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
Why might you complete a 1040 instead of a 1040ez?
Liula [17]
D none of the above
8 0
2 years ago
Free cash flow describes the net cash provided by operating activities after adjusting for A : current liabilities. B : both cap
Nikolay [14]

Answer:

The answer is B, both capital expenditure and dividends paid.

Explanation:

In the Statement os Cash Flow, cash provided by operating activities fails to take into account that a company must invest in a new property, plant, and equipment and must maintain dividends at current levels to satisfy investors.

Free cash flow describer the net cash provided by operating activities after adjusting for capital expenditures and dividens paid.

7 0
2 years ago
You possess a SECRET personnel security clearance and have been assigned to work on Project X. Carlos is your superior and has a
Mice21 [21]

Answer:

No. The classified document should not be shared with Carlos

Explanation:

Based on the information given the classified document should not be shared with Carlos because Carlos is not part of the Project X team and he does not have a "need-to-know" secondlly no one else is supposed to be given automatic access to the Secret document in my possession related to Project X or the classified information solely because the person is my superior or because of the person rank, position or security clearance.

6 0
3 years ago
​Electric, Inc. was incorporated on January​ 1, 2016. Electric issued 7 comma 000 shares of common stock and 1 comma 200 shares
marta [7]

Answer:

$48,000

Explanation:

The computation of the total amount paid to the preferred shareholder is shown below:

= Number of preferred stock shares × par value × dividend rate × number of years

= 1,200 shares × $100 × 10% × 4 years

= $48,000

Simply we multiplied with the number of preferred stock with the par value, its dividend rate and the time period so that the correct value can come

All other information which is given is not relevant. Hence, ignored it

7 0
3 years ago
Which is least like the others<br> Bear, badger, elephant, hamster
grin007 [14]
Elephant I would guess........
6 0
3 years ago
Other questions:
  • A lender estimates that the closing costs on a $312,500 home loan will be $12,500. the actual closing costs were 4.25% of the lo
    7·2 answers
  • What is the one major category that separates national debt from public debt?
    8·1 answer
  • To pay your bills on the due date or soon after is to earn a _________ credit rating.
    6·1 answer
  • Consider the following list of items: Food Electric bill Clothing Health insurance These are all examples of:
    5·2 answers
  • The Petit Chef Co. has 7 percent coupon bonds on the market with 9 years left to maturity. The bonds make annual payments and ha
    9·1 answer
  • 15Question(1 point) 1st attempt What will happen in a market where a nonbinding price floor is removed? Choose one:
    8·1 answer
  • Explain the difference between conflict and competition.
    12·1 answer
  • When referring to student loans, what is a grace period?
    14·1 answer
  • Consider the three theories of the upward slope of the short-run aggregate-supply curve. According to the sticky-wage theory, th
    5·1 answer
  • Conducting a thorough assessment to document what sensitive information an organization is collecting, where it is stored, how l
    13·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!