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Kipish [7]
3 years ago
9

Refer to the following information for Tolan​ Corporation: bullet Common​ Stock, $1.00​ par, 106,000 shares​ issued, 100,000 sha

res outstanding bullet ​Paid-In Capital in Excess of Parlong dash​Common: ​$2,190,000 bullet Retained​ Earnings: $920,000 bullet Treasury​ Stock: 6,000 shares purchased at​ $21 per share If Tolan resold​ 2,500 shares of treasury stock for​ $22.50 per​ share, which of the following statements would be​ true?
A

The Treasury Stock account would decrease by​ $52,500.

B.

The Retained Earnings account would increase by​ $56,250.

C.The​ Paid-In Capital in Excess of

Parlong dash—Common

account would increase by​ $2,500.

D.

The Treasury Stock account would decrease by​ $26,250.
Business
1 answer:
ra1l [238]3 years ago
8 0

Answer:

Option (A) is correct.

Explanation:

Journal entry at time of selling treasury stock :

Cash A/c                     Dr.  $56,250

To  Treasury stock                               $52,500    

To  Paid in capital in excess of par     $3,750

Workings:

cash = 2,500 × 22.5

        = $56,250

Treasury stock = 2,500 × $21

                         = $52,500  

Paid in capital in excess of par = 2,500 × $1.5

                                                   = $3,750

Therefore, this will conclude that

Treasury stock will decrease by $52,500.

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Answer:

The correct answer is: Adjouring.

Explanation:

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To continue, the last of the stages, the adjouring stage, involves the situation where the team have already accomplished its ultimate goal and must now split in order to every member to be reassigned to other teams and new tasks.

To sum up, <u>Alfred, Mario and Lydia are in the adjouring stage of team development</u> due to the fact that they had already been together for so long and must go on in another teams with another goals.  

6 0
3 years ago
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Answer:

uhh The president will stay the same

Explanation:

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3 years ago
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The following information relating to a company's overhead costs is available. Col1 = Actual total variable overhead, Actual tot
Free_Kalibri [48]

Answer:

A) $2,000 favorable

Explanation:

Actual total variable overhead = $ 73,000

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5 0
3 years ago
Parrot received land as a gift with a fair market value of $5,000. The land was purchased by the donor for $8,000. The land is s
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Answer:

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Explanation:

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• The fair market value: $5,000  

• The sold amount: $6,000

Parrot’s basis in the land is $8,000, as same basis the donor had.  

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3 years ago
In the Month of March, Chester Corporation received orders of 154 units at a price of $15.00 for their product Clack. Chester us
julsineya [31]

Answer:

March revenue:

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April revenue

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We recognize based on the delivery of the goods which is the point at which the trasnfer of ownership occurs. Once the good are delvierired; the customer is the owner of them and can use them as see fit, is responsabile for their condition and wellbeing.

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