On January 1, 2019, PR paid $90,000 to purchase 10% (10,000) of the ordinary shares of...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
On January 1, 2019, PR paid $90,000 to purchase 10% (10,000) of the ordinary shares of HR Inc. On December 27, 2019, HR declared and paid a dividend of $0.50 per ordinary share. HR reported a net income of $105,000 for the year ended December 31, 2019. On December 31, 2019, the market value of HR's ordinary shares was $9.70 per share. What amount should be reported in other comprehensive income with respect to this HR investment on PR's 2019 statement of comprehensive income? On January 1, 2019, PR paid $90,000 to purchase 10% (10,000) of the ordinary shares of HR Inc. On December 27, 2019, HR declared and paid a dividend of $0.50 per ordinary share. HR reported a net income of $105,000 for the year ended December 31, 2019. On December 31, 2019, the market value of HR's ordinary shares was $9.70 per share. What amount should be reported in other comprehensive income with respect to this HR investment on PR's 2019 statement of comprehensive income?
Expert Answer:
Answer rating: 100% (QA)
Answer To determine the amount that should be reported in other comprehensive income OCI with respec... View the full answer
Related Book For
Financial Accounting IFRS
ISBN: 978-1118285909
2nd edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Posted Date:
Students also viewed these accounting questions
-
Calculate issue price of T-bills if the nominal value is 100,000 TL, interest rate % 12 and maturity is 95 days
-
Hazzizzi Ltd Trial balance as at March 31, 2023 Trade receivables 22,800,000 Trade payables 6,100,000 Provision for bad debt 7,600,000 Bank 2,100,000 Cash in hand 928,000 Petty cash 203,000 Interest...
-
1. Evaluate whether the following statements are true or false in relation to cash and cash equivalents: I. Demand Deposits forms part as cash just like savings and time deposit. II. Stale checks...
-
A psychologist shows a list of eight activities to a subject in an experiment. How many ways can the subject pick a first, second, and third activity? a. Identify the total number of objects n and...
-
A uniform rod of mass M = 20 kg and length L = 5 m is bent into a semicircle. What is the gravitational force exerted by the rod on a point mass m = 0.1 kg located at the center of the circular arc?
-
All Brakes Ltd. provided a loan of $750,000 to Mr. Allen, a principal member of the company on the 1st January 2020. Mr. Allen repaid the loan December 1st 2020. Is this loan a distribution?
-
Using Program15.m (central difference method), solve Problem 11.18 with \(c=1\). Data From Problem 11.18:- Using the central difference method, find the response of the two-degree-of-freedom system...
-
On November 30, 2016, Davis Company had the following account balances: During the month of December, Davis entered into the following transactions: Date Transaction Dec. 4 Made cash sales of $3,000;...
-
The Wrtsil RT-flex96C is a turbocharged, TWO-STROKEreciprocating Diesel engine designed to power large container shipsand is the world\'s largest engine. Built in the Aioi Works ofJapan\'s Diesel...
-
(a) Without referring back, make a list of the most important items you learned in this chapter. (b) Overall, what do you believe were the three major purposes of the chapter?
-
in cisco sdwan What does a centralized control policy affect? Network wide data traffic Network wide routing Route policy in site - local network Single interface on a single router
-
Identify the benefits of BCM that are easy to quantify and those that are not easy to quantify.
-
Once completed, why would a BCP ever change?
-
Why should senior management rather than IT managers have final approval over the IT Disaster Recovery Plan?
-
To paraphrase the American humorist Mark Twain, reports of the coal industrys death have been greatly exaggerated. The coal industry is clearly in decline but appears to be far from dead. Globally,...
-
Why are comprehensive checklists and questionnaires beneficial during the site inspection and management interview process?
-
Elliott Management is one of largest hedge fund firms in the United States. Elliot now holds $275 billion in its hedge fund account. Elliott charges a 1% management fee based on assets under...
-
Is it ethical to provide safety training in English to immigrant workers who speak little English, in order to reduce costs?
-
Ankara Company uses an imprest petty cash system. The fund was established on March 1 with a balance of ± 100. During March, the following petty cash receipts were found in the petty cash box....
-
Summary financial information for Rapture Company is as follows. Compute the amount and percentage changes in 2014 using horizontal analysis, assuming 2013 is the base year. December 31, 2013...
-
The financial statements of Tootsie Roll are presented in Appendix D. The companys complete annual report, including the notes to its financial statements, is available at www.tootsie.com....
-
The two circular disks, each of mass \(m_{1}\), are connected by the curved bar bent into quarter-circular arcs and welded to the disks. The bar has a mass \(m_{2}\). The total mass of the assembly...
-
The turbine rotor in a ship's power plant has a mass of \(1000 \mathrm{~kg}\), with center of mass at \(G\) and a radius of gyration of \(200 \mathrm{~mm}\). The rotor shaft is mounted in bearings...
-
A body weighing \(25 \mathrm{lb}\) is suspended from a spring of constant \(k=160\) \(\mathrm{lb} / \mathrm{ft}\). At time \(t=0\), it has a downward velocity of \(2 \mathrm{ft} / \mathrm{sec}\) as...
Study smarter with the SolutionInn App