Answered step by step
Verified Expert Solution
Question
1 Approved Answer
5. The following are facts about the investments of Howard Company. 1/1/20 12/31/20 6/30/21 12/31/21 You purchased 44,100 shares of Entron Co. Stock for
5. The following are facts about the investments of Howard Company. 1/1/20 12/31/20 6/30/21 12/31/21 You purchased 44,100 shares of Entron Co. Stock for $1,896,300. Entron has 147,000 shares outstanding. Entron reported net income of $420,000. You received a cash dividend of $26,000 from Entron. Entron reported net income of $504,000. 8/2/22 You received a cash dividend of $27,040 from Entron. What is the value of Investment in Entron Co. Stock on 8/2/227 6. The following are facts about the investments of Lester Company. 1/1/20 12/31/20 6/30/21 12/31/21 8/2/22 You purchased 1,800 shares of Pepper Co. Stock for $37,800. Pepper has 30,000 shares outstanding. Pepper reported net income of $55,000. You received a cash dividend of $1,400 from Pepper. Pepper reported net income of $66,000. You received a cash dividend of $1,500 from Pepper. What is the value of Investment in Pepper Co. Stock on 8/2/22? 7. 1/1/20 12/31/20 6/30/21 The following are facts about the investments of Ivester Company. You purchased 6,000 shares of Gill Co. Stock for $134,640. Gill has 200,000 shares outstanding. Gill reported net income of $26,400. You received a cash dividend of $7,900 from Gill. 12/31/21 Gill reported net income of $37,000. 6/30/22 You received a cash dividend of $8,200 from Gill. 8/19/22 You sold 1,200 shares of Gill Co. Stock for a total of $30,000. What is the total amount of the gain from the sale of Gill Co. Stock on 8/19/22?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started