Create journal entries of kash company

Reference no: EM1374816

Shown below are a few events and transactions of Kash Company.

2011
Jan. 2 Purchased 80,000 shares of Bushtex Co. general stock for $544,000 cash plus a broker's fee of $3,400 cash. Bushtex has 160,000 shares of general stock outstanding and its policies will be considerably influenced by Kash.
Sept. 1 Bushtex declared and paid a cash dividend of $3.40 per share.
Dec. 31 Bushtex announced that net income for the year is $1,110,400.

2012
June 1 Bushtex declared and paid a cash dividend of $3.65 per share.
Dec. 31 Bushtex announced that total income for the year is $1,244,800.
Dec. 31 Kash sold 16,000 shares of Bushtex for $368,100 cash.

Create journal entries to record the above transactions and events of Kash Company.
Date General Journal Debit Credit
Jan. 2, 2011

Sept. 1, 2011

Dec. 31, 2011

June 1, 2012

Dec. 31, 2012

Reference no: EM1374816

Questions Cloud

Explain how much safety inventory of cell phones : Weekly demand for Motorola cell phones at a Best Buy store is normally distributed. Explain how much safety inventory of cell phones should Best Buy carry. Illustrate what should its ROP be.

Evaluate what is allie''s basis in the land : Allie took the land subject to the $100,000 liability and Evaluate what is Allie's basis in the land?

Illustration on arguments found in the reading : Illustration on arguments found in the reading for this week, conclude the appropriate balance between unfettered free speech and the duties of public employees

Adjusting entry to report these investments at fair value : Interest revenue, Cash, Fair value adjustment-AFS (ST), Unrealized gain-equity, Unrealized loss-equity, Short-term investments-AFS(ST), Gain on sale of short-term investments, Loss on sale of short-term investments

Create journal entries of kash company : Create journal entries to record the above transactions and events of Kash Company.

Explain why is planning important to success of a project : Explain why is planning important to success of a project. When would you, as a manager, use strategic planning. When would you use management planning.

Utilizing single exponential smoothing with standard : Utilizing single exponential smoothing with standard deviation=0.2 if the forecast for January had been 70 calculate what the exponential forecast would have been for the remaining months through June.

From original question journal entries : all have a specific name that coordinates with a specific account- from who shares were purchased/which company or who/which company sold shares.

How many tickets should be overbooked to maximize profit : Off we go Airlines has a daily flight from Chicago to Las Vegas. how many tickets should be overbooked to maximize expected profit.

User Account

All Pages