Reference no: EM132559307
Questions -
Q1. On January 2, 2018, Alpaca Company purchased 14,000 shares of the stock of Zebra Company, and did not obtain significant influence. The investment is intended as a long-term investment. The stock was purchased for $12 per share, and represents a 10% ownership stake. Zebra Company made $55,000 of net income in 2018, and paid dividends of 50 cents per share on December 15, 2018. On December 31, 2018, Zebra Company's stock was trading on the open market for $15 per share at the end of the year. Use this information to prepare the General Journal entry(ies) (without explanation) for January 2 purchase and the December 15 & 31, 2018 record of income & gain/loss. If no entry is required then write "No Entry Required."
Q2. On April 1, 2019, Alaska Trading Company issued $900,000 of 6%, 10-year bonds. The bonds, which were issued at 98, pay interest on October 1 and April 1. Use this information to prepare the General Journal entry (without explanation) to record the April 1, 2019 bond issue. If no entry is required then write "No Entry Required."
Q3. On August 1, 2018, Dorchester Company entered into a capital lease, and correctly recorded the leased asset, and related obligation at $100,000. The annual interest rate implicit in the lease was 9%, and the first lease payment of $1,600 is due at the end of each month of the lease. Use this information to make the General Journal entry (without explanation) for the August 31, 2018 monthly lease payment. If no entry is required then write "No Entry Required." (Round your answer to the nearest whole dollar.)
|
Economics degree at the university of adelaide
: Consider the individual described below. Which type of unemployment would you suggest that they most likely belong to? Explain.
|
|
Prepare only the Stockholders Equity section
: Common Stock, $10 par $260,000. Prepare only the Stockholder's Equity section of the Classified Balance Sheet for the year end
|
|
Find which alternative would be best
: Anticipates an annual volume of 10,000 units, which alternative would be best from a cost standpoint? For 20,000 units, which alternative would be best?
|
|
Find and describes costs assigned to the product
: Describes costs assigned to the product under the absorption costing method? Variable selling and administrative (VSA)/Direct materials (DM)
|
|
Make the General Journal entry for the August
: The annual interest rate implicit in the lease was 9%, and the first lease payment of $1,600 is due. Make the General Journal entry for the August
|
|
Benihana should be liable for the man death
: Was the case ever filed? Did it go to trial? What was the result? Do you believe that Benihana should be liable for the man's death? Why or Why Not?
|
|
Prepare the flexible selling and administrative expenses
: Prepare the Flexible Selling and Administrative Expenses Budget for 2021 with the increments of 5,000 sales units for the expected range of 415,000.
|
|
Company that has violated hr law
: You are a HR manager within that organization. You have been tasked with developing a training to help prevent future violations of the HR law.
|
|
Find the sales volume variance and the variable cost volume
: Find the sales volume variance and the variable cost volume variances based on a comparison between the master budget and the flexible budget.
|