Part (b) Sigma Corp common shares (FVOCI-elect) On January 15, 2022, Alpha Inc acquired 100,000 shares, representing 10% of the outstanding shares of Sigma Corp at a price of $13 per share plus brokerage commission of $6,000. On August 1, 2022, Sigma Corp declared and paid a dividend of $1.00 per share. On December 31, 2022, the shares of Sigma Corp were trading on the Stock Exchange at $14 per share. Required: Prepare journal entries to record the above transactions
Part (b) Sigma Corp common shares (FVOCI-elect) On January 15, 2022, Alpha Inc acquired 100,000 shares, representing 10% of the outstanding shares of Sigma Corp at a price of $13 per share plus brokerage commission of $6,000. On August 1, 2022, Sigma Corp declared and paid a dividend of $1.00 per share. On December 31, 2022, the shares of Sigma Corp were trading on the Stock Exchange at $14 per share. Required: Prepare journal entries to record the above transactions
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter15: Contributed Capital
Section: Chapter Questions
Problem 2MC: Cary Corporation has 50,000 shares of 10 par common stock authorized. The following transactions...
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