Time Company

by | Aug 23, 2021 | Assignment Help

Time Company purchased 40,000 of the 100,000 outstanding shares of Tiny Company for $2,000,000.  Time has significant influence over Tiny and will account for this investment using the equity method.  During the year, Tiny declared dividends of $140,000 and reported Net Income of $800,000.  What is the balance in the Investment in Tiny account at year-end? Holding in Tiny Company == 40000 / 10000040.00% Net Income of TimeShare of Tiny === 800000800000 x 40%320,000 Dividend declaredShare of Tiny === 140000140000 x 40%56,000 Balance in…

This is a sample question

Need help with a similar assignment?

Place an order at Study Pirate

Attach all custom instructions.

Make Payment. (The total price is based on number of pages, academic level and deadline)

We’ll assign the paper to one of writers and send it back once complete.