dec 31: palomino reports net income of 60,000 for 2018

On January 1, 2018, Wallace, incdecides to invest in 7.500 shares of Palomino slock when the stock is selling for $10 per stare On May 1, 2018, Palomino paid a $1.30 por share cash dividendo stockholm on December 31, 2018 Palomino reports net income of $60.000 for 2018. Anume Palomino has 30,000 shares of voting stock outstanding during 2018 and Walace has significant ince Chap over Puomine Dyna Read the former Modi Requirements. Kartly what type of wetmeet the Paloming stock la tor Wataon Com Welce's investiment would be a ficar influence Requirement Journalize the transactions reed to Wis investment in the Palomin stock during 2018 (Recordebts in the credits Select the explanation on the line of the arty tot not toured soledo entry record cohe first ine of the counts and figuration column and he remaining cela blank Jaunty 1 Watson.inc on to invest in 7.300 hrs of Palominowo when the stock is sling for $10 per share Accounts and plants Credit 100.000 Date Multi On January 1, 2018, Wallace ine decides to invest in 7.500 shares of Palomino stock when the stock is selling for $18 per Share On May 1, 2018, Palomino paid a 51.30 per share cash dividendo stockholders On December 31, 2018 Palomino reports net income of $80.000 for 2018. Assume Palomino has 30.000 shares of voting Mook outstanding during 2016 and Walece has significant info Chap over Palomino Dyna Read the tour Mode Say 1: Wace, inc. decides to invest in 7,500 shares of Palomino stock when the stock is soling for $18 per share Com Accounts and explanation Debit Credit Bouity investments-Palomino 135,000 Cash Purchased for at method May 1. Promno pada 5130 per have to her On January 1, 2018, Watce, Inc. decides to invest in 7.500 shares of Palomino stock when the stock is selling for $18 per share on May 1, 2018 Palomino pada 5130 per share catho videndo stockholders On December 31, 2015, Palomino reports net income of $60.000 for 2018. Assume Palomino has 30.000 shares of voting stock standing during 2016 and Wallace has significant influence Chap over Palomino Dyna Read the requirements Modi May 1: Palomino paid a 5130 per share cash vided to stockholders Com Date Accounts and Explanation Credit May 1 C 9.750 Hauty wirt-Plomino 0.750 Received hvidend fequity method December 31 Palomino mert net income of 500,000 for 2018 December 39: Palomino reports net income of 500,000 for 2018, Date Accounts and explanation Des 31 Equity vestments-Proming Revenue from Investments Debit Credit Recorded revenue came from investment culty method Choose from any it or enter any number in the input fields and then gick Check