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Travka [436]
3 years ago
7

In 20X4, Seda Corp. acquired 6,000 shares of its $1 par value common stock at $36 per share. During 20X5, Seda issued 3,000 of t

hese shares at $50 per share. Seda uses the cost method to account for its treasury stock transactions.What accounts and amounts should Seda credit in 20X5 to record the issuance of the 3,000 shares?
Business
1 answer:
Elena-2011 [213]3 years ago
6 0

Answer:

Treasury stock is $108,000

Additional paid-in capital is $42,000

Explanation:

In the cost method, when the treasury stock which is re-issued at the price that is in excess or more of its cost, then the additional or extra paid- in capital from the treasury stock is credited against the difference.

The journal entry which is to be recorded as:

Cash A/c..................................Dr $150,000

     Treasury stock A/c........................... Cr $ 108,000

     Additional paid-in capital A/c.........Cr $42,000

Working Note:

Additional paid-in capital from transactions of treasury stock = (3,000 × $50) - (3,000 × $36)

= $150,000 - $108,000

= $42,000

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Explanation:

As a general rule of thumb, every expenses that incurred for business operation can be deducted from your taxes.  This rule can still applicable even if you're working from your home.

A car mileage <u>can only be deducted according to the proportion that is used for work</u><u> </u> since it's considered as an expense that must incurred in order for Gwen to do her business.

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Explanation:

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2 years ago
Compute the Cost of Goods Manufactured and Cost of Goods Sold for Strike Marine Company for the most recent year using the amoun
Alecsey [184]

Answer:

Instructions are below.

Explanation:

<u>First, we need to calculate the direct material used and the manufacturing overhead:</u>

Direct material used= beginning inventory + purchases - ending inventory

Direct material used= 22,000 + 74,000 - 34,000

Direct material used= $62,000

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Insurance on plant $9,500

Depreciation-plant building and equipment 12,600

Repairs and maintenance-plant 3,900

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Total overhead= $68,000

<u>Now, we can determine the cost of goods manufactured:</u>

cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP

cost of goods manufactured= 41,000 + 62,000 + 88,000 + 68,000 - 27,000

cost of goods manufactured= 232,000

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COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory

COGS= 13,000 + 232,000 - 21,000

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at the marriage of her daughter, lorna is given papers to sign, which the catering company says are the invoices for the food, s
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This invoice is given to consumers after formally asking for the planner's knowledge regarding wedding ceremony preparation.

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<h3>Does invoice suggest paid?</h3>

An bill is a demand for price (delivered both electronically or physically) that is sent with the aid of the vendor after the sale of goods/services has been completed, however earlier than price has been made. In essence, invoices are used to make certain that your business receives paid.

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7 0
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faltersainse [42]

Answer: 22; 7

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Of those,<u> 7 have occurred since 1970</u> with the 7th ongoing as a result of the Corona virus pandemic.

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3 years ago
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