Reference no: EM132803897
Problem 1: Prepare Journal enteries, Income Statement, Statement of Retained Earnings and a balance-sheet.
Ginvold Co. began operating a subsidiary in on January 1, 2019 by acquiring all of the common stock for $50,000. They named the subsidiary Vingold, Inc., Vingold, Inc. immediately borrowed $120,000 on a five-year note with ten percent interest payable annually beginning on January 1, 2020. Vingold, Inc. purchased a building for $170,000. (This property had a ten-year anticipated life and no salvage value and was to be depreciated using the straight-line method. Vingold, Inc. rented the building for three years to a group of local doctors for $6,000 per month. In February, Vingold, Inc. purchased $50,000 of Widgets for resale. The seller gave the company short term credit with terms of Net due in 90 days. In March, Vingold, Inc. sold $40,000 of the Widgets at a total price of $60,000 on terms of net due in 31 days. In April, Vingold, Inc. received payment for the Widgets that they sold in March. Vingold, Inc. paid the balance due from the February purchase of the widgets. On October 1, Vingold, Inc. paid $5,000 for a building repair made on that date. By year-end, payments totaling $60,000 in rental payments had been received from the doctors. A cash dividend of $6,000 was transferred back to Ginvold on December 31, 2019. Any adjustment entries.
|
Describe adornos views on standardization
: Describe Adorno's views on standardization and pseudo-individualization. Share a unique example from pop culture (movies, songs, books, etc.)
|
|
Explain the differences between line and staff positions
: Explain the differences between line and staff positions? What are the advantages and disadvantages of high versus low administrative intensity?
|
|
What were the three types of real estate private equity
: What were the 3 types of real estate private equity vehicles discussed? What is the primary risk type pursued by illiquid open funds
|
|
Communication challenges in team collaboration share
: Consider team collaboration today. While understanding the five steps in team development including forming, storming, norming, performing
|
|
Prepare journal enteries for ginvold co
: Prepare Journal enteries, Income Statement, Statement of Retained Earnings and a balance-sheet. Ginvold Co. began operating a subsidiary in on January 1, 2019
|
|
Primary distinctions between race and ethnicity
: What are the primary distinctions between race and ethnicity? Which term do you prefer and why?
|
|
What would be some of the the difficulties they will face
: There are a lot of individuals that have addictions, whether they are drinking alcohol, eating chocolate, gambling on blackjack, buying plaid sport coats.
|
|
Prepare all general journal entries for three bonds issued
: Prepare all general journal entries for the three bonds issued and any interest accruals and payments for the fiscal year 2019
|
|
Find an adjusting entry for the note includes a
: November 1 to purchase inventory for the upcoming holiday season. On December 31, Ryan's fiscal year-end, an adjusting entry for the note includes a
|