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just need to prepare the only journal entry from one to 6 1. A. Red Company has excess cash to invest and pays $ 50.000
just need to prepare the only journal entry from one to 6
1. A. Red Company has excess cash to invest and pays $ 50.000 to buy $ 50.000 face value, % 5 five-year B Company's bonds July 1, 2019. Red Company plans to hold the bonds until maturity. B. On December 31, 2019 Red Company receives the first interest payment on the bond investment. C. When Red Company disposes of the bonds at maturity on June 30, 2024, it will receive the face value of the bonds. Assuming that the last interest payment has been recorded, the entry is: 2. A. On March 10, 2020 Red Company acquires 1000 shares of stock in C Company for $ 12 per share. Red Company owns less than 20 % of C Company's voting stock. B. C Company declares and pays a cash dividend of $0.50 per share May 15, 2020. Red Company receives the cash dividend on May 20. 3. A. November's taxable sales for Red Company total $ 20.000. The Company collects an additional 8 % sales tax, which equals $ 1600. B. When Red Company pays tax; it records the following. 4. A. On December 31, 2018, Red Company signs a $ 20.000 note payable. It is due in two annual payments of $ 10.000 PLUS 7 % interest each December 31. B. On December 31, 2019, Red Company must make its first installment of $ 10.000 principal plus interest on the note. 5. On December 31, 2019, Red Company purchases a building for $ 200.000, paying 49.800 in cash and signing a 20-year mortgage for $ 150.200. 6. A. On April 1, 2020. Red Company purchases 1000 shares of previously issued common stock, paying $6 per share. B. Red Company sells 200 of the treasury shares on April 20 2020 for $6 eachStep by Step Solution
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