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At January 1, 2018, Hly Mountain Flagpoles had Accounts Receivable of $27,000, and Allowance for Bad Debes had a credit balance of $4,000. During the year, Hilly Mountain Flagpoles recorded the following: Click the icon to view the transactions) Read the requirements Requirement 1. Journalize Hilly's transactions that occurred during 2018. The company uses the allowance method Record debts first, then credits. Select the explanation on...
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Nimble Investments completed the following investment transactions during 2018 (Click the icon to view the investment transactions.) Read the requirements Requirement 1. Journalize Nimble's investment transactions. Explanations are not required. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. If no entry is required, select "No entry required on the first line of the Accounts and Explanation column and leave the remaining bells blank.) Begin by joumalizing Nimble's investment on January 5,...
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At January 1, 2018, Purple Mountain Flagpoles had Accounts Receivable of $27,000, and Allowance for Bad Debts had a credit balance of $3,000. During the year, Purple Mountain Flagpoles recorded the following: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Journalize Purple's transactions that occurred during 2018. The company uses the allowance method. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) (a.) Sales of $182,000 ($158,000 on...
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McDonough Construction, Inc., completed the following transactions during August 2018, its first month of operations: (Click the icon to view the transactions.) Read the requirements, Requirement 1. Record transactions in the journal. Explanations are not required. (Record debits first, then credits. Exclude explanations from any journal entries.) Aug 2: Sold $85,000 of common stock to D.J. McDonough to start the construction business. Journal Entry Date Accounts Debit Credit Aug 0 Requirements Aug 3: Paid monthly office rent, $1,000. Journal Entry...
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Dreyden Investments completed the following investment transactions during 2018: (Click the icon to view the investment transactions.) Read the requirements. Requirement 1. Journalize Dreyden's investment transactions. Explanations are not required. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. If no entry is required, select "No entry required" on the first line of the Accounts and Explanation column and leave the remaining cells blank.) Begin by journalizing Dreyden's...
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On January 1, 2018, Cooley, Inc. decides to invest in 8,750 shares of Yearling stock when the stock is selling for $11 per share. On June 1, 2018. Yearling paid a $1.20 per share cash dividend to stockholders. On December 31, 2018, Yearling reports net income of $70,000 for 2018. Assume Yearling has 25,000 shares of voting stock outstanding during 2018 and Cooley has significant influence over Yearling Read the requirements Requirement 1. Identify what type of investment the Yearling...
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Manchester Today Publishers completed the following investment transactions during 2018 and 2019: A (Click the icon to view the transactions.) Requirements 1. Journalize Manchester Today's investment transactions. Explanations are not required. 2. On December 31, 2018, how would the Golden stock be classified and at what value would it be reported on the balance sheet? Requirement 1. Journalize Manchester's investment transactions. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries. If no entry is required,...
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On February 1, 2018. Lee Co. decides to invest excess cash of 518,800 by purchasing a Hart, Inc. bond at face value. At year-end, December 31, 2018, the fair value of the Hart bond was $21,500. The investment is categorized as a trading debt investment Read the requirements. Requirement 1. Joumalize the transactions for Lee's investment in Hart, Inc. for 2018 Record debits first, then credits. Select the explanation on the last line of the journal entry table. If no...
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Requirement 1. Journalize Windy's transactions that occurred during 2018. The company uses the allowance method. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) (a.) Sales of $178,000 ($162,000 on account: $16,000 for cash). Ignore Cost of Goods Sold. (Prepare a single compound journal entry) Date Accounts and Explanation Debit Credit 0 Requirements 2018 1. Journalize Windy's transactions that occurred during 2018. The company uses the allowance method. Post Windy's transactions to...
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Selk Steel Co., which began operations on January 4, 2017, had the
following subsequent transactions and events in its long-term
investments
Selk Steel Co., which began operations on January 4, 2017, had the following subsequent transactions and events in its long-term investments. 2017 Jan. 5 Selk purchased 50,000 shares (25% of total) of Kildaire's common stock for $1,200,000. Oct. 23 Kildaire declared and paid a cash dividend of $4.40 per share. Dec. 31 Kildaire's net income for 2017 is $1,284,000,...
Thank you, all information needed for this question is given
in the top banner.
At January 1, 2018, Hly Mountain Flagpoles had Accounts Receivable of $27,000, and Allowance for Bad Debes had a credit balance of $4,000. During the year, Hilly Mountain Flagpoles recorded the following: Click the icon to view the transactions) Read the requirements Requirement 1. Journalize Hilly's transactions that occurred during 2018. The company uses the allowance method Record debts first, then credits. Select the explanation on...
Nimble Investments completed the following investment transactions during 2018 (Click the icon to view the investment transactions.) Read the requirements Requirement 1. Journalize Nimble's investment transactions. Explanations are not required. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. If no entry is required, select "No entry required on the first line of the Accounts and Explanation column and leave the remaining bells blank.) Begin by joumalizing Nimble's investment on January 5,...
At January 1, 2018, Purple Mountain Flagpoles had Accounts Receivable of $27,000, and Allowance for Bad Debts had a credit balance of $3,000. During the year, Purple Mountain Flagpoles recorded the following: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Journalize Purple's transactions that occurred during 2018. The company uses the allowance method. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) (a.) Sales of $182,000 ($158,000 on...
McDonough Construction, Inc., completed the following transactions during August 2018, its first month of operations: (Click the icon to view the transactions.) Read the requirements, Requirement 1. Record transactions in the journal. Explanations are not required. (Record debits first, then credits. Exclude explanations from any journal entries.) Aug 2: Sold $85,000 of common stock to D.J. McDonough to start the construction business. Journal Entry Date Accounts Debit Credit Aug 0 Requirements Aug 3: Paid monthly office rent, $1,000. Journal Entry...
Please answer all parts
Dreyden Investments completed the following investment transactions during 2018: (Click the icon to view the investment transactions.) Read the requirements. Requirement 1. Journalize Dreyden's investment transactions. Explanations are not required. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. If no entry is required, select "No entry required" on the first line of the Accounts and Explanation column and leave the remaining cells blank.) Begin by journalizing Dreyden's...
On January 1, 2018, Cooley, Inc. decides to invest in 8,750 shares of Yearling stock when the stock is selling for $11 per share. On June 1, 2018. Yearling paid a $1.20 per share cash dividend to stockholders. On December 31, 2018, Yearling reports net income of $70,000 for 2018. Assume Yearling has 25,000 shares of voting stock outstanding during 2018 and Cooley has significant influence over Yearling Read the requirements Requirement 1. Identify what type of investment the Yearling...
Manchester Today Publishers completed the following investment transactions during 2018 and 2019: A (Click the icon to view the transactions.) Requirements 1. Journalize Manchester Today's investment transactions. Explanations are not required. 2. On December 31, 2018, how would the Golden stock be classified and at what value would it be reported on the balance sheet? Requirement 1. Journalize Manchester's investment transactions. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries. If no entry is required,...
On February 1, 2018. Lee Co. decides to invest excess cash of 518,800 by purchasing a Hart, Inc. bond at face value. At year-end, December 31, 2018, the fair value of the Hart bond was $21,500. The investment is categorized as a trading debt investment Read the requirements. Requirement 1. Joumalize the transactions for Lee's investment in Hart, Inc. for 2018 Record debits first, then credits. Select the explanation on the last line of the journal entry table. If no...
Requirement 1. Journalize Windy's transactions that occurred during 2018. The company uses the allowance method. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) (a.) Sales of $178,000 ($162,000 on account: $16,000 for cash). Ignore Cost of Goods Sold. (Prepare a single compound journal entry) Date Accounts and Explanation Debit Credit 0 Requirements 2018 1. Journalize Windy's transactions that occurred during 2018. The company uses the allowance method. Post Windy's transactions to...
Selk Steel Co., which began operations on January 4, 2017, had the
following subsequent transactions and events in its long-term
investments
Selk Steel Co., which began operations on January 4, 2017, had the following subsequent transactions and events in its long-term investments. 2017 Jan. 5 Selk purchased 50,000 shares (25% of total) of Kildaire's common stock for $1,200,000. Oct. 23 Kildaire declared and paid a cash dividend of $4.40 per share. Dec. 31 Kildaire's net income for 2017 is $1,284,000,...