On January 1, 2016, American Corporation purchased 30% of the outstanding voting shares of Short Supplies common stock for $240,000 cash. On that date, Short's book value and fair value were both $800,000. The equity method is deemed appropriate for this investment. Short's net income reported on December 31, 2016, was $76,000. During 2016, Short also paid cash dividends in the amount of $22,000.

Required:
Compute the amount that would be reported for the investment on American Corporation's financial statements at December 31, 2016

Tiana daniels enterprise’s trial balance as at december 31, 2016 did not balance. on february 15, 2017 the following errors were detected: errorsi. water rates had been undercast by $2, 000.  ii. a cheque paid to yvonne walch of $2, 680 had been posted to the credit side of her account.  iii. discount received total of $1, 260 had been posted to the debit side of the discount allowed account as $1, 620.  iv. rent paid in the amount of $24, 000 had been posted to the credit of the rent received account.  v. wayne returned goods valuing $1, 680 to daniels enterprise but had been completely omitted from the books.    required: 1. prepare the journal entries to correct the errors.  (narrations required)                    14.5 marks  2.    prepare the suspense account showing clearly the original trial balance error.          8 marks

Imagine you own an established startup with growing profits. you are looking for funding to greatly expand company operations. what method of financing would be best for you?

Factors like the unemployment rate, the stock market, global trade, economic policy, and the economic situation of other countries have no influence on the financial status of individuals. question 1 options: true false