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WINSTONCH [101]
4 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]4 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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Answer:

. No, he has not proven he is financially responsible with money previously borrowed.

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There are 72,922 seats in Lambeau Field where the Green Bay Packers play football. The Packers have sold out their season ticket
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Answer: quantity demanded of Packers tickets decreased.

Explanation:

First and foremost, we should note that normal goods are the goods that when the income of an individual rises, the individual will buy more and in a case whereby the income reduces, the person will buy less.

Therefore, during recession when people's incomes decreased, the quantity demanded of Packers tickets decreased as well

7 0
3 years ago
While _______ decisions will generally need to be processed via the ______ system in our brains in order for us to reach a good
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Answer:

Nonprogrammed; reflective; programmed; reactive

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decisions quickly. It should be noted that While non programmed decisions will generally need to be processed via the reflective system in our brains in order for us to reach a good decision, with programmed decisions, heuristics can allow decision-makers to switch to the quick, reactive system.

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Suppose farmers in a given market can either grow soy beans or corn on their land. In addition, suppose an increase in the deman
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switch away from growing soy beans and growing corn

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