ACC 557 Week 8 Chapter 12 ( E12-7 , E12-8 , E12-12 , P12-2A ) FOR MORE CLASSES VISIT www . acc557tutor . com
preferred shareholders will receive 1 / 10th of what the common shareholders will receive .
preferred shareholders will receive the entire $ 60,000 .
preferred shareholders will receive $ 30,000 and the common shareholders will receive $ 30,000 .
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ACC 557 Week 8 Chapter 12 ( E12-7 , E12-8 , E12-12 , P12-2A ) FOR MORE CLASSES VISIT www . acc557tutor . com
ACC 557 Week 8 Chapter 12 ( E12-7 , E12-8 , E12-12 , P12-2A )
E12-7 : On January 1 , Vince Corporation purchased a 25 % equity in Morelli Corporation for $ 180,000 . At December 31 , Morelli declared and paid a $ 60,000 cash dividend and reported net income of $ 200,000 . ............
a ) Journalize the transactions . ............
b ) Determine the amount to be reported as an investment in Morelli stock at December 31 . ............
E12-8 : Presented below are two independent situations . ............