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MrMuchimi
3 years ago
5

On February 22, Brett Corporation acquired 250 shares of its $3 par value common stock for $26 each. On March 15, the company re

sold 66 shares for $29 each. What is true of the entry for reselling the shares
Business
1 answer:
Alex3 years ago
5 0

Answer: Credit Additional Paid in Capital $198

Explanation:

Brett Corporation reissued the Treasury Stock at $29 which was $3 higher than the amount they had repurchased it for.

When stock is sold for a price higher or lower than they are worth, the balance goes to the Additional Paid-in Capital account. If it is sold higher, the balance is Credited to the Additional Paid-in Capital account and if it is sold for lower than it is worth, it is debited.

The Balance here is,

= $3 * 66 resold shares

= $198

This $198 will therefore be credited to the Additional Paid-in Capital account.

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Acme Home Lending offers home equity loans up to 80% of the home value for its customers. If Sally Johnson has a home valued at
EastWind [94]

Answer:

She can borrow $110,000 in a home equity loan from Acme

Explanation:

Home equity loan is available to the 80% of the Home value. sally has already a mortgage of $50,000 so she can only borrow the differential amount of Allowable loan and existing loan.

As per given data

Home value = $200,000

Allowable Loan limit = $200,000 x 80% = $160,000

Existing Loan = $50,000

Available limit of Loan = Allowable Loan limit - Existing Loan = $160,000 - $50,000 = $110,000

She can borrow $110,000 in a home equity loan from Acme

7 0
3 years ago
What is a standard of living?
mezya [45]

Answer:

The degree of wealth and material comfort available to a person or community.

Explanation:

How nice the way they live their life is

7 0
3 years ago
A production possibilities​ frontier: A. shows how unlimited wants exceed the limited resources available to fulfill those wants
solong [7]

Answer:

The correct answer is C. Shows the maximum attainable combinations of two goods that may be produced with available resources.

Explanation:

The Production Possibilitiy Frontier (PPF) shows the most optimal usage of a a limited amount of resources to produce two separate goods and obtain the maximum production output possible. This theory is applicable only to the production of 2 products and demonstrates the concept of cost of opportunity. Producing more of one of the products means producing less of the other, as the resources are scarce.

4 0
3 years ago
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Han and Leia Solo have been married for 24 years and have three children who qualify as their dependents (Jacen, 4; Jaina, 14; a
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Other part of question attached

Answer and Explanation:

Answer and explanation attached

3 0
3 years ago
On October 1, 2017, Sharp Company (based in Denver, Colorado) entered into a forward contract to sell 330,000 rubles in four mon
Yuliya22 [10]

Solution:

Date             Account tides           Debit (S in ruble)      Credit (S in ruble)

                 and Explanation

Oct 1        Accounts receivable             96,600

                    Sales

          ( 210,000 ruble x $0.46)                                       96,600

Dec 31     Accounts receivable

           ( 50.49-50.46) x (210,000 ruble)   6,300

             Foreign Exchange gain                                       6,300

          Loss on forward contract            2079,21

                   Forward Contract

     (50.52-50.51) x 210,000 ruble =2,100

             2,100 x 0.9901= $2079.21                                2079.21

Jan31        Accounts receivable (LC U)       4,200

                   Foreign exchange gain

            (50.51-50.49) x 210,000 ruble                               4200

                     Foreign currency                 107,100

                 Accounts receivable

           (596.600-56,300-54,200)                                   107,100

                          Cash                              107,100

               Foreign cuuency (LCU)

                ($0.51 x210.000 ruble)                                      107,100  

6 0
3 years ago
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