Homework Answers
SOLUTION:
1)
|
Debit |
Credit |
||
|
Jan-01 |
Stock Investment |
156,500 |
|
|
Cash |
156,500 |
||
|
Dec-31 |
Cash (44,000 * 25%) |
11,000 |
|
|
Stock Investment |
11,000 |
||
|
Dec-31 |
Stock Investment |
53,250 |
|
|
Revenue from Stock Investments (213,000*25%) |
53,250 |
2)
|
Investment in Helbert Corporation, January 1 |
156,500 |
|
Less: Dividend received |
11,000 |
|
Plus: Share of reported income |
53,250 |
|
Investment in Helbert Corporation, December 31 |
198,750 |
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nment > Open Assignment THEI Question 2 Onlamary 1,2abel corporation purchased a 25% equity in Hb...
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 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, 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...
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...
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
Culver Corporation purchased 700 common shares of Ditch Inc. for $12,600 on February 21. Culver paid...
Culver Corporation purchased 700 common shares of Ditch Inc. for $12,600 on February 21. Culver paid a 1% commission on the share purchase and, because the shares were not publicly traded, decided to account for them following the cost model. On June 30, Ditch declared and paid a cash dividend of $1.20 per share. Prepare Culver Corporation's journal entry to record the purchase of the investment. (Credit account titles are automatically indented when the amount is entered. Do not indent...
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.
Noler Company owns 30% of Lauer Company. For the current year, Lauer reports net income of...
Noler Company owns 30% of Lauer Company. For the current year,
Lauer reports net income of $205,000 and declares and pays a
$41,000 cash dividend.
Record Noler’s equity in Lauer’s net income and the receipt of
dividends from Lauer. (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.)
Account Titles and Explanation Credit Date Debit Dec....
Noler Company owns 30% of Lauer Company. For the current year, Lauer reports net income of...
Noler Company owns 30% of Lauer Company. For the current year, Lauer reports net income of $200,000 and declares and pays a $40,000 cash dividend. Record Noler's equity in Lauer's net income and the receipt of dividends from Lauer. (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.) Debit Credit Date Account Titles and Explanation Dec. 31...
!!! Apps Home - Intranet 6 CHAPTER 14 ASSIGNMENT -/1 > Question 44 of 50 Juno...
!!! Apps Home - Intranet 6 CHAPTER 14 ASSIGNMENT -/1 > Question 44 of 50 Juno Corporation's stockholders' equity section at December 31, 2019 appears below: $600,000 Stockholder's equity Paid-in capital Common stock, $10 par, 60,000 outstanding Paid-in capital in excess of par Total paid-in capital Retained earnings Total stockholder's equity 150,000 $750,000 150,000 $900,000 On June 30, 2020, the board of directors of Juno Corporation declared a 20% stock dividend, payable on July 31, 2020, to stockholders of record...
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 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, 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...
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...
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
Culver Corporation purchased 700 common shares of Ditch Inc. for $12,600 on February 21. Culver paid a 1% commission on the share purchase and, because the shares were not publicly traded, decided to account for them following the cost model. On June 30, Ditch declared and paid a cash dividend of $1.20 per share. Prepare Culver Corporation's journal entry to record the purchase of the investment. (Credit account titles are automatically indented when the amount is entered. Do not indent...
Noler Company owns 30% of Lauer Company. For the current year,
Lauer reports net income of $205,000 and declares and pays a
$41,000 cash dividend.
Record Noler’s equity in Lauer’s net income and the receipt of
dividends from Lauer. (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.)
Account Titles and Explanation Credit Date Debit Dec....
Noler Company owns 30% of Lauer Company. For the current year, Lauer reports net income of $200,000 and declares and pays a $40,000 cash dividend. Record Noler's equity in Lauer's net income and the receipt of dividends from Lauer. (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.) Debit Credit Date Account Titles and Explanation Dec. 31...
!!! Apps Home - Intranet 6 CHAPTER 14 ASSIGNMENT -/1 > Question 44 of 50 Juno Corporation's stockholders' equity section at December 31, 2019 appears below: $600,000 Stockholder's equity Paid-in capital Common stock, $10 par, 60,000 outstanding Paid-in capital in excess of par Total paid-in capital Retained earnings Total stockholder's equity 150,000 $750,000 150,000 $900,000 On June 30, 2020, the board of directors of Juno Corporation declared a 20% stock dividend, payable on July 31, 2020, to stockholders of record...
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