Entries by mary WAMBUGU

On January 2, 2018, Baltimore Company purchased 14,000 shares of the stock of Towson Company at $12 per share.

August 24, 2019 in /by

Question On January 2, 2018, Baltimore Company purchased 14,000 shares of the stock of Towson Company at $12 per share. Baltimore obtained significant influence as the purchase represents a 30% ownership stake in Towson Company. On August 1, 2018, Towson Company paid cash dividends of $17,000. Baltimore Company intended this investment to a long-term investment. On December 31, 2018, […]

 

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On January 1, Easton Company had cash on hand of $90,000. All of January’s $204,000 sales were on account. December sales of $246,000 were also all on account.

August 24, 2019 in /by

Question On January 1, Easton Company had cash on hand of $90,000. All of January’s $204,000 sales were on account. December sales of $246,000 were also all on account. Experience has shown that Easton typically collects 35% of receivables in the month of the sale and the balance the following month. All materials and supplies are purchased on […]

 

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On March 1, 2019, Annapolis Company has a beginning Work in Process inventory of zero. All materials are added into production at the beginning of its production.

August 24, 2019 in /by

Question On March 1, 2019, Annapolis Company has a beginning Work in Process inventory of zero. All materials are added into production at the beginning of its production. There is only one production WIP inventory. During the month 23,000 units were started. At the end of the month all started units were 75% complete with respect to conversion. Direct […]

 

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Easton Company prepares annual adjusting entries only . During the third quarter of Fiscal Year 2018 , Easton

August 24, 2019 in /by

Question 5 ( 7 points ) Easton Company prepares annual adjusting entries only . During the third quarter of Fiscal Year 2018 , Easton Company acquired the following trading securities :" Date Company .* # of Price per Shares Share 8 / 15 X Company 1 , 500 $44 9/ 25 Y Company 1 , […]

 

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