond's accrual-based net income for the year?
a. $658,400 .
b. $674,400 .
c. $666,800 .
d. $645,600 .
Transcribed Image Text:
Diamond Emerald Sapphire $348,000 $228,000 $210,000 Separate operating income
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 57% (7 reviews)
d Sapphires accrualbased income Operatingincome 210000 Defer unrealized gain 50000 Sap...View the full answer
Answered By
Ashington Waweru
I am a lecturer, research writer and also a qualified financial analyst and accountant. I am qualified and articulate in many disciplines including English, Accounting, Finance, Quantitative spreadsheet analysis, Economics, and Statistics. I am an expert with sixteen years of experience in online industry-related work. I have a master's in business administration and a bachelor’s degree in education, accounting, and economics options.
I am a writer and proofreading expert with sixteen years of experience in online writing, proofreading, and text editing. I have vast knowledge and experience in writing techniques and styles such as APA, ASA, MLA, Chicago, Turabian, IEEE, and many others.
I am also an online blogger and research writer with sixteen years of writing and proofreading articles and reports. I have written many scripts and articles for blogs, and I also specialize in search engine
I have sixteen years of experience in Excel data entry, Excel data analysis, R-studio quantitative analysis, SPSS quantitative analysis, research writing, and proofreading articles and reports. I will deliver the highest quality online and offline Excel, R, SPSS, and other spreadsheet solutions within your operational deadlines. I have also compiled many original Excel quantitative and text spreadsheets which solve client’s problems in my research writing career.
I have extensive enterprise resource planning accounting, financial modeling, financial reporting, and company analysis: customer relationship management, enterprise resource planning, financial accounting projects, and corporate finance.
I am articulate in psychology, engineering, nursing, counseling, project management, accounting, finance, quantitative spreadsheet analysis, statistical and economic analysis, among many other industry fields and academic disciplines. I work to solve problems and provide accurate and credible solutions and research reports in all industries in the global economy.
I have taught and conducted masters and Ph.D. thesis research for specialists in Quantitative finance, Financial Accounting, Actuarial science, Macroeconomics, Microeconomics, Risk Management, Managerial Economics, Engineering Economics, Financial economics, Taxation and many other disciplines including water engineering, psychology, e-commerce, mechanical engineering, leadership and many others.
I have developed many courses on online websites like Teachable and Thinkific. I also developed an accounting reporting automation software project for Utafiti sacco located at ILRI Uthiru Kenya when I was working there in year 2001.
I am a mature, self-motivated worker who delivers high-quality, on-time reports which solve client’s problems accurately.
I have written many academic and professional industry research papers and tutored many clients from college to university undergraduate, master's and Ph.D. students, and corporate professionals. I anticipate your hiring me.
I know I will deliver the highest quality work you will find anywhere to award me your project work. Please note that I am looking for a long-term work relationship with you. I look forward to you delivering the best service to you.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Advanced Accounting
ISBN: 9781260247824
14th Edition
Authors: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupnik
Question Posted:
Students also viewed these Accounting questions
-
Select the correct answer for each of the following questions. 1. In the preparation of a consolidated income statement : a. Income assigned to noncontrolling shareholders always is computed as a pro...
-
Bassett Company owns 80 percent of Crimson and Crimson owns 90 percent of Damson, Inc. Operational income totals for the current year follow; they contain no investment income. None of these...
-
BN.Com Company owns 80 percent of the common stock of Nook_Tablet Inc. In the current year, BN.Com reports sales of $5,000,000 and cost of goods sold of $3,500,000. For the same period, Nook_Tablet...
-
Hot Locks Company developed the following information for its hair dryer sales: Sales price $ 125.00 per unit Variable manufacturing cost $ 44.75 per unit Variable selling expense ...
-
Why does the intrinsic value of a call rise with the price of the stock, whereas the intrinsic value of a put declines as the stocks price rises?
-
The controller for Tulsa Medical Supply Company has established the following activity cost pools and cost drivers. An order for 1,000 boxes of medical-testing agent has the following production...
-
With reference to Exercise 11.69, find the 95% limits of prediction when the amount of additive is 4.5. Data From Exercise 11.69 11.69 A chemical engineer found that by adding different amounts of an...
-
Magnetics International wrote off the following accounts receivable as uncollectible for the year ending December 31, 2012: Customer Amount Trey Betts .... $15,500 Cheryl Carson .... 9,000 Irene...
-
Write (aim, equipment, meth, hypothesis, conclusions, use of the independent variable, the dependent variable, controlled variables, the control) for the experiment of a back titration by yourself to...
-
When the high-temperature superconductor yttrium barium copper oxide (see Chapter 15 opening and Box 15-3) is heated under flowing H2, the solid remaining at 1 000C is a mixture of Y2O3, BaO, and Cu....
-
On January 1, 2012, Alpha acquired 80 percent of Delta. Of Delta's total business fair value, $125,000 was allocated to copyrights with a 20-year remaining life. Subsequently, on January 1, 2013,...
-
Alder Corporation holds 80 percent of Beech, which, in turn, owns 80 percent of Cherry. Separate operating income figures (excluding investment income) and unrealized upstream gains included in the...
-
Antitrust laws make certain anticompetitive practices illegal because these practices raise prices and reduce output, which reduces the total amount of consumer surplus. Explain why antitrust action...
-
Calculating the Total Margin, separately for (a) Health Alliance Plan and (b) the Henry Ford Health System excluding Health Alliance Plan, does it appear that Henry Ford Health System has "the...
-
Bill and Melinda Barns live in Dallas, Texas. Both of them graduated and are working in high paying jobs. Bill loves to control his own investments and has been contributing to a stock account the he...
-
In Linux how to you return your adapter settings to DHCP at the command line?
-
On December 1st, Johnson Company sold merchandise with a selling price of $2,000 on account to Mr. Thompson, with terms 2/10, n/30. Ignoring cost of goods sold, what journal entry did Johnson Company...
-
This approach reserves the List's first node (Index Position # zero) as a Sentinel called the 'NIL node' it does not hold valid key data, it is used for keeping track of the Head pointer value in the...
-
The reaction taking place in an electrochemical cell under standard conditions is Fe 2+ (aq) + Ag + (aq) Fe 3+ (aq) + Ag(s) a. Write two half-equations for this reaction. For each, state whether...
-
A handrail, which weighs 120 N and is 1.8 m long. was mounted to a wall adjacent to a small set of steps (Figure P4.26). The support at A has broken, and the rail has fallen about the loose bolt at 8...
-
Why does an intra-entity sale of a depreciable asset (such as equipment or a building) require subsequent adjustments to depreciation expense within the consolidation process?
-
Why does an intra-entity sale of a depreciable asset (such as equipment or a building) require subsequent adjustments to depreciation expense within the consolidation process?
-
If a seller makes an intra-entity sale of a depreciable asset at a price above book value, the sellers beginning Retained Earnings is reduced when preparing each subsequent consolidation. Why does...
-
Suppose the correlation between the stock euro returns of Siemens and the USD/EUR exchange rate is 0.2. The standard deviation of the USD/EUR is 10% and the standard deviation of Siemens's stock euro...
-
list and describe the three key client-related factors that the advisor is required to consider when developing a "suitable" investment portfolio for their client. Please cite resources used
-
Year 1 2 3 Amount ($) 2000 3000 4000 An investment made today will pays you the above cash flows at the end of each year. If your required rate of return is 5% annual interest, how much will you pay...
Study smarter with the SolutionInn App