Question: On january 2 nd , 2 0 2 4 , eagle corp purchased 1 5 % of Bobcat Inc's common stock for $ 8 0

On january 2nd ,2024, eagle corp purchased 15% of Bobcat Inc's common stock for $80,000. During 2024, Bobcat Inc. had net income of $120,000 and declared and paid a dividend of $40,000. On december 31,2024 the fair value of the bobcat inc's stock had increased to $90,000. How much should eagle corp shoe in its 2024 statement as income from this investment

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

Learning a 1. Dec. 31 Int P10-21B Accounting for debt investments Suppose Hale and Sons purchases $800,000 of 3.5% annual bonds of Tyson Way Corporation at face value on January 1, 2018. These bonds...

Q:

Part 1 of question journal entries 1. Record the entry for the 2-for-1 stock split. Oct 1 2. Record declaration of cash dividend for common shares and preferred shares. Nov 1 3. Record the entry on...

Q:

Can an expert help me solve this? LUT ALL Progress Selected transactions for Ayayal Corp. during its first month in business are presented below Sept. 1 5 5 8 Issued common stock in exchange for...

Q:

4. On January 2, 2010, C inc Clothing issued 100,000 new shares of its $5 par value common stock valued at $19 a share for all of D inc Dressing Company's outstanding common shares in an acquisition....

Q:

What is the answer to these tables? here is all the information that had been given to me and my answers to the question that I think needs to be answered to complete the two tables You have been...

Q:

I need help completing these 2 tables here is all the information that had been provided to me I need help. Help me, please Adjustments Debit Credit Adjusted Trial Balance Debit balances Credit...

Q:

Corporate Tax Return Project - Ver. 1.0 Facts You (The Paid Tax Preparer) Your name is Stephanie Bosch. You are a Director in the CPA firm of Artei and Howe, LLP. Your preparer tax identification...

Q:

i need help finishing the accounting equation for year 2 beginning balance year 1: cash - 1,757,000 acct rec - 17,500 inventory - 348,000 truck- 0 equipment - 0 land - 50,000 building - 450,000 accum...

Q:

These are the some of the problems I have filled out. (at least I think they are right). I need help filling out the 2016 values on the income statement sheet, statement of stockholders equity sheet,...

Q:

Fan-Tastic Sports Gear Inc. You have just been hired as the accountant for Fan-Tastic Sports Gear Inc., a wholesaler of sporting goods and apparel. The previous accountant left abruptly in late...

Q:

7. What rules and principles can guide managers to have successful people management skills?

Q:

What steps can organizations take to ensure that employees' emotional intelligence is put to good use and not used for personal gain or unethical purposes?

Q:

Compute the following performance measures using the Form 9 9 0 . ( Round yo tha fininn fnnearn ratin th thraa Harimal nlarael

Q:

last two options for the multiple choice are : performance management development A construction equipment manufacturer, Roswell Corporation, is focusing on becoming a leader in sustainability in...

Q:

The debate over convergence and divergence in human resource applications internationally.

Q:

The nature and importance of the global marketplace.

Q:

The role of human resources in providing services to support internationalisation.