Entries by mary WAMBUGU

The accounts in the ledger of Talbot Delivery Service contain the following balances on July 31, 2014. Accounts Receivable $10,642 Prepaid Insurance $  1,968

The accounts in the ledger of Talbot Delivery Service contain the following balances on July 31, 2014. Accounts Receivable $10,642 Prepaid Insurance $  1,968 Accounts Payable 8,396 Maintenance and Repairs Expense 961 Cash ? Service Revenue 10,610 Equipment 49,360 Dividends 700 Gasoline Expense 758 Common Stock 40,000 Utilities Expense 523 Salaries and Wages Expense 4,428 Notes […]

 

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On Jan 1, 2017, Alpha Company purchased a significant influence shares investment in the Bravo-Zulu Company for $250,000.

On Jan 1, 2017, Alpha Company purchased a significant influence shares investment in the Bravo-Zulu Company for $250,000. The investment balance represents 30% of the equity of the Bravo-Zulu Company. During 2017, Bravo-Zulu Company reported Net Income of $25,000 on Nov 15, 2017 Bravo-Zulu Company paid cash dividends of $10,000 to its shareholders. Use this […]

 

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On Jan 2, 2017, Alpha Company purchased 10,000 shares of the stock of Zulu Company, and did not obtain significant influence.

On Jan 2, 2017, Alpha Company purchased 10,000 shares of the stock of Zulu Company, and did not obtain significant influence. The investment is intended as a long-term investment. The stock was purchased for $10 per share, and represents a 12% ownership stake. Zulu Company made $25,000 of net income in 2107, and paid dividends […]

 

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Otis Company accumulates the following adjustment data at December 31. Services provided but not recorded total $1,420. Supplies of $300 have been used.

Otis Company accumulates the following adjustment data at December 31. 1.   Services provided but not recorded total $1,420. 2.   Supplies of $300 have been used. 3.   Utility expenses of $225 are unpaid. 4.   Unearned service revenue of $260 is recognized for services performed. 5.   Salaries of $800 are unpaid. 6.   Prepaid insurance totaling $380 has […]

 

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