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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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1 year ago
You buy a lottery ticket to a lottery that costs $10 per ticket. There are only 100 tickets available to be sold in this lottery
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Explanation:

Total number of tickets to be sold = 100 tickets

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The expected loss is $2.3

5 0
3 years ago
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240 individuals are recruited in this trial, and the new treatment is effective on 60 of them. What is the p-value associated wi
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3 years ago
Write H if the resource is a human resource, and NH if it is a nonhuman resource. 1.Machines
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