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vlabodo [156]
3 years ago
12

Marina, Inc., acquires 1 million shares of its own $1 par value common stock at $70 per share. It later resells the 1 million sh

ares of treasury stock for $75. We record the $5 difference per share as a:a. gain in the income statement,b. revenue in the income statement,c. credit to Additional Paid-in Capital,d. credit to Common Stock.
Business
1 answer:
Archy [21]3 years ago
3 0

Answer:

c. credit to Additional Paid-in Capital

Explanation:

The journal entry to record the difference is shown below:

Cash A/c Dr $75 million

      To Treasury stock A/c $70 million    (1 million shares × $70 per share)

      To Additional paid in capital - in excess of par $5 million

(Being the issuance of treasury stocks is reported and the amount remaining is credited to the additional paid-in capital account)

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Answer:

The right choice is Option c (110.0%).

Explanation:

⇒ Effective \ rate \ of \ protection = tariff \ rate \ on \ imported \ finished \ good + price \ of \ Component\times  \frac{(tariff \ on \ imported \ good- tariff \ on \ imported \ component)}{(Price \ of \ finished \ good - Price \ of \ components)}

On estimating the values, we get

⇒                                   = 30 \ percent + (80 \ percent\times 500)\times \frac{(30 \ percent - 10 \ percent)}{500-80 \ percent\times 500}

⇒                                   = 110 \ percent

Note: percent = %

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Explanation:

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TRUE

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