Business, 16.03.2020 23:27, epicsushiman1
On February 12, Addison, Inc. purchased 6,000 shares of Lucas Company at $22 per share plus a $240 brokerage fee. This purchase represents less than 20% ownership of the Lucas Company. On August 22, Lucas paid a $0.42 dividend per share. On November 10, 4,000 shares of Lucas stock were sold for $28 per share less a $160 brokerage fee.
Required:
Prepare the journal entries for the original purchase, dividend, and sale. Refer to the Chart of Accounts for exact wording of account titles.
Answers: 2
Business, 23.06.2019 15:00, birdman6360
Baskin promotions, inc. sells t-shirts decorated for a variety of concert performers. the company has developed the following budget for the coming year based on a sales forecast of 80,000 t-shirts: sales $ 1,400,000 cost of goods sold 820,000 gross profit 580,000 operating expenses ($100,000 is fixed) 418,400 operating income 161,600 income taxes (30% of operating income) 48,480 net income $ 113,120 cost of goods sold and variable operating expenses vary directly with sales, and the income tax rate is 30% at all levels of operating income. if the concert season is slow due to poor weather, baskin estimates that sales could fall to as low as 60,000 t-shirts. assume baskin actually achieves the 60,000 unit sales level, and that net income actually earned at this level was $70,000. a performance report would indicate that net income was:
Answers: 2
Business, 24.06.2019 06:30, schoolemailonlyno1
Small business owners are well-advised to purchase management, communication, and productivity software products and services that with one another. duplicate eradicate indicate integrate
Answers: 1
On February 12, Addison, Inc. purchased 6,000 shares of Lucas Company at $22 per share plus a $240 b...
Mathematics, 02.02.2020 17:47
History, 02.02.2020 17:47