User Account

All Pages

Give the journal entries for the purchase on january

Assignment Help Accounting Basics
Reference no: EM13865472

On January 2, Ubuy.com paid $ 100,000 to acquire 25 percent (10,000 shares) of the common stock of E- Net Corporation. The accounting period for both companies ends December 31. Give the journal entries for the purchase on January 2 and for each of the following transactions that occurred during the year:

July 2 E- Net declared and paid a cash dividend of $ 3 per share.

 

Dec. 31 E- Net reported net income of $ 200,000.

Reference no: EM13865472

Questions Cloud

Billy take prior to deciding on the offer of tick and check? : Provide reasons why you think he should or should not. Is there any other action you suggest Billy take prior to deciding on the offer of Tick and Check? Why do you recommend that action?
Ways of doing business to meet the consumers : What conclusions can you draw from your research that would demonstrate the role played by managed care in the behavioral health industry? If you were a manager of a behavioral healthcare organization, what changes would you bring to your ways of doi..
The aggregate demand curve to be steep : Using ISLM analysis, explain what would cause the aggregate demand curve to be steep.
What would you do if you were in sharon position? : Assume Jose and Emily report to Sharon, the manager of the school district audit. Should they inform Sharon of their concerns? Why or why not? Assume they don inform Sharon but she finds out from another source What would you do if you were in Sharon..
Give the journal entries for the purchase on january : On January 2, Ubuy.com paid $ 100,000 to acquire 25 percent (10,000 shares) of the common stock of E- Net Corporation. The accounting period for both companies ends December 31. Give the journal entries for the purchase on January 2 and for each of t..
Compare the short run and long run effects : What would cause(a) a steep ADI curve; (b) a gently sloping ADI curve? Compare the short run and long run effects of (i) a temporary adverse supply shock and (ii) a permanent supply reduction under each of (a) and (b).
Find that the patient is wheezing : A five-month-old Caucasian female is brought into the clinic as the parent complain that she has been having ongoing foul-smelling , greasy diarrhea. She seems to be small for her age and a bit sickly but, her parent's state that she has a huge appet..
Prepare the journal entries to record the transactions : Rocktown Corporation bought 600 shares of General Eccentric stock on March 20 for its trading securities portfolio at $ 29 per share. Rocktown sold the stock at $ 33 per share on June 23. Prepare the journal entries to record the transactions on each..
Explanation for the inaction in the subway : Another explanation for the inaction in the subway incident is a kind of moral blindness  where a person fails to perceive the existence of moral issues in a particular situation Do you believe moral blindness existed in the incident? Be sure to addr..

Reviews

Write a Review

Accounting Basics Questions & Answers

  We normally think of the arts as very different from

we normally think of the arts as very different from technologies in spite of the fact that art with perhaps a few

  350 on november 15 2009 sandra cook a newly hired cost

3.50 on november 15 2009 sandra cook a newly hired cost analyst at demgren company was asked to predict overhead costs

  The auto repair shop of empire motor sales uses standards

the auto repair shop of empire motor sales uses standards to control labor time and labor cost in the shop. the

  How much would george have to deposit in the bank at the

how much would george have to deposit in thebank at the end of each of the next five years if he wishes to have5000 in

  Discuss how and why interest expense is allocated between

discuss how and why interest expense is allocated between measurement periods.as a business manager should you be

  Twin peaks building supplies

Chris White was a forestry technician who had been searching for several years for a business opportunity to combine with his forestry career

  Journalize the adjusting entry on december

Journalize the adjusting entry on December 31 for the impaired goodwill. b. Journalize the adjusting entry on December 31 for the amortization of the patent rights.

  Percentage of sales and percentage of receivables

What is the difference between using the percentage of sales and percentage of receivables method for calculating doubtful accounts? Is it appropriate to use a hybrid of the percentage of sales and the percentage of receivables methods of calculat..

  Prepare a production cost report for welding department

Prepare a production cost report for the Welding Department for the month of February.

  What is the break even point per month in sales dallars

What is the break even point per month in sales dallars?

  Amount of goodwill impairment

The fair value of net identifiable assets exclusive of goodwill of a reporting unit of X Company is $300,000. On X Company's books, the carrying value of this reporting unit's net assets is $350,000, including $60,000 goodwill. If the fair value o..

  A friend of yours is a biotech scientist who is developing

a friend of yours is a biotech scientist who is developing a method of cloning certain antibodies. you have estimated

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd