Please don't give image format Entries for equity investments: 20%-50% ownershipOn January 4, 20Y4, Ferguson Company purchased 62,500 shares of Silva Company's common stockdirectly from one of the founders for a price of $37 per share. Silva has 250,000 shares outstanding,including the Daniels shares. On July 2, 20Y4, Silva paid $181,000 in total dividends to its shareholders. OnDecember 31, 20Y4, Silva reported a net income of $574,000 for the year.<a. Journalize the Ferguson Company entries for the transactions involving its investment in Silva Companyduring 20Y4. If an amount box does not require an entry, leave it blank.20Y4, Jan. 420Y4, July 220Y4, Dec. 31b. Determine the December 31, 20Y4, balance of Investment in Silva Company Stock.

The investment in other business is recorded as assets in the business. The investment value…

Entries for equity investments: 20%-50% ownership On January 4, 20Y4, Ferguson Company purchased 62,500 shares of Silva Company's common stock directly from one of the founders for a price of $37 per share. Silva has 250,000 shares outstanding, including the Daniels shares. On July 2, 20Y4, Silva paid $181,000 in total dividends to its shareholders. Or December 31, 20Y4, Silva reported a net income of $574,000 for the year. a. Journalize the Ferguson Company entries for the transactions involving its investment in Silva Company during 20Y4. If an amount box does not require an entry, leave it blank. 20Y4, Jan. 4 2014, July 2 20Y4, Dec. 31 b. Determine the December 31, 20Y4, balance of Investment in Silva Company Stock.

Entries for equity investments: 20%-50% ownership On January 4, 20Y4, Ferguson Company purchased 62,500 shares of Silva Company's common stock directly from one of the founders for a price of $37 per share. Silva has 250,000 shares outstanding, including the Daniels shares. On July 2, 20Y4, Silva paid $181,000 in total dividends to its shareholders. Or December 31, 20Y4, Silva reported a net income of $574,000 for the year. a. Journalize the Ferguson Company entries for the transactions involving its investment in Silva Company during 20Y4. If an amount box does not require an entry, leave it blank. 20Y4, Jan. 4 2014, July 2 20Y4, Dec. 31 b. Determine the December 31, 20Y4, balance of Investment in Silva Company Stock.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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