On January 1st, 2020 Your Company purchases 1m shares for $50/share in Ad In Corp. Total...
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On January 1st, 2020 Your Company purchases 1m shares for $50/share in Ad In Corp. Total outstanding shares for Ad In are 4m. Assume you have significant influence. Ad In Corp. pays a total of $250,000 in dividends during the year. At the end of the year Ad In reports $10m in Net Income and it's shares are trading at $52. Record the purchase on January 1st, 2020 Record appropriate journal entries at the end of 2020 Assume similar information but instead Your Company purchased the shares on June 30th, 2020. Record appropriate journal entries during 2020 On January 1st, 2020 Your Company purchases 1m shares for $50/share in Ad In Corp. Total outstanding shares for Ad In are 4m. Assume you have significant influence. Ad In Corp. pays a total of $250,000 in dividends during the year. At the end of the year Ad In reports $10m in Net Income and it's shares are trading at $52. Record the purchase on January 1st, 2020 Record appropriate journal entries at the end of 2020 Assume similar information but instead Your Company purchased the shares on June 30th, 2020. Record appropriate journal entries during 2020
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If Your Company purchases 1 million shares of Ad In Corp on January 1 2020 for 50 per share the jour... View the full answer
Related Book For
Advanced Financial Accounting
ISBN: 978-0137030385
6th edition
Authors: Thomas Beechy, Umashanker Trivedi, Kenneth MacAulay
Posted Date:
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