Business, 15.02.2021 19:50 mcsaggers2842

Ayayai Inc. owns shares of Pina Corporation stock. At December 31, 2017, the securities were carried in Ayayai’s accounting records at their cost of $789,000, which equals their fair value. On September 21, 2018, when the fair value of the securities was $993,000, Ayayai declared a property dividend whereby the Pina securities are to be distributed on October 23, 2018, to stockholders of record on October 8, 2018. Prepare all journal entries necessary on those three dates. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
Date
Account Titles and Explanation
Debit
Credit
Sep. 21Oct. 8Oct. 23
(To record gain or loss)
(To record property dividend)
Sep. 21Oct. 8Oct. 23 Sep. 21Oct. 8Oct. 23

Answers: 1

Show answers

Another question on Business

Business, 21.06.2019 20:00

To be able to better compare stock performance within the same industry, similar companies are grouped into? a)market sectors b) industry blocks c) performance sectors d) average earning blocks

Answers: 1

Answer

Business, 22.06.2019 02:30

Witch is an example of a non durable good?

Answers: 1

Answer

Business, 22.06.2019 16:50

Identify and describe a variety of performance rating scales that can be used in organizations including graphical scales, letter scales, and numeric scales.

Answers: 2

Answer

Business, 22.06.2019 19:30

Which of the following constitute the types of unemployment occurring at the natural rate of unemployment? a. frictional and cyclical unemployment.b. structural and frictional unemployment.c. cyclical and structural unemployment.d. frictional, structural, and cyclical unemployment.

Answers: 2

Answer

You know the right answer?

Ayayai Inc. owns shares of Pina Corporation stock. At December 31, 2017, the securities were carried...

Questions