Orleans Corporation Purchased 1,000,000 Shares of Creole Corporation's Common Stock

question 26

Essay

Orleans Corporation purchased 1,000,000 shares of Creole Corporation's common stock, which constitutes 10% of Creole's voting stock on June 30, 2014 for $42 per share. Orleans' intent is to keep these shares beyond the current year. On December 20, 2014, Creole paid a $4,000,000 cash dividend. On December 31, 2014, Creole's stock was trading at $45 per share and their reported 2014 net income was $52 million.
Required:
A. Record the transaction to record the acquisition of Creole Corporation on June 30, 2014.
B. Record the transaction for the dividend received by Orleans on December 20, 2014.
C. Record any year-end entries needed by Orleans Corporation.

Recognize the association between brain regions and specific psychological disorders or symptoms.

Comprehend the role of the brain's major divisions in processing and integrating information.

Understand how brain injury or lesions affect cognitive and physiological functions.

Recognize the functions of specific cerebral cortex regions in perception, thought, and behavior.

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Definitions:

Genes

Sequences of DNA or RNA that code for molecules that express genetic information, fundamental units of heredity and the primary influencers of biological traits.

Evolutionary Psychologists

Scientists who study the human mind and behavior from the perspective of evolution, focusing on how evolutionary principles influence psychological traits.

Behavioral Geneticists

Scientists who study the role of genetic and environmental influences on human behavior.

Genes

Segments of DNA located on chromosomes that contain the instructions for the development, functioning, and reproduction of organisms.