Question

On February 15, 2017, Cashman Company purchaed 25,000 shares of the 100,000 outstanding shares of Jenkin's...

On February 15, 2017, Cashman Company purchaed 25,000 shares of the 100,000 outstanding shares of Jenkin's Company stock for $11 per share. On Mar 30, Jenkin's declared dividends of $40,000. On September 30, 2017, Jenkin's declared net income of $100,000. On December 31, 2017, the price of Jenkin's stock increase to $13 per share. On January 16, 2018, Cashman sold all of their shares of Jenkin's company for $12.50 per share.

Required: Record these transactions on a financials statements effects template.

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Answer #1
Date Assets = Liabilities + Equity CFS
Cash Investment Revenue
Feb.15 (2,75,000)     2,75,000 (2,75,000) Investing
Mar.30       40,000       (40,000)       40,000 Investing
Sep.30        25,000      25,000
Dec.31                -                   -  
Jan.16    3,12,500    (2,60,000)      52,500    3,12,500 Investing
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