Waldo Company owns 30% of Randy company. During 2017, Randy reported earnings of 650,000 and paid cash

Fantastic news! We've Found the answer you've been seeking!

Question:

Waldo Company owns 30% of Randy company. During 2017, Randy reported earnings of 650,000 and paid cash dividends of 345,000. What effect would this have on Waldo's investment account and net income?

Related Book For answer-question

Introduction to Financial Accounting

ISBN: 978-0133251036

11th edition

Authors: Charles Horngren, Gary Sundem, John Elliott, Donna Philbrick

See More Books

Posted Date: Aug 31, 2018 09:23 AM

See More Questions

Ford LMS Corporation declared and paid cash dividends for the last three years as follows: 2018 - P2,500,000; 2019 - P3,500,000; 2020 - P6,500,000. No dividends were paid for two years prior to 2018....
Honda, the Japanese automobile company, declared and paid cash dividends in fiscal 2011 of 51 per share on 1,807.3 million shares. The declaration preceded the payment by 1 month. Prepare the journal...
1 Assumptions, DCF valuation for Graham Holdings 2 3 Growth of EBIAT through 2021 4 Nonrecurring non-operating income/(expense) 2017-2021 5 Growth of every other income statement item through 2021 6...
Report Format Market analysis Business - Pizza Vending Machine - Target Place : Universities 1. Target Market University Students in the UK University food 2. Potiential Customers 3. Barrier of entry...
The Juno Company, a manufacturer of clothing for plus-sized consumers, was in the process of evaluating its product and advertising strategy. Initial efforts consisted of a number of focus-group...
Using the data in RDCHEM.RAW, the following equation was obtained by OLS: (i) At what point does the marginal effect of sales on rdintens become negative? (ii) Would you keep the quadratic term in...
What is the difference between internal ecological accounting and the other two types of ecological accountingexternal ecological accounting and other ecological accounting?
In Born together-Reared apart: the Landmark Minnesota twin study (2012), Nancy Segal discusses the efforts of research psychologists at the University of Minnesota to understand similarities and...
Each transaction begins at the time slot of its first Read and commits right after its last Write (same time slot). Regarding the following questions, give and justify your answers. 1) Assume a...
You want to park your bicycle in a bicycle parking area where bike racks are aligned in a row. There are already N bikes parked there (each bike is attached to exactly one rack, but a rack can have...
USE C++ PROGRAMMING LANGUAGE NB: TYPE THE ANSWERS Write the algorithms and Implement the binary search tree with the following functionalities: Insert Delete Post-order and Pre-order traversal
The "Emerging Constitutional Question" (ECQ) is an opportunity for you to explore emerging constitutional issues in our country. This is also an opportunity to develop the ability to understand legal...
Using these terms "encumbrances, easements and licenses," all which affect the owner's rights to 1) Possession, 2) Use and 3) Power of Disposition of their land . These restrictions can be recognized...
Nash's Trading Post, LLC compiled the following financial information as of December 31, 2022: Service revenue $825000 Common stock 175000 Equipment 225000 Operating expenses 725000 Cash 200000...
Assume a constant annual interest rate of 5%. A bank has an asset base that delivers cash flows for the next 5 years as shown in the table below. It wishes to structure its liabilities so as to match...
John is offering a house for sale for $200,000 with an assumable loan which was made 5 years ago for $160,000 at 8.75 percent over 30 years. Mary is interested in buying the property.A bank can grant...
Doyle and company provide the following information about the standard cost per unit for their only product. Price$120.00 Variable manufacturing costs80.00 Fixed manufacturing costs20.00 Variable...
The first national bank pays a 4% interest rate compound continuously. The effective annual rate paid by the bank is __________. a. 4.16% b. 4.20% c. 4.08% d. 4.12%
Based on the below information, calculate how many units of Product A and Product B need to be sold to breakeven. Product A, Product B CM $16, $6 Production ratio 40%,60% Fixed costs $240,000 a....
Exhibit presents some financial information for Chevron (CVX.N) and ExxonMobil (XOM.N). Which do you believe is the preferred investment based on this information gathered in August 2012? Be prepared...
On September 30, 2011, Google was generating increasing amounts of cash from operating activities each year and was unable to fully use it to grow the business. Hence, the levels of liquid...
Some companies have depreciation policies that differ substantially from the norm of their industry. For example, Cineplex Odeon (now operating as AMC Theaters in the United States and Cineplex...
What is the purpose of tests of controls?
Why are some tests of controls performed during the interim period?
What four factors should the auditor consider in deciding what evidence, if any, needs to be obtained during the period from the interim date to the balance sheet date?

Waldo Company owns 30% of Randy company. During 2017, Randy reported earnings of 650,000 and paid cash

Question:

Expert Answer:

Investment amount 91500 Net Income ... View the full answer

Introduction to Financial Accounting

Students also viewed these finance questions