Examples of XYZ Affair in the following topics:
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- The XYZ Affair refers to the bribes demanded by French agents in the negotiating dispatches to cease French seizures of American vessels.
- Since Adams omitted the names of these French agents in the dispatches, referring to them as "X, Y, and Z", this became known as the XYZ Affair.
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- Despite the XYZ Affair and the Quasi War, which had incited francophobic sentiment in the majority of the American public, Democrat-Republicans remained pro-French and outspoken critics of the Federalist administration.
- The Federalists, on the other hand, were suspicious of the Democrat-Republican party's affinity for France, especially since in the released dispatches of the XYZ affair, agent "Y" had boasted of the existence of a "French" party in American politics.
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- Because Adams omitted the names of the French agents in the dispatches, referring to them as "X, Y, and Z," the incident became known as the "XYZ Affair."
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- The XYZ Affair and the Quasi-War incited Francophobic sentiment in the majority of the American public; however, Democratic-Republicans remained supportive on the French and outspoken critics of the Federalist administration, which they believed was unconstitutionally developing a tyrannical centralized government.
- This suspicion was heightened when the dispatches of the XYZ Affair were released, and agent "Y" boasted of the existence of a "French" party in American politics.
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- The following journal entries are made by ABC to record the investment in XYZ:
- DR - Investment in XYZ Corporation USD 80,000 (80,000 shares * USD 1 market price/share)
- Journal entry to account for the pro-rata share of XYZ annual income:
- DR - Investment in XYZ Corporation USD 30,000 (100,000 net income * .30)
- Journal entry to account for the pro-rata share of XYZ dividends:
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- ABC records a journal entry for the purchase by debiting Investment in XYZ Corp. for USD 50,000 and crediting Cash for USD 50,000.
- The investment in XYZ Corporation is reported at cost in the asset section of the balance sheet.
- Assume XYZ Corporation declares a dividend of USD 1 per share.
- The investment in XYZ Corporation is reported at cost in the asset section of the balance sheet.
- Assume XYZ Corporation declares a dividend of USD 1 per share.
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- The following is an example of how to calculate consolidated net income -- assume ABC Corporation owns 80% of XYZ Corporation; the remaining 20% is a non-controlling ownership interest.
- Net Income for 201X for ABC is USD 20,000 and for XYZ net income is USD 8,000.
- ABC's net income for the year includes 80% of XYZ's net income, or USD 6,400.
- The consolidated net income for both companies after this adjustment is USD 21,600 (20,000 - 6,400 + XYZ's total net income of 8,000).
- Therefore, consolidated income for ABC and its controlling interest in XYZ is USD 20,000 (21,600 - 1,600).
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- An example of how to determine fair value can involve the purchase of company shares of less than 20% total equity -- assume ABC Corporation purchases 10% of XYZ's Corporation's common stock, or 50,000 shares.
- ABC records a journal entry for the purchase by debiting Investment in XYZ Corp. for USD 50,000 and crediting Cash for USD 50,000.
- An example of how to determine fair value can involve the purchase of company shares of less than 20% total equity -- assume ABC Corporation purchases 10% of XYZ's Corporation's common stock, or 50,000 shares.
- ABC records a journal entry for the purchase by debiting Investment in XYZ Corp. for USD 50,000 and crediting Cash for USD 50,000.
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- For example, Company XYZ enters into a 10-year swap agreement with a dealer.
- If Company XYZ liquidates the swap, the company must receive $61.9 million to sell the swap.
- Company XYZ benefited because the company is exchanging dollars for appreciating euros.
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- Company XYZ enters into a 5-year swap agreement with a dealer, and four years have passed.