1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
liberstina [14]
3 years ago
6

In 2019, Winn, Inc. issued $1 par common stock for $35 per share. No other common stock transactions occurred until July 31, 202

1, when Winn acquired some of the issued shares for $30 per share and retired them. Which of the following statements correctly states an effect of this acquisition and retirement?
a. 2021 net income is decreased.
b. Additional paid-in capital is decreased.
c. 2021 net income is increased.
d. Retained earnings is increased.
Business
1 answer:
Vadim26 [7]3 years ago
7 0

Answer:

b. <em> </em>Additional paid-in capital is decreased

Explanation:

The entry to record acquisition and retirement is:

                                                                 Debit          Credit

Common stock                                           $1  

Paid-in capital—excess of par                  $34  

   <em> Paid-in capital—share repurchase                        $5</em>

    Cash                                                                  $30

<em>Conclusion: </em>Additional paid-in capital is decreased.  

You might be interested in
All of the following are organization-directed benefits associated with offering unconditional guarantees except: a. the guarant
kotykmax [81]

Answer:

All of the following are organization-directed benefits associated with offering unconditional guarantees except:

a. the guarantee provides a means to avoid bankruptcy.

Explanation:

Providing or offering customers unconditional guarantees does not help the company to avoid bankruptcy.  Bankruptcy arises from inadequate financing resulting from overtrading.  Importantly, offering guarantees to customers communicates a clear performance goal to employees to improve service delivery to customers.

3 0
3 years ago
john a supervisor at the local factory revicea freuesnt requests from workers on how to fix the machine they use what shoud, joh
faust18 [17]
The answer is John should continue to fix the machine himself.
3 0
2 years ago
20 points easy?………………………
natita [175]

Answer:

Legal damages

Explanation:

yes 20 points easy

3 0
1 year ago
In preparing a statement of cash flows using the indirect​method, the Depreciation Expense​ ________
motikmotik

Answer:B -

Explanation:Depreciation is added back as an adjustment to the net income in the operating activities section.

8 0
3 years ago
Read 2 more answers
What was the major financial change between post ww2 borrowers and borrowers after 1970.
Mama L [17]

The major financial change between post ww2 borrowers and borrowers after 1970 was that there were plenty of jobs after World War 2 and the economy was growing at a large extent.

Most of the people believed that their income would not change even though there were plenty of jobs in the economy.

However they all have a constant income from the year 1945 to 1970.

So all the people continued  to borrow more and more money by not attending or joining any post war job in the economy.

Banks were also willing to lend more and more money as they were on the way of high earning through more lending but they get closed.

So after the war people continued to increase their loans and debt ratio in the economy of lending due to which it became the period of great depression.

To know more about post war borrowing here:

brainly.com/question/2675965

#SPJ4

4 0
1 year ago
Other questions:
  • Workers typically get dirty if they work at a job site for
    10·2 answers
  • Given the following information from Power Enterprises’ direct materials budget, how much direct materials needs to be purchased
    14·1 answer
  • Which type of critic expresses thoughts with precision, clarity, and grace, through the careful building up of ideas, a presenta
    8·1 answer
  • Mitchell Corporation pays $10 million to acquire a 30 percent interest in Turner Corporation’s stock on January 1, 2020, and rep
    5·1 answer
  • Cost of a Fixed Asset Borges Inc. recently purchased land to use for the construction of its new manufacturing facility and incu
    9·1 answer
  • The slope of the security market line represents the:__________a) risk premium on an individual asset. b) beta coefficient. c) r
    5·1 answer
  • Cartwright Brothers preferred stock has an annual dividend of $3.50 per share if the required rate of return on the preferred st
    14·1 answer
  • Selected financial data regarding current assets and current liabilities for Queen’s Line, a competitor in the cruise line indus
    8·1 answer
  • 3 true statements about recording journal entries in Quickbooks
    9·1 answer
  • the aarp (american association of retired persons) pays to run an advertisement on certain television stations about protecting
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!