On January 1, 2018, Nana Company paid $100,000 for 6,300 shares of Papa Company common stock. The ownership in Papa Company is 10%. Nana Company does not have significant influence over Papa Company. Papa reported net income of $61,000 for the year ended December 31, 2018. The fair value of the Papa stock on that date was $64 per share. What amount will be reported in the balance sheet of Nana Company for the investment in Papa at December 31, 2018?
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “On January 1, 2018, Nana Company paid $100,000 for 6,300 shares of Papa Company common stock. The ownership in Papa Company is 10%. Nana ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Most successful organizations minimize the need for explicit rules, regulations, and other boundaries by
Answers (1)
Discuss important factors that affect pay levels in a business.
Answers (1)
Novak Corp. had the following account balances at year-end: Cost of Goods Sold $61,200; Inventory $14,550; Operating Expenses $29,960; Sales Revenue $120,310; Sales Discounts $1,080; and Sales Returns and Allowances $1,750.
Answers (1)
A study reported that a 10% increase in the price of cigarettes would reduce consumption by 4% in the short-run and by 7.5% in the long-run.
Answers (1)
Campbell's Soup is considering launching a new gumbo product and is testing different recipes with consumers before full commercialization. What type of research is Campbell's using to determine which soup consumers will like the best?
Answers (1)
New Questions in Business
The ultimate goal of the marketing process is to do which of the following?
Answers (1)
What effect do you think seasonal demand might have on the price of goods? Explain why.
Answers (1)
Welfare economics explains which of the following in the market for televisions? a. The government sets the quantity of televisions; firms respond to the quantity by charging a specific price. b.
Answers (1)
Cardinal Company is considering a five-year project that would require a $2,890,000 investment in equipment with a useful life of five years and no salvage value. The company's discount rate is 12%.
Answers (1)
Parwin Corporation plans to sell 42,000 units during August. If the company has 17,500 units on hand at the start of the month, and plans to have 18,500 units on hand at the end of the month, how many units must be produced during the month?
Answers (1)