Answer:
The transaction if California Surf reissues the 100 shares of treasury stock at $22 per share is as followed:
Dr Cash 2,200
Cr Treasury Stock 2,000
Cr Additional Paid-in capital ( Treasury stock) 200
Explanation:
The total cash receipt from the reissue is : Total shares reissued x Price per share at reissue = 100 x 22 = $2,200;
The Treasury Stock account will be decreased ( Credit) by 2,000 calculated as Total share reissued x repurchased price = 100 x 20 = $2,000;
The Additional Paid-in capital will be credit in case reissued price is higher than repurchased price or be debited when reissued price is lower than repurchased price. The absolute amount of credit/debit will be decided as Total share reissued x Difference between reissued price and repurchased price. In this case, Additional Paid-in capital is credited ( increased) by the amount of 100 x (22 - 20) = $200.
Answer:
Explanation:
Which statement is TRUE regarding the actions that the agent may take when giving a response to these customers?
The agent may give advice to the couple about the suitability of investing in either mutual funds or certificates of deposit
Answer: Job sharing
Explanation:
Job sharing is a method of dividing a full time job into two parts time jobs that can be performed in shifts between the two individuals, so that when one person is working the other is resting and vice versa. John and Tom wants to convert their tedious jobs to a single job that can be shared between themselves.
Answer:
Total cash collection= $282,520
Explanation:
Giving the following information:
Sales May= 400 units
Sales June= 400*1.03= 412 units
Selling price= $700
30% of Zhang's sales are for cash.
The remaining 70% are credit sales; these customers pay in the month following the sale.
<u>To calculate the cash receipts, we need to use the following structure:</u>
Cash collection June:
Sales in Cash June= (412*700)*0.3= 86,520
Sales in Account from May= (400*700)*0.7= 196,000
Total cash collection= $282,520