Using the following categories, indicate the effects (direction and amount) of the transactions listed in MD-1. Use
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In MD 1
On January 2, 2013, Ubuy.com paid $100,000 to acquire 25 percent (10,000 shares) of the common stock of E-Net Corporation. The accounting period for both companies ends December 31. Give the journal entries for the purchase on January 2, and for each of the following transactions that occurred during 2013:
July 2 E-Net declared and paid a cash dividend of $3 per share.
Dec. 31 E-Net reported net income of $200,000?
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...
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Jeremy Jackson
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Related Book For 
Fundamentals of Financial Accounting
ISBN: 978-0078025372
4th edition
Authors: Fred Phillips, Robert Libby, Patricia Libby
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