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
nikdorinn [45]
3 years ago
12

Elroy Corporation repurchased 4,000 shares of its own stock for $30 per share. The stock has a par of $10 per share. A month lat

er, Elroy resold 900 shares of the treasury stock for $32 per share. Required: a. Record the two events in general journal format. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Business
1 answer:
Firdavs [7]3 years ago
7 0

Answer:

Here, selling price is $32 and the cost of treasury stock is $30, Hence selling price is higher than cost.

Following Journal Entries are to be passed:

(a) Treasury Stock (4,000 shares × $30) A/c   Dr.   $120,000

To Cash A/c                                                                               $120,000

(b) Cash (900 Shares × Selling Price $32) A/c   Dr.  $28,800

To Treasury Stock (900 shares × Cost 30)                               $27,000

To  Paid in Capital from Treasury Stock (Difference)                $1,800

 

You might be interested in
Firms that are _______ recognize that including a strong social orientation in business is a sound strategy that is in the best
nirvana33 [79]

Answer:

The correct answer is E. socially responsible

Explanation:

A company is socially responsible when it works attached to values and that within its business objectives includes supporting social, economic and environmental needs in order to optimize its competitive situation and its added value.

When a company is socially responsible, it does so by its own decision and not by taxation and its policies, strategies and practices are aimed at favoring its employees, suppliers, family, environment and environment.

The green paper of the European Commission states that "corporate social responsibility is the voluntary integration, by companies, of social and environmental concerns in their business operations and their relationships with all their partners."

7 0
3 years ago
hailey corporation pays a constant $13.50 dividend on its stock. the company will maintain this dividend for the next 8 years an
Elena-2011 [213]

The current share price is approximately $69.47

<h3>What is the Share price?</h3>
  • The cost of one share of a group of marketable equity shares of a firm is known as the share price.
  • Simply put, the stock price is either the lowest possible price or the maximum price someone is ready to pay for the stock.
  • Analysts estimate the behavior of asset prices, especially share prices in stock markets, using random walk approaches in economics and financial theory.
  • The share price method is predicated on the idea that investors behave logically and impartially and constantly appraise the value of an asset based on expectations for the future.
  • In such a scenario, the price is influenced by all available information and is only subject to alteration in response to the release of new information.

Share price = $13.5 × Present value of annuity factor(11%,8)

Share price =$13.5 × 5.146122761

Share price =$69.47(Approx).

Hence, the current share price is approximately $69.47

To learn more about Share price from the given link

brainly.com/question/28546868

#SPJ4

5 0
1 year ago
Suppose that borrowing is restricted so that the zero-beta version of the CAPM holds. The expected return on the market portfoli
raketka [301]

Answer:

10.4%

Explanation:

The computation of expected return on a portfolio is shown below:-

Expected return = Risk Free return + 5%Beta ( Market Return - Risk Free return)

= 5% + 0.60 × (17% - 8%)

= 5% + 5.4%

= 10.4%

Therefore for computing the expected return on a portfolio with a beta of .6 we simply applied the above formula.

The market return less risk free return is known as market risk premium

3 0
3 years ago
Given the $300 cost per person of each public good, what are adams’ net benefits for each public good individually?
mart [117]
<span>The net benefits of each public good will be the total cost of the project minus the $300 cost per person. If the project costs 600$ the net benefits for each public good will be $300. $600(total cost) - $300(cost per person) = $300(net benefits)</span>
7 0
3 years ago
anufacturers consider selling and administrative costs to be A. prime costs. B. conversion costs. C. inventoriable costs. D. per
malfutka [58]

Answer:

D. period costs.

Explanation:

The period cost is the cost which is incurred during the passage of time. It includes the major part of the ling and administrative expenses of the income statement. This cost is not capitalized. It is to be allocated based on the expenses that are against the revenue.  

Example - Depreciation on delivery trucks, advertising expense, etc

8 0
3 years ago
Other questions:
  • Gourd supermarkets has an extensive training program for all new employees and then has all employees spend a day in customer se
    13·2 answers
  • You go to an all-you-can-eat buffet. if you maximize utility, the marginal utility of the last bite that you eat will be:
    8·1 answer
  • Most business enterprises in the united states are privately owned, but the federal government owns a number of major enterprise
    8·1 answer
  • explain how the substitution effect in the income effect interact with changes in price to change the quantity of demand
    6·1 answer
  • Andrew agrees to paint Rosalene's house for $500. Two days after he starts the job, he decides that $500 isn't enough money. He
    13·1 answer
  • What’d does market value of a good or service mean?
    9·1 answer
  • Consider the optimal consumption bundle for a consumer who is choosing between two goods, x and z, which she considers perfectly
    7·1 answer
  • The Ladders is a career search site specializing in high income ($80k+) job placement. Their headline, "Your career is our job,"
    7·1 answer
  • True Moto Corp. (TMC) is a leading automobile company. The company has been able to sustain its competitive advantage primarily
    14·1 answer
  • Morgana Company identifies three activities in its manufacturing process: machine setups, machining, and inspections. Estimated
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!