AWhat Would Be Company P's Investment Balance Given the Following

question 15

Essay

a.What would be Company P's investment balance given the following information:
Company P's ownership interest of Company S is 90%.The original cost of the investment is $500,000.The beginning retained earnings of Company S in prior to a dividend was $100,000 and two years later retained earnings of Company S was $280,000.
b.Record the journal entry to record equity income under the simple equity method at the end of two years for Company P, assuming the second year's income for Company S was $100,000 and no dividend declarations were made.

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Definitions:

Overweight Children

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A neurodevelopmental disorder characterized by difficulties with focus, hyperactivity, and impulsiveness.

Excessive Inattention

A higher than normal level of distraction or difficulty focusing attention on a task or activity for a sustained period.

Cultural Relativity

The concept that the values, beliefs, and practices of a culture should be understood based on that culture's own context rather than judged against the criteria of another.