Based on the total number of shares in circulation, we can infer that the number of shares issued was<u> 150 shares. </u>
The shares issued are those that the company sold to the public out of those that were authorized to them.
To find the issued shares, use the formula:
<em>= Shares outstanding + Treasury shares </em>
= 100 + 50
= 150 shares
In conclusion, 150 shares were issued.
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Answer:
The amounts to be recorded for the building and for Forman's Capital account are $80,000 and $60,000 respectively
Explanation:
According to the accounting principles, the fixed assets should be recorded at cost or market value whichever is lower
So, in the question, it is mentioned that the building has a market value of $80,000 so by $80,000 the building is recorded.
And, for the Forman's Capital account, the $60,000 should be recorded because we have to deduct the $20,000 building mortgage from the market value of the building so that the accurate value can be come.
Answer:
A) $200,000 to Jack
Explanation:
Jack is the primary beneficiary to his late wife's life insurance policy and since he is still alive, so he should get the whole $200,000.
His daughters, Mimi and Ann, are the contingent beneficiaries. That means that in case Jack had died before his wife or he was incapacitated for some reason, then they would have become the beneficiaries of the insurance policy (and each would have received $100,000).
If his employer is a state or local government. In this circumstance,
Bernie can case an action in contrast to his employer under the Fourth
Amendment if his employer is a state or local government. Normally, employment
actions by private employers do not activate legal protections because the
Constitution is intended to control government extremes. The term used is State
action, which comprises arrangements by both state and federal governments. If
no State action is involved, no constitutional protections are activated.
Answer:
Debit Treasury stock for $3,600
Credit Cash also for $3,600
Explanation:
A share repurchase which is also known as a share buyback refers to an act of buying back by a company of its own shares from the market.
A share repurchase is another flexible way thrrough which a company returns money back to shareholders.
The repurchase of California Surf Clothing Company can be recorded as follows:
<u>Account Name Dr ($) Cr ($) </u>
Treasury stock (w.1) 3,600
Cash 3,600
<em><u>(To record 100 shares repurchase at $36 per share.) </u></em>
Working
w.1: Treasury stock = Number of shares repurchase * Cost per share = 100 * $36 = $3,600
