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Homework Answers
1.) Purchase of own share :- (250m x 140 = 35,000m)
DR Treasury stock $35,000m
CR Cash $35,000m
2.) Resells treasury stock :- (100 x 145 = 14,500)
DR Cash $14,500
CR Treasury stock $14,000
CR PIC - Treasury stock $500
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Question 6 2.5 pts Microsoft purchases 250m of its own shares for $140/share. The journal entry...
Question 6 2.5 pts Microsoft purchases 250m of its own shares for $140/share. The journal entry to record the purchase is a: DR [Select] CR [Select] If Microsoft resells 100 shares of the Treasury stock for $145/share the journal to record the sale is: DR [Select] CR [Select] CR [Select ] [Select] Treasury Stock $500 PIC-Treasury Stock $14,000 Treasury Stock $14,500 PIC-Treasury Stock $500
The first image is the original question, the rest are the answer choices for each box....
The first image is the original question, the rest are the
answer choices for each box.
Question 2 1 pts Shopify sold 7.7m shares of no par common stock during its IPO for $28/share. The journal entry to record the sale is: DR [Select] CR [Select] Question 2 1 pts Shopify sold 7.7m shares of no par common stock during its IPO for $28/share. The journal entry to record the sale is: DA [Select ] Common Stock $215.6m Preferred Stock...
The first image is the original question, the rest are the answer choices for each box....
The first image is the original question, the rest are the
answer choices for each box.
Question 4 1.5 pts On September 18th, 2019 Microsoft Corp. announced that its board of directors declared a quarterly dividend of $0.51 per share, reflecting a 5 cent or 11% increase over the previous quarter's dividend. The dividend is payable Dec. 12, 2019, to shareholders of record on Nov. 21, 2019. Microsoft has 7.71B shares outstanding. What is the journal entry Microsoft records on...
The first image is the original question, the rest are the answer choices for each box....
The first image is the original question, the rest are the
answer choices for each box.
Question 1 1.5 pts Apple Inc. sells 2m shares of common stock with a par value of $0.0001 for $70. The journal entry to record the sale of stock is DR [Select] D [Select] [Select] Question 1 1.5 pts Apple Inc. sells 2m shares of common stock with a par value of $0.0001 for $70. The journal entry to record the sale of stock...
The first image is the original question, the rest are the answer choices for each box....
The first image is the original question, the rest are the
answer choices for each box.
Question 5 2 pts Microsoft announced a 2 for 1 stock split. Before the split they had 5.4b shares outstanding and par value was $0.0000125 Before the split the balance in the common stock account was: $ Select] After the split shares outstanding are (in billions):Select After the split par value is: [Select] Select ] After the split the balance in the common stock...
The first image is the original question, the following images are the answer choices given for...
The first image is the original question, the following images
are the answer choices given for each box
Question 3 1 pts Apple, Inc. offers a 1 year warranty on its Apple products. In 2018 Apple estimated $3.8b in warranty claims for phones they sold in 2018. During 2019 Apple incurred $3.7b expenses to satisfy warranty claims. What journal entry does Apple record at the end of 2018? [Select] What journal entry does Apple record in 2019? [Select] Question 3...
First image is the question and the rest are the answer options Question 3 1 pts...
First image is the question and the rest are the answer
options
Question 3 1 pts If bonds with a face value of $750,000 and a stated rate of 5%, are issued at par on January 1st, the journal entry to record the issuance is: [Select] Assuming interest is paid annually on December 31st what is the journal entry to record interest payments? [Select] What is the journal entry recorded when the bonds mature? [Select] Question 3 1 pts If...
The first image is the original question, the rest are the answer choices for each box....
The first image is the original question, the rest are the
answer choices for each box.
Question 2 3 pts Determine how each activity is categorized and whether it is an inflow or outflow of cash. The sale of bonds [Select] [ Select] The purchase of a building [Select] [ Select] Cash paid for expenses (Select] [Select] Sale of equipment [Select] [ Select] Payment of Dividends [Select] - [ Select ] [ Select] - Selling products to customers for cash...
the first image is the original question, the following images are the answer choices for each...
the first image is the original question,
the following images are the answer choices for each box
Question 1 1 pts A customer purchases an airless paint sprayer at Home Depot and is charged $329 for the sprayer and $27.97 in taxes. The entry Home Depot does to record the sale is to: Debit Select Credit Select] Credit Select Question 1 1 pts A customer purchases an airless paint sprayer at Home Depot and is charged $329 for the sprayer...
Question 4 1.5 pts On September 18th, 2019 Microsoft Corp. announced that its board of directors...
Question 4 1.5 pts On September 18th, 2019 Microsoft Corp. announced that its board of directors declared a quarterly dividend of $0.51 per share, reflecting a 5 cent or 11% increase over the previous quarter's dividend. The dividend is payable Dec. 12, 2019, to shareholders of record on Nov. 21, 2019. Microsoft has 7.713 shares outstanding. What is the journal entry Microsoft records on September 18th, 2019? [Select) What is the journal entry Microsoft records on November 21, 2019? [Select]...
Question 6 2.5 pts Microsoft purchases 250m of its own shares for $140/share. The journal entry to record the purchase is a: DR [Select] CR [Select] If Microsoft resells 100 shares of the Treasury stock for $145/share the journal to record the sale is: DR [Select] CR [Select] CR [Select ] [Select] Treasury Stock $500 PIC-Treasury Stock $14,000 Treasury Stock $14,500 PIC-Treasury Stock $500
The first image is the original question, the rest are the
answer choices for each box.
Question 2 1 pts Shopify sold 7.7m shares of no par common stock during its IPO for $28/share. The journal entry to record the sale is: DR [Select] CR [Select] Question 2 1 pts Shopify sold 7.7m shares of no par common stock during its IPO for $28/share. The journal entry to record the sale is: DA [Select ] Common Stock $215.6m Preferred Stock...
The first image is the original question, the rest are the
answer choices for each box.
Question 4 1.5 pts On September 18th, 2019 Microsoft Corp. announced that its board of directors declared a quarterly dividend of $0.51 per share, reflecting a 5 cent or 11% increase over the previous quarter's dividend. The dividend is payable Dec. 12, 2019, to shareholders of record on Nov. 21, 2019. Microsoft has 7.71B shares outstanding. What is the journal entry Microsoft records on...
The first image is the original question, the rest are the
answer choices for each box.
Question 1 1.5 pts Apple Inc. sells 2m shares of common stock with a par value of $0.0001 for $70. The journal entry to record the sale of stock is DR [Select] D [Select] [Select] Question 1 1.5 pts Apple Inc. sells 2m shares of common stock with a par value of $0.0001 for $70. The journal entry to record the sale of stock...
The first image is the original question, the rest are the
answer choices for each box.
Question 5 2 pts Microsoft announced a 2 for 1 stock split. Before the split they had 5.4b shares outstanding and par value was $0.0000125 Before the split the balance in the common stock account was: $ Select] After the split shares outstanding are (in billions):Select After the split par value is: [Select] Select ] After the split the balance in the common stock...
The first image is the original question, the following images
are the answer choices given for each box
Question 3 1 pts Apple, Inc. offers a 1 year warranty on its Apple products. In 2018 Apple estimated $3.8b in warranty claims for phones they sold in 2018. During 2019 Apple incurred $3.7b expenses to satisfy warranty claims. What journal entry does Apple record at the end of 2018? [Select] What journal entry does Apple record in 2019? [Select] Question 3...
First image is the question and the rest are the answer
options
Question 3 1 pts If bonds with a face value of $750,000 and a stated rate of 5%, are issued at par on January 1st, the journal entry to record the issuance is: [Select] Assuming interest is paid annually on December 31st what is the journal entry to record interest payments? [Select] What is the journal entry recorded when the bonds mature? [Select] Question 3 1 pts If...
The first image is the original question, the rest are the
answer choices for each box.
Question 2 3 pts Determine how each activity is categorized and whether it is an inflow or outflow of cash. The sale of bonds [Select] [ Select] The purchase of a building [Select] [ Select] Cash paid for expenses (Select] [Select] Sale of equipment [Select] [ Select] Payment of Dividends [Select] - [ Select ] [ Select] - Selling products to customers for cash...
the first image is the original question,
the following images are the answer choices for each box
Question 1 1 pts A customer purchases an airless paint sprayer at Home Depot and is charged $329 for the sprayer and $27.97 in taxes. The entry Home Depot does to record the sale is to: Debit Select Credit Select] Credit Select Question 1 1 pts A customer purchases an airless paint sprayer at Home Depot and is charged $329 for the sprayer...
Question 4 1.5 pts On September 18th, 2019 Microsoft Corp. announced that its board of directors declared a quarterly dividend of $0.51 per share, reflecting a 5 cent or 11% increase over the previous quarter's dividend. The dividend is payable Dec. 12, 2019, to shareholders of record on Nov. 21, 2019. Microsoft has 7.713 shares outstanding. What is the journal entry Microsoft records on September 18th, 2019? [Select) What is the journal entry Microsoft records on November 21, 2019? [Select]...
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