subject
Business, 04.03.2021 20:40 harmonywilliams30

On June 1, 2021, Blue Co. distributed to its common stockholders 330,000 outstanding common shares of its investment in Red Inc. which is an unrelated party. The book value on Blue’s books of Red's $1 par common stock was $2.00 per share. Immediately after the declaration, the market price of Red's stock was $2.40 per share. In its income statement for the year ended June 30, 2021, what amount should Blue report as gain before income taxes on disposal of the stock? (Do not round your intermediate calculation.) Multiple Choice $660,000. $0. $132,000. $792,000.

ansver
Answers: 1

Another question on Business

question
Business, 21.06.2019 14:20
On january 1, 2015, jon sports has a bond payable of $200,000. during 2015, it pays off $20,000 of the outstanding bond principal and issues a new $70,000 bond. there are no other transactions related to the bond payable account. what is jon sports' december 31, 2015, bond payable balance?
Answers: 2
question
Business, 21.06.2019 21:10
Strawberry plants reproduce by
Answers: 1
question
Business, 22.06.2019 06:00
According to herman, one of the differences of managing a nonprofit versus a for-profit corporation is
Answers: 1
question
Business, 22.06.2019 09:00
How does the plaintiff, mrs. wood, try to implicate the gun manufacturer ( who testifies, what do they say, what evidence is introduced)?
Answers: 2
You know the right answer?
On June 1, 2021, Blue Co. distributed to its common stockholders 330,000 outstanding common shares o...
Questions