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qaws [65]
3 years ago
14

Coy, Inc. initially issued 200,000 shares of $1 par stock for $1,000,000 in 2016. In 2017, the company repurchased 20,000 shares

for $400,000. In 2018, 10,000 of the repurchased shares were resold for $160,000. In its balance sheet dated December 31, 2018, Coy, Inc.'s treasury stock account shows a balance of:
Business
1 answer:
Ivan3 years ago
6 0

Answer: $240,000

Explanation:

400,000÷20,000 = $20 per share (repurchase price)

160,000 ÷ 10,000 = $16 per share (sales price)

$400,000 - $160,000 = $240,000

The treasury stock account is created upon the repurchase of a company's own stock. The treasury stock account is debited for cost of repurchase and then credited.back when the stocks are resold. However, after repurchasing 20,000 stock for 400,000 and selling hlaf the repurchased stock (10,000) for $160,000, then the repurchase price is greater than the sales price. There will be no paid in capital, with the entire amount credited to treasury stock.

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If a business has a negative cash flow, the revenue must be _____ operating expenses.
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<h3>Answer :</h3>

<em>Less than</em>

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7 0
2 years ago
A machine originally had an estimated useful life of 6 years, but after 4 complete years, it was decided that the original estim
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Answer:

d. 6 years

Explanation:

Depreciation is the loss of value of an asset over a period of time. The asset has a useful life period after which it is referred to as scrap.

The value of the asset after it's useful life is called the salvage value.

Useful life of an asset is estimated and deductions in its value are made till the useful life is exhausted.

In this scenario the useful life was initially taken to be 6 years.

After 4 years it was realised a mistake wasade and useful life is supposed to be 10 years

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6 0
3 years ago
The following items are reported on a company's balance sheet: Cash $210,000 Marketable securities 120,000 Accounts receivable (
valkas [14]

Answer:

See below

Explanation:

1. Current ration

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2. Quick ratio

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3 0
3 years ago
explain how technology and media affect the decisions that families make about purchasing products and services.
Elina [12.6K]

Technology including social media increase word of mouth. In some cases word of mouth via technology is known as word of mouse. Word of mouse changes the buying behavior of families.

5 0
3 years ago
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brainly.com/question/13969108

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2 years ago
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