During its inception, Devon Company purchased land for $100,000 and a building for $180,000. After exactly 3 years, it transferred these assets and cash of $50,000 to a newly created subsidiary, Regan Company, in exchange for 15,000 shares of Regan's $10 par value stock. Devon uses straight-line depreciation. Useful life for the building is 30 years, with zero residual value. An appraisal revealed that the building has a fair value of $200,000.1. Based on the information provided, at the time of the transfer, Regan Company should record:(1) Building at $180,000 and no accumulated depreciation.(2) Building at $162,000 and no accumulated depreciation.(3) Building at $200,000 and accumulated depreciation of $24,000.(4) Building at $180,000 and accumulated depreciation of $18,000.2. Based on the information provided, what amount would be reported by Devon Company as investment in Regan Company common stock?(1) $312,000(2) $180,000(3) $330,000(4) $150,0003. Based on the preceding information, Regan Company will report(1) additional paid-in capital of $0.(2) additional paid-in capital of $150,000.(3) additional paid-in capital of $162,000.(4) additional paid-in capital of $180,000.
Answers: 2
Business, 21.06.2019 14:00
What is the quantity demanded when the price floor is $0.75 in the market for public transportation? a. 75,000 b. 116,000 c. 0 (zero) d. 100,000 e. 86,000?
Answers: 3
Business, 22.06.2019 11:00
In each of the following cases, find the unknown variable. ignore taxes. (do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.) accounting unit price unit variable cost fixed costs depreciation break-even 20,500 $ 44 $ 24 $ 275,000 $ 133,500 44 4,400,000 940,000 8,000 75 320,000 80,000
Answers: 3
Business, 22.06.2019 13:30
If the economy were in the contracting phase of the business cycle, how might that affect your ability to find work?
Answers: 2
Business, 22.06.2019 20:00
What part of the rational model of decision-making does the former business executive “elliott” have a problem completing?
Answers: 2
During its inception, Devon Company purchased land for $100,000 and a building for $180,000. After e...
Mathematics, 11.07.2019 18:00
Mathematics, 11.07.2019 18:00
Mathematics, 11.07.2019 18:00
History, 11.07.2019 18:00
Mathematics, 11.07.2019 18:00
History, 11.07.2019 18:00
Biology, 11.07.2019 18:00
Mathematics, 11.07.2019 18:00
English, 11.07.2019 18:00
Mathematics, 11.07.2019 18:00