Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. ..... ... .. on february 1 mini company purcha

..... ... .. On February 1 Mini Company purchased 1.000 shares...

80.2K

Verified Solution

Question

Accounting

..... ... ..
image
On February 1 Mini Company purchased 1.000 shares (2% ownership of Win Company common stock for $30 per share. The shares are classified as a short-term investment On March 20, Mini Company sold 200 shares of Win stock for 55.800. Mini received a dividend of $1 per share on April 25. The fair value of the remaining stock is $26.400 on June 30. To record the initial purchase of the shares, Mini would debit O Common Stock in the amount of $30,000 Stock Investments in the amount of 30,000 Investment Expense in the amount of $30,000 Cash in the amount of $30.000

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Use R to generate n = 400 samples (idependent identically distributed random numbers) of X ∼...

Basic Math
Q

1. A consulting firm must decide now whether to hire a young engineer. The main purpose...

Statistics
Q

The backbone of phospholipids is Oglycerol Opolar phosphate head disaccharide chains a protein core

Biology
Q

A symmetrical right circular cone of wood floats in fresh water with axis vertical and...

Physics
Q

Prove the statement using the definition of a limit 7 2x lim x 1 3...

Calculus
Q

Use the given information to find the unknown value.y varies inversely with the square of...

Algebra
Q

cruz company had total sales of $3,600,000 for fiscal 20x1. the costs of quality-related activities...

Accounting
Q

Imperial Jewelers manufactures and sells a gold bracelet for $189.95. The company's accounting system says...

Accounting
Q

The stockholders' equity accounts of Pronghorn Corp. on January 1, 2022 were as follows. Preferred...

Accounting
Q

Brooklyn files as a head of household for 2022. They claimed the standard deduction of...

Accounting
Q

The following is the unadjusted trial balance for Rainbow Lodge Ltd. at its year end,...

Accounting
Q

Myu Distributors began the period with no merchandise inventory on hand. The following events occurred...

Accounting