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According to Newlin Corporation's shareholders' equity section as of January 1, 2020, common stock ($5 par value) was paid-in at $1,500,000.
$1,000,000 in excess of par capital and $1,200,000 in retained profits The following Treasury stock transactions occurred throughout the year.
occurred.
1 March: Paid cash for 50,000 shares at a price of $15 each.
On July 1st, 10,000 Treasury shares were sold for cash for $17 each.
1st of September: Cash sale of 8,000 Treasury shares at a price of $14 each.
Journal entry for treasury stock transactions is shown below: [See below in attachment]
2. The entry for September 1, assuming the treasury shares were sold at $12 per share is shown below: [See below in attachment]
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Assume the market basket for the consumer price index has two products meat and potatoes, the Consumer Price Index for 2016 equals option c. 129.
<h3>What is meant by the term of consumer Price Index?</h3>The consumer price index (CPI) is known to be a term that connote the instrument that is often used in the measurement of inflation.
It is said to be one that is often used so that one can be able to estimate the average variation that tend to exist between two given periods in the prices of products which are known to be consumed by households.
Therefore, based on the image attached, Assume the market basket for the consumer price index has two products meat and potatoes, the Consumer Price Index for 2016 equals option c. 129.
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