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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...
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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...
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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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Teal Inc. acquired 20% of the outstanding common stock of Theresa Kulikowski Inc. on December 31, 2020. The purchase price was $998,800 for 45,400 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 $708,000 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 Teal...
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Grouper Inc. acquired 20% of the outstanding common stock of Theresa Kulikowski Inc. on December 31, 2020. The purchase price was $1,310,000 for 52,400 shares. Kulikowski Inc. declared and paid an $0.85 per share cash dividend on June 30 and on December 31, 2021. Kulikowski reported net income of $701,000 for 2021. The fair value of Kulikowski's stock was $28 per share at December 31, 2021. Assume that the security is a trading security. Prepare the journal entries for Grouper...
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Exercise 17-16 Blue Inc. acquired 20% of the outstanding common stock of Theresa Kulikowski Inc. on December 31, 2020. The purchase price was $1,310,000 for 52,400 shares. Kulikowski Inc. declared and paid an $0.85 per share cash dividend on June 30 and on December 31, 2021. Kulikowski reported net income of $701,000 for 2021. The fair value of Kulikowski's stock was $28 per share at December 31, 2021. Assume that the security is a trading security. Prepare the journal entries...
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Monty Inc. acquired 20% of the outstanding common stock of Theresa Kulikowski Inc. on December 31, 2020. The purchase price was $1,310,000 for 52,400 shares. Kulikowski Inc. declared and paid an $0.85 per share cash dividend on June 30 and on December 31, 2021. Kulikowski reported net income of $701,000 for 2021. The fair value of Kulikowski's stock was $28 per share at December 31, 2021. Assume that the security is a trading security. Prepare the journal entries for Monty...
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*Exercise 17-16 Indigo Inc. ecquired 20% of the outstanding corrmon stock of Therese Kulikowski Inc. on December 31, 2017. The purchase price was $1,212,000 for 50,500 shares. Kulikuwski Inc. dedered and paid an $0.75 per stare cash dividend on June 30 and on December 31, 2018 Kulikowski reported net income of 5730,000 for 2018. The lair value or kulikonski's stock was 527 per share al December 31, 2018 Assume that the security is a trading security Prepare the journal entries...
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Bramble Inc. acquired 20% of the outstanding common stock of
Theresa Kulikowski Inc. on December 31, 2020. The purchase price
was $1,168,400 for 50,800 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 $663,000 for 2021. The fair
value of Kulikowski’s stock was $26 per share at December 31, 2021.
Assume that the security is a trading security.
(a)
Your answer is partially correct....
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Exercise 17-16 Stellar Inc. acquired 20% of the outstanding
common stock of Theresa Kulikowski Inc. on December 31, 2020. The
purchase price was $1,310,000 for 52,400 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 $667,000
for 2021. The fair value of Kulikowski’s stock was $28 per share at
December 31, 2021. Assume that the security is a trading security.
Prepare the journal entries...
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...
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...
Teal Inc. acquired 20% of the outstanding common stock of Theresa Kulikowski Inc. on December 31, 2020. The purchase price was $998,800 for 45,400 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 $708,000 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 Teal...
Grouper Inc. acquired 20% of the outstanding common stock of Theresa Kulikowski Inc. on December 31, 2020. The purchase price was $1,310,000 for 52,400 shares. Kulikowski Inc. declared and paid an $0.85 per share cash dividend on June 30 and on December 31, 2021. Kulikowski reported net income of $701,000 for 2021. The fair value of Kulikowski's stock was $28 per share at December 31, 2021. Assume that the security is a trading security. Prepare the journal entries for Grouper...
Exercise 17-16 Blue Inc. acquired 20% of the outstanding common stock of Theresa Kulikowski Inc. on December 31, 2020. The purchase price was $1,310,000 for 52,400 shares. Kulikowski Inc. declared and paid an $0.85 per share cash dividend on June 30 and on December 31, 2021. Kulikowski reported net income of $701,000 for 2021. The fair value of Kulikowski's stock was $28 per share at December 31, 2021. Assume that the security is a trading security. Prepare the journal entries...
Monty Inc. acquired 20% of the outstanding common stock of Theresa Kulikowski Inc. on December 31, 2020. The purchase price was $1,310,000 for 52,400 shares. Kulikowski Inc. declared and paid an $0.85 per share cash dividend on June 30 and on December 31, 2021. Kulikowski reported net income of $701,000 for 2021. The fair value of Kulikowski's stock was $28 per share at December 31, 2021. Assume that the security is a trading security. Prepare the journal entries for Monty...
*Exercise 17-16 Indigo Inc. ecquired 20% of the outstanding corrmon stock of Therese Kulikowski Inc. on December 31, 2017. The purchase price was $1,212,000 for 50,500 shares. Kulikuwski Inc. dedered and paid an $0.75 per stare cash dividend on June 30 and on December 31, 2018 Kulikowski reported net income of 5730,000 for 2018. The lair value or kulikonski's stock was 527 per share al December 31, 2018 Assume that the security is a trading security Prepare the journal entries...
Bramble Inc. acquired 20% of the outstanding common stock of
Theresa Kulikowski Inc. on December 31, 2020. The purchase price
was $1,168,400 for 50,800 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 $663,000 for 2021. The fair
value of Kulikowski’s stock was $26 per share at December 31, 2021.
Assume that the security is a trading security.
(a)
Your answer is partially correct....