Maurice Tutor

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    Argosy University/ Phoniex University/
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    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 02 Aug 2017 My Price 8.00

Winston Corporation

Cost versus Equity Reporting

Winston Corporation purchased 40 percent of the stock of Fullbright Company on January 1, 20X2, at underlying book value. The companies reported the following operating results and dividend payments during the first three years of intercorporate ownership:

 

Winston Corporation

Fullbright Company

Year

Operating Income

Dividends

Net Income

Dividends

20X2

$100,000

$ 40,000

$70,000

$30,000

20X3

60,000

80,000

40,000

60,000

20X4

250,000

120,000

25,000

50,000

Required

Compute the net income reported by Winston for each of the three years, assuming it accounts for its investment in Fullbright using ( a ) the cost method and ( b ) the equity method.

Answers

Maurice Tutor
(5)
Status NEW Posted 02 Aug 2017 10:08 PM My Price 8.00

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