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Venus Co. purchased an investment in the common shares of Jupiter...
05) (SMARKS) A FIRM PURCHASED INVESTED IN) COMMON SHARES OF XYZ CO, WITH FOLLOWING DETAILS 2000...
05) (SMARKS) A FIRM PURCHASED INVESTED IN) COMMON SHARES OF XYZ CO, WITH FOLLOWING DETAILS 2000 NO OF COMMON SHARES BOUGHT BUYNIG PRICE 540 BROKERAGE CHARGES FOR ALL THE SHARES $200 JOURNALIZE THE FOLLOWING TRANSACTIONS JOURNALIZE PURCHASE OF INVESTMENT STOKKS AND CALCULATE CONT PER SHARE B CALCULATE COST PER SHARE EARNED S 3 PER SHARE AS DIVIDEND INCOME JOURNALIZE ENTRY C D THE FIRM SOLD SHARES TO ABC CO. WITH THE FOLLOWING DETAILS NO OF SHARES SOLD TO ABC CO....
Q5) (5 MARKS) A FIRM PURCHASED INVESTED IN) COMMON SHARES OF XYZ CO. WITH FOLLOWING DETAILS...
Q5) (5 MARKS) A FIRM PURCHASED INVESTED IN) COMMON SHARES OF XYZ CO. WITH FOLLOWING DETAILS NO OF COMMON SHARES BOUGHT 2500 BUYNIG PRICE $25 BROKERAGE CHARGES FOR ALL THE SHARES $250 JOURNALIZE THE FOLLOWING TRANSACTIONS А JOURNALIZE PURCHASE OF INVESTMENT STOCKS B CALCULATE COST PER SHARE EARNED S 4 PER SHARE AS DIVIDEND INCOME (JOURNALIZE ENTRY) THE FIRM SOLD SHARES TO ABC CO. WITH THE FOLLOWING DETAILS D NO OF SHARES SOLD TO ABC CO. 1800 BROKERAGE CHARGES FOR...
On September 1, 2020, Tech Company purchased 2,800 shares of common stock of Eagle Inc. for...
On September 1, 2020, Tech Company purchased 2,800 shares of common stock of Eagle Inc. for $280,000, while not obtaining significant influence over Eagle Inc. On November 1, 2020, Tech Company sold 1,400 shares of the Eagle Inc. stock for $105 per share and incurred brokerage fees of $672 on the sale. At December 31, 2020, Eagle Inc. declared and paid dividends of $5 per share. The fair value of the remaining investment in Eagle Inc. was $154,000 on December...
Purchased 50,000 of the 80,000 shares outstanding for The Natural Pharmacy Inc. Purchased 20,000 of 50,000...
Purchased 50,000 of the 80,000 shares outstanding for The Natural Pharmacy Inc. Purchased 20,000 of 50,000 shares outstanding for Metro Inc. Purchased 30,000 of 60,000 shares outstanding for Le Petite Boulangerie Inc. Purchased 40,000 of 75,000 shares outstanding for Wood Passion Ltd. problem 15-1A Non-strategic investments LO2, 3 CHECK FIGURE: 2. Feb 16, 2021, Investment Income = $5,415 Lie Large Inc. had the following transactions involving non-strategic investments during 2020. W mes of investmell. sualled PROBLEMS 2020 ing Paid $108,000...
Warren Co. purchased a call option on Echo common shares on Jan 7, 2020 for $360....
Warren Co. purchased a call option on Echo common shares on Jan 7, 2020 for $360. The call option is for 100 shares, and the strike price is $85 (which equals the price of an Echo share on the purchase date). The following data are available with respect to the call option. Date Market price of Echo shares Time value of call option March 31, 2020 $135 $160 What is the net effect of these call options on Warren Co.’s...
Ayayai Corp. has the following securities (all purchased in 2020) in its investment portfolio on December...
Ayayai Corp. has the following securities (all purchased in 2020) in its investment portfolio on December 31, 2020: 2,420 Anderson Corp. common shares, which cost $48,850; 12,100 Munter Ltd. common shares, which cost $580,700; and 6,360 King Corp. preferred shares, which cost $255,600. Their fair values at the end of 2020 were as follows: Anderson Corp. $50,980; Munter Ltd. $569,600; and King Corp. $255,100. In 2021, Ayayai completed the following transactions: 1. On January 15, sold 2,420 Anderson common shares...
Common stock versus warrant investment Personal Finance Problem Susan Michaels is evaluating the ...
Common stock versus warrant investment Personal Finance Problem Susan Michaels is evaluating the Burton Tool Company's common stock and warrants to choose the better investment. The firm's stock is currently selling for $51 per share, its warrants to purchase three shares of common stock at $46 per share are selling for $23. Ignoring transactions costs, Ms. Michaels has $8,600 to invest. She is quite optimistic with respect to Burton because she has certain "inside information about the firm's prospects with...
Warren Co. purchased a call option on Echo common shares on Jan 7, 2020 for $360....
Warren Co. purchased a call option on Echo common shares on Jan 7, 2020 for $360. The call option is for 100 shares, and the strike price is $85 (which equals the price of an Echo share on the purchase date). The following data are available with respect to the call option. Date Market price of Echo shares Time value of call option March 31, 2020 $140 $200 What is the net effect of these call options on Warren Co.'s...
Problem. During 2018, Largent Enterprises purchased stock as follows: May 17. Purchased 1,000 shares of Nugent...
Problem. During 2018, Largent Enterprises purchased stock as follows: May 17. Purchased 1,000 shares of Nugent common stock for 580 per share. July 12, Purchased 400 shares of Alfredo common stock at $60 per hare, plus a 5600 brokerage commission Largent accounts for these investments as securities available for sale. At December 31, 2018, the market values of the securities were as follows: Security Market Value per Share Nugent Alfredo Required: (1.) Prepare the journal entries to record the acquisition...
please full calculation and explanation 5. Mercury Corp. purchased a 25% interest in Saturn Inc. on...
please full calculation and explanation
5. Mercury Corp. purchased a 25% interest in Saturn Inc. on January 2, 2020. Other details pertaining to this investment follow: Purchase price of investment Carrying value of Saturn's net assets on January 2, 2020 Total dividends paid by Saturn on November 30, 2020 Net income for Saturn for the year ended December 31, 2020 11,865 43,944 237 771 Any excess of the cost of the investment over Mercury's share of Saturn's carrying amount can...
05) (SMARKS) A FIRM PURCHASED INVESTED IN) COMMON SHARES OF XYZ CO, WITH FOLLOWING DETAILS 2000 NO OF COMMON SHARES BOUGHT BUYNIG PRICE 540 BROKERAGE CHARGES FOR ALL THE SHARES $200 JOURNALIZE THE FOLLOWING TRANSACTIONS JOURNALIZE PURCHASE OF INVESTMENT STOKKS AND CALCULATE CONT PER SHARE B CALCULATE COST PER SHARE EARNED S 3 PER SHARE AS DIVIDEND INCOME JOURNALIZE ENTRY C D THE FIRM SOLD SHARES TO ABC CO. WITH THE FOLLOWING DETAILS NO OF SHARES SOLD TO ABC CO....
Q5) (5 MARKS) A FIRM PURCHASED INVESTED IN) COMMON SHARES OF XYZ CO. WITH FOLLOWING DETAILS NO OF COMMON SHARES BOUGHT 2500 BUYNIG PRICE $25 BROKERAGE CHARGES FOR ALL THE SHARES $250 JOURNALIZE THE FOLLOWING TRANSACTIONS А JOURNALIZE PURCHASE OF INVESTMENT STOCKS B CALCULATE COST PER SHARE EARNED S 4 PER SHARE AS DIVIDEND INCOME (JOURNALIZE ENTRY) THE FIRM SOLD SHARES TO ABC CO. WITH THE FOLLOWING DETAILS D NO OF SHARES SOLD TO ABC CO. 1800 BROKERAGE CHARGES FOR...
On September 1, 2020, Tech Company purchased 2,800 shares of common stock of Eagle Inc. for $280,000, while not obtaining significant influence over Eagle Inc. On November 1, 2020, Tech Company sold 1,400 shares of the Eagle Inc. stock for $105 per share and incurred brokerage fees of $672 on the sale. At December 31, 2020, Eagle Inc. declared and paid dividends of $5 per share. The fair value of the remaining investment in Eagle Inc. was $154,000 on December...
Purchased 50,000 of the 80,000 shares outstanding for The Natural Pharmacy Inc. Purchased 20,000 of 50,000 shares outstanding for Metro Inc. Purchased 30,000 of 60,000 shares outstanding for Le Petite Boulangerie Inc. Purchased 40,000 of 75,000 shares outstanding for Wood Passion Ltd. problem 15-1A Non-strategic investments LO2, 3 CHECK FIGURE: 2. Feb 16, 2021, Investment Income = $5,415 Lie Large Inc. had the following transactions involving non-strategic investments during 2020. W mes of investmell. sualled PROBLEMS 2020 ing Paid $108,000...
Ayayai Corp. has the following securities (all purchased in 2020) in its investment portfolio on December 31, 2020: 2,420 Anderson Corp. common shares, which cost $48,850; 12,100 Munter Ltd. common shares, which cost $580,700; and 6,360 King Corp. preferred shares, which cost $255,600. Their fair values at the end of 2020 were as follows: Anderson Corp. $50,980; Munter Ltd. $569,600; and King Corp. $255,100. In 2021, Ayayai completed the following transactions: 1. On January 15, sold 2,420 Anderson common shares...
Common stock versus warrant investment Personal Finance Problem Susan Michaels is evaluating the Burton Tool Company's common stock and warrants to choose the better investment. The firm's stock is currently selling for $51 per share, its warrants to purchase three shares of common stock at $46 per share are selling for $23. Ignoring transactions costs, Ms. Michaels has $8,600 to invest. She is quite optimistic with respect to Burton because she has certain "inside information about the firm's prospects with...
Warren Co. purchased a call option on Echo common shares on Jan 7, 2020 for $360. The call option is for 100 shares, and the strike price is $85 (which equals the price of an Echo share on the purchase date). The following data are available with respect to the call option. Date Market price of Echo shares Time value of call option March 31, 2020 $140 $200 What is the net effect of these call options on Warren Co.'s...
Problem. During 2018, Largent Enterprises purchased stock as follows: May 17. Purchased 1,000 shares of Nugent common stock for 580 per share. July 12, Purchased 400 shares of Alfredo common stock at $60 per hare, plus a 5600 brokerage commission Largent accounts for these investments as securities available for sale. At December 31, 2018, the market values of the securities were as follows: Security Market Value per Share Nugent Alfredo Required: (1.) Prepare the journal entries to record the acquisition...
please full calculation and explanation
5. Mercury Corp. purchased a 25% interest in Saturn Inc. on January 2, 2020. Other details pertaining to this investment follow: Purchase price of investment Carrying value of Saturn's net assets on January 2, 2020 Total dividends paid by Saturn on November 30, 2020 Net income for Saturn for the year ended December 31, 2020 11,865 43,944 237 771 Any excess of the cost of the investment over Mercury's share of Saturn's carrying amount can...
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