Answer:
Groundcover, Inc.
Journal Entry to record the reissuance of 400 shares on April 8, 2016 would include (using the cost method):
Apr. 8 Debit Cash $3,200
Credit Treasury Stock $3,200
To record the reissuance of 400 shares at $8 a share.
Explanation:
a) Data and Analysis:
Apr. 1 Treasury Stock $10,000 Cash $10,000
Apr. 8 Cash $3,200 Treasury Stock $3,200
May 2 Cash $6,500 Treasury Stock $6,500
b) There are two methods for recording Treasury Stock transactions. One is the cost method. This method ignores the par value and the difference between the par value and the cost. It uses the cost to record the repurchase and resale of treasury shares. The second method is the par value method. This method differentiates the par value and cost for both repurchase and resale of treasury stock shares. The differences are recorded in the Additional Paid-in Capital account so that only the par values are recorded in the Treasury account.
Answer: completed in the period
Explanation:
Job order costing system refers to the system when small batches of the products are ordered by the customers. It is useful in knowing the cost that's used in the manufacturing of each product.
It's usually used when different products are being produced and the cost for each individual job need to be calculated. Under a job-order costing system, the dollar amount transferred from Work in Process to the finished goods will be the sum of the costs that's charged to all jobs that are completed in the period.
Answer:
The statement which is true is as follow:
A. If Jenny's marginal tax rate in the year of contribution is higher than her marginal tax rate in the year of distribution, she will earn a higher after-tax rate of return on the traditional 401(k) plan than on the Roth 401(k) plan.
Explanation:
- Traditional and Roth 401(k) are the retirement saving plans and have a difference that is important to understand by you.
- In Traditional 401(k), contributions are made before tax that means your withdrawals are taxed Roth 401(k) contributions are made after tax that mean withdrawals are not taxed.
- The option A is correct as Jenny's marginal tax rate in the year of contribution is higher than her marginal tax rate in the year of distribution but she will earn a higher after-tax rate of return on the traditional 401(k) plan than on the Roth 401(k) plan as it has been discussed in the above point that in traditional 401(k), our withdrawals are taxed but not in Roth 401(k).
Not a job, but you can baby sit for people if you know how to take care of kids
<u><em>Answer:</em></u>
<u><em>b. The PPP condition implies that the rupee has appreciated relative to the dollar</em></u>
<u><em>Explanation:</em></u>
Remember, the <em>inflation rate</em> looks at how the prices of goods and services in a country increases over a period of time, and it's effects on the the purchasing value or power of money in the country.
As in this scenario, India had 2 percent inflation rate while United States had 2.7 which is a higher price increases not in a different period but the same one, meaning that the <em>Purchasing power parity (PPP) </em>condition of the rupee has appreciated relative to the dollar from 2008-2012.