Prepare journal entries to record the following transactions involving the short-term stock investments of Duke Co., all of which occurred during the current year. a. On March 22, purchased 820 shares of RPI Company stock at $25 per share. Duke's stock Investment results in it having an insignificant influence over RPI. b. On July 1, received a $2 per share cash dividend on the RPI stock purchased in part a. c. On October 8, sold 410 shares of RPI stock for $35 per share. View transaction list Journal entry worksheet On March 22, purchased 820 shares of RPI Company stock at $25 per share. Duke's stock investment results in it having an insignificant influence over RPI Note: Enter debits before credits Transaction General Journal Debit Credit View general journal Record entry Clear entry
Audit Reports
Comp r ehensive Material Series Audit R eports 1) Explain why auditors’ reports are important to users of financial statements and why it is desirable to have standard wording. : Auditor's r eports a r e important to users of financial statements because they info r m users of the auditor's opinion as to whether or not the statements a r e fairly stated or whether no conclusion can be made with r ega r d to the fai r ness of their p r esentation . User s especiall y loo k fo r an y deviatio n f r o m th e wo r din g o f the standa r d unqualified r eport and the r easons and implications of such deviations. Having standa r d wo r ding imp r oves communications for the benefit of users of the auditor’s r eport. When the r e a r e departu r es f r om the standa r d wo r ding, users a r e mo r e li k e...
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