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oee [108]
3 years ago
8

Treasury stock that had been purchased for $4,566 last month was reissued this month for $5,184. What would the journal entry to

record the reissuance include?a. Credit to Treasury Stock for $618b. Credit to Treasury Stock for $4,566c. Credit to Excess of Par/Common for $618d. Debit to Treasury Stock for $4,566
Business
1 answer:
miss Akunina [59]3 years ago
7 0

Answer:

The answer can include both C and D. Description below.

Explanation:

We make the following records.

The treasury stock was reissued at a premium of 5184 - 4556 = $628

Since treasury stock is  credit account by nature we debit  to reduce it by the Amount of $4,566

$628 is to be credited to the paid in capital as this is premium received in excess of par value of the stock. Since there is no mention of premium or paid in capital account we may credit the Excess of Par/Common.

Hope that helps.

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Suppose the required reserve ratio is 20 percent, and the Fed buys $1 million worth of bonds from the public. If the public depo
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Answer:

Increase directly by $1 million and an additional lending capacity of $4 million will be created for the banking system.

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Now, we have, required reserve ratio of 20%.

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3 years ago
Mary Co. paid dividends of $5,000, $6,200, and $8,000 during Year 1, Year 2, and Year 3, respectively. The company had 1,700 sha
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Answer :

Amount of dividend paid =$1,350

Explanation :

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As per the data given in the question,

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Preferred dividend     $5,000         $6,200                $6,650

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