CourseLover

(12)

$10/per page/Negotiable

About CourseLover

Levels Tought:
Elementary,Middle School,High School,College,University,PHD

Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Architecture and Design,Art & Design,Biology,Business & Finance,Calculus,Chemistry,Engineering,Health & Medical,HR Management,Law,Marketing,Math,Physics,Psychology,Programming,Science Hide all
Teaching Since: May 2017
Last Sign in: 286 Weeks Ago, 2 Days Ago
Questions Answered: 27237
Tutorials Posted: 27372

Education

  • MCS,MBA(IT), Pursuing PHD
    Devry University
    Sep-2004 - Aug-2010

Experience

  • Assistant Financial Analyst
    NatSteel Holdings Pte Ltd
    Aug-2007 - Jul-2017

Category > Accounting Posted 10 Dec 2017 My Price 10.00

journal entries for 2014

12-8 Prepare all the necessary journal entries for 2014 for (a) Chicory Cosmetics and (b) Frank, Inc.

 

Exercise 12-8 Presented below are two independent situations. 1. Chicory Cosmetics acquired 15% of the 138,400 shares of common stock of Racine Fashion at a total cost of $11 per share on March 18, 2014. On June 30, Racine declared and paid a $53,100 dividend. On December 31, Racine reported net income of $110,620 for the year. At December 31, the market price of Racine Fashion was $13 per share. The stock is classi±ed as non-trading. 2. Frank, Inc., obtained signi±cant in²uence over Nowak Corporation by buying 30% of Nowak’s 30,100 outstanding shares of common stock at a total cost of $8 per share on January 1, 2014. On June 15, Nowak declared and paid a cash dividend of $36,300. On December 31, Nowak reported a net income of $88,200 for the year. Prepare all the necessary journal entries for 2014 for (a) Chicory Cosmetics and (b) Frank, Inc. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No . Date Account Titles and Explanation Debit Credit 1. Mar. 18 June 30 Dec. 31 2. Jan. 1 June 15 Dec. 31
Background image of page 1

Attachments:

Answers

CourseLover
(12)
Status NEW Posted 10 Dec 2017 07:12 AM My Price 10.00

-----------  ----------- H-----------ell-----------o S-----------ir/-----------Mad-----------am ----------- Th-----------ank----------- yo-----------u f-----------or -----------usi-----------ng -----------our----------- we-----------bsi-----------te -----------and----------- ac-----------qui-----------sit-----------ion----------- of----------- my----------- po-----------ste-----------d s-----------olu-----------tio-----------ns.----------- Pl-----------eas-----------e p-----------ing----------- me----------- on----------- ch-----------at -----------I a-----------m o-----------nli-----------ne -----------or -----------inb-----------ox -----------me -----------a m-----------ess-----------age-----------

Not Rated(0)