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Need help with these adjusting entries. Please help! Schedule 1 Java the Hut Account Analysis Other Assets - Holding Account Analysis as of 3/31/18 Acquisition
Need help with these adjusting entries. Please help!
Schedule 1 Java the Hut Account Analysis Other Assets - Holding Account Analysis as of 3/31/18 Acquisition of New Castle Coffee on 1/1/18 Stock acquisition of 1,000 shares outstanding (Par Value =$1.00 ) Percent of shares outstanding 100% Purchase price at settlement Acquisition Expense $150,000 Debt set-up costs (revolving credit agreement) $12,000 $6,000 Acquisition of New Castle Coffee on 1/1/18 $168,000 Equity investment in Newark Coffee Activity Purchase of 40% interest of shares outstanding 1/1/18 $44,000 Dividends received on 3/1/18 (in cash) $(2,000) Equity investment in Newark Coffee Activity $42,000 Other Assets - Holding Account Analysis as of 3/31/18 $210,000 Objective#AccountObjective#1:EliminatedOtherAssets-HoldingStep by Step Solution
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