or350 - Dan Wolff ORIE 350 Section 4 1) i) 1/12/2006 ii)...

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Dan Wolff ORIE 350 Section 4 1) i) 1/12/2006 Investment in Equity Affilliate 120,000 Cash 120,000 ii) 11/8/2006 Cash 12,000 Investment in Equity Affilliate 12,000 iii) 12/31/2006 Investment in Equity Affilliate 30,000 Earnings in Equity Affiliate 30,000 iv) 1/8/2007 Cash 140,000 Investment 120,000 Gain on Sale 20,000 2) Rayburn Kanodia R+K Consolidated Investment in Kanodia 1,200,000 1,200,000 Assets 2,300,000 700,000 3,000,000 3,000,000 Goodwill 660,000 Total Assets $3,500,00 0 $700,00 0 $4,200,000 $3,660,000 Liabilities 900,000 160,000 1,060,000 1,060,000 CC 1,400,000 300,000 1,700,000 1,400,000 RE 1,200,000 240,000 1,440,000 1,200,000 $35,000 $700,00 0 $735,000 $3,660,000
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5) AR 327,60 0 3,600 18,000 306,00 0 Machinery 776,400 463,200 127,20 0 1,112,40 0 Allow. Unc. Acc. 20,400 3,600 2,400 19,200 AP 126,00 0 153,360 279,360 Preferred Stock 120,00 0 12,000 108,00 0 Retained Earn. 321,60 0 1,200 234,000 48,000 506,400 Inventory 645,60 0 66,000 579,60 0 Leasehold Imp.
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or350 - Dan Wolff ORIE 350 Section 4 1) i) 1/12/2006 ii)...

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