Entries for equity investments: 20%–50% ownership On January 4, 20Y4, Ferguson Company purchased 100,000 shares of Silva Company's common stock directly from one of the founders for a price of $51 per share. Silva has 400,000 shares outstanding, including the Daniels shares. On July 2, 20Y4, Silva paid $270,000 in total dividends to its shareholders. On December 31, 20Y4, Silva reported a net income of $934,000 for the year. Question Content Area 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 - Select - - Select - - Select - - Select - 20Y4, July 2 - Select - - Select - - Select - - Select - 20Y4, Dec. 31 - Select - - Select - - Select - - Select - Question Content Area b. Determine the December 31, 20Y4, balance of Investment in Silva Company Stock. $fill in the blank aab5e3ff9feb036_1
Entries for equity investments: 20%–50% ownership On January 4, 20Y4, Ferguson Company purchased 100,000 shares of Silva Company's common stock directly from one of the founders for a price of $51 per share. Silva has 400,000 shares outstanding, including the Daniels shares. On July 2, 20Y4, Silva paid $270,000 in total dividends to its shareholders. On December 31, 20Y4, Silva reported a net income of $934,000 for the year. Question Content Area 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 - Select - - Select - - Select - - Select - 20Y4, July 2 - Select - - Select - - Select - - Select - 20Y4, Dec. 31 - Select - - Select - - Select - - Select - Question Content Area b. Determine the December 31, 20Y4, balance of Investment in Silva Company Stock. $fill in the blank aab5e3ff9feb036_1
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Entries for equity investments: 20%–50% ownership
On January 4, 20Y4, Ferguson Company purchased 100,000 shares of Silva Company's common stock directly from one of the founders for a price of $51 per share. Silva has 400,000 shares outstanding, including the Daniels shares. On July 2, 20Y4, Silva paid $270,000 in total dividends to its shareholders. On December 31, 20Y4, Silva reported a net income of $934,000 for the year.
Question Content Area
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 |
|
- Select - | - Select - |
|
|
- Select - | - Select - | |
| 20Y4, July 2 |
|
- Select - | - Select - |
|
|
- Select - | - Select - | |
| 20Y4, Dec. 31 |
|
- Select - | - Select - |
|
|
- Select - | - Select - |
Question Content Area
b. Determine the December 31, 20Y4, balance of Investment in Silva Company Stock.
$fill in the blank aab5e3ff9feb036_1
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