Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 15, 2024

The 1st. August, the Shaw LLC corporation. bought 1,000 common shares of Estrella Corp. for $ 37,000 in cash. The 1st. December, Shaw LLC. sold

The 1st. August, the Shaw LLC corporation. bought 1,000 common shares of Estrella Corp. for $ 37,000 in cash. The 1st. December, Shaw LLC. sold the investment in common shares of Estrella Corp. for US $ 40,000 in cash.

Present the corresponding records in the 'Journal' that reflect the purchase and sale of the common shares of Estrella Corp.

Present the records for these transactions of common shares of Estrella Corp. according to the method of the equity method

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

Step: 3

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

MIS Management Information Systems

Authors: Hossein Bidgoli

8th edition

978-1337406932, 1337406937, 978-1337406925, 1337406929, 978-0357004357

More Books

Students also viewed these Accounting questions

Question

★★★★★

Use the following information to answer the following. Income Tax rate is 34% Given the financial information presented above what would be the effect on net income before taxes in 2016 of converting...

Answered: 1 week ago

Question

★★★★★

Dewi Inc. has fixed costs of $220,000. The unit selling price, variable cost per unit, and contribution margin per unit for the company's two products are provided below. The sales mix for products A...

Answered: 1 week ago

Question

★★★★★

Are summer stipends available?

Answered: 1 week ago

Question

★★★★★

Richard Larkin has prepared the following list of statements about managerial accounting and financial accounting. 1. Financial accounting focuses on providing information to internal users. 2....

Answered: 1 week ago

Question

★★★★★

A company's board of directors votes to declare a cash dividend of $.85 per share of common stock. The company has 17,000 shares authorized, 12,000 issued, and 11,500 shares outstanding. The total...

Answered: 1 week ago

Question

★★★★★

Forse Florist specializes in large floral bouquets for hotels and other commercial spaces. The company has provided the following data concerning its annual overhead costs and its activity based...

Answered: 1 week ago

Question

★★★★★

The following financial statements and additional information are reported. IKIBAN INCORPORATED Comparative Balance Sheets Assets At June 30 Cash Accounts receivable, net Prepaid expenses 2021 2020 $...

Answered: 1 week ago

Question

★★★★★

At an air show, a jet is approaching you at a speed of 140 m/s. You hear the jet engine at 9. a frequency of 775 Hz. What was the emitted frequency of the jet engine? It was a hot day so the speed of...

Answered: 1 week ago

Question

★★★★★

Consider the following classic portfolio choice problem. Two assets are available to an investor at time t. One is riskless, with simple return Rf from time t to t+1 , and the other is risky. The...

Answered: 1 week ago

Question

★★★★★

What type of alcohol is (E)-2-methylhex-4-en-2-ol? O primary O secondary tertiary quaternary

Answered: 1 week ago

Question

★★★★★

Case 21-4 Grocery Inc. Grocery Inc. (Grocery or the Company), an SEC registrant, is a wholesale grocery distributor and retailer in the United States. One of the Companys core businesses is...

Answered: 1 week ago

Question

★★★★★

The Truth in Medical Advertising Act: 1. No drug or medical device requiring FDA approval shall be advertised on television until at least two years after it receives FDA approval. 2. Drugs or...

Answered: 1 week ago

Question

★★★★★

18. In the statements below, put a cross for the statement you feel characterizes yourself best when you communicate with others. Its not necessarily the way you know you should communicate, but the...

Answered: 1 week ago

Question

★★★★★

10. What activities in your life best express the value you want others to associate with you?

Answered: 1 week ago

Question

★★★★★

7. Also complete the following sentence: This core value is important to me when I ________________________. This is the situation this core value is important to you we are looking for here.

Answered: 1 week ago

Previous Question Next Question