Buffalo Co. had purchased 160 shares of Washington Co. for $39 each this year (Oregon Co. does not have significant influence). Buffalo Co. sold 80 shares of Washington Co. stock for $45 each. At year-end, the price per share of the Washington Co. stock has dropped to $35.
Required:
Prepare the journal entries for these transactions and any year-end adjustments.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Buffalo Co. had purchased 160 shares of Washington Co. for $39 each this year (Oregon Co. does not have significant influence). Buffalo Co. ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Which of the following is a drawback of virtual teams? a. They are highly rigid because of organizationally dispersed team members. b. They make communication difficult among team members because of a lack of means of communication. c.
Answers (1)
The white house is willing to work with interest groups because they are
Answers (1)
Sunland Company began the year 2022 with $121000 in its Common Stock account and a debit balance in Retained Earnings of $51800. During the year, the company earned net income of $25900, and declared and paid $8600 of dividends.
Answers (1)
Hopetech Industries has a corporate diversity plan that limits diversity to areas that do not change throughout a person's lifetime, such as race, gender, age, and physical ability.
Answers (1)
A contract between recreational games & rides, inc., and summer fair corporation includes a provision excluding liability as a result of fraud. this provision is
Answers (1)
New Questions in Business
Give 2 examples of good interpersonal skills and describe how you have used those skills in your life.
Answers (1)
One way in which monopolistic competition differs from oligopoly is that a. there are no barriers to entry in oligopolies. b. in oligopoly markets there are only a few sellers. c. all firms in an oligopoly eventually earn zero economic profits. d.
Answers (1)
Suppose that Freddie's Fries has annual sales of $580,000; cost of goods sold of $455,000; average inventories of $17,000; average accounts receivable of $33,000, and an average accounts payable balance of $28,000.
Answers (1)
A computer company leases rather than sells its computers to consumers for a monthly fee. The company maintains the computers and replaces them as needed. The old computers are either refurbished or recycled. What does this business model represent.
Answers (1)
Ethan received a gift card and was considering three options: digital camera, cell phone, and video games. After carefully thinking about it, Ethan narrowed his decision down to the digital camera and the cell phone.
Answers (1)