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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
Prepare journal entries to record the following transactions and events of Kash Company.
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2011
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Jan. 2
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Purchased 30,000 shares of Bushtex Co. common stock for $204,000 cash plus a broker's fee of $3,480 cash. Bushtex has 90,000 shares of common stock outstanding and its policies will be significantly influenced by Kash.
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Sept. 1
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Bushtex declared and paid a cash dividend of $3.10 per share.
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Dec. 31
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Bushtex announced that net income for the year is $624,900
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2012
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June 1
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Bushtex declared and paid a cash dividend of $3.60 per share.
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Dec. 31
Â
Bushtex announced that net income for the year is $699,750.
Â
Dec. 31
Â
Kash sold 10,000 shares of Bushtex for $162,500 cash.
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