User Account

All Pages

Make the journal entries for the original purchase

Assignment Help Accounting Basics
Reference no: EM132563273

Question - On February 12, Addison, Inc. purchased 6,000 shares of Lucas Company at $22 per share plus a $240 brokerage fee. This purchase represents less than 20% ownership of Lucas Company. On August 22, Lucas paid a dividend per share of $0.42. On November 10, 4,000 shares of Lucas stock were sold for $28 per share less a $160 brokerage fee.

Required - Make the journal entries for the original purchase, dividend, and sale. If an amount box does not require an entry, leave it blank.

Reference no: EM132563273

Questions Cloud

COM7006 IT Security Management Assignment : COM7006 IT Security Management Assignment Help and Solution, Arden University - Assessment Writing Service - Critically understand the fundamentals
Prepare the entries for Todd Company : Required - Prepare the entries for Todd Company for the purchase of the stock, share of McGuire income, and dividends received from McGuire
Build good and beneficial relationships : You mention to one of your neighbours that you have studied how to build good and beneficial relationships using some simple methods
Discuss benefits of virtualization software : Discuss the benefits of virtualization software, as described in the text. Do you agree/disagree with these benefits, or can you think of additional benefits
Make the journal entries for the original purchase : Required - Make the journal entries for the original purchase, dividend, and sale. If an amount box does not require an entry, leave it blank
Why does this approach to team-building work : Why does this approach to team-building work? How might the "jazz metaphor" be useful for team?
Journalize the entry to record the bond purchase : On September 1, Parsons Company purchased $84,000, 10-year, 7% government bonds at 100 plus accrued interest. Journalize the entry to record the bond purchase
Explain change management practices : Explain change management practices and the benefits of updating and implementing such practices.
Why is it critical for company managers : Why is it critical for company managers to have a clear strategic vision regarding their organization? Please explain in detail.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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