Advanced Accounting, 12th Edition by Joe Ben Hoyle, Thomas Schaefer, Timothy Doupnik

By Joe Ben Hoyle, Thomas Schaefer, Timothy Doupnik

The technique utilized by Hoyle, Schaefer, and Doupnik within the re-creation permits scholars to imagine seriously approximately accounting, simply as they're going to do whereas getting ready for the CPA examination and of their destiny careers. With this article, scholars achieve a well-balanced appreciation of the Accounting career. As Hoyle 12e introduces them to the field’s many facets, it usually specializes in earlier controversies and current resolutions. The textual content keeps to teach the improvement of economic reporting as a made from excessive and thought of debate that keeps this day and into the long run. The writing variety of the 11 past versions has been hugely praised. scholars simply understand bankruptcy options end result of the conversational tone used during the ebook. The authors have made each attempt to make sure that the writing sort continues to be enticing, energetic, and constant which has made this article the industry major textual content within the complex Accounting industry. The twelfth version contains an elevated integration of IFRS in addition to up to date accounting criteria.

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To record sale of one-fourth of investment in Bottom Company (1/4 3 $336,000 5 $84,000). 110,000 84,000 26,000 After the sale is completed, Top continues to apply the equity method to this investment based on 30 percent ownership rather than 40 percent. However, if the sale had been of sufficient magnitude to cause Top to lose its ability to exercise significant influence over Bottom, the equity method would cease to be applicable. For example, if Top Company’s holdings were reduced from 40 percent to 15 percent, the equity method might no longer be appropriate after the sale.

To record the 2016 dividend declaration by Small Company ($50,000 3 40%). Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . Dividend Receivable . . . . . . . . . . . . . . . . . . . . To record collection of the cash dividend. LO 1-5b Understand the financial reporting consequences for investee other comprehensive income. 52,000 52,000 20,000 20,000 20,000 20,000 Reporting Investee Other Comprehensive Income and Irregular Items In many cases, reported net income and dividends sufficiently capture changes in an investee’s owners’ equity.

Investment in Little Company . . . . . . . . . . . . . . . . . To record a dividend declaration by Little Company ($50,000 3 20%). Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . Dividend Receivable . . . . . . . . . . . . . . . . . . . . . To record collection of the cash dividend. 40,000 40,000 10,000 10,000 10,000 10,000 In the first entry, Big accrues income based on the investee’s reported earnings.

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