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andriy [413]
3 years ago
9

On February 22, Brett Corporation acquired 210 shares of its $3 par value common stock for $25 each. On March 15, the company re

sold 62 shares for $28 each. What is true of the entry for reselling the shares
Business
1 answer:
babunello [35]3 years ago
5 0

Answer:

Credit Additional Paid in Capital $186

Explanation:

Preparation of the true of the Journal entry for reselling the shares

Dr Cash 1,736

(62 x $28)

Cr Treasury Stock 1,550

(62x $25)

Cr Additional Paid-in Capital 186

(62 x $3)

Therefore the journal entry to reissue the shares for Brett Corporation On February 22 would be:

Credit Additional Paid in Capital $186

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In QuickBooks Online Advanced application.

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3 years ago
J &amp; B Corp. is investing in a major capital budgeting project that will require the expenditure of $20 million. The money wi
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Answer:

a) WACC = 12.20%

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Cost of bonds = Cost of debt = 5%

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As it is new issued and not from retained earnings.

With weights cost will be as follows

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