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Listed below are a few events and transactions of Kodax Company Year 1 Jan. 2 Purchased 67,000 shares of Grecco Co. common stock for $576,000
Listed below are a few events and transactions of Kodax Company Year 1 Jan. 2 Purchased 67,000 shares of Grecco Co. common stock for $576,000 cash. Grecco has 201,000 shares of common stock outstanding, and its activities will be significantly influenced by Kodax. Sept. 1 Grecco declared and paid a cash dividend of $1.00 per share. Dec. 31 Grecco announced that net income for the year is $515,400. Year 2 June 1 Grecco declared and paid a cash dividend of $1.50 per share. Dec. 31 Grecco announced that net income for the year is $747,900. Dec. 31 Kodax sold 14,000 shares of Grecco for $160,000 cash. ces Prepare journal entries to record the above transactions and events of Kodax Company (Do not round intermediate calculations and round your final answers to the nearest dollar amount.) Journal entry worksheet 1 2 3 4 5 6 > Purchased 67,000 shares of Grecco Co. common stock for $576,000 cash. Grecco has 201,000 shares of common stock outstanding, and its activities will be significantly influenced by Kodax. Note: Enter debits before credits. Date General Journal Debit Credit Jan. 2, Year 1 Record entry Clear entry View general journal Journal entry worksheet 1 2 3 4 5 6 > Grecco declared and paid a cash dividend of $1.00 per share. Note: Enter debits before credits. Date General Journal Debit Credit Sept. 1, Year 1 Record entry Clear entry View general journal Journal entry worksheet 1 2. 3 4 5 > Grecco announced that net income for the year is $515,400. Note: Enter debits before credits. Date General Journal Debit Credit Dec. 31, Year 1 Record entry Clear entry View general journal Journal entry worksheet
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