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7nadin3 [17]
3 years ago
8

On December 1, 20X4, Line Corp. received a donation of 2,000 shares of its $5 par value common stock from a stockholder. On that

date, the stock's market value was $35 per share. The stock was originally issued for $25 per share. By what amount would this donation cause total stockholders' equity to decrease
Business
1 answer:
Brrunno [24]3 years ago
7 0

Answer:

$0

Explanation:

The shares that are donated is treated as the treasury shares. The treasury stock and the gain or the revneue account rise the stock market value. If there is an increase in the treasury stock so it reduced the stockholder equity but on the other hand the gain or revenue increase the owner equity

So overall there is no net effect

hence, the amount should be $0

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Answer:

Cash shorting = 36,010 - 36,006 = $4

DR Cash                                                                  $36,006

     Cash Short and Over                                        $         4

     CR Sales                                                                            $36,010

There is a shortage of cash as the sales figure is more than the cash amount. The Cash Short and Over account will therefore be debited to reflect this expense.

7 0
3 years ago
What is the maximum amount a 45-year-old taxpayer and 45-year-old spouse can put into a Traditional or Roth IRA for 2019 (assumi
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Answer:

If you are single, head of household or married filing separately, your contribution limit of $5,500 begins to phase out when your modified AGI reaches $61,000 and is zero beginning at $71,000. If you are married, filing jointly, or a qualified widow or widower, your contribution limit of $5,500 begins to phase out when your modified AGI reaches $98000 and is zero beginning at $118,000. So since they dont have an income limitation and are not covered by another pension plan, they both should be able to contribute $5,500 for a combined result of $11,000 to a Roth IRA

8 0
3 years ago
Read 2 more answers
A project has an initial cost of $18,400 and is expected to produce cash inflows of $7,200, $8,900, and $7,500 over the next thr
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Answer: 2.91 years

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Please check the attached image for the table explaining how the answer was gotten.

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Capital structure decisions include determining: Group of answer choices The terms of a bond issue to fund a project. the amount
IgorC [24]

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A specialist in the HR department is invited to promote the cybersecurity program in community schools. Which three topics would
vitfil [10]

Answer:

The answer is below

Explanation:

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