The fair value of the papa stock on that date was 53 per, Ask an Expert

Accounting

On January 1, 2011, Nana Company paid $100,000 for 8,300 shares of Papa Company common stock. These securities were classified as trading securities. The ownership in Papa Company is 10%. Papa reported net income of $59,000 for the year ended December 31, 2011. The fair value of the Papa stock on that date was $53 per share. What amount will be reported in the balance sheet of Nana Company for the investment in Papa at December 31, 2011?

View complete question

Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9444736

Have any Question?Write your Review or question?

Related Questions in Accounting Basics

Assignment 1 discussion-predicting and developing a

Assignment 1: Discussion-Predicting and Developing a Long-Term Growth Strategy To develop a strategic plan, as a nonaccounting manager, you need to analyze and link management accounting data and performance information ...

Question - redline publishers inc produces various manuals

Question - Redline Publishers, Inc. produces various manuals ranging from computer software instructional booklets to manuals explaining the installation and use of large pieces of industrial equipment. At the end of sol ...

Question - weston company has these data at december 31

Question - Weston Company has these data at December 31, 2017, the end of its first year of operations. Securities Cost Fair Value Trading $110,000 $122,000 Available-for-sale100,000 96,000 The available-for-sale securit ...

Question - in 2013 emily invests 100000 in a limited

Question - In 2013, Emily invests $100,000 in a limited partnership that is not a passive activity. During 2013, her share of the partnership loss is $70,000. In 2013, her share of the partnership loss is $50,000. How mu ...

Question - dollars for dozers entity dde has a bulldozer it

Question - Dollars for Dozers Entity (DDE) has a bulldozer it acquired 3 years ago. DDE has decided to sell the dozer in its principle market located in Tennessee. DDE has decided that the dozer needs to recondition its ...

Question - jennifer is a cpa and a single taxpayer using

Question - Jennifer is a CPA and a single taxpayer using the standard deduction. In 2018, her CPA practice generates net income of $162,000 and she has no other income or losses. Jennifer's taxable income before the QBI ...

Question - yancey co receives 300000 when it issues a

Question - Yancey Co. receives $300,000 when it issues a $300,000, 10%, mortgage note payable to finance the construction of a building at December 31, 2017. The terms provide for annual installment payments of $50,000 o ...

Question - domingo entity entered into a contract to

Question - Domingo Entity entered into a contract to exchange a liability. However, this particular liability does not have a quoted price in Domingo's principle market. Sabado Entity holds an asset similar to the liabil ...

Assessment - research report and presentationpurpose of the

Assessment - Research Report and Presentation Purpose of the assessment (with ULO Mapping) This assignment assesses the Unit Learning Outcome ‘b-d'and ‘g'; students should be able to demonstrate their achievements in the ...

Question - having trouble understanding the below problem

Question - Having trouble understanding the below problem. After reviewing material, I still cannot determine answer. Consider the following example. Bonds with a term of 5 years and face value of $1,000,000 are issued o ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Accounting Basics Expert