Answer:
(C) Decrease No effect
Explanation:
at purchase:
30,000 shares x 16 dollars each:
Treasury stock 480,000 debit
Cash 480,000 credit
--purchase of own share--
Then we will decrease retained earnings for the difference in the cash proceed on the sale and our treasury stock.
30,000 x 12 dollars = 360,000 cash proceeds
treasury stock 480,000
decrease in RE 120,000
cash 360,000 debit
retained earnings 120,000 debit
Treasury Stock 480,000 credit
*A limited partner's signature on the subscription agreement grants the general partner power of attorney to conduct the partnership's affairs. The subscription agreement for a limited partnership is deemed accepted when the general partner signs the subscription agreement.
<h3>What is a subscription agreement for a limited partnership?</h3>
The subscription agreement, when executed by a limited partner, gives the general partner the authority to manage the business of the partnership. When the general partner signs the subscription agreement, it is considered approved for a limited partnership.
<h3>What does the general partner's signature on the subscription agreement mean?</h3>
The limited partners are given authority to manage the partnership's affairs by the general partner's signature. The subscription agreement, when executed by a limited partner, gives the general partner the authority to manage the business of the partnership.
<h3>What is a recourse note in a limited partnership?</h3>
Recourse notes obligate the limited partner to make payments regardless of what transpires. He is legally responsible for the $40,000, making his tax base and possible maximum loss $50,000.
A) manage partnership assets on behalf of the partnership as an agent. B) offer the limited partnership real estate.
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Answer:
223,250 shares
Explanation:
proceeds from the exercise of options
= 26000 × 7 = 182,000
used to repurchase common stock at market price
182,000 ÷ 8 = 22,750
shares outstanding march 31, 2021
220,000
shares to be used in cal diluted EPS;
(26,000 - 22750) + 220,000 223,250
No. of Shares for computing Diluted Earning per share = 223,250 shares
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