Purchased 3500 shares of the 100000 shares no par common

Assignment Help Accounting Basics
Reference no: EM13572420

Prepare journal entries to record the following selected transactions of Masterson Co.

a) Purchased 600 shares of the 100,000 shares outstanding $10 par common shares of Dankin Corporation for $5,100.

b) Purchased 3,500 shares of the 10,0000 shares no par common shares of Ramon Co. for $45,700. The investment was accounted for by the equity method.

c) Received a cash dividend of $1 per share on the Dankin Corporation stock acquired in (a).

d) Received a cash dividend of $1 per share on the Ramon Co. Stock acquired in (b).

e) Sold 100 shares of the Dankin Corporation shares acquired in (a) for $2,100.

f) Dankin Corporation reported net income of $30,000 and Ramon Co. reported net income was $50,000.

Reference no: EM13572420

Questions Cloud

From records available in various offices of baraga county : from records available in various offices of baraga county you find the following information about changes in
Skyline inc purchased a portfolio of available for sale : skyline inc purchased a portfolio of available for sale securities during 2013. the cost of the securities was 14500.
At the termination of project which of the following needs : at the termination of project which of the following needs to be considered relating to project assets?select correct
Prepare in general journal form all journal entries that : the city of mcneely sold bonds in the amount of 10000000 to finance the construction of a public health center.the
Purchased 3500 shares of the 100000 shares no par common : prepare journal entries to record the following selected transactions of masterson co.a purchased 600 shares of the
With continuous compounding at 8 percent for 20 years what : with continuous compounding at 8 percent for 20 years what is the approximate future value of a rs. 20000 initial
This task is designed to assist you in developing your : this task is designed to assist you in developing your understanding of leading a change process as a social
If the allocation sequence is changed in a step-down : if the allocation sequence is changed in a step-down method cost allocation which of the following will be affected?no
A stock had returns of 11 percent -18 percent -21 percent : a stock had returns of 11 percent -18 percent -21 percent 20 percent and 34 percent over the past five years. what is

Reviews

Write a Review

 

Accounting Basics Questions & Answers

  What price will your trade be executed

What price will your trade be executed - suppose an investor has submitted a limit order to sell at $55.38. What will happen?

  Security brokers in the design and distribution

The out-of-pocket expenses incurred by Security Brokers in the design and distribution of the issue were $300,000. What profit or loss would Security Brokers incur if the issue were sold to the public at an average price of:

  How much cash is in the retained earnings account

How much cash is in the retained earnings account - dtermine the maximum dividend GreyCo can pay - Determine the amount of retained earnings as of 12-31-2013.

  Which statement is true regarding accounting and time frames

Which statement is true regarding accounting and time frames?

  Twenty-five thousand shares reacquired by elixir

twenty-five thousand shares reacquired by elixir corporation for 53 per share were exchanged for undeveloped land that

  Determine mcdonald''s corporation''s dividend yield.

At the market close on February 19, 2010, McDonald's Corporation had a closing stock price of $64.74. In addition, McDonald's Corporation had a dividend per share of $2.05 over the previous year.

  Candies inc manufactures and sells two products marshmal

candies inc. manufactures and sells two products marshmal low bunnies and jelly beans. the fixed costs are 350000 and

  Effect on retained earnings

Indicate whether the increase, decrease, or have no effect on retained earnings - Declared cash dividend.

  The following information relating to each segment is

adventure inc. is a company that operates in four different divisions. the following information relating to each

  What are direct materials provide an example of direct

what are direct materials? give an example of a direct material. how do direct materials differ from indirect

  Increase in the operating profits

Variable shipping and other selling expenses would be $1 per unit for the special order. If the special order is accepted, MNK's operating profits will increase by:

  Haywood company sells a single product with a contribution

haywood company sells a single product with a contribution margin of 5 per unit fixed costs of 74400 and sales for the

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!

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