February 20, 2020: Lee Ranger purchased 100 shares of Pine Corp. stock for $30 a share. April 7, 2020: Lee sold 50 shares of Pine Corp. stock for $20 a share. April 24, 2020: Lee purchased 25 shares of Pine Corp. stock for $25 a share. What is the basis of the 25 shares purchased on April 24, 2020? $625 $875 $1,125 $750

Q: Wilson corporation buys the following investments on January 10, 2019: 1,000 shares in Foxcom,…

A: The amount of investment on balance sheet date is calculated by multiplying the shares held by the…

Q: On January 2, 2020, Theodora Company purchased 40,000 shares of Byzantine, Inc. stock at P100 per…

A: Purchased price of share (40,000 Share * P100) P40,00,000 Add: Brokerage fees P1,20,000 Initial…

Q: On January 1, 2020, Pennington Corporation purchased 30% of the common shares of Edwards Company for…

A: Account Titles and Explanation Debit Credit Investments - Edwards Company $180,000…

Q: Dr. Smith started Biotech Inc. (BTE). on October 1, 2020. On October 1, 20 common shares to Dr.…

A: Journal entries in the books of Biotech Inc.( BTE) Date Particulars Debit Credit 1st October…

Q: Aranda Corporation made the following cash purchases of securities during 2020, which is the first…

A: Investments:   Companies invest in stocks and bonds of other companies or governmental entity to…

Q: Zwick Company bought 12,000 ordinary shares of Handy Corporation in January 2019. In December, Hart…

A: Dividend is the sum of money which is regularly paid by the company after a specific period of time…

Q: Dr. Smith started Biotech Inc. (BTE). on October 1, 2020. On October 1, 2020, BTE issued 100 common…

A: A stock dividend is the distribution of a dividend paid in the manner of equity instead of cash and…

Q: r corporation has 1,000 shares of common stock outstanding, 200 of which are owned by doug. on june…

A: Redemption means company company buy its own share from shareholders.

Q: n January 2, 2020, Gamu Company purchased as a long term investment 10,000 ordinary shares of llagan…

A: Solution: Cost of investment = 10000*P70 = P700,000 Sale value of investment = 10000*P100 =…

Q: net income

A: Net income refers to income of company after deducting all expenses. It is final value of profit and…

Q: 1. Nicco owns 6,000 shares of a company at P780 per share. He also owns 25,000 shares for another…

A: 1. Total value of shares = Number of shares * Price per share

Q: 2018 Aug-01 Purchased 1,000 shares of Star Company for P60,000. Oct-01 Purchased 8,000 shares of…

A: Given: The data is given as below, 2018Aug-01 Purchased 1,000 shares of Star Company for…

Q: Matt owns 10 percent of the 5,000 shares of Green Corporation. On July 1, 2020, Green Corporation…

A: Lets understad the basics. Stock dividend is a dividend paid by the company in stock and not in…

Q: On January 1, 2019, Lallo Company purchased 15% of Vintar Company’s ordinary shares for P20,000,000.…

A: Lallo will report the dividend as it's income from the investment.

Q: On January 1st 2020, the Tesla Company purchased 400 of the 1000 shares of the Spaceship Enterprise…

A: Journal Entry The purpose of preparing the journal entry to enter the required transaction which are…

Q: 1.Adams owns 80% of Williams and has a carrying value of the investment at January 1, 2020 of…

A: Journal entry is a process of recording business transactions in the books of accounts for the first…

Q: On December 31, 2019, Kier Corporation purchased 30,000 shares of Lord Company's shares at P100…

A: When the shareholder of an entity is given an invitation to purchase more or additional shares of…

Q: Pangan Corp. acquired 4,000 shares of Agustin, Inc. ordinary shares on Oct. 20, 2018 for P660,000.…

A: Answer with explanation are as follows

Q: Harold Hass owns 100 shares of Spartan Corp. common stock with an adjusted basis of $10090. On July…

A: Adjusted Basis: It  is the net cost of an asset after  being adjusted  for various tax-related items…

Q: f identical XYZ stock for $8,000.  What is Sam's basis in the XYZ stock purchased on January 10,…

A: Buying a Stock Investment: Buying a stock investment occurs when an investor acquires ownership of a…

Q: Sunny Co purchased 20,000 shares in Peter Co on 1 August 2020 at a cost of $6.0 each. Transaction…

A: Base on IFRS Investment, shares can be accounted as fair value through profit or loss, if intention…

Q: On January 1, 2019, Lallo Company purchased 15% of Vintar Company's ordinary shares for P20,000,000.…

A: Lallo will report the net income from investment using the cost method.

Q: On March 31, 2018, Chow Brothers, Inc., bought 10% of KT Manufacturing’s capital stock for $50…

A: Workings: Purchased 10 % of KT manufacturing's capital stock for $ 50 millions.

Q: 4. MANGO Company acquired 4,000 shares of KIWI Corporation ordinary shares on April 2, 2020 at a…

A: Investments are sold to receive the benefit by gaining the highest rate of return. The investments…

Q: Beauty Company purchased 10,000 shares of Taylor company's ordinary shares at P80 per share in 2021.…

A:

Q: there are no tax consequences for either individual in a given year, you should clearly state this…

A:

Q: On December 31, 2019, Kier Corporation purchased 30,000 shares of Lord Company's shares at P100…

A: Given that the Kier corporation holds 30,000 shares in Lord company.  Kier corporation Rights=…

Q: On January 2, 2021, Sanborn Tobacco Inc. bought 5% of Jackson Industry’s capital stock for $90…

A: 1.

Q: Penny owns 501 shares of Mack Co. They have an adjusted cost base of $15.6 per share. On March 31,…

A: Adjusted cost bases is the basis in which all costs which are paid to acquire the shares are taken…

Q: For the next (2) two questions: STU Company purchased 10,000 shares representing 2% ownership of…

A: The income statement of a company represents the outcome of the operations of the business in terms…

Q: On January 1, 2019, Lallo Company purchased 15% of Vintar Company's ordinary shares for P20,000,000.…

A: Income from investment means dividend received by Lallo company paid by Vintar company.

Q: Harold Hass owns 100 shares of Spartan Corp. common stock with an adjusted basis of $10090. On July…

A: Common stock refers to the shares that are issued by the company to raise funds from the market by…

Q: February 20, 2021: Lee Remington purchased 100 shares of Oak Corp. stock for $40 a share. April 7,…

A: SOLUTION-   FORMULA- THE BASIC VALUE = NUMBER OF SHARES * PURCHASE PRICE.

Q: 1. Determine the dividend income recognized by Hough on the equity instrument in 2020 and 2021. 2.…

A: Dividend Income = Number of Shares * Dividend per Share. Carrying Amount = Number of Shares * Fair…

Q: On March 31, 2021, Chow Brothers, Inc., bought 10% of KT Manufacturing’s capital stock for $50…

A: A journal entry is used to record day-to-day transactions of the business by debiting and crediting…

Q: On January 2, 2018, Sanborn Tobacco Inc. bought 5% of Jackson Industry’s capital stock for $90…

A:

Q: 1. How much is the income recognized upon receipt of share rights? a. P0  b. P10,000 c. P20,000  d.…

A: On April 5. 2020, Paul Company purchased P50 par, 10,000 ordinary shares of George Company at P80…

Q: Shangrila bought shares of Crossing, Inc. in two batches as follows: June 10, 2019 December 5, 2019…

A: First, we must compute the carrying amount of the crossing shares at December 31, 2020.

Q: Prepare entries to record the following transactions of Garcia Company. 2019 Jan. 1 Purchased 400…

A: Dividend received on Aug. 1, 2019 = No. of shares x dividend per share = 400 shares x $2 per share =…

Q: Case A: On January 1, 2021, your company purchased 60,000 shares of Freeze Company's $10 par common…

A: Entries for the year 2021 a. Investment a/c dr. 166000 to bank 166000 b.bank a/c dr. Â Â  30000 to…

Q: Shakey Corporation owned 30,000 Ordinary shares of Macdo Corporation purchased in 2019 for P…

A: A property dividend is a type of dividend that replaces cash or stock dividends by giving…

Q: A Owns 500 ordinary shares of B Company which has several hundred thousand shares publicly traded.…

A: It is observed that the given problem relates with investment accounting. In investment accounting…

Q: [The following information applies to the questions displayed below.] The following information…

A: Investment Accounting: When money is used to purchase an investment instrument, the accounting for…

Q: Dr. Smith started Biotech Inc. (BTE) on October 1, 2020. On October 1, 2020, BTE issued 100 common…

A: I am answering the first question as per bartleby policies. Please re-submit the remaining questions…

Q: On December 1, 2020, Citrus purchased 200,000 shares representing 45 percent of the outstanding…

A: Citrus long term investment in Berry should be shown in Citrus December 31, 2020, statement of…

Q: Fish Galore Corp. bought 25% of Fin Chaser Corporation's stock for $70,000 on January 1, 2020.…

A: Journal entries are passed following the golden rules of accounting  Debit all assets and expenses…

Q: rchased 300 shares of OXG stock on August 2, 2020, for $1,500. In October 2021, OXG issued a 10%…

A: Basis is the value of assets held by the person for accounting and taxation purposes and assets can…