Question
On January 1, 2017, Alpha Company purchased a significant influence shares investment in the Bravo-Zulu Company for $250,000.This investment balance represents 30% of the equity
On January 1, 2017, Alpha Company purchased a significant influence shares investment in the Bravo-Zulu Company for $250,000.This investment balance represents 30% of the equity of the Bravo-Zulu Company.During 2017, Bravo-Zulu Company reported Net Income of $25,000 on November 15, 2017 Bravo-Zulu Company paid cash dividends of $10,000 to its shareholders. Use this information to prepare the January 1, November 15 and December 31, 2017 General Journal entry (without explanation.) If no entry is required, then write "No Entry Required."
Alpha Company purchased a $1,000, 5 years, 6% bond on July 1, 2019 for $940. Interest is paid semi-annually on June 30 and Dec ember 31. The straight line method of amortization is used for both premiums & discounts. Use this information to prepare the adjusting General Journal entry (without explanation) for the six-months ended December 31, 2019. If no entry is required then write "No Entry Required."
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