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Kay [80]
3 years ago
11

1. Day Corp. holds 10,000 shares of its $10 par value common stock as treasury stock reacquired in Year 2 for $120,000. On Decem

ber 12, Year 4, Day reissued all 10,000 shares for $190,000. Under the cost method of accounting for treasury stock, the reissuance resulted in a credit to
2. The changes in account balances of the Vel Corporation during Year 6 are presented below:

Increase

Assets

$356,000

Liabilities

108,000

Capital stock

240,000

Additional paid-in capital

24,000

Vel has no items of other comprehensive income (OCI), and the only charge to retained earnings was for a dividend payment of $52,000. Thus, the net income for Year 6 is
Business
1 answer:
katovenus [111]3 years ago
7 0

Explanation:

According to the accounting cost method , the reissuance of the treasury stock would be credited to the additional paid in capital which represents the remaining amount i.e deduct $120,000 from the $190,000

And, the net income for the year 6 is

= Increase in assets - Increase in liabilities - Increase in capital stock - Increase in additional paid in capital + Dividend payment

= $356,000 - $108,000 - $240,000 - $24,000 + $52,000

= $36,000

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wolverine [178]

The correct answer of the question is Fraud.

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5 0
1 year ago
Recently, you accepted an internship position with the Tulawaka Zoo in Tennessee. You report to Sharon Molacavage, the Senior An
Furkat [3]

Answer:

The correct answer is letter "B": A moderately favorable situation in which Sharon’s relationships with her employees are strained, but where the employees are still doing highly structured tasks.

Explanation:

Austrian organizational psychologist Fred Fiedler (<em>1922-2017</em>) proposed in his Theory of Contingency that leaders only have one leadership style and that they cannot shape it according to the different situations they might be involved in. Instead, leaders must be located in a situation that matches their style.

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3 0
3 years ago
How would you check the accuracy of the opening balance of the most recent statement?
Trava [24]

Answer:

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6 0
3 years ago
A property has a monthly net income of $1800, and an appraiser believes a 9 percent rate of return is appropriate for the proper
mart [117]

Answer:

estimated value =  $240000

so correct option is C. 240000

Explanation:

given data

net income = $1800

rate of return = 9%

to find out

estimated value

solution

net income annual will be  = net income ×  12 (months)

net income annual  = $1800 ×  12

net income annual  = $21,600

so estimated value will be

estimated value = \frac{net\ income\ annual}{rate}

estimated value = \frac{21600}{0.09}

estimated value =  $240000

so correct option is C. 240000

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3 years ago
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