Financial accounting

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Financial accounting

A Company purchased 90% of shares of B Company on January 1, 2019. Transactions in between A and B Company during 2019 are as follows:• There are sales of merchandise inventory between A and B Company. Sales figure of A Company includes the sales to B Company at the amount of $42,000 on cash. The cost of merchandise sold of this transaction were $34,000 for A. Those merchandise inventories has been sold to the third parties for $48,000 by B...

Financial accounting
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A Company purchased 90% of shares of B Company on January 1, 2019. Transactions in between A and B Company during 2019 are as follows:There are sales of merchandise inventory between A and B Company. Sales figure of A Company includes the sales to B Company at the amount of $42,000 on cash. The cost of merchandise sold of this transaction were $34,000 for A. Those merchandise inventories has been sold to the third parties for $48,000 by B Company. A...
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Cullumber Limited purchased a machine on account on April 2, 2018, at an invoice price of $381,780. On April 4, it paid $2,190 for delivery of the machine. A one-year, $3,730 insurance policy on the machine was purchased on April 5. On April 18, Cullumber paid $8,060 for installation and testing of the machine. The machine was ready for use on April 30.Cullumber estimates the machine’s useful life will be five years or 6,107 units with a residual value of...

Financial Accounting

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Financial accounting

The November 30, 2018, unadjusted trial balance of Sanchez Solutions is found in the Trial balance tab. Sanchez Solutions had the following transactions and events in December 2018. Dec.2Paid $1,210 cash to Gulfside Mall for Sanchez Solutions’ share of mall advertising costs.Dec.3Paid $620 cash for minor repairs to the company’s computer.Dec.4Received $6,400 cash from Walsh Engineering Co. for the receivable from November.Dec.10Paid cash to Laura Sanchez for six days of work at the rate of $180 per day.Dec.14Notified by Walsh Engineering...
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Question 1: Alameda Corporation has paid 60 consecutive quarterly cash dividends (15 years’ worth). The last six months have been a real cash drain on the company, however, as profit margins have been greatly narrowed by increasing competition.With a cash balance that is only enough to meet day-to-day operating needs, the president, Vince Ramsey, has decided that a stock dividend instead of a cash dividend should be declared. He tells Alameda’s financial vice-president, Janice Rahn, to issue a press release...