Homework Answers
| Journal Entry- Sunland Cosmetics | |||
| Date | Accounts Titles | Debit | Credit |
| 18-Mar | Available for sale | $442,750.00 | |
| Cash (287500X11%*$14) | $442,750.00 | ||
| 30-Jun | Cash | $9,624.00 | |
| Dividend Revenue | $9,624.00 | ||
| 31-Dec | Available for sale (287500*11%*( 16-14)) | $63,250.00 | |
| Unrealised Gain or Loss - Income | $63,250.00 | ||
| Let me know if any doubt Kindly mark with positive rating it would help me lot. Thanks in advance. |
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Question 1 0.72/2 View Policies Show Attempt History Current Attempt in Progress These are two independent...
Question 1 0.72/2 View Policies Show Attempt History Current Attempt in Progress These are two independent...
Question 1 0.72/2 View Policies Show Attempt History Current Attempt in Progress These are two independent situations: 1. Sunland Cosmetics acquired 12% of the 287,500 shares of common stock of Elite Fashion at a total cost of $14 per share on March 18, 2020. On June 30, Elite declared and paid a $80,200 dividend. On December 31, Elite reported net income of $228,100 for the year. At December 31, the market price of Elite Fashion was $16 per share. 2....
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The following are two independent situations.
Situation 1
Carla Cosmetics acquired 10% of the 210,000 shares of common stock
of Martinez Fashion at a total cost of $13 per share on March 18,
2020. On June 30, Martinez declared and paid $75,800 cash dividend
to all stockholders. On December 31, Martinez reported net income
of $129,200 for the year. At December 31, the market price of
Martinez Fashion was $14 per share.
Situation 2
Sarasota, Inc. obtained significant influence over...
Exercise 16-18 Your answer is partially correct. Try again. The following are two independent situations. 1....
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The following are two independent situations. Situation 1 Marigold Cosmetics acquired 10% of the 191,000 shares...
The following are two independent situations. Situation 1 Marigold Cosmetics acquired 10% of the 191,000 shares of common stock of Martinez Fashion at a total cost of $14 per share on March 18, 2020. On June 30, Martinez declared and paid $80,900 cash dividend to all stockholders. On December 31, Martinez reported net income of $121,000 for the year. At December 31, the market price of Martinez Fashion was $15 per share Situation 2 Swifty, Inc. obtained significant influence over...
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Question 1 0.72/2 View Policies Show Attempt History Current Attempt in Progress These are two independent situations: 1. Sunland Cosmetics acquired 12% of the 287,500 shares of common stock of Elite Fashion at a total cost of $14 per share on March 18, 2020. On June 30, Elite declared and paid a $80,200 dividend. On December 31, Elite reported net income of $228,100 for the year. At December 31, the market price of Elite Fashion was $16 per share. 2....
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The following are two independent situations.
Situation 1
Carla Cosmetics acquired 10% of the 210,000 shares of common stock
of Martinez Fashion at a total cost of $13 per share on March 18,
2020. On June 30, Martinez declared and paid $75,800 cash dividend
to all stockholders. On December 31, Martinez reported net income
of $129,200 for the year. At December 31, the market price of
Martinez Fashion was $14 per share.
Situation 2
Sarasota, Inc. obtained significant influence over...
Exercise 16-18 Your answer is partially correct. Try again. The following are two independent situations. 1. Cullumber Cosmetics acquired 15% of the 153,000 shares of common stock of Nevins Fashion at a total cost of $13 per Cullum share on March 18, 2020. On June 30, Nevins declared and paid a $76,300 dividend. On December 31, Nevins reported net income of $127,200 for the year. At December 31, the market price of Nevins Fashion was $15 per share. Pharoah, Inc.,...
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