a. On January 1, Yourkie Company acquired 30% of the outstanding stock of Harris Company for $300,000. DATE Debit Credit X/X b. For the year ended December 31, Harris Company earned income of $50,000. DATE Debit Credit X/X c. For the year ended December 31, Harris Company paid dividends of $8,000. DATE Debit Credit X/X d. On January 8th of the next year, Yorkshire Company sold the Harris Company stock for $301,000. DATE Debit Credit X/X i have a-c PLEASE ONLY HELP ON PART D
a. On January 1, Yourkie Company acquired 30% of the outstanding stock of Harris Company for $300,000. DATE Debit Credit X/X b. For the year ended December 31, Harris Company earned income of $50,000. DATE Debit Credit X/X c. For the year ended December 31, Harris Company paid dividends of $8,000. DATE Debit Credit X/X d. On January 8th of the next year, Yorkshire Company sold the Harris Company stock for $301,000. DATE Debit Credit X/X i have a-c PLEASE ONLY HELP ON PART D
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
100%
a. On January 1, Yourkie Company acquired 30% of the outstanding stock of Harris Company for $300,000.
|
DATE |
|
Debit |
Credit |
|
X/X |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
b. For the year ended December 31, Harris Company earned income of $50,000.
|
DATE |
|
Debit |
Credit |
|
X/X |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
c. For the year ended December 31, Harris Company paid dividends of $8,000.
|
DATE |
|
Debit |
Credit |
|
X/X |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
d. On January 8th of the next year, Yorkshire Company sold the Harris Company stock for $301,000.
|
DATE |
|
Debit |
Credit |
|
X/X |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
i have a-c PLEASE ONLY HELP ON PART D
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 4 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education