On January 15, 2020 bieber co purchased 30,000 shares of Hand Co. at $35 per share, paying $10,000 in commissions to the broker of the deal. On March 17, 2020, Hand Co. paid a cash dividend of $2.50 per share. The fair value of the Hand Co. stock at the end of 2020 was $38 per share. During 2020, Hand Co. had net income of $3,000,000. Prepare the journal entries for Bieber Co. for the above transaction assuming the amount of shares purchased represents less than 20% of Hand Co. outstanding stock.

Q: 5. On June 1, 2020, Ping Corp. purchased 10,000 of Pong’s 50,000 outstanding shares at a price of…

A: solution given Date of purchase of share June 1 2020 Number of total share of pong 50000…

Q: short-term debt should be presented

A: Adjusting events are events occurring after the balance sheet date, before the issue of financial…

Q: On July 1, 2021, Funk Company has 400,000 shares of P25 par ordinary outstanding and the market…

A: No. of treasury shares after split = treasury shares x 5/1 = 50000  x 5/1 = 250,000 shares

Q: On January 1, 2020 Prateroon Company purchased all the net assets of Stranemon Company consisting…

A: On 01.01.2020, Prateroon company purchased all the net assets of Stranemon company. The purchase…

Q: Fizer Pharmaceutical paid $86 million on January 2, 2021, for 6 million shares of Carne Cosmetics…

A: A Journal entry is a primary entry that records the financial transactions initially. The…

Q: Rome Inc. acquired 50,000 ordinary shares of Egypt Company at P120 per share. On February 14, 2020,…

A: Shareholder means the owner of the company who is holding share in its name. Right share means where…

Q: On January 4, 2021, Runyan Bakery paid $324 million for 10 million shares of Lavery Labeling Company…

A: 1) Journal entries:

Q: On January 4, 2021, Runyan Bakery paid $340 million for 10 million shares of Lavery Labeling Company…

A: Investment accounts consist of the shares in which the company has invested its money and holds some…

Q: On July 1, 2021, Funk Company has 400,000 shares of P25 par ordinary outstanding and the market…

A: No. of treasury shares after split = treasury shares x 5/1 = 50000  x 5/1 = 250,000 shares

Q: On July 1, 2021, Funk Company has 400,000 shares of P25 par ordinary outstanding and the market…

A: Share split in the business is one in which one share of the company is split or broken into…

Q: Jackson Inc. purchased 30,000 shares of common stock of the Pixel Corporation $10 per share on…

A: calculation of revenue from investment and investment shown in balance sheet are as follows

Q: On Jan. 1, 2020, Terra Company established a share appreciation rights plan for the executives. The…

A: calculation of compensation income are as follows

Q: On December 31, 2020, Alexander Company had $1,200,000 of short-term debt in the form of notes…

A: Definition:   Liability: Liability is an agreement made by a company to pay a certain amount for the…

Q: On July 1, 2021, Funk Company has 400,000 shares of P25 par ordinary outstanding and the market…

A: No. of treasury shares after split = treasury shares x 5/1 = 50000  x 5/1 = 250,000 shares

Q: Harrison Co. purchases 5,000 of the 50,000 outstanding ordinary shares of Taylor, Inc for £500,000…

A: Formula: Investment balance at year end = Beginning investment balance + net income - Dividends paid

Q: Tulip Corp. purchased 300,000 shares of common stock in Sherman Co. for $50 per share on January 2,…

A: Income statement is the financial statement which is prepared to show the profitability of an…

Q: On July 1, 2021, Funk Company has 400,000 shares of P25 par ordinary outstanding and the market…

A: Balance in ordinary shares before split=Number of shares×Par value=400,000×P25=P 10,000,000

Q: The net unrealized loss at December 31, 2020 in accumulated OCI in shareholders' equity is

A: Unrealized loss is the loss which has been recorded by the company due to reason of change in the…

Q: Fizer Pharmaceutical paid $68 million on January 2, 2021, for 4 million shares of Carne Cosmetics…

A: Equity investments is referred to the investment made by one company in the shares of another…

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

A: Formula: Income from the investment = Total dividends paid x Percentage of holding shares

Q: On January 1, 2019, Matcha Company purchased 25% of the outstanding ordinary shares of Milk Tea…

A:

Q: On July 1, 2021, Funk Company has 400,000 shares of P25 par ordinary outstanding and the market…

A: Number of shares outstanding after split = Number of shares outstanding before split x Split ratio…

Q: Heidebrecht Design acquired 30% of the outstanding common stock of Oriole Company on January 1,…

A: 1) journal entries for Heidebrecht Design for 2020 assuming Heidebrecht Design cannot exercise…

Q: On January 15, 2020 bieber co purchased 30,000 shares of Hand Co. at $35 per share, paying $10,000…

A: A journal entry means the record the all business transaction of the company during the year for…

Q: On June 1, 2020, Ping Corp. purchased 10,000 of Pong's 50,000 outstanding shares at a price of P6.00…

A: Here we can see that ping corporation has purchased 10,000 shares out of 50,000 shares.  Therefore…

Q: On January 15, 2020 bieber co purchased 30,000 shares of Hand Co. at $35 per share, paying $10,000…

A: If a person is holding more than 20% shares in another company , then investment in that company…

Q: On June 1, 2020, Ping Corp. purchased 10,000 of Pong's 50,000 outstanding shares at a price of P6.00…

A: The correct statement is

Q: On January 1, 2019, Matcha Company purchased 25% of the outstanding ordinary shares of Milk Tea…

A: Here discuss about the details of the equity investment and its carrying value after added up the…

Q: At December 31, 2020, BFAR Corp. had 20,000 treasury shares that had been re-acquired in 2020 at P14…

A: Treasury stock: Shares that are bought back by the company from the open market but not retired from…

Q: On April 1, 2019, Star Company purchased 30,000 ordinary shares of Moon Company at P180 per share, a…

A: The investment in equity shares of another company is recorded in the books of investor either by…

Q: Harrison Co. owns 20,000 of the 50,000 outstanding ordinary shares of Taylor, Inc. During 2021,…

A: The holding of share are considered as the investment and the  balance of investment can be…

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

A: Solution:Total cost of investment = Purchase cost + Brokerage fee - dividend= 40000*100 + 120000 -…

Q: What amount will be recorded as goodwill on January 1, 2020?

A: Goodwill is the amount which is occurred and takes place when the person pays more than the amount…

Q: On July 1, 2021, Funk Company has 400,000 shares of P25 par ordinary outstanding and the market…

A: Number of shares outstanding after split = Number of shares outstanding before split x Split ratio…

Q: On January 4, 2018, Runyan Bakery paid $324 million for 10 million shares of Lavery Labeling…

A: 1. Prepare all appropriate journal entries related to the investment during 2016, assuming Runyan…

Q: On July 1, 2021, Funk Company has 400,000 shares of P25 par ordinary outstanding and the market…

A: Number of shares outstanding after split = Number of shares outstanding before split x Split ratio…

Q: On January 1, 2020, Orr Co. established a stock appreciation rights plan for its executives. They…

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

Q: On July 1, 2021, Funk Company has 400,000 shares of P25 par ordinary outstanding and the market…

A: No. of treasury shares after split = treasury shares x 5/1 = 50000  x 5/1 = 250,000 shares

Q: On January 1, 2020, Windsor Company purchased 6,100 shares of Kusher Company stock for $439,200.…

A: Revenue for 2020 (Net income x 30%) $ 136,800     Balance in investment account:…

Q: On January 1, 2020 Prateroon Company purchased all the net assets of Stranemon Company consisting…

A: Liabilities: The claims creditors have over assets or resources of a company are referred to as…

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: On January 1, 2020 Prateroon Company purchased all the net assets of Stranemon Company consisting…

A: Total Liabilities on January 1, 2020

Q: On July 1, 2021, Funk Company has 400,000 shares of P25 par ordinary outstanding and the market…

A: General Journal   Debit   Credit  Cash [(50,000 shares * 5 *50%) * P10] P12,50,000…

Q: On July 1, 2021, Funk Company has 400,000 shares of P25 par ordinary outstanding and the market…

A: No. of treasury shares after split = treasury shares x 5/1 = 50000  x 5/1 = 250,000 shares

Q: On January 4, 2021, Runyan Bakery paid $360 million for 10 million shares of Lavery Labeling Company…

A: The equity method is a bookkeeping procedure utilized by an organization to record the benefits…

Q: On July 1, 2021, Funk Company has 400,000 shares of P25 par ordinary outstanding and the market…

A: Number of shares outstanding after split = Number of shares outstanding before split x Split ratio…

Q: On April 1, 2019, Star Company purchased 30,000 ordinary shares of Moon Company at P180 per share, a…

A:

Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.