Condition #:
O'Brien Inc. acquired of the shares of common stock of Fletcher Air at a total cost of $ per share on February On July Fletcher Air declared and paid $ cash dividends to all stockholders. On December Fletcher Air reported net income of $ for the year. At December the market price of Fletcher Air was $ per share.
Condition # :
Johnson Corporation obtained significant influence over Roybark Inc. by buying of Roybark's outstanding shares of common stock at a total cost of $ per share on January On May Roybark Inc. declared and paid cash dividends of $ to all stockholders. On December Roybark Inc. reported a net income of $ for the year.
Required: Prepare all necessary journal entries in for Condition # If No Entry" is needed, please indicate No Entry". Round all values to the nearest dollar.
Required: Prepare all necessary journal entries in for Condition # If No Entry" is needed, please indicate No Entry".
tableReference:Account Title:,Debit:,Credit:type your answer...,type your answer...,type your answer...type your answer...,type your answer...,type your answer...
