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Fed [463]
3 years ago
7

Lawn Spray Inc. develops and produces spraying equipment for lawn maintenance and industrial uses. On January 31 of the current

year, Lawn Spray Inc. reacquired 50,000 shares of its common stock at $51 per share. On June 14, 24,000 of the reacquired shares were sold at $60 per share, and on November 23, 18,000 of the reacquired shares were sold at $56.
a. Journalize the transactions of January 31, June 14, and November 23. For a compound transaction, if an amount box does not require an entry, leave it blank.
Jan. 31
June. 14
Nov. 23
The repurchase of shares, known as treasury stock, is typically recorded using the cost method. When the treasury stock is resold, what is the company receiving? What is it giving up? Keep in mind the price paid to buy the treasury stock and the price the shares are resold for at a later date.

b. What is the balance in Paid-In Capital from Sale of Treasury Stock on December 31 of the current year?$ Credit
c. What is the balance in Treasury Stock on December 31 of the current year?$
d. How will the balance in Treasury Stock be reported on the balance sheet?
Business
1 answer:
Luden [163]3 years ago
7 0

Answer:

a. Journalize the transactions of January 31, June 14, and November 23.

Explanation:

                                          deb cre

jan-31 Treasury Stock 2550000  

(50000*51)  

Cash                                          2550000

   

jun-14 Cash                    1440000  

(24000*60)  

Treasury Stock                            1224000

(24000*51)  

Paid in capital for treasury stock      216000

   

nov-23 Cash                       1008000  

(18000*56)  

Treasury stock                               918000

(18000*51)  

Paid in capital for treasury stock         90000

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Inessa05 [86]

Answer:

C. Reduced prices of Sony televisions resulted in an increase in the quantity demanded.

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Sony is a well known brand . What could explain a sudden double increase in sales while other brands' didn't is most likely a reduction in in prices of Sony products. It is a well known brand and they sell quality products which customers trust. Having a discounted price means they are offering a sale which customers would want to take advantage of.

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<u>Answer:</u> Option A True

<u>Explanation:</u>

As an entrepreneur Frank has made the right decision of rewriting the vision statement for his antique shop.  A business can succeed only when it has a strong vision statement. When there is a proper vision statement the entire business works for that purpose.

The vision statement made should be linked with the goals of employees. This will create a positive and inspiring place for the employees to work. Even the small antique shop can expand its business activities and attain growth through proper vision statement.

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Me. Gareth owns a toy-manufacturing company. Which of these items in his company is an intermediate good?
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A U.S. manufacturer of adaptive devices for persons with disabilities is considering expanding internationally. It is a fairly s
posledela

Answer:

exporting

Explanation:

The exporting refers to the trade in which the goods and services are produced and sold to the another country. In this, the person who sells the goods and services is known as exporter while the foreign buyer who buyed the goods and services is known as importer

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t applies for a life insurance policy and is told by the producer that the insurer is bound to the coverage as of date
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Under a conditional receipt, the applicant and the insurance agency shape a "conditional" settlement this is contingent upon the situations that existed when an utility or medication exam is finished. It provides that the applicant is included right now as long as they bypass the insurer's underwriting requirements.

How is a conditional receipt nice described?

A conditional receipt is a document given to someone who applies for an coverage contract and has provided the preliminary top rate payment. This receipt manner that the character can handiest be insured if she or he meets the standards of insurability and is given approval by the insurance company.

How does a conditional receipt vary?

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Learn more about conditional receipt here :- brainly.com/question/14332118

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8 0
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