User Account

All Pages

Make the general journal entry for january purchase

Assignment Help Financial Accounting
Reference no: EM132696138

Problem 1: On January 2, 2018, Alpaca Company purchased 14,000 shares of the stock of Zebra Company, and did not obtain significant influence. The investment is intended as a long-term investment. The stock was purchased for $12 per share, and represents a 10% ownership stake. Zebra Company made $55,000 of net income in 2018, and paid dividends of 50 cents per share on December 15, 2018. On December 31, 2018, Zebra Company's stock was trading on the open market for $15 per share at the end of the year. Use this information to prepare the General Journal entry(ies) (without explanation) for January 2 purchase and the December 15 & 31, 2018 record of income & gain/loss. If no entry is required then write "No Entry Required."

Reference no: EM132696138

Questions Cloud

Calculate the depreciation expense for the year : Greyhound Ltd purchased a new bus for $280,000. Calculate the depreciation expense for the 3rd year using each of the depreciation methods
Identify the role of sommy in the operation : Mr. Dwayne Tamai and Mrs. Debbie Tamai case of electronic harassment involved 15-year-old son, Billy, who took control of all of the electronic devices.
ISO affect the standards for network security : What do you think were the critical factors that fueled the need for IT governance? In what ways did ISO affect the standards for network security?
After-tax cost of debt-tokyo food supplies corporation : Tokyo Food Supplies Corporation sold an issue of 12-year bonds. The $975 each. The maturity value is $1,000 each and the coupon rate is 9% and paid annually.
Make the general journal entry for january purchase : Make the General Journal entry(ies) (without explanation) for January 2 purchase and the December 15 & 31, 2018 record of income & gain/loss
What are the security vulnerabilities of each : Propose and defend a topic for your final project. Write 500 words or more explaining why this topic is important for your peers to understand. Be focused.
Understand importance of information security policies : Understand the importance of information security policies and the role they play in business activities to ensure sound, secure information.
Calculate the required rate of return for mercury inc : Calculate the required rate of return for Mercury Inc., assuming that the risk free rate of return is 5%, the expected market return is 11 percent, and Mercury
Prepare the general journal entry to record the april : Alaska Trading Company issued $900,000 of 6%, Prepare the General Journal entry (without explanation) to record the April 1, 2019 bond issue

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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