Question: Need help figuring out how to record journal entry for Purchased 40,000 shares of Pinkberry Co. stock directly from the founders for $24 per share.

Need help figuring out how to record journal entry for

Purchased 40,000 shares of Pinkberry Co. stock directly from the founders for $24 per share. Pinkberry has 125,000 shares issued and outstanding. Equinox Products Inc. treated the investment as an equity method investment. Received $27,500 dividend from Pinkberry Co. investment.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

The Best Wheels Bicycle Company produces bicycles in different styles for boys and girls, in heights of 26 inches or 20 inches, and with 10 speeds, 3 speeds, or 1 speed. a. How many different kinds...

Hi, can some please help me with L-S please? step by step? thank you! h. Purchased 40,000 shares of Pinkberry Co. stock directly from the founders $24 per share. Pinkberry has 125,000 shares issued...

picture is part 2 part 1 - h . Purchased 4 0 , 0 0 0 shares of Pinkberry Co . stock directly from the founders for $ 2 4 per share. Pinkberry has 1 2 5 , 0 0 0 shares issued and outstanding. Equinox...

Comson stock-\$15 par value, 100, vee shares authorized, 50,600 shares issued and outstanding Paid-in capital in excess of par value, comion stock Retained earnings Total steckhotders' equity During...

Kohler Corporation reports the following components of stockholders equity on December 31, 2017. Common stock$20 par value, 100,000 shares authorized, 40,000 shares issued and outstanding $ 800,000...

I need help answering this question in 20 minutes please Kohler Corporation reports the following components of stockholders\" equity at December 31 of the prior yeat. $ 1,279,000 $ 750,000 60,000...

GL1301 - Based on Problem 13-2A Kohler Company LO C3, P2, P3 Kohler Corporation reports the following components of stockholders' equity on January 1, Common stock-$10 par value, 100,000 shares...

Share Holder equity 3 Utah Corporation reports the following components of stockholders' equity on December 31 Common stock-$20 par value, 100,000 shares authorized 40,000 shares issued and...

this is the second part of the problem i already got the first part answered, which is the journap entries. i just need to know how to prepare the income statement for the income date data and...

I could use some assistance on preparing an S Corporation Tax Return. The details are in the attached file. Acct 6113 S Corporation Due Date April 28, 2014 This problem is worth 100 points Prepare...

if you dont know the answer, you can skip the question. Thankyou :) K. 11.35 (53' 9%! 4 ' 121. Treasury shares should be reported in the equity section immediately after a. share capitalordinary. b....

The One Product economy which produces and sells only personal computers (PCs), expects that it can sell 500 more or 12,500 PCs next year. Nominal GDP was $20,000,000 this year and the money supply...

Describe the algebraic properties of dot product. (a) Is it right-distributive over addition: (b) Is it left-distributive (over addition)? (c) Does it commute? (d) Associate? (e) How does it interact...

Lall of the following are reasons for holding cash except To facilitate transaxtions with suppliers, customers and employees If the probability of a startup becoming an unicom ( billion $ valuation )...

https://media.cheggcdn.com/media/e59/e5900ba1-02b0-44ab-8246-fb980e24e7c1/phpDkQ6Ux

=+k. Does the letter or package have an unusual format?

=+Is the letter personalized with your name or your familys name? If so,

=+a. Who is the intended audience?