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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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3 years ago
Consumer​ surplus:
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4 years ago
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7 0
3 years ago
The management at Mova Autos Inc. has realized that the company's sales have started to decline due to increasing competition. T
V125BC [204]

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Implementation of Idea (DO)

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