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Umnica [9.8K]
3 years ago
7

On January 2, Cohan Company acquired 37% of the outstanding stock of Sanger Company for $715,500. For the year ended December 31

, Sanger Company earned income of $108,700 and paid dividends of $26,400.
Prepare the entries for Cohan Company for the purchase of the stock, the share of Sanger income, and the dividends received from Sanger Company. Refer to the Chart of Accounts for the exact wording of account titles.
Business
1 answer:
anzhelika [568]3 years ago
5 0

Answer:

Explanation:

check the file attached for solution i hope it helps

Download docx
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anti-spam policy

Explanation:

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The problem with spam is that it creates a negative image of the company, since current or potential clients can get annoyed by receiving so many unsolicited emails with advertisements or promotions. Instead of helping the company, spam email damages its.

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A manager needs to have summary sales information by product line available to her on a timely basis when purchasing decisions n
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Management information

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Which of the following does not use any type of computer code in their work?
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Read 2 more answers
Marvelous Motor Works sells vehicles directly to businesses for use in their companies. Marvelous Motor Works has a manager for
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3 years ago
At the end of the current year, Accounts Receivable has a balance of $2,150,000; Allowance for Doubtful Accounts has a debit bal
disa [49]

Answer:

a. Allowance for doubtful accounts = Unadjusted balance + Adjusted balance

= $10,500 + $110,000

= $120,500

b. i)The adjusted balance of accounts receivable shall be $2,150,000(adjusted debit balance)

ii) Adjusted balance = Bad debt expense - Unadjusted balance

= $120,500 - $10,500

= $110,000 (Adjusted credit balance)

iii) Adjusted bad debt expense = Unadjusted balance of allowance for doubtful accounts + Adjusted balance allowance for doubtful accounts

= $10,500 + $110,000

= $120,500 (Adjusted debit balance)

c. Net realizable value = Gross accounts receivable - Allowance for doubtful accounts

= $2,150,000 - $110,000

= $2,040,000

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3 years ago
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