Fizer Pharmaceutical paid $78 million on January 2, 2021, for 6 million shares of Carne Cosmetics common stock. The investment represents a 25% interest in the net assets of Carne and gave Fizer the ability to exercise significant influence over Carne’s operations. Fizer received dividends of $2 per share on December 21, 2021, and Carne reported net income of $28 million for the year ended December 31, 2021. The fair value of Carne’s common stock at December 31, 2021, was $28.50 per share.
The book value of Carne's net assets was $192 million.
The fair value of Carne's depreciable assets exceeded their book value by $48 million. These assets had an average remaining useful life of twelve years.
The remainder of the excess of the cost of the investment over the book value of net assets purchased was attributable to goodwill.
Prepare the appropriate journal entries related to the investment during 2021. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions, (i.e., 10,000,000 should be entered as 10).)

Answers

Answer 1

The appropriate journal entries related to the investment during 2021 is: Debit Investment in Carne shares $78 million; Credit Cash $78 million.

Journal entries

January 2, 2021

Debit Investment in Carne shares $78 million

Credit Cash $78 million

January 12, 2021

Debit Cash $12,000,000

($2 per shares  x 6,000,000)

Credit Investment in Carne shares  $12,000,000

December 21, 2021

Debit  Investment in Carne shares $7,000,000

Credit Investment revenue $7,000,000

(25% x $28,000,000)

December 31, 2021

Debit Investment revenue $1,000,000

Credit Investment in Carne shares $1,000,000

[25% x ($48,000,000 ÷ 12 years)]

December 31, 2021

No journal entry for changes in fair value when using equity method.

Therefore the appropriate journal entries related to the investment during 2021 is: Debit Investment in Carne shares $78 million; Credit Cash $78 million.

Lear more about journal entries here:https://brainly.com/question/14279491

#SPJ1


Related Questions

Wendy winholtz 8 year savings certificate pays an annual interest rate of 5.3% at the end of 5 years she cashed out the 6,000 CD and paid a penalty of 12 month simple interest. What penalty did she pay

Answers

Answer:

  318

Step-by-step explanation:

The rate of 5.3% is an annual rate, and specifies the amount of interest earned in a 12-month period by the principal amount of the CD. The interest amount is found by multiplying the interest rate by the principal amount.

__

penalty

The amount of the penalty is 5.3% of 6000:

  0.053 × 6000 = 318

Wendy paid a penalty of 318 for her early withdrawal.

A certain city in Washington has a population of 46,400 people.
If the city is 580 sq mi in area, approximately how many people live in each square mile?

Answers

Step-by-step explanation:

please can you divide it will give you the answer

You plan to build a house that is 1 ½ times as long as it is wide. You want the land around the house to be 20 feet wider than the width of the house, and twice as long as the length of the house, as shown at the right.

Answers

The total area with land based on the information given is 3x² + 60x.

How to find the area?

Let the width = x

Let the length = (1.5 × x) = 1.5x

Area = 1.5x × x = 1.5x²

The area along with land:

Width = x + 20

Length = 3 × x = 3x

The total area with land:

= Length × Width

= 3x(x + 20)

= 3x² + 60x.

Learn more about length on:

brainly.com/question/2217700

#SPJ1

A copy machine makes 36 coples per minute. How many coples does it make in 4 minutes and 45 seconds?

Answers

It should make 8, so letter B


Estimate the solution to the following system of equations by graphing.
3x + 5y = 14
6x - 4y = 9

Answers

Answer:

(2.405, 1.537)

Step-by-step explanation:

When you graph these, they intersect at (2.405, 1.537).

You can use desmos as a graphing calculator, it is extremely helpful.

Hope this helps!

solve the equation
x + 10 = 20

Answers

20-10=10 therefore X=10

10+10=20

Jessica and Callista go the local burger joint. They both want to buy the meal deal. Jessica has 34 of the money needed to buy the meal deal and Callista has half of the money needed to buy the meal deal. If the meal deal was $3 cheaper, then together they would have exactly enough money to buy two of the meal deals.

What is the original price of the meal deal? Show or explain how you got your answer.

Answers

The original price of the meal deal if they would have exactly enough money to buy two of the meal deal is $4

How to write and solve equation?

let

x = cost of the meal

Both = 2x - 3

Jessica = 3/4xCallista = 1/2x

3/4x + 1/2x = 2x - 3

(3+2)x / 4 = 2x - 3

5/4x = 2x - 3

5/4x - 2x = - 3

(5-8)x/ 4 = -3

-3/4x = -3

x = -3 ÷ -3/4

= -3 × -4/3

= 12/3

x = $4

Learn more about equation:

https://brainly.com/question/2972832

#SPJ1

There are 35 students on the Step Team to raise a total of 3,500 for uniforms. So far they have raised a total of 1,800. How much more money in dollars, does each member of the Step Team need to raise

Answers

Answer:

48.57 USD

Step-by-step explanation:

Just subtract 3500 from 1800 you get 1700

then

1700 divided by 35

Simplify
Inx + lny + ln3

Answers

Step-by-step explanation:

[tex] ln(x) + ln(y) + ln(3) [/tex]

[tex] ln(3xy) [/tex]

Classify the following triangle as acute, obtuse, or right.
A. Obtuse
B. Acute
C. Right
D. None of these

Answers

Answer:

Acute Triangle.

Explanation:

The figure shows an equilateral triangle which has all the angles equal.

Acute Triangles are those who has angles less than 90°

Hence, an equilateral triangle is always an acute triangle.

Additional,

A right angle triangle has 90° angle.

An obtuse triangle has greater than 90° angle.

A rubber bouncy ball is dropped from a
height of 101.00 inches onto a hard flat
floor. After each bounce, the ball returns
to a height that is 19% less than the
previous maximum height. What is the
maximum height reached after the 5th
bounce?

Answers

Using a geometric sequence, it is found that the maximum height reached after the 5th bounce is of 43.48 feet.

What is a geometric sequence?

A geometric sequence is a sequence in which the result of the division of consecutive terms is always the same, called common ratio q.

The nth term of a geometric sequence is given by:

[tex]a_n = a_1q^{n-1}[/tex]

In which [tex]a_1[/tex] is the first term.

In this problem, the ball is dropped from a height of 101.00 inches onto a hard flat floor, and after each bounce, the height is 19% less, that is, 81% of the previous height, hence the first term and the common ratio are given by:

[tex]a_1 = 101, q = 0.81[/tex]

Then, the height of the nth bounce is given by:

[tex]a_n = 101(0.81)^{n-1}[/tex]

And the height of the 5th bounce is:

[tex]a_5 = 101(0.81)^{5-1} = 43.48[/tex]

The maximum height reached after the 5th bounce is of 43.48 feet.

More can be learned about geometric sequences at https://brainly.com/question/11847927

#SPJ1

Statistics

Assume there are 20 advanced English level students, 8 intermediate English
level students and 15 beginner English level students at statistics class. What
is the probability of selecting 10 advanced English level students and 10
non_ advanced English level students?

Answers

Answer:

no thank you sorry 4h he'll be a great day of school and I have been a while ago but it's a good time 44

Answer:

o

Step-by-step explanation:

Q5. Find each value.

Answers

Answer:

[tex]a. {( \sqrt{36} )}^{2} = 36[/tex]

[tex]b. ({ \sqrt{ \frac{25}{81} } })^{2} = \frac{25}{81} = 0.3086[/tex]

[tex]c. {( \sqrt{1.99} )}^{2} = 1.99[/tex]

[tex]d. {( \sqrt{x} })^{2} = x[/tex]

The square exponent is removed with the root .

The distance between two cities is 13 kilometers. There are approximately 1.6 kilometers in 1 mile. What is the number of miles between the two cities?

Answers

The number of miles between the two cities is 8.13 miles.

What is the number of miles between the two cities?

In order to determine  the number of miles between the two cities, we would have to divide 13 kilometers by 1.6 miles. Division is when a number is grouped into equal numbers using another number.

Number of miles = 13 / 1.6 = 8.13 miles

To learn more about division, please check: https://brainly.com/question/13281206

#SPJ1

simplify 2 2/3-1.25+5/6

Answers

Answer:

2.25or21/4

Step-by-step explanation:

hope it helps

Answer:

2 1/4 or 2.25

Step-by-step explanation:

Given

Expression:

2 2/3 - 1.25 + 5/6

Solution

Simplify it in below steps:

2 2/3 - 1.25 + 5/6 = 2 + 2/3 - 1 - 0.25 + 5/6 = 1 + 4/6 + 5/6 - 1/4 =1 + 9/6 - 1/4 =1 + 1 + 3/6 - 1/4 = 2 + 2/4 - 1/4 = 2 + 1/4 = 2 1/4 or 2.25

what equation defines a line that intersects the graph of 6x-2y=10 exactly once?

Answers

Any line with a slope different than 3 will intercept the given line only once.

What equation defines a line that intersects the graph?

The answer will be any line that is not parallel (nor the same) to the given line.

Remember two lines are parallel if the lines have the same slope and different y-intercept

In this case, the given linear equation is:

6x - 2y = 10

y = 3x - 5

So the slope is 3 and the y-intercept is -5.

Then, any line with a slope different than 3 will intercept this line only once.

An example can be:

y = 314*x

If you want to learn more about linear equations:

https://brainly.com/question/4025726

#SPJ1

100 points
1942 divded by 2^4

Answers

Answer: 121.375

Step-by-step explanation:

[tex]2^4=16[/tex]

[tex]\frac{1942}{2^4}[/tex]

[tex]\frac{1942}{16}=121.375[/tex]

5 more than n is the quotient of n and 4

Answers

Answer:

3

Step-by-step explanation:

What is the value of 9+n/3when n equals 12

Answers

Answer:

13

Step-by-step explanation:

Divide 12 by 3 first because of (PEMDAS) you get 4 tge add that to the 9 the you get 13.

P = parentheses

E = exponent

M = multiplication

D = division

A = addition

S = subtraction

Find the inverse, picture below!

Answers

Answer:

[tex]f^{-1}(x) = (x+7)^2[/tex]

Step-by-step explanation:

[tex]y=f(x) = \sqrt x - 7 \\\\\text{Replace x with y and then solve for y:}\\\\~~~~~~~~x= \sqrt y -7\\\\\implies \sqrt y = x+7\\\\\implies y = (x+7)^2\\\\\implies f^{-1}(x) = (x+7)^2[/tex]

Determine the composition of
transformations that would map figure ABCD to figure A'B'C'D"

1. The transformation that would map vertex B to B' is

Answers

Answer: translation B to B’

Reason: choices are translation, reflection, rotation, or dilation, this is translation

It's translation B to B’, is the composition of transformations that would map figure ABCD to figure A'B'C'D".

What is transformation of quadrilateral?

Transformations are changes done in the shapes on a coordinate plane by rotation, reflection or translation.

here, we have,

from the given figure we get,

there is a transformation of ABCD to A'B'C'D".

now,

Reason: choices are translation, reflection, rotation, or dilation, this is translation.

Hence, It's translation B to B’, is the composition of transformations that would map figure ABCD to figure A'B'C'D".

To learn more on transformation click:

brainly.com/question/29791450

#SPJ2

If events A and B are independent, what must be true?

P(A|B) = P(B)
P(A|B) = P(A)
P(A) = P(B)
P(A|B) = P(B|A)

Answers

Answer: P(A|B) = P(A)

Step-by-step explanation:

If they are independent, one event being given doesn't impact the probability of the other event.

Answer:b

Step-by-step explanation:

b

Simplify the following: 9 – 2(x - 5) = x + 10

Answers

Answer:

x = 3

Step-by-step explanation:

Hello!

We can distribute the parenthesis and solve for x.

Solve9 - 2(x - 5) = x + 109 - 2x + 10 = x + 1019 - 10 = 3x9 = 3xx = 3

The value of x is 3.

We can plug it back in to check if it works.

Check9 - 2(x - 5) = x + 109 - 2(3 - 5) = 3 + 109 - 2(-2) = 3 + 109 + 4 = 3 + 1013 = 13

Correct!

Answer:

[tex]\huge\boxed{\sf x = 3}[/tex]

Step-by-step explanation:

Given equation:

9 - 2(x - 5) = x + 10

Distribute

9 - 2x + 10 = x + 10

Subtract 10 to both sides

9 - 2x = x

Add 2x to both sides

9 = x + 2x

9 = 3x

Divide 3 to both sides

9/3 = 3x/3

3 = x

OR

x = 3

[tex]\rule[225]{225}{2}[/tex]

Explain a time in your life you underwent metamorphosis

Answers

Answer: Maybe when you Grew from a Baby to a toddler because that would be you growing over time

Step-by-step explanation:

I Hope This Helps!

this shape is a triangular Pyramid the 3 sides slant height is 14 the base width is 8 and the base height is 6.9

Answers

The surface area of a triangular prism with the 3 sides slant height as 14 the base width as 8 and the base height as 6.9 is 155. 705 in²

What is the surface area of a triangular prism?

The surface area of a triangular pyramid is the total area of all it's faces.

The properties of a triangular prism are;

It has a triangular base It is bounded y three lateral triangular faces meeting at  one vertex. It has all its faces as triangles

How to determine the surface area

Surface area = Base Area + 1÷2 (perimeter × base height)

But base area = 1÷2 (base side × height)

Base area = 1÷ 2 (8 × 14) = 0.5 × 112 = 56 in²

Perimeter = sum of all the sides = 14 + 8 + 6.9 = 28. 9 in

Base height = 6. 9in

Surface area = 56 + 1 ÷ 2 ( 28.9× 6. 9) = 56 + 0.5 × 199.41 = 56 + 99. 705 = 155. 705 in²

Surface area = 155. 705 in²

Therefore, the surface area of the triangular prism is 155. 705 in²

Learn more about  surface area here:

https://brainly.com/question/16581456

#SPJ1

Hurry HELP :The net of a solid figure is shown below: Four squares are shown side by side in a row. The second square has a square above it and a square below it. All the squares have side lengths equal to 5 inches Which calculation will give the total surface area of the solid figure? (1 point) a 5 ⋅ 6 ⋅ 6 square inches b 6 ⋅ 5 ⋅ 5 square inches c 6 ⋅ 5 ⋅ 5 ⋅ 5 square inches d 5 ⋅ 6 ⋅ 6 ⋅ 6 square inches

Answers

The calculation that will give us the total surface area of the solid figure that is made up of square faces is: B. 6 × 5 × 5

What is the Area of a Square?

Area of a square = (side length)².

Therefore are six (6) square faces that make up the solid figure.

Area of the 6 square faces = total surface area of the solid figure = 6(5²)

Total surface area of the solid figure = 6 × 5 × 5

Total surface area of the solid figure is: B. 6 × 5 × 5

Learn more about the area of a square on:

https://brainly.com/question/813881

#SPJ1

A triangle has sides measuring 2 inches and 7 inches.If x represents the length in inches of the third side, which inequality gives the range of possible values for x?

Answers

Answer:

I would say A is the answer.

solving separable differential equation DY over DX equals xy+3x-y-3/xy-2x+4y-8​

Answers

It looks like the differential equation is

[tex]\dfrac{dy}{dx} = \dfrac{xy + 3x - y - 3}{xy - 2x + 4y - 8}[/tex]

Factorize the right side by grouping.

[tex]xy + 3x - y - 3 = x (y + 3) - (y + 3) = (x - 1) (y + 3)[/tex]

[tex]xy - 2x + 4y - 8 = x (y - 2) + 4 (y - 2) = (x + 4) (y - 2)[/tex]

Now we can separate variables as

[tex]\dfrac{dy}{dx} = \dfrac{(x-1)(y+3)}{(x+4)(y-2)} \implies \dfrac{y-2}{y+3} \, dy = \dfrac{x-1}{x+4} \, dx[/tex]

Integrate both sides.

[tex]\displaystyle \int \frac{y-2}{y+3} \, dy = \int \frac{x-1}{x+4} \, dx[/tex]

[tex]\displaystyle \int \left(1 - \frac5{y+3}\right) \, dy = \int \left(1 - \frac5{x + 4}\right) \, dx[/tex]

[tex]\implies \boxed{y - 5 \ln|y + 3| = x - 5 \ln|x + 4| + C}[/tex]

You could go on to solve for [tex]y[/tex] explicitly as a function of [tex]x[/tex], but that involves a special function called the "product logarithm" or "Lambert W" function, which is probably beyond your scope.

A line intersects the points (-5, 1) and (-2,7). What is the slope of the line in simplest form? m=[?}

Answers

Step-by-step explanation:

To find slope : y2- y1 / x2 - x1

we have ( -5 , 1 ) which is ( x1 , y1 )

and ( -2 , 7 ) is ( x2 , y2 )

so; 7 - 1 / -2 - (-5)

6/3

= 2

The constant is four

Answers

x=4

Step-by-step explanation:

4x=16y

x=16divide4

x=4

Answer:

y = 4x

Step-by-step explanation:

Take a pair of coordinates, like

(8,32) ; (4,16)

m = (Δy):(Δx)

   = (32-16) : (8 - 4) = 4

y = mx + c

  = 4x +c

Now substitute the values from one of the 2 coordinates' pair.

16 = 16 + c

c = 0

Therefore,

y = 4x

Other Questions
Which of the following is an example of a famous poem written in Sanskrit? A. KarmaB. The Ayurveda C. Bhagavad D. Arjunas Life Rannan wants to perform a scientific experiment. he writes out a systematic process that involves him making observations and then forming his opinion about those observations. he then collects his opinions together and uses them to show that his findings are supported by evidence. in what way did rannan make an error in his scientific process? a) he should not use a systemic process. b) he should not use his opinions as evidence. c) he should not make observations. d) he should not use multiple steps in his process. Olive has raised $3,428 to buy toothpaste to place in care packages. Each tube costs $2. Abut how many tubes of toothpaste can she buy? Choose the best estimate. What is the slope of the line y = x + 1? Which type of context clue helps you to identify the meaning of the underlined word in the following sentence?Ella told the bank teller that the ATM, or automatic teller machine, was broken.comparisonsynonymexampledefinition help me help now !!!I need the answer for question 2 now help!! Biology b adaptive 8. which substance is moved via the hydrologic cycle? o water o nitrogen ophosphorous o carbon Select the correct answer from each drop-down menu. which qualities show effectiveness at work? in a last few weeks, steve has stopped with his coworkers during work. he takes short lunch breaks and is while working. find the next 3 terms of the following sequences a.4,9, 16,25 b.1,4,9, 16 c.1,4,7,10 d.3,9, 15, 21 Mango has 2.5% salt content per gram. How many grams of Mango does it take to produce 9 gram of salt? Show your work. In this excerpt from a persuasive essay about conserving energy, which rhetorical technique does the author use when asking readers to reduce their energy consumption?Start wearing sweaters instead of turning up the heat in winter. Open the windows in summer to cut down on the energy air conditioners consume. Taking these steps and making a few other conscious choices can help ensure that future generations will enjoy the same conveniences you take for granted today. The finalized registration statement for new securities approved by the SEC is called A. a firm commitment. B. a red herring. C. the prospectus. D. the preliminary statement (Q016) The 1930 self-imposed guidelines in the film industry that prohibited depicting adultery, nudity, and long kisses, and barred scripts that portrayed clergymen in a negative light was called What is the area of a triangle whose vertices are X(1, 1), Y(3, -1), and Z(4, 4)?Please respond within 24 hours.(Worth 100 points becasue of how much I need it.) A basketball league wants to order 512 T-shirts for the teams. If there are 8 T-shirts in each package, how many packages of T-shirts should the league order? Mr. Jefferson is building a seesaw for the playground using the diagram shown. In the diagram, the seesaw board is parallel to ground level and the triangle is an isosceles triangle. What is m1? A jogger has an average stride length of 140 cm and takes an average of 200 steps per minute. The jogger's average speed would be After he attended the neighborhood meeting he became more frustrated Can someone please help me its the second time im asking this A cyclist is traveling along a road due east at 12 km/h and wind is blowing from south-west at 5 km/h . find the velocity of the wind relative to the cyclist.