Helppppp pleaseeee!!!!!!!!!

On January 2, 2020, Pull Corp. paid $516,000 for 24% (96,000 shares) of the outstanding common stock of Olivia Co. Pull used the

cestrela7 [59]

Answer:

(a). Journal entry shown below:

(b). Balance in the investment account = $649,167

Explanation:

As per the data given in the question,

A)

Journal entry to record the sale of the 20,000 shares:

Cash A/c Dr. $240,000

(20,000×$12)

Loss on sale of investment A/c Dr. -$69,166.67

($170,833-$240,000)

To Investment in Olivia co. A/c $170,833

($820,000÷96,000×20,000 shares)

(To record the sale of 20,000 shares)

B)

Balance in the investment account in Jan 1 2020 = $820,000

Investment in Oliver Co. sold = $170,833

Balance in the investment account after the sale = $820,000-$170,833

=$649,167

6 0

3 years ago

Buffalo Corporation issues $630,000 of 9% bonds, due in 11 years, with interest payable semiannually. At the time of issue, the

katen-ka-za [31]

Answer:

the issue price of the bonds is $593,177

Explanation:

The computation of the issue price of the bonds is shown below:

Particulars Amount PV factorat 5% Present value

Semi-annual interest $28,350 11.68959 $331,400

Principal $630,000 0.41552 $261,778

Total $593,177

hence, the issue price of the bonds is $593,177

6 0

3 years ago

A ________ is a digital media file produced and distributed via real simple syndication (rss) for playback on a variety of fixed

EastWind [94]

The answer to this question is the podcast. A podcast is a list of digital audio files that a person can download by the means of subscription. The podcast can be accessed through the internet and can be streamed and downloaded in the user's device. The series of podcast can be downloaded automatically when the list is updated.

6 0

3 years ago

The Fabricating Department started the current month with a beginning Work in Process inventory of $11,100. During the month, it

MaRussiya [10]

Answer:

a.$16,370.

Explanation:

beginning WIP cost: 11,100

cost added during the period

materials 77,100

direct labor 25,100

overhead 70% of DL = 17,570

total added 119,770

Total cost to be accounted for: 130,870

Cost assignned to

transferred out 114,500

ending WIP 16.370‬

Total cost assigned to 130,870

As the cost to be accounted and the cost assigned to should match we contruct that and solve for the ending WIP

8 0

3 years ago

Bike Atlanta currently produces 1,000 axles per month. The following per unit data apply for sales to regular customers: Direct

Ad libitum [116K]

Answer:

The total cost of producing 3,000 axles is $255,000

Explanation:

The computation of the total cost is shown below:

= Total per unit manufacturing costs × total number of axles produced

= $85 × 3,000 axles

= $255,000

The total manufacturing includes all costs such as Direct materials, direct manufacturing labor, Variable manufacturing overhead and, Fixed manufacturing overhead.

5 0

3 years ago