Journalize Badger purchase of the stock

Assignment Help Accounting Basics
Reference no: EM132841230

Question - On January 10, 2012 Badger Co. purchased 30% of the outstanding stock of Crest Co. for $123,000. Crest paid total dividends to all shareholders of $15,000 on July 15. Crest had a net loss of $25,000 for 2012.

Required -

a. Journalize Badger's purchase of the stock, receipt of dividend and adjusting entry for the equity loss in Crest Co. Stock.

b. Compute the balance of investment in Crest CO. Stock for December 31, 2012.

Reference no: EM132841230

Questions Cloud

What purpose do non-compete agreements serve : -Other than being punitive, what purpose do non-compete agreements serve when low-level employees are required to sign them?
Why is whistleblowing a controversial activity : Why is whistleblowing a controversial activity? Do a quick google search and see if you can bring an examples to the class discussion.
How much did the parking sticker cost : After 5 months Jerry repaid $20.75 to cover the entire debt. How much did the parking sticker cost? Ben loaned Jerry money to pay for parking sticker at school.
Group identification development processes : Illustrate the three majority status group identification development processes and give an example of each.
Journalize Badger purchase of the stock : Journalize Badger's purchase of the stock, receipt of dividend and adjusting entry for the equity loss in Crest Co. Stock
How effective was the process for you : Have you ever worked in a situation where the clinical supervision model was used to look at problem situations? This could be either in a supervisory or peer.
What is the total of indirect costs allocated to obstetrics : The cost driver for employee benefits is the number of full-time equivalent employees. What is the total of indirect costs allocated to Obstetrics Services?
Identity group as well as toward people : First, identify your major group affiliations, including race and ethnicity, gender, and sexual orientation.
Prepare monthly monitoring report : Produce a monthly log by filling the spaces provided. This should be submitted by the 28th of every month during your placement

Reviews

Write a Review

Accounting Basics Questions & Answers

  How the average costing method plays into it

From what we have been learning when it comes to accounting for inventory under the FIFO, LIFO, and the average costing method, I just need the average costing.

  What dollar amount of supplies will be included

The January 1 inventory of supplies in an Internal Service Fund is $9,000. The fund purchases $23,000 of supplies during the year. The December 31 inventory of supplies is $6,000. If the pricing objective of the fund is to be achieved, what dollar..

  Large firms operating globally develop strategies based on

large firms operating globally develop strategies based on the type of industries and businesses in which they compete.

  Compute the total price and quantity variances for material

which produces a single product, has prepared the following standard cost sheet. Compute the total, price, and quantity variances for materials and labor.

  Calculate the debt-to-asset ratio

Mr. Joseph has identified five different companies in which he is interested in investing, Calculate the debt-to-asset ratio

  Nicole organized a new corporation the corporation began

nicole organized a new corporation. the corporation began business on april 1 of year 1. she made the following

  Calculate the withholding taxes and the gross amount

Youngston Company (a Utah employer) wants to give a holiday bonus check of $750 to each employee.

  What is meant by dilution of earnings per share

Karen Company had 105,000 shares of common stock outstanding on January 1, 2011. Compute basic and diluted earnings per share for 2011

  What type of interest has Thomas acquired

Assume in 2020 Thomas produces and sells 15,200 BBLs of oil for total gross revenue of $836,000, What type of interest has Thomas acquired

  On january 1 2013 hi and lois company purchased 13 bonds

on january 1 2013 hi and lois company purchased 13 bonds having a maturity value of 510100 for 568109.95. the bonds

  What are an auditor documentation requirements

What are an auditor's documentation requirements concerning an entity's internal control system and the assessed level of control risk

  Prepare a retained earnings statement for the fiscal year

Atlas Pumps Corporation, a manufacturer of industrial pumps, Prepare a retained earnings statement for the fiscal year ended January 31, 2014

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd