Homework Answers
| Jan 1 | Stock Investments | 181500 | ||
| Cash | 181500 | |||
| Dec 31 | Cash | 11650 | =46600*25% | |
| Stock Investments | 11650 | |||
| (To record dividends received) | ||||
| Dec 31 | Stock Investments | 48000 | =192000*25% | |
| Revenue from Stock Investments | 48000 | |||
| 2 | ||||
| Investment in Helbert, January 1 | 181500 | |||
| Less: Dividend received | -11650 | |||
| Add: Share of reported income | 48000 | |||
| Investment in Helbert, December 31 | 217850 |
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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 $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...
E16-7 On January 1, Zabel Corporation purchased a 25% equity in Helbert Corporation for $180,000. At...
E16-7 On January 1, Zabel Corporation purchased a 25% equity in Helbert Corporation for $180,000. At December 31Helbert declared and paid a $60,000 cash dividend and reported net income of $200,000 Instructions (a) Journalize the transactions. (b) Determine the amount to be reported as an investment in Helbert stock at December 31. Flow
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...
nment > Open Assignment THEI Question 2 Onlamary 1,2abel corporation purchased a 25% equity in Hb...
nment > Open Assignment THEI Question 2 Onlamary 1,2abel corporation purchased a 25% equity in Hb reported net income of $213,000 oter 15 tCorport on fr Siss,500. At December 31nd tidedand padamo oc ournalize the transactions. (Credit account titles are automatically select "No entry" for the account titles and enter o for amounts indented when amount is entered. Do not indent ulilyt ontry sqred the amounts. Record journal entries in the order presented ln the prolem Colun Account Titles and...
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.
Blue Inc. acquired 20% of the outstanding common stock of Theresa Kulikowski Inc. on December 31,...
Blue Inc. acquired 20% of the outstanding common stock of
Theresa Kulikowski Inc. on December 31, 2020. The purchase price
was $1,111,200 for 46,300 shares. Kulikowski Inc. declared and paid
an $0.80 per share cash dividend on June 30 and on December 31,
2021. Kulikowski reported net income of $788,000 for 2021. The fair
value of Kulikowski’s stock was $27 per share at December 31, 2021.
Assume that the security is a trading security.
Prepare the journal entries for Blue...
Un January 1, 2020, Pina Colada Corp. had the following stockholders' equity accounts Common Stock ($24...
Un January 1, 2020, Pina Colada Corp. had the following stockholders' equity accounts Common Stock ($24 par value, 59,000 shares issued and outstanding) $1,416,000 Paid-in Capital in Excess of Par-Common Stock 197,000 Retained Earnings 559,000 During the year, the following transactions occurred. Declared a $3 cash dividend per share to stockholders of record on February 15, payable March 1 Mar. " Paid the dividend declared in February Athird Apr. Announced a 2-for-1 stock split. Prior to the split, the market...
Pearl Inc. acquired 20% of the outstanding common stock of Theresa Kulikowski Inc, on December 31,...
Pearl Inc. acquired 20% of the outstanding common stock of Theresa Kulikowski Inc, on December 31, 2020. The purchase price was $1,294,800 for 49,800 shares. Kulikowski Inc. declared and paid an $0.75 per share cash dividend on June 30 and on December 31, 2021. Kulikowski reported net income of $764,000 for 2021. The fair value of Kulikowski's stock was $29 per share at December 31, 2021. Assume that the security is a trading security. Prepare the journal entries for Pearl...
Oriole Inc. acquired 20% of the outstanding common stock of Theresa Kulikowski Inc. on December 31,...
Oriole Inc. acquired 20% of the outstanding common stock of Theresa Kulikowski Inc. on December 31, 2020. The purchase price was $1,031,800 for 46,900 shares. Kulikowski Inc. declared and paid an $0.80 per share cash dividend on June 30 and on December 31, 2021. Kulikowski reported net income of $714,000 for 2021. The fair value of Kulikowski's stock was $25 per share at December 31, 2021. Assume that the security is a trading security. Prepare the journal entries for Oriole...
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...
E16-7 On January 1, Zabel Corporation purchased a 25% equity in Helbert Corporation for $180,000. At December 31Helbert declared and paid a $60,000 cash dividend and reported net income of $200,000 Instructions (a) Journalize the transactions. (b) Determine the amount to be reported as an investment in Helbert stock at December 31. Flow
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...
nment > Open Assignment THEI Question 2 Onlamary 1,2abel corporation purchased a 25% equity in Hb reported net income of $213,000 oter 15 tCorport on fr Siss,500. At December 31nd tidedand padamo oc ournalize the transactions. (Credit account titles are automatically select "No entry" for the account titles and enter o for amounts indented when amount is entered. Do not indent ulilyt ontry sqred the amounts. Record journal entries in the order presented ln the prolem Colun Account Titles and...
Blue Inc. acquired 20% of the outstanding common stock of
Theresa Kulikowski Inc. on December 31, 2020. The purchase price
was $1,111,200 for 46,300 shares. Kulikowski Inc. declared and paid
an $0.80 per share cash dividend on June 30 and on December 31,
2021. Kulikowski reported net income of $788,000 for 2021. The fair
value of Kulikowski’s stock was $27 per share at December 31, 2021.
Assume that the security is a trading security.
Prepare the journal entries for Blue...
Un January 1, 2020, Pina Colada Corp. had the following stockholders' equity accounts Common Stock ($24 par value, 59,000 shares issued and outstanding) $1,416,000 Paid-in Capital in Excess of Par-Common Stock 197,000 Retained Earnings 559,000 During the year, the following transactions occurred. Declared a $3 cash dividend per share to stockholders of record on February 15, payable March 1 Mar. " Paid the dividend declared in February Athird Apr. Announced a 2-for-1 stock split. Prior to the split, the market...
Pearl Inc. acquired 20% of the outstanding common stock of Theresa Kulikowski Inc, on December 31, 2020. The purchase price was $1,294,800 for 49,800 shares. Kulikowski Inc. declared and paid an $0.75 per share cash dividend on June 30 and on December 31, 2021. Kulikowski reported net income of $764,000 for 2021. The fair value of Kulikowski's stock was $29 per share at December 31, 2021. Assume that the security is a trading security. Prepare the journal entries for Pearl...
Oriole Inc. acquired 20% of the outstanding common stock of Theresa Kulikowski Inc. on December 31, 2020. The purchase price was $1,031,800 for 46,900 shares. Kulikowski Inc. declared and paid an $0.80 per share cash dividend on June 30 and on December 31, 2021. Kulikowski reported net income of $714,000 for 2021. The fair value of Kulikowski's stock was $25 per share at December 31, 2021. Assume that the security is a trading security. Prepare the journal entries for Oriole...
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