Answered step by step
Verified Expert Solution
Question
1 Approved Answer
answer the question below and make the necessary adjuding entries? Information: On May 15th, 2021, Saola purchased 159,290 shares of ZHT, Inc.'s 354,000 outstanding shares
answer the question below and make the necessary adjuding entries?
Information: On May 15th, 2021, Saola purchased 159,290 shares of ZHT, Inc.'s 354,000 outstanding shares for $2.40 per share. On December 31,2021,ZHT, Inc. reported net income of $941,000 and paid a dividend of $169,000. ZHT, Inc.'s market price per share on 12/31/2021 was $2.66. No entries have been for this investment. For investment calculations, the finance department has chosen to round any percentages to the nearest two (2) decimal places. Burkett's management would like to know the effect of your adjustment on the following ratios: - Current Ratio - ROA Information: On May 15th, 2021, Saola purchased 159,290 shares of ZHT, Inc.'s 354,000 outstanding shares for $2.40 per share. On December 31,2021,ZHT, Inc. reported net income of $941,000 and paid a dividend of $169,000. ZHT, Inc.'s market price per share on 12/31/2021 was $2.66. No entries have been for this investment. For investment calculations, the finance department has chosen to round any percentages to the nearest two (2) decimal places. Burkett's management would like to know the effect of your adjustment on the following ratios: - Current Ratio - ROA 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