Gregory inc acquired 24 of the outstanding common stock of

Reference no: EM13601292

Gregory Inc. acquired 24% of the outstanding common stock of Handerson Inc. on December 31, 2012. The purchase price was $1,385,100 for 51,300 shares. Handerson Inc. declared and paid an $0.76 per share cash dividend on June 30 and on December 31, 2013. Handerson reported net income of $822,200 for 2013. The fair value of Handerson's stock was $29 per share at December 31, 2013.

Prepare the journal entries for Gregory Inc. for 2012 and 2013, assuming that Gregory can exercise significant influence over Handerson. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date Account Titles and Explanation Debit Credit

Dec. 31, 2013

Reference no: EM13601292

Questions Cloud

Throughout the corporate world businesses are transforming : throughout the corporate world businesses are transforming labor into a more flexible and variable cost. among such

On june 3 hunt company sold to ann mount merchandise having : on june 3 hunt company sold to ann mount merchandise having a sales price of 12000 with terms of 310 n60 f.o.b.

Company is evaluating the purchase of a rebuilt : company is evaluating the purchase of a rebuilt spot-welding machine to be used in the manufacture of a new product.

Jupiter company sells goods that have a cost of 450000 to : jupiter company sells goods that have a cost of 450000 to danone inc. for 680000 with payment due in 1 year. the cash

Gregory inc acquired 24 of the outstanding common stock of : gregory inc. acquired 24 of the outstanding common stock of handerson inc. on december 31 2012. the purchase price was

Capital budgeting and other types of relevant cost : capital budgeting and other types of relevant cost decisions attempt to quantify all of the inflows and outflows

In looking at accounts receivables and bad debts for this : in looking at accounts receivables and bad debts for this weeks discussion review the following web addressthere are

Your client is about to establish his own business and hire : your client is about to establish his own business and hire at least 10 employees. they ask you for advice concerning

The companys beginning cash balance for the upcoming fiscal : forest outfitters is a retailer that is preparing its budget for the upcoming fiscal year. management has prepared the

User Account

All Pages