
Concept Introduction:
Requirement-1:
To Give:
Necessary Journal entry.
Concept Introduction:
Journal Entry: It is the original books of entries where company records the business transaction. Every business transaction have 2 effects first is debit and second is credit. Both debit and credit are of equal amount.
Requirement-2:
To Give:
Amount shown on investment in
Concept Introduction:
Journal Entry: It is the original books of entries where company records the business transaction. Every business transaction have 2 effects first is debit and second is credit. Both debit and credit are of equal amount.
Requirement-3:
To Give:
Gains and profit on transaction of long term investment.

Want to see the full answer?
Check out a sample textbook solution
Chapter C Solutions
Financial Accounting: Information for Decisions
- I want to this question answer general accounting questionarrow_forwardHave you ever noted facework or saving face techniques being used in US-based companies (ones you have worked for or encountered in everyday life)? Explain and offer examples in your initial posting.arrow_forwardNeed correct answer general accountingarrow_forward
- Intermediate Accounting: Reporting And AnalysisAccountingISBN:9781337788281Author:James M. Wahlen, Jefferson P. Jones, Donald PagachPublisher:Cengage LearningFinancial AccountingAccountingISBN:9781337272124Author:Carl Warren, James M. Reeve, Jonathan DuchacPublisher:Cengage LearningPrinciples of Accounting Volume 1AccountingISBN:9781947172685Author:OpenStaxPublisher:OpenStax College

