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Chapter 10 and 12 Handout ANSWERS.docx
Chapter_10_and_12_Handout_ANSWERS.docx
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Page 4
Loss on sale of investment (+E, -SE)
................................................
5,100
Unrealized loss (+SE)
........................................................................
4,500
Investment in Liu, Inc. (-A)
..................................................................
67,500
+
Cash (A)
-
+
Investment in Liu (A)
-
2.
6,600
72,000
1.
1.
72,000
4,500
3.
4.
66,900
67,500
4.
-
Dividend Income (R)
+
6,600
2.
-
Unrealized Loss (SE)
+
+
Loss (E)
-
3.
4,500
4,500
4.
4.
5,100
M
12-16. (10 minutes)
Equity income on this investment is computed as the investee company (Pe
multiplied by the percentage of the company owned. In this case, equity ear
$600,000
40% = $240,000
Note that dividends are treated as a return of investment (
reduce the investm
by $80,000, computed as $200,000
40%),
and not as income.
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