Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please answer only using these options for journal entry bond discount bond premium bonds payable cash dividend revenue dividends payable dividends receivable equity in investee

image text in transcribed
please answer only using these options for journal entry

bond discount

bond premium

bonds payable

cash

dividend revenue

dividends payable

dividends receivable

equity in investee earnings

gain on sale of investment

goodwill

interest revenue

investments

loss on sale of investments

property and equipment

unrealized gain

unrealized loss

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Required information [The following information applies to the questions displayed below] Below are selected T-accounts related to equity investments for William Company. Required: a. Prepare the journal entry for the purchase of additional investments in affiliated componies for cash. b. Prepare the journal entry for the declaration of cash dividends on the investments. c. At year-end, the investments account had a fair value of $63,200, the affiliates also reported $5,950 in net income for the year. Prepare the year-end journal entry. Note: If no entry is required for a transaction/event, select "No journat entry required" in the first account field. Required: a. Prepare the journal entry for the purchase of additional investments in affiliated companies for cash. b. Prepare the journal entry for the declaration of cash dividends on the investments. c. At year-end, the investments account had a fair value of $63,200; the affiliates also reported $5,950 in net income Prepare the year-end Journal entry. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet 4 Record purchase of additional investment in affiliates. Note: Enter debits before credits. Required: a. Prepare the journal entry for the purchase of additional investments in affiliated companies for cash. b. Prepare the journal entry for the declaration of cash dividends on the investments. c. At year-end, the investments account had a fair value of $63,200; the affillates also reported $5,950 in ne Prepare the year-end journal entry. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account Journal entry worksheet 4 Record the declaration of dividends: Note: Enter debits before credits. Required: a. Prepare the journal entry for the purchase of additional investments in affiliated companies for cas b. Prepare the journal entry for the declaration of cash dividends on the investments. c. At year-end, the investments account had a fair value of $63,200; the affiliates also reported $5,9 ? Prepare the year-end journal entry. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first a Journal entry worksheet Record the change in the fair value of the investments at year end. Note: Enter debits before credits. Required: a. Prepare the joumal entry for the purchase of additional investments in affiliated companies for cash. b. Prepare the journal entry for the declaration of cash dividends on the investments. c. At year-end, the investments account had a fair value of $63,200; the affiliates also reported $5,950 in net income for the Prepare the year-end journal entry. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet 1 Record the entry to account for net income for the year. Note: Enter debiss before credits Required information [The following information applies to the questions displayed below] Below are selected T-accounts related to equity investments for William Company. Required: a. Prepare the journal entry for the purchase of additional investments in affiliated componies for cash. b. Prepare the journal entry for the declaration of cash dividends on the investments. c. At year-end, the investments account had a fair value of $63,200, the affiliates also reported $5,950 in net income for the year. Prepare the year-end journal entry. Note: If no entry is required for a transaction/event, select "No journat entry required" in the first account field. Required: a. Prepare the journal entry for the purchase of additional investments in affiliated companies for cash. b. Prepare the journal entry for the declaration of cash dividends on the investments. c. At year-end, the investments account had a fair value of $63,200; the affiliates also reported $5,950 in net income Prepare the year-end Journal entry. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet 4 Record purchase of additional investment in affiliates. Note: Enter debits before credits. Required: a. Prepare the journal entry for the purchase of additional investments in affiliated companies for cash. b. Prepare the journal entry for the declaration of cash dividends on the investments. c. At year-end, the investments account had a fair value of $63,200; the affillates also reported $5,950 in ne Prepare the year-end journal entry. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account Journal entry worksheet 4 Record the declaration of dividends: Note: Enter debits before credits. Required: a. Prepare the journal entry for the purchase of additional investments in affiliated companies for cas b. Prepare the journal entry for the declaration of cash dividends on the investments. c. At year-end, the investments account had a fair value of $63,200; the affiliates also reported $5,9 ? Prepare the year-end journal entry. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first a Journal entry worksheet Record the change in the fair value of the investments at year end. Note: Enter debits before credits. Required: a. Prepare the joumal entry for the purchase of additional investments in affiliated companies for cash. b. Prepare the journal entry for the declaration of cash dividends on the investments. c. At year-end, the investments account had a fair value of $63,200; the affiliates also reported $5,950 in net income for the Prepare the year-end journal entry. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet 1 Record the entry to account for net income for the year. Note: Enter debiss before credits

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Energy Audit Of Building Systems An Engineering Approach

Authors: Moncef Krarti

3rd Edition

0367820463, 978-0367820466

More Books

Students also viewed these Accounting questions