Entries by mary WAMBUGU

Alpha Co. purchased a 1,000 5 years 5 percent bond on July 1 2015 for 950. Interest is paid semi-annually on June 30.

August 22, 2019 in /by

Alpha Co. purchased a 1,000 5 years 5 percent bond on July 1 2015 for 950. Interest is paid semi-annually on June 30. The straight line method of amortization is used for both premiums & discounts. The information to prepare the adjusting general journal entry without explanation for the December 31 2017.   Looking for […]

 

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Alpha Company’s fiscal year 2017 Income Statement Net Income $300,000 Depreciation Expense 50,000 Gain on Sale of Plant Assets 10,000 Interest Expense 500

August 22, 2019 in /by

Alpha Company’s fiscal year 2017 Income Statement Net Income $300,000 Depreciation Expense   50,000 Gain on Sale of Plant Assets 10,000 Interest Expense 500            Balance Sheet 12/31/17 Increase (Decrease)                        Accounts Payable                  $4,000                        Plant Assets – Purchased       250,000                        Plant Assets – Disposals        100,000            Additional Information:                        Cash Balance – 12/31/2016: $50,000 Common Stock exchanged for outstanding Long Term Notes Payable of $125,000                        Dividends paid were $25,000 […]

 

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Please help with this on January 1 2017 Alpha Company purchased a significant influence shares investment in the Bravo-Zulu Company for $250,000.

August 22, 2019 in /by

Please help with this on January 1 2017 Alpha Company purchased a significant influence shares investment in the Bravo-Zulu Company for $250,000. This investment balance represents 25percent of the equity of the Bravo-Zulu Company. In 2017  Bravo-Zulu Company reported Net Income of $25,000 on November 15 2017 Bravo-Zulu Company paid cash dividends of $10,000 to its shareholders. […]

 

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Please help During all of fiscal year 2017, Alpha Corporation had outstanding 100,000 shares of $10 par common stock and 5,000 shares of noncumulative, $100 par value, 7 percent preferred stock.

August 22, 2019 in /by

Please help During all of fiscal year 2017, Alpha Corporation had outstanding 100,000 shares of $10 par common stock and 5,000 shares of noncumulative, $100 par value, 7 percent preferred stock. For 2017, Alpha Corporation had $230,000 income from continuing operations and $575,000 loss on discontinued operations; dividends were paid only to preferred shareholders. Use this information […]

 

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