5. Brady's Brunch purchases 10% of the outstanding stock of Texas Suppliers for $35,000 on January...

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5. Brady's Brunch purchases 10% of the outstanding stock of Texas Suppliers for $35,000 on January 1, 20Y5. On May 15, 20Y5, Brady's Brunch receives $1,000 in dividends from Texas Suppliers. Brady's Brunch sells half of the stock in Texas Suppliers for $18,900 on November 25, 20Y5. Prepare the journal entries for the following: a. Purchase of Texas Suppliers' stock b. Receipt of dividends c. Sale of Texas Suppliers' stock 6. Sales + OR – = Cash received from customers 7. Cost of merchandise sold + Increase in inventories OR - AND + OR - = Cash payments for merchandise 8. + Decrease in accrued expenses payable - Increase in accrued expenses payable = 9. Interest expense + - Increase in interest payable = Cash payments for interest 5. Brady's Brunch purchases 10% of the outstanding stock of Texas Suppliers for $35,000 on January 1, 20Y5. On May 15, 20Y5, Brady's Brunch receives $1,000 in dividends from Texas Suppliers. Brady's Brunch sells half of the stock in Texas Suppliers for $18,900 on November 25, 20Y5. Prepare the journal entries for the following: a. Purchase of Texas Suppliers' stock b. Receipt of dividends c. Sale of Texas Suppliers' stock 6. Sales + OR – = Cash received from customers 7. Cost of merchandise sold + Increase in inventories OR - AND + OR - = Cash payments for merchandise 8. + Decrease in accrued expenses payable - Increase in accrued expenses payable = 9. Interest expense + - Increase in interest payable = Cash payments for interest

Answer rating: 100% (QA)

a Marketable Securities ac 35000 to Bank ac 35000 b Ba... View the full answer