2) On January 1, 2020, Dua Company purchased 30,000 shares of the stock of Lipa, Inc and did obtain significant influence The investment is intended as a long term investment The stock was purchased for $240,000, and represents a 35 ownership stake Lipa made $150,000 of net income in 2020, and paid dividends of $25,000 The price of Lipa's stock increased from $8 per share at the beginning of the year, to $10 per share at the end of the year Requirements create the January 1 and December 31 general journal entries for Dua Company How much should the Dua Company report on the balance sheet for the investment in Lipa at the end of 2020 4)Mercury Corporation had the following bond transactions during the fiscal year 2020 On January 1 issued forty $20,000 bonds at 103 The 5 year bonds are dated January 1, 2020 The contract interest rate is 5 Straight line amortization method is used Interest is payable semi annual on January 1 and July 1 On July 1 Mercury Corporation issued $500,000 of 5 , 10 year bonds The bonds dated January 1, 2020 were issued at 95, and pay interest on July 1 and January 1 Straight line amortization method is used On October 1 issued 10 year bonds $10,000 face value bonds, for $12,000 cash The bonds have a stated rate of 3 Straight line amortization method is used Interest is payable on October 1 and April 1 Requirements Create all general journal entries for the three bonds issued and any interest accruals and payments for the fiscal year 2020 (Round all calculations to nearest whole dollar )

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2) On January 1, 2020, Dua Company purchased 30,000 shares of the stock of Lipa, Inc. and did obtain significant influence. The investment is intended

2) On January 1, 2020, Dua Company purchased 30,000 shares of the stock of Lipa, Inc. and did obtain significant influence. The investment is intended as a long-term investment. The stock was purchased for $240,000, and represents a 35% ownership stake. Lipa made $150,000 of net income in 2020, and paid dividends of $25,000. The price of Lipa's stock increased from $8 per share at the beginning of the year, to $10 per share at the end of the year.

Requirements:

create the January 1 and December 31 general journal entries for Dua Company.
How much should the Dua Company report on the balance sheet for the investment in Lipa at the end of 2020?

4)Mercury Corporation had the following bond transactions during the fiscal year 2020:

On January 1: issued forty $20,000 bonds at 103. The 5-year bonds are dated January 1, 2020. The contract interest rate is 5%. Straight-line amortization method is used. Interest is payable semi-annual on January 1 and July 1.
On July 1: Mercury Corporation issued $500,000 of 5%, 10-year bonds. The bonds dated January 1, 2020 were issued at 95, and pay interest on July 1 and January 1.Straight-line amortization method is used.
On October 1: issued 10-year bonds $10,000 face value bonds, for $12,000 cash. The bonds have a stated rate of 3%. Straight-line amortization method is used. Interest is payable on October 1 and April 1.

Requirements:Create all general journal entries for the three bonds issued and any interest accruals and payments for the fiscal year 2020. (Round all calculations to nearest whole dollar.)