Question
In 2018, Vidalia had the following activities in long-term investments: May 10 Purchased 50,000 shares of Woodbine stock for $15 per share. Woodbine has 125,000
In 2018, Vidalia had the following activities in long-term investments:
May 10 | Purchased 50,000 shares of Woodbine stock for $15 per share. Woodbine has 125,000 shares of common stock outstanding. |
August 24 | Received a cash dividend of $2 per share on Woodbine stock. |
December 31 | Woodbine reported a net income of $478,000. |
Prepare the necessary journal entries for Vidalia's investment in Woodbine common stock.
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Date May 10 Aug 24 Dec 31 Account Title and Explanatio...
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Intermediate Accounting
Authors: James D. Stice, Earl K. Stice, Fred Skousen
17th Edition
032459237X, 978-0324592375
