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Marianna [84]
3 years ago
14

Rock Bottom Gold Company recently repurchased 7 million shares of its common stock for $47 per share. The intent of the repurcha

se was to increase earnings per share to be more in line with competitors. Required: 1. Determine the impact of the stock repurchase on assets, liabilities, and stockholders' equity. (Enter your answers in whole dollars not in millions (i.e., 1,000,000 not 1.0). Negative amounts should be indicated by a minus sign.)
Business
1 answer:
Eddi Din [679]3 years ago
5 0

Answer:

a. Assets = Liabilities  + Stockholder's Equity

Assets = Cash (7,000,000*$47) = -$32,90,00,000

b. Liabilities = No Effect

c. Stockholder's Equity = -$32,90,00,000

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A single person earns a gross biweekly salary of $780 and claims 6 exemptions. how does their net pay change due to the federal
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A single person earns a gross biweekly salary of $780 and claims 6 exemptions. their net pay changes due to the federal income tax withheld No federal income taxes are withheld. Option A. This is further explained below.

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6 0
2 years ago
Thiss information relates to McCall Real Estate Agency.
Oduvanchick [21]

Let understand that "journal" means a <em>detailed account </em>used to records all the financial transactions of a business.

  • The journal have a debit and credit.

Here, a "general journal account" will be employed to contain the list of information from McCall Real Estate Agency.

                                Journal Entry

Date       Account titles                     Debit      Credit

Oct 01     Cash                                $33,380

                      Common Stock                         $33,380

Oct 02 No Entry                          $0

               No Entry                                                  $0

Oct 03     Furniture                         $4,060

                    Account Payable                          $4,060

Oct 06    Accounts receivable        $10,630

                     To Service revenue                     $10,630

Oct 10    Cash                                    $240

                     To Service revenue                      $240

Oct 27    Account Payable                $680

                     To Cash                                          $680

Oct 30 Salary expense                  $3,110

                     To Cash                                          $3,110

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