Shown below are a few events and transactions of kash

Reference no: EM13370389

Shown below are a few events and transactions of Kash Company.

2011
Jan. 2 Purchased 80,000 shares of Bushtex Co. general stock for $544,000 cash plus a broker's fee of $3,400 cash. Bushtex has 160,000 shares of general stock outstanding and its policies will be considerably influenced by Kash.
Sept. 1 Bushtex declared and paid a cash dividend of $3.40 per share.
Dec. 31 Bushtex announced that net income for the year is $1,110,400.

2012
June 1 Bushtex declared and paid a cash dividend of $3.65 per share.
Dec. 31 Bushtex announced that total income for the year is $1,244,800.
Dec. 31 Kash sold 16,000 shares of Bushtex for $368,100 cash.

Create journal entries to record the above transactions and events of Kash Company.
Date General Journal Debit Credit
Jan. 2, 2011

Sept. 1, 2011

Dec. 31, 2011

June 1, 2012

Dec. 31, 2012

Reference no: EM13370389

Questions Cloud

Consider that at the starting of the current year a company : consider that at the starting of the current year a company has a net gain-aoci of 60700000. at the same time assume

Quince interests is a partnership with a tax year that ends : quince interests is a partnership with a tax year that ends 30th september 2012. during that year potter a partner

In the present year orion corporation e amp p of 2 million : in the present year orion corporation e amp p of 2 million distributes all of its property in a total liquidation.

On 31st december 2011 rollo company held the subsequent : on 31st december 2011 rollo company held the subsequent short-term investments in its portfolio of available-for-sale

Shown below are a few events and transactions of kash : shown below are a few events and transactions of kash company.2011 jan. 2 purchased 80000 shares of bushtex co. general

From original question journal entriesnote none are simply : from original question journal entriesnote none are simply trading securities all have a specific name that coordinates

Marble had 2816 million in sales and 555 million in ending : marble had 2816 million in sales and 555 million in ending accounts receivable for present period. for the same period

Total 2008 gift of life insurance policy is 72000 annual : total 2008 gift of life insurance policy is 72000. annual exclusions are 24000 2 domes at 1200. present taxable gifts

Evaluate unit contribution margin and contribution margin : evaluate unit contribution margin and contribution margin ratiouse the subsequent data for problems 12349 amp10 luxury

User Account

All Pages