Question: What are the journal entries for chapter 15 comprehensive problem 4 on page 723 in Accounting Warren/reeves 26e ensive Problem 4 Selected transactions completed December
What are the journal entries for chapter 15 comprehensive problem 4 on page 723 in Accounting Warren/reeves 26e


ensive Problem 4 Selected transactions completed December 31, 2016, were as follows: by Equinox Products Inc. during the fiscal year ended Issued 15,000 shares of $20 par common stock at $30, receiving cash. K Issued 4,000 shares of $80 par preferred. 5%, ?? Issued $500,000 of 10-year 5% bonds at 104, with stock at $100, receiving cash 00y s ?? interest payable semiannually ad. Declared a quarterly dividend 1 00 quarterly dividend of $0.50 per share on common stock and $1.00 per share on n the date of record, 100,000 shares of common stock were outstanding preferred stock. O no treasury shares were held, and 20,000 shares of preferred stock were outstanding. Paid the cash dividends declared in (d) Purchased 7,500 shares of Solstice Corp. at $40 per share, plus a $150 brokerage com mission. The investment is classified as an available-for-sale investment. f. g. Purchased 8,000 shares of treasury common stock at $33 per share. h. 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. i. Declared a $1.00 quarterly cash dividend per share on preferred stock. On the date of record, 20,000 shares of preferred stock had been issued. (Continued) ensive Problem 4 Selected transactions completed December 31, 2016, were as follows: by Equinox Products Inc. during the fiscal year ended Issued 15,000 shares of $20 par common stock at $30, receiving cash. K Issued 4,000 shares of $80 par preferred. 5%, ?? Issued $500,000 of 10-year 5% bonds at 104, with stock at $100, receiving cash 00y s ?? interest payable semiannually ad. Declared a quarterly dividend 1 00 quarterly dividend of $0.50 per share on common stock and $1.00 per share on n the date of record, 100,000 shares of common stock were outstanding preferred stock. O no treasury shares were held, and 20,000 shares of preferred stock were outstanding. Paid the cash dividends declared in (d) Purchased 7,500 shares of Solstice Corp. at $40 per share, plus a $150 brokerage com mission. The investment is classified as an available-for-sale investment. f. g. Purchased 8,000 shares of treasury common stock at $33 per share. h. 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. i. Declared a $1.00 quarterly cash dividend per share on preferred stock. On the date of record, 20,000 shares of preferred stock had been issued. (Continued)
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
