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
enyata [817]
3 years ago
10

25,000 shares reacquired by Elixir Corporation for $53 per share were exchanged for undeveloped land that has an appraised value

of $1,700,000. At the time of the exchange, the common stock was trading at $62 per share on an organized exchange. Prepare the journal entry to record the acquisition of land assuming that the purchase of the stock was originally recorded using the cost method. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required\ select "No Entry" for the account titles and enter 0 for the amounts.)
Business
1 answer:
Olegator [25]3 years ago
7 0

Answer:

XX date. Acquisition of land in exchange for treasury stock.

Dr Land $1,550,000

    Cr Treasury Stock $1,325,000

    Cr Paid in Capital $225,000

Explanation:

Since the corporation uses the cost method, the transaction is recorded at purchase value regardless of current stock price.

treasury stock = 25,000 x $53 = $1,325,000

paid in capital = ($62 - $53) x 25,000 = $225,000

cost of the land = $1,325,000 + $225,000 = $1,550,000

You might be interested in
Johnson and Johnson targeted the adult market with its baby powder and shampoo. In _____, Johnson and Johnson increased the cons
andrey2020 [161]

In <u>modifying the market</u>, Johnson and Johnson increased the consumption of the current product.

<h3>What is market modification?</h3>

Market mofification can be defined as the way in the a manufaturer  target the market so as to attract potentials customers.

Most producer tend to make use of  market modication as a marketing strategy so as to have more advantage over other competitors by reaching their competitors  customers and to as well increase sales.

Therefore in <u>modifying the market</u>, Johnson and Johnson increased the consumption of the current product.

Learn more about market modification here:brainly.com/question/27093440

#SPJ1

5 0
2 years ago
How often should you typically monitor your checking account?
Rasek [7]
Every month or so but I typically check every two weeks.
4 0
3 years ago
Dividing work among employees and applying motivational theories to increase employee satisfaction are the two components of job
GarryVolchara [31]

Job design involves dividing work among employees and applying motivational theories to increase employee satisfaction.

<h3>What is job design?</h3>

Job design is the act of setting employees' roles and responsibilities and procedures that employee should follow.

The main purpose of job design is to optimise work processes.

Learn more about job design at;

brainly.com/question/14689930

7 0
2 years ago
A self-directed team Select one:
Igoryamba

Answer:

d. makes all decisions internally about leadership and how the work is done and has the potential for high autonomy.

Explanation:

A self-directed team is a group of employees that works without a leader to reach an objective. As this team doesn't have a leader they work together to organize the job and set the rules and deadlines. This model give employees more responsability, increases satisfaction, and gives them autonomy. According to this, the answer is that a self-directed team makes all decisions internally about leadership and how the work is done and has the potential for high autonomy.

7 0
3 years ago
A manager states that his process is really working well. Out of 1,500 parts, 1,477 were produced free of a particular defect an
worty [1.4K]

Answer:

, other things being equal?DPMO= # of defects/# of opportunities for error per unit x # of units (1,000,000)DPMO= 23/1500 x 1,000,000 or DPMO= 23/1,500,000,000 or DPMO= 1.53The 1.53 is within the target specification of Six Sigma. This performance is rated as within limits means the process is working well. The product is within the limits of the defects allowed based off the1500 parts or the “four defects per million units

Explanation:

5 0
3 years ago
Other questions:
  • Corporation produces a semiconductor chip used on communications. The direct materials are added at the start of the production
    11·1 answer
  • Which of the following is a true statement? a. ​The perpetrator may start looking coworkers directly in the eye when talking to
    11·1 answer
  • Rosa, roberto, andrea, and inno find an estimate for √10. who has proposed the best solution?
    9·1 answer
  • Of the following factors affect economic growth? a. land c. labor b. capital d. all of the above
    7·1 answer
  • Wagon Department Store had net credit sales of $16,000,000 and cost of goods sold of $15,000,000 for the year. The average inven
    11·1 answer
  • True or false, The standard of living is high in traditional economies.
    11·1 answer
  • David, a payroll clerk, came up with an idea for processing payroll more efficiently and presented it to the Human Resources Dep
    14·1 answer
  • Evergreen Company sells lawn and garden products to wholesalers. The company’s fiscal year-end is December 31. During 2021, the
    7·1 answer
  • If a lender wants to yield 5% on a 4.25% fixed rate loan, then what fees should the lender charge?
    5·1 answer
  • Insolvency occurs when liabilities far exceed available assets.
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!