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
Wittaler [7]
3 years ago
14

On April 16, 2018, Rodriguez Corporation reacquired 12,000 shares of its own $10 par stock for $660,000 cash. On November 4, 201

9, 1,000 of the treasury shares were reissued at a price of $65 per share. The journal entry to record the reissuance of the 1,000 shares of stock on November 4 includes a:__________.
a) Credit to additional Paid In Capital: Treasury Stock Transactions of $10,000.
b) Credit to Treasury Stock reissued of $65,000
c) Credit to Gain on Treasury Stock transactions of $10,000.
d) Credit to Common Stock of $10,000
Business
1 answer:
never [62]3 years ago
6 0

Answer:

The answer is a) Credit to additional Paid In Capital: Treasury Stock Transactions of $10,000.

Explanation:

The repurchased price per share in April 16,2018 is equal to: 660,000/12,000 = $55 per share;

Thus, once the reissued of these 12,000 repurchased shared took place, common stock account will be credited at the amount equal to 55 x Number of share reissued. In case the reissued price is higher than $55, the surplus amount will be Credited into Paid-in Common share account to present the difference between cash receipt and common share recorded; in case reissued price is lower than $55, Retained earning account will be debited to present the difference between cash receipt and common share recorded

As a result, the reissued of share on November 4,2019 will include a $10,00 credited to additional Paid In Capital; calculated as (65-55) x 1,000 = $10,000.

You might be interested in
What statement about minimum payments is incorrect
Oksana_A [137]

"If you send in the minimum payment, you will be charged a late fee."

This is an INCORRECT statement, because  you will not be charged a late fee just for making the minimum payment. Minimum payments are not a good idea because you will be charged interest on the remaining amount and will have a harder time paying off the balance, but you will not be charged a late fee.

3 0
3 years ago
Adjusts the accounts at the end of each month. cruella's adjusting entry at the end of february should include a debit to rent e
Sauron [17]

After each month, adjust the accounts. Cruella's adjusting entry at the end of February should include a debit to rent expense for $100.

<h3>What is an adjusting entry?</h3>

Adjusting entries refer to a set of journal entries recorded at the end of the accounting period to have updated and accurate balances of all the accounts. The main purpose of adjusting entries is to communicate an accurate picture of the company’s finances. The management can have a proper look into the financial statements knowing that Everything that occurred during the month is reported, even if the financial part of the transaction would have been warranted to have occurred at a later stage.

To learn more about adjusting entries, visit;

brainly.com/question/4035835

#SPJ4

8 0
2 years ago
Which of the following statements is true? Group of answer choices An explicit cost is an actual cost; an implicit cost is a the
professor190 [17]

Answer:

Economic costs include both explicit costs and implicit costs.

Explanation:

  • In economics, costs can be in the form of explicit and implicit as implicit costs are opportunity costs and are opportunities for engaging in business. While the explicit costs are accounting costs which are involved in the production of raw matter, wages etc.
7 0
3 years ago
14) If the investor wants to have a portfolio with a 16% expected return, the minimum standard deviation he can achieve is a) 40
stellarik [79]

The main aim in which any investor puts his capital into a business is to:

  • Make profit.

<h3>What is an Investment?</h3>

This refers to the value which is given to a certain venture or business in order to yield profit after a period of time.

With this in mind, we can see that several parameters are missing from the question, but expected returns are measures of probability that are used to calculate profit and ROI.

Please note that your question is incomplete so I gave you a general overview to help you get a better understanding of the concept.

Read more about investing here:
brainly.com/question/25572872

8 0
2 years ago
Describe the organizational structure that might best suit Suburban Homes. Ensure that your discussion includes all possible str
Evgen [1.6K]

Answer:

Suburban organizational structures of homes are of different patterns that is evolving over the years.

From the days of cluster pattern of building of homes. This was struck out because it does not allow cross ventilation.

The elongated building system by the side of roads. The danger of over closeness to road struck out this organizational structure of suburban homes.

Also,Suburban structures occasionally call to mind their roots in the frontier experience — a pioneering spirit crystallized in the image of a small house standing at the edge of a vast and savage landscape. Confronting the wilderness, this cabin provides a place of refuge for the men and women who work the land in advance of the settlement yet to come. Today the legacy of the pioneer’s cabin can be encountered at the fringes of suburbia like a portent of the vast expanses of housing that will follow in its wake. In true pioneering fashion, the structure shown here lays claim to the landscape simply by virtue of being there first. The homespun elements of pitched roof and white timber siding, fetishistically pristine against the churned soil of the building site, are the formal embodiment of the myth of Manifest Destiny — a symbol of enterprise, resourcefulness and ultimate triumph in the face of an unknown and threatening world. Like Abbe Laugier’s own primitive hut, both natural and affected, this cabin stands as the proud primogenitor of suburbia.

6 0
3 years ago
Other questions:
  • If you are feeling very anxious about delivering a speech, the most effective response is to
    14·1 answer
  • A small business produces a single product and reports the following​ data: Sales price ​$8.50 per unit Variable cost ​$5.25 per
    5·1 answer
  • A homeowner sued a plumber for damages resulting from the plumber's allegedly faulty installation of water pipes in her basement
    11·1 answer
  • Children in poor neighborhoods often have bleak outlooks on life and see little gain from studying. In a recent experiment, chil
    14·1 answer
  • You purchased 100 shares of stock value at $55 per share. The stock value increases to $85 per share what was the rate of increa
    12·1 answer
  • On January 1, Sway Corporation had 60,000 shares of $10 par value common stock outstanding. On March 17, the company declared a
    11·1 answer
  • Monetary Policy Definition<br> A B C or D
    14·2 answers
  • 1. Do you think the day will come when people no longer use cash? Why, or why not?
    10·1 answer
  • Investing money in a retirement fund is part of a plan for achieving _____. A. Immediate goals b. Long term goals c. Short term
    6·1 answer
  • By buying a ________ bond, investors may choose to exchange their bond for shares of common stock in the company.
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!