Entries by mary WAMBUGU

On January 2, 2017, Kesha Company purchased 10,000 shares of the stock of Petty Corp., and did not obtain significant influence.

August 23, 2019 in /by

Question Prepare the journal EntriesPart A On January 2, 2017, Kesha Company purchased 10,000 shares of the stock of Petty Corp., and did not obtain significant influence.  The investment is intended as a long-term investment. The stock was purchased for $5 per share, and represents a 10% ownership stake. Petty Corp made $20,000 of net income in 2017, and […]

 

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On January 2, 2017, Kesha Company purchased 10,000 shares of the stock of Petty Corp., and did not obtain significant influence.

August 23, 2019 in /by

Question Part AOn January 2, 2017, Kesha Company purchased 10,000 shares of the stock of Petty Corp., and did not obtain significant influence.  The investment is intended as a long-term investment. The stock was purchased for $5 per share, and represents a 10% ownership stake. Petty Corp made $20,000 of net income in 2017, and paid dividends of $5,000 […]

 

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On June 1, 2019 Adelphi company issued $155,000 of 6% 5-year bonds. The bonds which were issued at 101, pay interest on January 1 and June 1.

August 23, 2019 in /by

Question On June 1, 2019 Adelphi company issued $155,000 of 6% 5-year bonds. The bonds which were issued at 101, pay interest on January 1 and June 1. Use this to calculate the amount of bond discount or premium that it amortized with each interest payment. Discounts should be entered positive and premiums should be […]

 

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For the FY 2018, Frederick Company had net sales of $1,100,000 and net income of $95,000, paid income taxes of $27,500 and had before tax interest expense of $17,500. Use this to determine the Times Interest Earned Ratio

August 23, 2019 in /by

For the FY 2018, Frederick Company had net sales of $1,100,000 and net income of $95,000, paid income taxes of $27,500 and had before tax interest expense of $17,500. Use this to determine the Times Interest Earned Ratio   Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code “Newclient”

 

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