Record each of the following transactions and events of Hertz Note: Round to nearest whole dollar. Year 1 January 1 Acquired 75,000 shares of Thrifty common stock for $481,000 cash. Thrifty has 300,000 shares of common stock outstanding, and its activities will be significantly influenced by Hertz. August 31 Thrifty declared and paid a cash dividend of $2.28 per share. December 31 Thrifty reported net income for the year of $497,400. Year 2 August 31 Thrifty declared and paid a cash dividend of $.70 per share. December 31 Thrifty reported net incone for the year of $717,900. December 31 Hertz sold 13,000 shares of Thrifty for $100,000 cash.
Record each of the following transactions and events of Hertz Note: Round to nearest whole dollar. Year 1 January 1 Acquired 75,000 shares of Thrifty common stock for $481,000 cash. Thrifty has 300,000 shares of common stock outstanding, and its activities will be significantly influenced by Hertz. August 31 Thrifty declared and paid a cash dividend of $2.28 per share. December 31 Thrifty reported net income for the year of $497,400. Year 2 August 31 Thrifty declared and paid a cash dividend of $.70 per share. December 31 Thrifty reported net incone for the year of $717,900. December 31 Hertz sold 13,000 shares of Thrifty for $100,000 cash.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:Record each of the following transactions and events of Hertz
Note: Round to nearest whole dollar.
Year 1
January 1 Acquired 75,000 shares of Thrifty common stock for $481,000 cash. Thrifty has 300,000 shares of common stock
outstanding, and its activities will be significantly influenced by Hertz.
August 31 Thrifty declared and paid a cash dividend of $2.28 per share.
December 31 Thrifty reported net income for the year of $497,400.
Year 2
August 31 Thrifty declared and paid a cash dividend of $.70 per share.
December 31 Thrifty reported net incone for the year of $717,900.
December 31 Hertz sold 13,000 shares of Thrifty for $100,000 cash.
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