Why did the housing market crash in 2008

On January 3, Halsall Corporation purchased 1,800 shares of the company's $1 par value common stock as treasury stock, payin

Salsk061 [2.6K]

Answer:

The journal entries alongwith its explanation are as under:

Explanation:

Journal entry at Jan 3, to record purchase of treasury stock would include the recording of treasury stock at the price paid to the shareholders for purchase of the stock, the journal entry is as under:

Dr Treasury Stock (1800 share*$8 per share) $14,400

Cr Cash $14,400

Journal entry at Jan 30, of selling treasury stock would include the elimination of the treasury stock at the amount purchased and the remainder will will be the Paid-In Capital, the journal entry is as under:

Dr Cash (1200*9) $10,800

Cr Treasury stock (1200*8) $9,600

Cr Paid in capital from sale of treasury stock $1,200

4 0

3 years ago

Klingon Cruisers, Inc., purchased new cloaking machinery five years ago for $20 million. The machinery can be sold to the Romula

muminat

Answer:

1) Book Value= $16,464,000

2) Market Value = $19,080,000

Explanation:

The first question is to determine the book value of Klingon's assets today. Book value is the carrying value of the business in its balance sheet.

Book Value = Net working Capital + Current Liabilities + Net Fixed Assets

Net working Capital= $226,000

Current Liabilities= $700,000

Net Fixed Assets= $15,500,000

Book Value = $226,000+ $700,000+$15,500,000= $16,464,000

2) Calculate the market value

The formula for market value = How much the machinery was sold to Romulans today+ today's value of the current assets if they are liquidated

The market value of assets is a function of the current market price they can be sold for and received on the day of the valuation

Market Value= $18,000,000 + $1,080,000= $19,080,000

4 0

3 years ago

A citation identifies the publication in which a legal authority can be found.

Snezhnost [94]

<span>True. Citations provide a level of credit to the original author of a source and allow for legal and lawful use of a source. Without citations, the use of other sources to produce a work is considered to be plagiarism, a punishable offense at most Universities and workplaces.</span>

5 0

2 years ago

Jake considers himself to be a follower of Thomas Malthus. Which of the following statements would Jake be most likely to make?

Ber [7]

Answer:

D

Explanation:

The Malthus theory states that population should be controlled because there are no enough resources to please the future needs. This is how it works: in the short-run there is a change in technology that leads to an increase in income. Because people have more income, better life standards, the birth rate increases and exceeds the death rate. In the long-run total income would have to be distributed between more people than before and the economy reaches the equilibrium again, in which the birth rate equals the death rate.

In other words, econmic success becomes a reproductive success.

3 0

3 years ago

A cash dividend payment to shareholders during the year should be reported on the statement of cash flows as:Multiple ChoiceAn i

mafiozo [28]

Answer:

A decrease in cash flows from financing activities

Explanation:

When cash dividend is paid,

It is an outflow of cash as paid, therefore it will decrease the cash flows.

Further dividend is paid to equity, or preference capital raised for business, which is a financing activity.

Therefore, a cash dividend paid to shareholders will result in decrease in cash flow from financing activities.

Whereas cash dividend received is investing activity.

Final Answer

A decrease in cash flows from financing activities.

3 0

3 years ago

Read 2 more answers