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On March 2, 2010, the Dawson Corporation acquired 5,000 common shares, representing a 1% interest in the Foreman Corporation, for $60,000. On May 1, 2010, Foreman issued a 20% stock dividend, and on December 31, 2010, the market value was $10 per share. On February 1, 2011, Dawson sold 1,500 shares for $12 per share.Required:Prepare journal entries for Dawson to record the acquisition, stock dividend, and sale of the shares.
vandall corporation manufactures and sells a single product. the company uses units as the measure of activity in its
the following transactions apply to x companysold merchandise for cash2119paid wages3377purchased new equipment for
dailey company issued 613500 10 15-year bonds on december 31 2013 for 588960. interest is payable annually on december
Karen, in forming a new corporation, transfers land to the corporation in exchange for 100 percent of the stock of the corporation. Karen's basis in the land is 275,000, the corporation assumes a liability on the property in the amount of 300,000...
leno company manufactures toasters. for the first 8 months of 2014 the company reported the following operating results
a the deferral of taxation on unrecognized gains from a nontaxable property transaction is1. is generally accomplished
nicole mackisey is thinking of forming her own spa business nicoles getaway spa ngs. nicole expects that she and two
Prepare an income statement, a statement of owner's equity, and a balance sheet and on the basis of the adjustment data in the work sheet, journalize the adjusting entries.
ending liabilities are 67000 beginning equity was 87000 common stock sold during year totaled 31000 expenses for the
anthony company uses a perpetual inventory system. it entered into the following purchases and sales transactions for
Assume the balance in the lease payable account is now $75,000 after amortizing the final $95,000 payment on the $625,000 capital lease in question 1. If the acutal residual value and the guaranteed residual value are the same, record the return o..
morning globe corporation uses a process costing system for its two production departments mixing and packaging. the
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