Presented below are two independent situations 1 chicory

Assignment Help Accounting Basics

Reference no: EM13612995

Presented below are two independent situations. 1. Chicory Cosmetics acquired 15% of the 105,400 shares of common stock of Racine Fashion at a total cost of $15 per share on March 18, 2014. On June 30, Racine declared and paid a $72,800 dividend. On December 31, Racine reported net income of $114,950 for the year. At December 31, the market price of Racine Fashion was $17 per share. The stock is classified as non-trading. 2. Frank, Inc., obtained significant influence over Nowak Corporation by buying 30% of Nowak's 22,300 outstanding shares of common stock at a total cost of $5 per share on January 1, 2014. On June 15, Nowak declared and paid a cash dividend of $35,300. On December 31, Nowak reported a net income of $86,100 for the year. Prepare all the necessary journal entries for 2014 for

(a) Chicory Cosmetics and

(b) Frank, Inc.

Reference no: EM13612995

Questions Cloud

Marlin companys december 31 year-end unadjusted trial : marlin companys december 31 year-end unadjusted trial balance shows a 24000 balance in notes receivable. this balance

Suppose you throw a 0053-kg ball with a speed of 113 ms and : suppose you throw a 0.053-kg ball with a speed of 11.3 ms and at an angle of 31.5deg above the horizontal from a

Suppose we select an srs of size n 100 from a large : suppose we select an srs of size n 100 from a large population having proportion p of successes. let p be the

At december 31 2014 the trading securities for oglesbee inc : at december 31 2014 the trading securities for oglesbee inc. are as follows. security cost fair value a 17600 16400 b

Presented below are two independent situations 1 chicory : presented below are two independent situations. 1. chicory cosmetics acquired 15 of the 105400 shares of common stock

If the cd rotates clockwise lets take clockwise rotation as : if the cd rotates clockwise lets take clockwise rotation as positive at 500 revolutions per minute while the last song

Estimate the wave drag experienced by the airplane assume : the wing area of the lockheed f-104 straight-wing supersonic fighter airplane is approximately 210 ft2. the weight of

Floyd corporation had the following transactions pertaining : floyd corporation had the following transactions pertaining to debt investments. jan. 1 purchased 50 8 1700 petal co.

Comet orbits are highly elliptical a periodic comet : comet orbits are highly elliptical. a periodic comet orbiting a two solar mass star with an orbital period of 200 years

User Account

All Pages