Homework Answers
| Date | Accounts titles and explanation | Debit | Credit |
| Jan. 1 | Stock investment | $180,000 | |
| ... Cash | $180,000 | ||
| (To record the investment) | |||
| Dec 31 | Cash ($60,000 * 25%) | $15,000 | |
| ... Stock investment | $15,000 | ||
| (To record the dividend) | |||
| Dec. 31 | Stock investment ($200,000 * 25%) | $50,000 | |
| ... Revenue from stock investment | $50,000 | ||
| (To record the revenue from stock investment) |
(b)
| Investment in Helbert corporation, January 1 | $180,000 |
| (-) Dividend received | $15,000 |
| (+) Revenue from stock investment | $50,000 |
| Investment in Helbert corporation, December 31 | $215,000 |
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E16-7 On January 1, Zabel Corporation purchased a 25% equity in Helbert Corporation for $180,000. At...
On January 1, Zabel Corporation purchased a 25% equity in Helbert Corporation for $181,500. At December...
On January 1, Zabel Corporation purchased a 25% equity in Helbert Corporation for $181,500. At December 31, Helbert declared and paid a $46,600 cash dividend and reported net income of $192,000. Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter o for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and...
On January 1, Zabel Corporation purchased a 25% equity in Helbert Corporation for $167,000. At December...
On January 1, Zabel Corporation purchased a 25% equity in
Helbert Corporation for $167,000. At December 31, Helbert declared
and paid a $46,400 cash dividend and reported net income of
$231,000.
Journalize the transactions. (Credit account titles
are automatically indented when amount is entered. Do not indent
manually. If no entry is required, select "No entry" for the
account titles and enter 0 for the amounts. Record journal entries
in the order presented in the problem.)
Date Account Titles and...
On January 1, Zabel Corporation purchased a 25% equity in Helbert Corporation for $167,000. At December...
On January 1, Zabel Corporation purchased a 25% equity in
Helbert Corporation for $167,000. At December 31, Helbert declared
and paid a $46,400 cash dividend and reported net income of
$231,000.
Journalize the transactions. (Credit account titles are
automatically indented when the amount is entered. Do not indent
manually. If no entry is required, select "No entry" for the
account titles and enter 0 for the amounts. Record journal entries
in the order presented in the problem.)
Date Account...
On January 1 Jaraih Corporation purchased a 25% equity in Peaceman Corporation for $210,000. At December 31 Peaceman dec...
On January 1 Jaraih Corporation purchased a 25% equity in Peaceman Corporation for $210,000. At December 31 Peaceman declared and paid a $60,000 cash dividend and reported net income of $200,000. Instructions (a) Journalize the transactions （show the steps please)
Exercise 16-07 a-b (Part Level Submission) (Video) On January 1, Sandhill Corporation purchased a 25% equity...
Exercise 16-07 a-b (Part Level Submission) (Video) On January 1, Sandhill Corporation purchased a 25% equity in Helbert Corporation for $167,000. At December 31, Helbert declared and paid a $46,400 cash dividend and reported net income of $231,000. Journalize the transactions.
42) On January 1 Jaraih Corporation purchased a 25% equity in Peaceman Corporation for $210,000. At...
42) On January 1 Jaraih Corporation purchased a 25% equity in Peaceman Corporation for $210,000. At December 31 Peaceman declared and paid a $60,000 cash dividend and reported net income of $200,000. Instructions (a) Journalize the transactions 43) At December 31, 2020, the trading securities for Paul Company are as follows: Security AXZ BKY Cost $116,000 134,000 $250.000 Fair Value $120,000 132,000 $252.000
1) 2) 3) 4) Exercise 12-7 (Part Level Submission) On January 1, Zabel Corporation purchased a...
1)
2)
3)
4)
Exercise 12-7 (Part Level Submission) On January 1, Zabel Corporation purchased a 25% equity in Helbert Corporation for $186,500. At December 31, Helbert declared and paid a $52,100 cash dividend and reported net income of $195,000. (a) Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter o for the amounts.) Date Account Titles and...
Prepe Stock P11.4A (LO 3,4) On January 1, 2020, Geffrey Corporation had the following stockholders' equity...
Prepe Stock P11.4A (LO 3,4) On January 1, 2020, Geffrey Corporation had the following stockholders' equity accounts. Common Stock ($20 par value, 60,000 shares issued and outstanding) $1,200,000 Paid-in Capital in Excess of Par-Common Stock 200,000 Retained Earnings 600,000 During the year, the following transactions occurred. Feb. 1 Declared a Sl cash dividend per share to stockholders of record on February 13. paya March 1. Mar. 1 Paid the dividend declared in February. Apr. 1 Announced a 2-for-1 stock split....
em 2. On January 1, 2012, Kristen Corporation had the following stockholders' equity accounts. Common Stock...
em 2. On January 1, 2012, Kristen Corporation had the following stockholders' equity accounts. Common Stock ($20 par value, 60,000 shares issued and outstanding) $1,200,000 Paid-in Capital in Excess of Par-Common Stock 200,000 Retained Earnings 600,000 During the year, the following transactions occurred. Feb. 1 Declared a $1 cash dividend per share to stockbolders of record on February 15, pay. able March 1. Mar. 1 Paid the dividend declared in February. Apr. 1 Announced a 2-for-1 stock split. Prior to...
P14-1B On January 1, 2012, Syed Corporation had the following stockholders' equity accounts. Common Stock ($5...
P14-1B On January 1, 2012, Syed Corporation had the following stockholders' equity accounts. Common Stock ($5 par value, 200,000 shares issued and outstanding) $1,000,000 Paid-in Capital in Excess of Par-Common Stock 200,000 Retained Earnings 840,000 During the year, the following transactions occurred. Declared a $1 cash dividend per share to stockholders of record on January 31, payable February 15. Jan. 15 Feb. Paid the dividend declared in January. 15 Apr. 15 Declared a 10 % stock dividend to stockholders of...
On January 1, Zabel Corporation purchased a 25% equity in Helbert Corporation for $181,500. At December 31, Helbert declared and paid a $46,600 cash dividend and reported net income of $192,000. Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter o for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and...
On January 1, Zabel Corporation purchased a 25% equity in
Helbert Corporation for $167,000. At December 31, Helbert declared
and paid a $46,400 cash dividend and reported net income of
$231,000.
Journalize the transactions. (Credit account titles
are automatically indented when amount is entered. Do not indent
manually. If no entry is required, select "No entry" for the
account titles and enter 0 for the amounts. Record journal entries
in the order presented in the problem.)
Date Account Titles and...
On January 1, Zabel Corporation purchased a 25% equity in
Helbert Corporation for $167,000. At December 31, Helbert declared
and paid a $46,400 cash dividend and reported net income of
$231,000.
Journalize the transactions. (Credit account titles are
automatically indented when the amount is entered. Do not indent
manually. If no entry is required, select "No entry" for the
account titles and enter 0 for the amounts. Record journal entries
in the order presented in the problem.)
Date Account...
42) On January 1 Jaraih Corporation purchased a 25% equity in Peaceman Corporation for $210,000. At December 31 Peaceman declared and paid a $60,000 cash dividend and reported net income of $200,000. Instructions (a) Journalize the transactions 43) At December 31, 2020, the trading securities for Paul Company are as follows: Security AXZ BKY Cost $116,000 134,000 $250.000 Fair Value $120,000 132,000 $252.000
1)
2)
3)
4)
Exercise 12-7 (Part Level Submission) On January 1, Zabel Corporation purchased a 25% equity in Helbert Corporation for $186,500. At December 31, Helbert declared and paid a $52,100 cash dividend and reported net income of $195,000. (a) Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter o for the amounts.) Date Account Titles and...
Prepe Stock P11.4A (LO 3,4) On January 1, 2020, Geffrey Corporation had the following stockholders' equity accounts. Common Stock ($20 par value, 60,000 shares issued and outstanding) $1,200,000 Paid-in Capital in Excess of Par-Common Stock 200,000 Retained Earnings 600,000 During the year, the following transactions occurred. Feb. 1 Declared a Sl cash dividend per share to stockholders of record on February 13. paya March 1. Mar. 1 Paid the dividend declared in February. Apr. 1 Announced a 2-for-1 stock split....
em 2. On January 1, 2012, Kristen Corporation had the following stockholders' equity accounts. Common Stock ($20 par value, 60,000 shares issued and outstanding) $1,200,000 Paid-in Capital in Excess of Par-Common Stock 200,000 Retained Earnings 600,000 During the year, the following transactions occurred. Feb. 1 Declared a $1 cash dividend per share to stockbolders of record on February 15, pay. able March 1. Mar. 1 Paid the dividend declared in February. Apr. 1 Announced a 2-for-1 stock split. Prior to...
P14-1B On January 1, 2012, Syed Corporation had the following stockholders' equity accounts. Common Stock ($5 par value, 200,000 shares issued and outstanding) $1,000,000 Paid-in Capital in Excess of Par-Common Stock 200,000 Retained Earnings 840,000 During the year, the following transactions occurred. Declared a $1 cash dividend per share to stockholders of record on January 31, payable February 15. Jan. 15 Feb. Paid the dividend declared in January. 15 Apr. 15 Declared a 10 % stock dividend to stockholders of...
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