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
Tju [1.3M]
3 years ago
9

A corporation sold 1,000 shares of its $2.00 par value common stock for $10.00 per share and later repurchased 100 of those shar

es for $12.00 per share. Which of the following will be debited to record the repurchase of the 100 shares?A.Common Stock for $1,200B.Treasury Stock for $1,200C.Treasury Stock for $200D.Cash for $1,200
Business
1 answer:
boyakko [2]3 years ago
5 0

Answer:

Option B. Treasury Stock for $1,200

Explanation:

The reason is that when 1,000 shares which has $2 par value and were issued at $10 per share, the journal entry was:

Dr Cash Account $10,000

Cr       Common Stock $2,000

Cr       Paid In Capital   $8,000

But when 100 shares were repurchased at $12 per share, then the accounting treatment would be

Dr Treasury Stock $1,200

Cr         Cash Account $1,200

So the correct option is option B.

You might be interested in
True or false genres or categories of repertory, do not necessarily transfer from one society to the next though they may be sim
vodka [1.7K]

Answer:

True

Explanation:

Considering the style and function of music in society, researchers have found out that music is used for different specific purposes, in every different society as well.

In other word, there is specific music for specific events, hence, it is TRUE that "genres or categories of repertory, do not necessarily transfer from one society to the next, though they may be similar."

7 0
3 years ago
According to low estimates, we see advertisements every _____ minutes.
QveST [7]

Answer:

4

Explanation:

Its every 4 mins we see ads

8 0
3 years ago
Suppose that over one range of​ prices, the absolute value of the price elasticity of demand varies from 15.0 to​ 2.5, and over
Vera_Pavlovna [14]

Answer:

In the first range of prices (with PED 15 - 2.5) as the price of the good or service falls, total revenue should increase. Imagine that a 1% reduction in price will result in a 15% increase in quantity demanded. The same happens when PED = 2.5, since a 1% reduction will increase quantity demanded by 2.5%.

e.g. price = $100, quantity demanded = 100, total revenue = $10,000

  • price falls to $99, quantity demanded increases to 115, total revenue = $11,385
  • price falls to $99, quantity demanded increases to 102.5, total revenue = $10,147.50

On the other range (PED = 1.5 - 0.75) as the price of the good or service falls, at first total revenue will increase but then it will decrease.

e.g. price = $100, quantity demanded = 100, total revenue = $10,000

  • price falls to $99, quantity demanded increases to 101.5, total revenue = $10,048.50
  • price falls to $99, quantity demanded increases to 100.75, total revenue = $9,974.25
5 0
3 years ago
The Cash account of Gate City Security Systems reported a balance of 2400 at December 31​, 2018. There were outstanding checks t
olasank [31]

Answer:

Explanation:

gate City bank reconciliation statement as at December 31, 2018

Balance as per cash book                                 2400            

Direct payment to the bank (loan)        520            

Less bank charges                                   (30)                      

Add bank interest                                      20

Adjustment                                                              510

Adjusted cash book balance                                  2910

Balance as per bank statement                            3,810

Less outstanding check                            (1300)

Add deposit in transit                                   400

Adjustment                                                               (900)

Adjusted bank statement balance                          2,910    

8 0
3 years ago
In China, state control of media is high, so companies are challenged to find ways to get their message to customers. This demon
Ivanshal [37]

This demonstrates a difficulty in crafting a global communication strategy.

The question says that the nation of China is very much controlling the media in the country. This has made it difficult for businesses to communicate with their users.

This here tells us about the issue of communication. The companies may have issues sending message across to all of its customers due to the media problem.

This problem may be more difficult in a case where the business is a foreign market.

Read more on brainly.com/question/15696678?referrer=searchResults

3 0
2 years ago
Other questions:
  • Porite Company recognizes revenue in the period in which it records an asset for the related accounts receivable, rather than in
    14·1 answer
  • When discussing influence tactics with your managers, you should tell them that: the best managers use soft tactics, such as mak
    15·2 answers
  • Market Enterprises would like to issue $1,000 bonds and needs to determine the approximate rate it would need to pay investors.
    7·1 answer
  • From 1980 to 1989, total consumption of fish in the country of Jurania increased by 4.5 percent, and total consumption of poultr
    10·1 answer
  • Anthony is deciding between different savings accounts at his bank. He has four options, based on how frequently interest compou
    5·1 answer
  • 'Modigliani Manufacturing has a target debt-equity ratio of .50. Its cost of equity is 18 percent and its cost of debt is 11 per
    9·1 answer
  • All of the following are considered effective cash management principles except: Multiple Choice Encouraging collection of recei
    11·1 answer
  • To attend a selective college, how many years of high school math must you complete? A. 2 B. 6 C. 3 D5​
    11·2 answers
  • Ellie Inc., a calendar year C corporation, wants to make a gift to a charity that is deductible on its year 1 Form 1120. The gif
    8·1 answer
  • A possible cause of favourable material price is
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!