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WINSTONCH [101]
3 years ago
14

On December 2, Coley Corp. reacquired 1,400 shares of its $4 par value common stock for $20 each. On December 20, Coley Corp. re

issued 1,000 shares for $11 each. Which of the following is correct regarding the journal entry for the reissued shares?
Credit Additional Paid-in Capital $7,000

Credit Treasury Stock $20,000

Debit Cash $15,400

Credit Treasury Stock $11,000
Business
1 answer:
NISA [10]3 years ago
8 0

Answer:

Credit Treasury Stock $20,000

Explanation:

Treasury shares are those share which is bought back by the company. Treasury stock account is the contra equity account which is deducted from the equity value.

Journal Entry for Re-issuance of treasury stock

Dr.     Cash ( 1,000 x $11 )                    $11,000

Dr.     Add-in capital Treasury stock   $9,000

Cr.    Treasury Stock ( 1,000 x $20 )   $20,000

Due to debit nature of treasury stock it is credit to reduce the balance of treasury stock.

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Lito works for a business that is part of a large corporation with many diverse business lines that operate autonomously. Lito’s
irinina [24]

Answer: Conglomerate structure

                           

Explanation: In simple words, conglomerate structure refers to the structure under which many entities operate in different industries under a single corporation. In other words, it is a different name for parent subsidiary relationship.

In the given case, Lito group owns different firms in different industries. Hence from the above we can conclude that the group uses conglomerate structure.

4 0
3 years ago
Nour's organization buys raw materials from all over the world, and in turn, sells finished goods world-wide. What type of organ
Alja [10]

There are a lot of firms. Organizational buyers is the type of organization that Nour run.

<h3>What is Organizational buyers?</h3>

Organizational buyers are known to be people or firm that often buy direct from the manufacturers of products  as at the time when the products are complex and said to be expensive pieces of equipment that needs custom design and installation.

Note that the organizational buyer often purchases in a lot of large volumes of goods to sell to others.

Learn more about Organizational buyers from

brainly.com/question/536509

4 0
2 years ago
An example of an externality is the impact of
stepan [7]
Increases in health care costs on the health of individuals in society.
8 0
2 years ago
Suppose a nation experienced an increase in the level of unemployment. What would be the effect on the nation's production possi
shusha [124]

Answer:

a. The curve would not shift, the change in unemployment would be represented by moving from a point inside the curve toward the curve

Explanation:

Options are : <em>"a. The curve would not shift, the change in unemployment would be represented by moving from a point inside the curve toward the curve, b. The curve would shift to the left, c. The curve would not shift, the change in unemployment would be represented by moving from a point on the curve to a point outside the curve. d. The curve would shift to the right."</em>

Reduction in unemployment means that the resources are being well utilized , the ideal resources in the economy is being used , so the economy moves from an inefficient point to an efficient one. The change in unemployment will be represented by moving from a point from a point to a curve inside the point. So the nation's production possibilities curve would not shift

5 0
2 years ago
On July 1 the Skysong, Inc. paid $19680 to Acme Realty for 6 months rent beginning July 1. Prepaid Rent was debited for the full
Ghella [55]

Answer:

The adjusting entry is as follows;

July 31

Rent Expense                                               Debit        $ 3,280

Prepaid Rent                                                 Credit                       $ 3,280

To record rent expense for the month of July

Explanation:

Prepaid rent payment                                                           $ 19,680

Period of payment                                                                 6 months

Period of benefit                                                                   1 month

Rent expense for 1 month I.e July is computed as

$ 19,680/6 months * 1 month                                                  $ 3,280

3 0
3 years ago
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