I believe in this case that ABC motors is the customer and the car was still being delivered to their office. Therefore the correct answer to this is:

The title of ABC motors would be “Void”

This is considered right away as Void since there was no information or any knowledge on the part of ABC motors about the stolen car.

7 0

3 years ago

On January 2, 20Y4, Whitworth Company acquired 40% of the

Gelneren [198K]

Answer:

Journal entries needed for:

a. Purchase of stock

b. Share of Aloof income

c. Dividend

d. Sale of Aloof company stock

a. Purchase of stock

Date Account Title Debit Credit

Jan 2, 20Y4 Investment in Aloof company $340,000

stock

Cash $340,000

b. Share of Aloof income

Date Account Title Debit Credit

Dec 31, 2024 Investment in Aloof company $72,000

stock

Income of Aloof Company $72,000

Working:

= 40% * 180,000 income

= $72,000

c. Dividend

Date Account Title Debit Credit

Dec 31, 2024 Cash $4,000

Investment in Aloof company $4,000

stock

Working:

= 40% * 10,000 dividend

= $4,000

d. Sale of stock

Date Account Title Debit Credit

Dec 31, 2024 Cash $405,000

Loss on sales of Aloof $3,000

company stock

Investment in Aloof company $408,000

stock

Working:

Value of stock = Purchase price + share of Aloof income - Share of dividend

= 340,000 + 72,000 - 4,000

= $408,000

6 0

2 years ago

Sorry wrong category......

sineoko [7]

? what is the question category ohhhhhhhhhh

3 0

3 years ago

If the company wishes to increase its total dollar contribution margin by 30% in 2020, by how much will it need to increase its

Brums [2.3K]

Answer:

$35,400

Explanation:

The computation of the increase in sales is shown below:

The Total sales value is

= Number of units sold × selling price per unit

= 2,950 units × $40 per unit

= $118,000

Now if the contribution margin increases by 30, so ultimately the sales is also increased by 30%

Therefore, the increase in sales is

= $118,000 × 30%

= $35,400

7 0

3 years ago