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: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Advance Math
1.2K views

Consider the Sturm-Liouville problem X′′(x) + λX(x) = 0 subject toX′(0) = 0, X(l) = 0. Are...

Chemistry
1.2K views

GaAs is zinc-blende with a = 0.56 nm, ε = 12.8, me* = 0.067me, and mh*...

Biology
1.2K views

8 When probing the leech which section of the neuron responded to the brush ex...

Basic Math
1.2K views

14 Dok int rint rences Required information The following information applies to the questions displayed...

Basic Math
1.2K views

Imagine you are building a decision tree to predict whether a personal loan given to...

Basic Math
1.2K views

D into t Exercise 2 8 Consider the following polynomials Write down the action of...

Algebra
1.2K views

Use the graph of g to find g 2 g 2

Accounting
1.2K views

d) Project B has the following cash flow Year 1 Year 5 $ 20,000 PROJECT...

Accounting
1.2K views

Required information TB Problem 10-218 and 10-219 (Algo) [The following information applies to the questions...

Accounting
1.2K views

Prepare a statement of stockholders' equity for Hulu Incorporated for the year ended December 31...

Accounting
1.2K views

Friedman Company had bonds outstanding with a maturity value of $500,000. On April 30, 2013,...

Accounting
1.2K views

A 2022 contractual agreement with Brianna Inc. entitles Wheeler to $35 million for certain fees...