Entries by mary WAMBUGU

On January 1, 2019, Frederick Corporation had 200,000 shares of common stock outstanding with a par value of $5 per share.

August 24, 2019 in /by

On January 1, 2019, Frederick Corporation had 200,000 shares of common stock outstanding with a par value of $5 per share. On March 31, Frederick Corporation authorized a 10% stock dividend when the market value was $18 per share. Use this information to prepare the General Journal entry (without explanation) for March 31. If no […]

 

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The following are selected accounts for the Wicomico Company after all Fiscal Year December 31, 2018, adjusting entries & closing entries have been posted. All balances are normal.

August 24, 2019 in /by

Question The following are selected accounts for the Wicomico Company after all Fiscal Year December 31, 2018, adjusting entries & closing entries have been posted. All balances are normal. Account Amount Common Stock, $10 par $260,000 Treasury Stock, at cost $16 per share 32,000 Dividends Payable 13,000 Paid in Capital in excess of par, Common […]

 

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The following financial information is for Chesapeake Corporation are for the fiscal years ending 2018 & 2017 (all balances are normal):

August 24, 2019 in /by

The following financial information is for Chesapeake Corporation are for the fiscal years ending 2018 & 2017 (all balances are normal): Item/Account 2018 2017 Cash $35,000 $24,000 Accounts Receivable 56,000 52,000 Inventory 46,000 34,000 Current Liabilities 76,000 42,000 Net Sales (all credit) 550,000 485,000 Cost of Goods Sold 290,000 265,000 Use this information to determine the number of […]

 

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On January 2, 2018, All Good Company purchased 10,000 shares of the stock of Big Bad Company, and DID obtain significant influence.

August 24, 2019 in /by

On January 2, 2018, All Good Company purchased 10,000 shares of the stock of Big Bad Company, and DID obtain significant influence. The investment is intended as a long-term investment. The stock was purchased for $19 per share, and represents a 30% ownership stake. Big Bad Company made $350,000 of net income in 2018, and paid dividends to All […]

 

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