The writer is very fast, professional and responded to the review request fast also. Thank you.
On January 1, 2010, Allan acquires 15 percent of Bellevue’s outstanding common stock for $62,000. Allan classifies the investment as an available-for-sale security and records any unrealized holding gains or losses directly in owners’ equity. On January 1, 2011, Allan buys an additional 10 percent of Bellevue for $43,800, providing Allan the ability to significantly influence Bellevue’s decisions.During the next two years, the following information is available for Bellevue: Income Dividends Common StockFair Value (12/31) $438,000 468,000 ——————————————————————————–In each purchase, Allan attributes any excess of cost over book value to Bellevue’s franchise agreements that had a remaining life of 10 years at January 1, 2010. Also at January 1, Bellevue reports a net book value of $280,000.Assume Allan applies the equity method to its Investment in Bellevue account: (a-1) On Allan’s December 31, 2011, balance sheet, what amount is reported for the Investment in Bellevue account? (Omit the “$” sign in your response.)(a-2) What amount of equity income should Allan report for 2011? (Omit the “$” sign in your response.)(a-3) Prepare the January 1, 2011, journal entry to retrospectively adjust the Investment in Bellevue account to the equity method
Show more
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.
Read moreEach paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.
Read moreThanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.
Read moreYour email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.
Read moreBy sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.
Read more