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Pina, Inc. obtained significant influence over Seles Corporation by buying  30% of Seles’s  29,700 outstanding shares of common stock at a total cost of $ 10 per share on January 1, 2020. On June 15, Seles declared and paid cash dividends of $ 33,000 to all stockholders. On December 31, Seles reported a net income of $ 79,200 for the year. Prepare all necessary journal entries in 2020 for both situations. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)   i cant figure out the Account Titles and Explanation

Pina, Inc. obtained significant influence over Seles Corporation by buying  30% of Seles’s  29,700 outstanding shares of common stock at a total cost of $ 10 per share on January 1, 2020. On June 15, Seles declared and paid cash dividends of $ 33,000 to all stockholders. On December 31, Seles reported a net income of $ 79,200 for the year. Prepare all necessary journal entries in 2020 for both situations. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)   i cant figure out the Account Titles and Explanation

FINANCIAL ACCOUNTING
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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Pina, Inc. obtained significant influence over Seles Corporation by buying  30% of Seles’s  29,700 outstanding shares of common stock at a total cost of $ 10 per share on January 1, 2020. On June 15, Seles declared and paid cash dividends of $ 33,000 to all stockholders. On December 31, Seles reported a net income of $ 79,200 for the year.

Prepare all necessary journal entries in 2020 for both situations. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

 

i cant figure out the Account Titles and Explanation

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