equity

Project Description:

jager inc. holds 30% of the outstanding voting shares of kinson co. and appropriately applies the equity method of accounting. amortization associated with this investment equals $11,000 per year. for 2011, kinson reported earnings of $100,000 and paid cash dividends of $40,000. during 2011, kinson acquired inventory for $62,400, which was then sold to jager for $96,000. at the end of 2011, jager still held some of this inventory at its transfer price of $50,000.

required:

determine the amount of equity in investee income that jager should have reported for 2011.
Skills Required:
Project Stats:

Price Type: Negotiable

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