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
OLEGan [10]
3 years ago
14

Victory Corporation sold 400 shares of treasury stock for $45 per share. The cost for the shares was $35. The entry to record th

e sale will include a
Business
1 answer:
Marianna [84]3 years ago
6 0

Answer:The entry to record the sale will include a Credit toPaid in Capital from  treasury stock at $4,000.

Explanation:

Journal entry to record sale of shares

Accounts and explanation          Debit                  Credit

Cash                                        $18,000

Treasury stock                                                      $14,000      

Paid in Capital from Treasury STOCK                  $4,000

Calculation

CASH = Number of  shares x Price per share

= 400 x $45=$18,000

Treasury stock = Number of  shares x Price per share

= 400 x $35=$14,000

Paid In Capital = Cash - Treasury stock= $18,000- $14,000= $4000

You might be interested in
individuals in different segments should have ______ within the segment and ______ across the segments.
pochemuha

Answer:

similarities; differences Is correct answer

Explanation:

individuals in different segments should have similarities within the segment and differences across the segments.

(Hope this helps can I pls have brainlist (crown)☺️)

5 0
2 years ago
Which of the following is LEAST likely to be a reason for firms to form a cartel?
GalinKa [24]

Answer:

The correct answer is letter "C": to raise competition among firms in the cartel.

Explanation:

A cartel is a group of companies or countries working together to regulate the price of a single product they produce in common. The cartel makes it impossible for a foreign business to enter the market and demand lower prices. Cartels are, in most cases, not helpful to customers. They generate high prices that remain unchanged until consumers find alternative ways to purchase the same items.

Under such a scenario,<em> cartels are unlikely to be formed to generate more competition among the companies that compose them.</em>

4 0
2 years ago
Rosewood Company made a loan of $16,000 to one of the company's employees on April 1, Year 1. The one-year note carried a 6% rat
erastovalidia [21]

Answer:

The correct answer is $720 in Year 1 and $240 in Year 2 Next.

Explanation:

According to the scenario, the given data are as follows:

Loan Amount =$16,000

Rate of interest = 6%

Time period for first year (Apr - Dec) = 9 months

Time period for second year ( Jan - Mar) = 3 months

So, we can calculate the amount of interest by using following formula:

For first year:

Amount of interest (1st year) = $16,000 × 6% × 9 ÷ 12 = $720

Amount of interest (2nd year) = $16,000 × 6% × 3 ÷ 12 = $240

8 0
3 years ago
Which has more elastic Supply in the short run, ice cream or oranges?
Cerrena [4.2K]
Ice Cream. E<span>lasticity is higher when the good are luxuries and ice cream has </span>to actually be made.
8 0
3 years ago
The _____________ is the contract that seals the deal when you buy a car.
solmaris [256]
The answer is a loan agreement because you agreed to by the car
8 0
3 years ago
Other questions:
  • Primo Corporation acquired 60 percent of Secondo Corporation’s voting common stock. On the date of acquisition, Primo had equipm
    12·1 answer
  • You decide to form a portfolio of the following amounts invested in the following stocks. What is the expected return of the por
    12·1 answer
  • Assuming that taxes and net exports are zero, government purchases of goods and services are equal to $12, and gross private dom
    5·1 answer
  • Chang Co. issued a $54,300, 120-day, discounted note to Guarantee Bank. The discount rate is 9%. Assuming a 360-day year, the ca
    9·1 answer
  • Tim Tupper's term paper-typing business is a perfectly competitive firm in long-run equilibrium. Which of the following does not
    6·1 answer
  • Higgs Enterprise's flexible budget cost formula for indirect materials, a variable cost, is $0.75 per unit of output. If the com
    11·1 answer
  • The market for fertilizer is perfectly competitive. Firms in the market are producing output but are currently making economic l
    6·1 answer
  • When a boy or girl breaks your heart break their's
    14·2 answers
  • How can being involved in extracurricular activities help you stand out on your college application?​
    13·1 answer
  • Public transportation is an inferior good. if consumers' incomes decrease, this will cause:____.
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!