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san4es73 [151]
3 years ago
5

In developing a measure of "need for cognition" (the degree to which people like thinking and problem-solving), Dr. Jonason asks

his participants to rate their agreement with the following statement: "I frequently solve and enjoy solving crossword puzzles and Sudoku puzzles." What is the problem with this question?
It is a double-barreled question.
Business
1 answer:
matrenka [14]3 years ago
7 0

Answer:

The answer here is that the problem with the question is that the question is a  double-barreled question.

Explanation:

For further clarity on the choice of answer and the question asked. let us talk more on what a double-barreled question is.

A double-barreled question can be refereed to as a a form of trick question that when asked, it usually address more than one issue. However, the answer or reply to such question are expected to be precise and straight forward.

For example, if an individual is being asked a question such as do you still smoke ? If the reply comes as a NO, it means that the responder admits to had been smoking previously however, he has stopped smoking.

Also, if the responder reply is a YES, it means the responder agrees to have always been a smoker and admits to still smoke till date.

So in a way, the response to the double-barreled questions usually dwell in fallacy most of the time.

I hope the explanation helps.

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having a few transit tickets on hand
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3 years ago
LLP Company had the following stockholders’ equity as ofJanuary 1, 2017.
mihalych1998 [28]

Complete Question:

Clemenson LLP Company had the following stockholders’ equity as of January 1, 2017.

Common stock, $1 par value, 120,000 shares issued$120,000

Paid-in capital in excess of par—common stock 833,000

Retained earnings 408,000

Total stockholders’ equity$1,361,000

During 2017, the following transactions occurred.

Feb. 16: LLP repurchased 5,000 shares of treasury stock at a price of $15 per share.

Mar. 8: 2,000 shares of treasury stock repurchased above were reissued at $16 per share.

Apr. 11: 800 shares of treasury stock repurchased above were reissued at $12 per share.

May. 8: 2,000 shares of treasury stock repurchased above were reissued at $18 per share

Instructions:

a. Prepare the journal entries to record the treasury stock transactions in 2017, assuming Clemson uses the cost method.

b. Prepare the stockholders’ equity section as of April 30, 2017. Net income for the first 4 months of 2017 was $130,000.

Answer:

Clemson LLP Company

a. Journal Entries

Feb. 16:

Debit Treasury Stock account $75,000

Credit Cash Account $75,000

To record the repurchase of 5,000 shares of treasury stock at a price of $15 per share.

March 8:

Debit Cash Account $32,000

Credit Treasury Stock account $32,000

To record the resale of 2,000 shares of treasury stock at $16 per share.

April 11:

Debit Cash Account $9,600

Credit Treasury Stock account $9,600

To record the resale of 800 shares of treasury stock at $12 per share.

May 8:

Debit Cash Account $36,000

Credit Treasury Stock account $36,000

To record the resale of 2,000 shares of treasury stock at $18 per share.

b. Stockholders' Equity Section as of April 30, 2017:

Common stock, $1 par value, 120,000 shares issued  $120,000

Treasury Stock, 200 shares                                                 2,600

Paid-in capital in excess of par—common stock             833,000

Retained earnings                                                            538,000

Total stockholders’ equity                                           $1,493,600

Explanation:

a) Data and Calculations:

Stockholders’ equity as of January 1, 2017:

Common stock, $1 par value, 120,000 shares issued  $120,000

Paid-in capital in excess of par—common stock             833,000

Retained earnings                                                            408,000

Total stockholders’ equity                                            $1,361,000

b) Retained Earnings:

Jan. 1, 2017 balance $408,000

Net Income               $130,000

April 30, 2017 bal.    $538,000

c) Since Clemenson accounts for the Treasury Stock transactions using the cost method, it means that all treasury transactions are recorded directly in the Treasury Stock account based on their cost and not the par value.  This method of using the cost is one of the two methods for accounting for treasury stock transactions.  The other method, which Clemenson can use is the par value method.  Under this second method, Clemenson will record the above and below par value differences in the Paid-in Capital in excess of par account instead of the Treasury Stock account.  While the treasury stock account is a contra account to the Common Stock account, in Clemenson's case, the Treasury Stock balance is not a debit but a credit balance.

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Answer:

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