Business, 15.07.2021 16:50 student679

On December 31, 2018, the end of its first year of operations, Cullumber Associates owned the following securities that are held as long-term investments. Common Stock Shares Cost
C Co. 1,060 $51,940
D Co. 5,460 38,766
E Co. 1,206 25,326

On this date, the total fair value of the securities was equal to its cost. The securities are not held for influence or control over the investees. In 2019, the following transactions occurred.

July 1 Received $2 per share semiannual cash dividend on D Co. common stock.
Aug. 1 Received $0.50 per share cash dividend on C Co. common stock.
Sept. 1 Sold 990 shares of D Co. common stock for cash at $8 per share.
Oct. 1 Sold 300 shares of C Co. common stock for cash at $53 per share.
Nov. 1 Received $1 per share cash dividend on E Co. common stock.
Dec. 15 Received $0.50 per share cash dividend on C Co. common stock.
31 Received $2.10 per share semiannual cash dividend on D Co. common stock.

At December 31, the fair values per share of the common stocks were C Co. $48, D Co. $6.90, and E Co. $25. These investments should be classified as long-term.

Required:
Journalize the 2019 transactions.

Answers: 1

Show answers

Other questions on the subject: Business

Business, 21.06.2019 23:30, rbriezz

The uno company was formed on january 2, year 1, to sell a single product. over a 2-year period, uno’s acquisition costs have increased steadily. physical quantities held in inventory were equal to 3 months’ sales at december 31, year 1, and zero at december 31, year 2. assuming the periodic inventory system, the inventory cost method which reports the highest amount for each of the following is inventory december 31, year 1/ cost of sales year 2 a: lifo fifo b: lifo lifo c: fifo fifo d: fifo lifo

Answers: 3

continue

Business, 22.06.2019 03:40, f13vsdbd

Electronics assembly inc. is a contract manufacturer that assembles consumer electronics for a number of companies. currently, the operations manager is assessing the capacity requirements as input into a bid for a job to assemble cell phones for a major global company. the company would assemble three models of cell phones in the same assembly cell. setup time between the phones is negligible. electronics assembly inc. operates two 8-hour shifts for 275 days per year. cell phone demand forecast (phones/year) processing time (minutes/phone) mars 47,000 19.8 saturn 35,000 20.7 neptune 7,500 16.2 a. calculate total capacity required by line. b. determine the total operating time available. c. calculate the total number of assembly cells. (round up your answer to the next whole number.)

Answers: 2

continue

Business, 22.06.2019 03:50, haydenbell269

John is a 45-year-old manager who enjoys playing basketball in his spare time with his teenage sons and their friends. at work he finds that he is better able to solve problems that come up because of his many years of experience, but while on the court, he finds he is not as good keeping track of the ball while worrying about the other players. john's experience is:

Answers: 1

continue

Business, 22.06.2019 20:20, chem1014

Digitalhealth electronics inc. is a company that builds diagnostic devices. it was the first company to develop a compact mri scanner by reconfiguring the components of the mri technology. this smaller and user-friendly version of the huge mri scanner created demand from small hospitals, nursing homes, and private practice doctors who were earlier dependent on the scanning machines in large hospitals. which of the following types of innovations does this scenario best illustrate? a. disruptive innovation b. incremental innovation c. radical innovation d. architectural innovation

Answers: 3

continue

You know the right answer?

On December 31, 2018, the end of its first year of operations, Cullumber Associates owned the follow...