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asambeis [7]
3 years ago
9

Saddleback manufacturing ltd. purchased 5,000 shares of its own previously issued $10 value common stock for $95,000. Thes 5,000

would be considered
Business
1 answer:
kramer3 years ago
7 0

Answer:

The Purchased 5,000 shares at $95,000 would be considered as <u>Treasury stock</u> and it will be treated as <u>Asset</u>

Explanation:

Journal Entry                 Debit        Credit

Treasury stock           $95,000

Cash                                              $95,000

The 5,000 shares should be considered as authorized , issued and outstanding shares although they are deducted from paid in capital under stockholders equity section.

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If the exchange rate between the dollar and the Swiss franc changes from 1.8 to 1.5 francs per dollar, the franc depreciates and
bazaltina [42]

Answer:

False

Explanation:

Exchange rate helps to determine the value of money in the foreign currency. If the exchange rate changes from 1.8 to 1.5 francs per dollar it means that the franc per dollar appreciates, and the dollar depreciates. Now, more dollars can be bought by trading Swiss franc compared to the previous rate. A decrease in exchange rate decreases the value of the dollar compared to the Swiss franc.

6 0
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ivanzaharov [21]

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8 0
3 years ago
A partial listing of costs incurred during March at Febbo Corporation appears below: Factory supplies $ 9,000 Administrative wag
Anika [276]

Answer:

$ 68,000

Explanation:

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