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This is all the information that was provided. Can you list what else is needed? On January 1st 2020 the Voldo Company made the following
This is all the information that was provided. Can you list what else is needed?
On January 1st 2020 the Voldo Company made the following 2 investments: a) purchased 100 of the 10,000 shares of P Company for $2000, at this time all of Ps assets had book values equal to market values Voldo has no influence over P b) purchased 100 of the 300 shares of H Company for $10,000 at this time all of H assets had a book value equal to market value except a wand which had a book value of $300 and a fair market value of $1200. The wand has a 10 year life and no salvage H depreciates all of its assets using straight line depreciation Voldo has placed his cousin Severus Snape on the board of directors of H On July 1st P Company declared and paid a $1 per share dividend On October 1st H Company declared and paid a $1 per share dividend On December 31st P Company's stock was selling for $22 per share and P reported income of $20,000 On December 31st H stock was selling for $102 per share and reported income of $1500 2021 On July 1st P Company declared and paid a $1 per share dividend On October 1st H Company declared and paid a $1 per share dividend On December 1st P Company had a 2 for 1 stock split On December 31st P stock was selling for $10.25 per share and P reported a loss of $1000 On December 31st H stock was selling for $99 per share and reported a loss of $400 2022 On January 5th Voldo sold 1/2 of his shares in H Company at $99.50 per share and Himmediately removed Snape from its board of directors On July 1st P Company reported that they would not pay any dividends this year On December 1st Voldo sold all of its shares in P Company at $10.50 per share On December 31st, P's stock was selling at $11.25 per share and P reported income of $4000 On December 31st H stock was selling for $100 per share and H reported income of $900 2023 On January 2nd Voldo sold all of its H stock at $99.80 per share. REQUIRED: A) MAKE ALL THE NECESSARY JOURNAL ENTRIES FOR Voldo CONNECTED WITH ITS INVESTMENT IN P FOR 2020, 2021 2022 B) MAKE ALL THE NECESSARY JOURNAL ENTRIES FOR Voldo CONNECTED WITH ITS INVESTMENT IN H FOR 2020,2021,2022 C FILL IN THE TABLE BELOW: 2020 2021 2022 VALUE OF P INVESTMENT 12/31 BALANCE SHEET INCOME EFFECT OF OWNING P STOCK VALUE OF H INVESTMENT 12/31 BALANCE SHEET On January 1st 2020 the Voldo Company made the following 2 investments: a) purchased 100 of the 10,000 shares of P Company for $2000, at this time all of Ps assets had book values equal to market values Voldo has no influence over P b) purchased 100 of the 300 shares of H Company for $10,000 at this time all of H assets had a book value equal to market value except a wand which had a book value of $300 and a fair market value of $1200. The wand has a 10 year life and no salvage H depreciates all of its assets using straight line depreciation Voldo has placed his cousin Severus Snape on the board of directors of H On July 1st P Company declared and paid a $1 per share dividend On October 1st H Company declared and paid a $1 per share dividend On December 31st P Company's stock was selling for $22 per share and P reported income of $20,000 On December 31st H stock was selling for $102 per share and reported income of $1500 2021 On July 1st P Company declared and paid a $1 per share dividend On October 1st H Company declared and paid a $1 per share dividend On December 1st P Company had a 2 for 1 stock split On December 31st P stock was selling for $10.25 per share and P reported a loss of $1000 On December 31st H stock was selling for $99 per share and reported a loss of $400 2022 On January 5th Voldo sold 1/2 of his shares in H Company at $99.50 per share and Himmediately removed Snape from its board of directors On July 1st P Company reported that they would not pay any dividends this year On December 1st Voldo sold all of its shares in P Company at $10.50 per share On December 31st, P's stock was selling at $11.25 per share and P reported income of $4000 On December 31st H stock was selling for $100 per share and H reported income of $900 2023 On January 2nd Voldo sold all of its H stock at $99.80 per share. REQUIRED: A) MAKE ALL THE NECESSARY JOURNAL ENTRIES FOR Voldo CONNECTED WITH ITS INVESTMENT IN P FOR 2020, 2021 2022 B) MAKE ALL THE NECESSARY JOURNAL ENTRIES FOR Voldo CONNECTED WITH ITS INVESTMENT IN H FOR 2020,2021,2022 C FILL IN THE TABLE BELOW: 2020 2021 2022 VALUE OF P INVESTMENT 12/31 BALANCE SHEET INCOME EFFECT OF OWNING P STOCK VALUE OF H INVESTMENT 12/31 BALANCE SHEETStep by Step Solution
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