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On April 1, 2024, Garden Company invests $12,000 in Bulbs, Inc. stock. Bulbs pays Garden a $700 dividend on October 1, 2
Posted: Sun Jul 03, 2022 3:49 pm
by answerhappygod
- On April 1 2024 Garden Company Invests 12 000 In Bulbs Inc Stock Bulbs Pays Garden A 700 Dividend On October 1 2 1 (37.37 KiB) Viewed 16 times
On April 1, 2024, Garden
Company invests $12,000 in Bulbs, Inc. stock. Bulbs pays Garden a $700 dividend on October 1, 2024. Garden sells the Bulbs' stock on October 31, 2024, for $12,600. Assume the investment is categorized as a short-term equity investment and Garden
Company does not have significant influence over Bulbs, Inc. Read the requirements. Requirement 1. Joumalize the transactions for Garden's investment in Bulbs' stock. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Begin by journalizing Garden's initial investment in Bulbs, Inc., stock. Date Accounts and Explanation Apr. 1 Next, journalize Garden's receipt of the October 1 dividend. Debit Credit