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ConceptsCoach
ConceptsCoach, Certified Public Accountant (CPA)
Category: Finance
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Experience:  Chartered Accountant and MBA
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On January 1, 2007, Yang Corporation acquired 25 % of the outstanding

Customer Question

On January 1, 2007, Yang Corporation acquired 25 % of the outstanding shares of Spiel Corporation for $100,000 cash. Spiel Company reported net income of $75,000 and paid dividends of $30,000 for both 2007 and 2008. The fair value of shares held by Yang was $110,000 and $105,000 on December 31, 2007 and 2008, respectively. What amount will be reported by Yang as income from its investment in Spiel for 2008, if it used the equity method of accounting?
A. $11,250
B. $18,750
C. $7,500
D. $26,250



7) The Securities and Exchange Comission is working prospectively towards requiring public companies in the United States to complete their financial statements in accordance with
A. Technical Bulletins
B. Generally Accepted Auditing Standards
C. International Financial Reporting Standards
D. Generally Accepted Accounting Principles
Submitted: 6 years ago.
Category: Finance
Expert:  ConceptsCoach replied 6 years ago.

A. $11,250

C. International Financial Reporting Standards

 

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Expert:  ConceptsCoach replied 5 years ago.

Do you need additional help on this one?

 

Else, kindly click the GREEN ACCEPT button so that I get paid for my hard work. Thanks.