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nikklg [1K]
3 years ago
6

Vaughn Manufacturing started business in 2012 by issuing 209000 shares of $21 par common stock for $28 each. In 2017, 25500 of t

hese shares were purchased for $40 per share by Vaughn Manufacturing and held as treasury stock. On June 15, 2018, these 25500 shares were exchanged for a piece of property that had an assessed value of $753000. Vaughn’s stock is actively traded and had a market price of $46 on June 15, 2018. The cost method is used to account for treasury stock. The amount of paid-in capital from treasury stock transactions resulting from the above events would beA. $153000.B. $743000.C. $453000.D. $218000.
Business
1 answer:
marshall27 [118]3 years ago
6 0

Answer:

A. $153,000

Explanation:

The Journal Entry is shown below:-

Property Dr,                                          $1,173,000

          To Treasure stock                     $1,020,000

           To additional paid-in-capital    $153,000

The computation is given below:-

For Property

= 25,500 × $46

= $1,173,000

For Treasure stock

= 25,500 × $40

= $1,020,000

For Additional paid-in-capital

= $1,173,000 - $1,020,000

= $153,000

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Answer:

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Explanation:

from the question;

check per day; 20000

delay: 3 days

checks to pay suppliers; 17000

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with these two values we can get the net float

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