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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.

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S= (1+r)c. find c if s=174 and R<br> =455
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174=(1+455)c
c=174/456
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3 0
3 years ago
Within the relevant range, variable costs can be expected to: Multiple Choice remain constant in total as the activity level cha
Rudiy27

Vary in total in direct proportion to changes in the activity level. As this cost increase or decrease, the output level.

<h3>What is the variable cost dependency?</h3>

Variable costs are proportional to output, resulting in a fixed sum per unit produced. It indicates that when more products are manufactured, variable costs will rise; conversely, if fewer products are manufactured, variable costs will fall.

Thus, option C is correct.

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8 0
2 years ago
Suppose the firm currently uses the input (L; K) = (8; 10) and produces 10 units of output. In addition, the manager finds that
labwork [276]

Answer:

A. Layoff some workers and acquire more capitals.

Explanation:

See attached file

8 0
3 years ago
The equilibrium price and quantity of a good are found where the supply and demand curves intersect.
Ne4ueva [31]

True. This is one of the most basic economic concepts which you should recite by heart.

7 0
3 years ago
At December 31, 2020, Pharoah Company has outstanding three long-term debt issues. The first is a $2,370,000 note payable which
Snezhnost [94]

Answer:

The first is a $2,370,000 note payable which matures June 30, 2023.

The second is a $5,580,000 bond issue which matures September 30, 2024.

annual sinking fund payments of $2,570,000 in each of the years 2022 through 2026.

Year       Amount of long term debt       Working      

2021                   $0

2022              $2,570,000

2023              $4,940,000                       = $2,570,000 + $2,370,000

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2025              $2,570,000

2026              $2,570,000

Long term debt is debt that must be paid in a period of time longer than one year. Debts that are due in less than one year are classified as current debts or liabilities. That is why there is no long term debt for 2021 (current year).

7 0
3 years ago
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