Answer:
The balance in the Paid-in Capital from Treasury Stock account at December 31, 2014 is $36,000
Explanation:
The computation of the balance in the treasury stock account is shown below:
= Number of shares sold × (Selling price of share - purchase price of share)
= 18,000 shares × ($13 per share - $11 per share)
= 18,000 shares × $2 per share
= $36,000
The other items which are mentioned like issued shares, authorized shares are irrelevant because we have to compute for the treasury stock, not for the common stock. So, these parts would be ignored in the computation part.
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They usually rise because more people are evacuating the area and a lot of people need gas so gas companies take advantage of this and raise their gas price so they can make a profit off the hurricane.
Which make easier the measurement of economic activity in the three ..... the strategy used by firms that have as many different product
Answer:
a.
Date Account Title Debit Credit
Jan. 31 Product Warranty Expense $15,160
Product Warranty Payable $15,160
<u>Working:</u>
Product warranty expense = Amount of sales for January * Estimated product warranty
= 379,000 * 4%
= $15,160
b.
Date Account Title Debit Credit
Jan. 31 Product Warranty Payable $355
Supplies $250
Wages payable $105
The costs of the warranty will be taken from the liability account for warranties because the warranty payable account represents that the company owes warranty repairs which the customer just came to collect.
