On january 2 todd company acquired 40 of the outstanding

Assignment Help Accounting Basics

Reference no: EM13595340

1. On October 1, 2009, Marcus Corporation purchased $20,000 of 6% bonds of Roberts Corporation, due in 8 1/4 years. The bonds were purchased at a price of $17,561 plus interest of $300 accrued from July 1, 2009, the date of the last semi-annual interest payments. Journalize the purchase of the bonds plus interest.

2. On January 2, Todd Company acquired 40% of the outstanding stock of McGuire Company for $205,000. For the year ending, December 31, McGuire earned income of $48,000 and paid dividends of $14,000.
Prepare the entries for Todd Compaany for the purchase of the stock, share of McGuire income and dividends received from McGuire.

3. Fortune Corporation's comparative balance sheet for current assets and liabilities was as follows:

Dec 31,2010:
Accounts receivable 7,500...Inventory 11,500...Accounts payable 4,300...dividends payable 4,000.
Dec 31,2009:
Accounts receivable 5,200...Inventory 16,000...Accounts payable 5,200...dividends payable 3,000.
Net income was $65,000. Prepare the cash flows from operating activities section of the Statement of Cash Flows.

Reference no: EM13595340

Questions Cloud

If solute camphor assigned were known determination of : if solute camphor assigned were known determination of the molar mass via frezzing -point depression could determine

An unknown molecule contains only iodine and fluorine and : an unknown molecule contains only iodine and fluorine and it is 57.2 i by mass. what is the electron domain geometry of

Abigail leon began working with new river inc as an intern : abigail leon began working with new river inc. as an intern during her final year of college. the atmosphere at the

Draw all constitutional isomers of c3h6o for each of the : draw all constitutional isomers of c3h6o. for each of the constitutional isomers show possible stereoisomers. are the

On january 2 todd company acquired 40 of the outstanding : 1. on october 1 2009 marcus corporation purchased 20000 of 6 bonds of roberts corporation due in 8 14 years. the bonds

What volume of water should be added to 600 ml of ethanol : what volume of water should be added to 600 ml of ethanol in order to have a solution that boils at 95 degrees celsius?

Calculate the molality of c2h5oh in a water solution which : calculate the molality of c2h5oh in a water solution which is prepare by mixing 50.0 ml of c2h5oh with 100.0 ml of h2o

How many grams of naphthalene c10h8 must be added to 2500 g : question how many grams of naphthalene c10h8 must be added to 25.00 g of ccl4 so that the vapor pressure of ccl4 over

Singh and smythe is an architectural firm that provides : singh and smythe is an architectural firm that provides services for residential construction projects. the data

User Account

All Pages