On May 10, a company issued for cash 1,900 shares of no-par common stock (with a stated value of $5) at $17, and on May 15, it issued for cash 5,000 shares of $18 par preferred stock at $61. Journalize the entries for May 10 and 15, assuming that the common stock is to be credited with the stated value. If an amount box does not require an entry, leave it blank. May 10 - Select - - Select - - Select - - Select - - Select - - Select - May 15 - Select - - Select - - Select - - Select - - Select - - Select -

2)

Emmett and Sierra formed a partnership dividing income as follows:

1. Annual salary allowance to Emmett of $38,400
2. Interest of 8% on each partner's capital balance on January 1
3. Any remaining net income divided equally.

Emmett and Sierra had $34,200 and $141,900, respectively in their January 1 capital balances. Net income for the year was $219,800.

How much net income should be distributed to Emmett? $fill in the blank 1

3)

Entries for equity investments: 20%50% ownership

On January 4, 20Y4, Ferguson Company purchased 56,000 shares of Silva Company's common stock directly from one of the founders for a price of $63 per share. Silva has 200,000 shares outstanding, including the Daniels shares. On July 2, 20Y4, Silva paid $162,000 in total dividends to its shareholders. On December 31, 20Y4, Silva reported a net income of $503,000 for the year.

a. Journalize the Ferguson Company entries for the transactions involving its investment in Silva Company during 20Y4. If an amount box does not require an entry, leave it blank.

20Y4, Jan. 4	CashDividend RevenueIncome of Silva CompanyInvestment in Silva Company StockNotes Receivable	- Select -	- Select -
	CashDividend RevenueIncome of Silva CompanyInvestment in Silva Company StockNotes Receivable	- Select -	- Select -
20Y4, July 2	CashDividend RevenueIncome of Silva CompanyInvestment in Silva Company StockNotes Receivable	- Select -	- Select -
	CashDividend RevenueIncome of Silva CompanyInvestment in Silva Company StockNotes Receivable	- Select -	- Select -
20Y4, Dec. 31	CashDividend RevenueIncome of Silva CompanyInvestment in Silva Company StockNotes Receivable	- Select -	- Select -
	CashDividend RevenueIncome of Silva CompanyInvestment in Silva Company StockNotes Receivable	- Select -	- Select -

b. Determine the December 31, 20Y4, balance of Investment in Silva Company Stock. $fill in the blank 4dbec6f29faafd0_1