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iogann1982 [59]
4 years ago
14

Sheridan Company originally issued 4800 shares of $10 par value common stock for $144000 ($30 per share). Sheridan subsequently

purchases 470 shares of treasury stock for $25 per share and resells the 470 shares of treasury stock for $30 per share.
Required:
1. Journalize the two treasury stock transactions.
Business
1 answer:
Monica [59]4 years ago
6 0

Answer:

Following journal entries would be recorded:

Cash A/C                                                                Dr. $144000

    To Common Stock (4800 shares × 10)                                   48000

    To Paid in capital  A/C (4800 shares × 20)                             96000

(Being issue of common stock recorded)

Treasury Stock A/C (470 × 25)                       Dr. 11750

       To Cash A/C                                                            11750

(Being purchase of 470 shares recorded)

Cash A/c  (470 shares × 30)                           Dr 14100

     To Treasury Stock A/C (470 × 25)                                 11750

     To Paid in capital from treasury stock                             2350

(Being sale of treasury stock being recorded)

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The following information is reported for Kinney Corporation at the end of 2013.
nexus9112 [7]

Answer:

a. Compute the amount of retained earnings at the end of 2013.

With 621K in equip.     With 495K in equip.

                709.500 583.500

b what was its net income for 2013?

                                                  With 621K in equip.     With 495K in equip.

Net Income                                      628.500 502.500

Explanation:

                                  With 621K in equip.     With 495K in equip.

     

- Accounts Receivable $103,500  103.500  103.500  

- Supplies Inventory 40,500            40.500  40.500  

- Equipment 621,000 495,000   621.000  495.000

                              765.000         639.000

- Accounts Payable 49,500            49.500  49.500  

- Cash Common Stock 6,000       6.000  6.000  

- Retained Earnings ?                   709.500 583.500  

                                                  765.000 639.000  

Retainend earnings    

Begining                                             135000 135000

Cas Dividens                                      -54000 -54000

   

Retained earnings                             709.500 583.500

Net Income                                      628.500 502.500

4 0
3 years ago
Decide whether the law should be interpreted to forbid motorcycles, bicycles, children's pedal cars, and battery-powered remote-
PilotLPTM [1.2K]

Answer:

1 motorcycles should be forbidden

2 bicycles should not be forbidden

3 children's pedal cars, and battery-powered remote-control cars should not be forbidden from pathways

Explanation:

1. motorcycle: these emit gases into the air that are not fit for the environment. apart from causing pollution, they are a source of noise pollution and they could cause accidents in the parks. therefore they should be banned.

2. bicycles: bicycles are manually powered, they should not be banned in the park because they are not a source of noise pollution and neither do they pollute the environment. riding a bicycle should be encouraged as it is a good way of keeping the body fit

3. children's pedal cars, and battery-powered remote-control cars: they should not be restricted because a recreational park is the best place for children to use them. they do not bring about harms to the environment or to people.

3 0
4 years ago
. Identify the problem-solving techniques used by TCL Motivate your answer by quoting from the scenario above​
Volgvan

Answer:

At its core, problem solving is a methodical four-step process. You may even recall these steps from when you were first introduced to the Scientific Method.

First, you must define the problem. What is its cause? What are the signs there's a problem at all?

Next, you identify various options for solutions. What are some good ideas to solve this?

Then, evaluate your options and choose from among them. What is the best option to solve the problem? What's the easiest option? How should you prioritize?

Finally, implement the chosen solution. Does it solve the problem? Is there another option you need to try?

Explanation:

Creative Problem Solving Techniques

Separate ideation from evaluation. When you brainstorm creative ideas, have a separate time for listing it all down. Focus on generating lots of ideas. Don't prioritize or evaluate them until everything is captured.

Judging will shut it down. Nothing stops the flow of creative ideas faster than judging them on the spot. Wait until the brainstorming is over before you evaluate.

Restate problems as questions. It's easier to entice a group into thinking of creative ideas when challenges are stated as open-ended questions.

Use "Yes and" to expand ideas. Here's one of the basic tenets of improv comedy. It's way too easy to shut down and negate ideas by using the word "but." (i.e. "But I think this is better...") Avoid this at all costs. Instead, expand on what was previously introduced by saying "Yes, and..." to keep ideas flowing and evolving.

7 0
3 years ago
Sarah grows rosebushes that she decided to sell online. She ships them using an airline. If a rosebush dies, to whom is the carr
Tpy6a [65]

If the rosebush dies while in transit, the carrier will be liable to Sarah, the principal.

<h3>Who is the carrier liable to?</h3>
  • The carrier will be liable to the person that it engaged in a business transaction to ship goods to another person.

In other words, the carrier will be liable to Sarah because it was Sarah that they got into business with. Sarah will then be liable to the buyer for the death of the rosebush.

In conclusion, option B is correct.

Find out more on liability at brainly.com/question/24777053.

7 0
3 years ago
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NeX [460]

Answer:

Feminists

Explanation:

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8 0
3 years ago
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