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The following transactions for Universal Co., determine the correct amounts: (a) Jan. 15, 2018 Universal Co. purchased 80,000 shares of the total of 200,000 outstanding
The following transactions for Universal Co., determine the correct amounts: (a) Jan. 15, 2018 Universal Co. purchased 80,000 shares of the total of 200,000 outstanding shares of Vine Corp. stock for $12 per share plus a $500 commission. Enter the Amount of the Investment in Vine Corp. $ (b) June 30, 2018 Vine Corp's net income for the period are $250,000. For Universal Co. enter: Enter the Amount of Universal Co.s share of the Vine Corp. net income $ Enter the name of the Debit Account for Universal's share of Net Income Enter the name of the Credit Account for Universal's share of Net Income (c) July 17, 2018 Vine Corp. paid a total of $125,000 in cash dividends. Enter the amount of Universal's share of the Vine Corp. dividend $ (d) Enter the book value of the investment in Vine Corp. as of Dec 31, 2018. $
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