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Ahat [919]
2 years ago
15

Llewelyn Company purchased 1,000 shares of its own $10 par value common stock when the market price of the stock was $36 per sha

re. What journal entries would be used to record the purchase of treasury stock?
Business
1 answer:
VARVARA [1.3K]2 years ago
5 0

Answer: Increase the treasury stock account and decrease the cash account by $36,000.

Explanation:

The journal entries that would be used to record the purchase of treasury stock will be to increase the treasury stock account and decrease the cash account by $36,000.

Note that the $36000 was calculated as:

= 1,000 shares × $36 per share

= $36,000

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Answer:

The correct answer is letter "E": creating a wholly owned subsidiary.

Explanation:

A Subsidiary is a corporation owned 50% or more by another corporation. The owning corporation is usually called the parent or holding company. A company that is 100% owned and controlled by a parent company is called a wholly-owned subsidiary. The benefit of working with a wholly-owned subsidiary is that the parent takes full control of the operations of the organization, just like in the parent branch which ensures all the processes and strategies of the firms will be applied in the subsidiary.

<em>Technology companies tend to adopt the wholly-owned subsidiary strategy</em> to make sure they do not lose control over their technological products.

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2 years ago
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3 years ago
What is the difference between commodity money and fiat​ money?
Eva8 [605]

Answer:

Please see answer in the explanation below

Explanation:

Commodity money can be defined as money that its value comes from the commodity with which it was made. That is, commodity money is money that is gotten as a result of the material from which the money was made. Examples of these materials are silver, gold, etc. These materials have intrinsic value on their own as the materials have a worth of their own before being used to make currency.

Fiat money on the other hand is defined as money that is declared as the legal tender by the government. That means that fiat money is the money that is acceptable as a medium of exchange for goods and services as issued by the government. Fiat money does not have intrinsic value.

Cheers.

6 0
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Explanation:

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