When treasury stock are purchased we pass the following entry | |||||||
Account titles & Explanations | Debit | Credit | |||||
Treasury stock | 25300 | ||||||
cash | (1100*23) | 25,300 | |||||
hence the correct option is c) | |||||||
Treasury stock-common is debited for $25,300 | |||||||
O A Tremury Stock Common is debited for $ 12.50 Retained Eamings is debed for $12,850...
Michael Company reports Total Assets of $268,000, Common Stock of $63,000, and Retained Eamings of $112,000. What are total inblities at the end of the first year? O A. $83,000 OB. $209,000 Oc. $195,000 OD. $146,000
When stock dividends are distributed O stock dividends distributable is decreased. O common shares is debited. O retained earnings is decreased. O no entry is necessary.
This Questlion: 4 pts A small stock dividend ○ A. decreases common stock. O B. has no effect on total equity O C. increases Retained Eamings. O D. tems a, b, and c are correct Click to select your answer 28 esc F2 2 3 4
Queation Completion Status O Distribution Distribution A 4 6 0 caps lock command opio control option command
Which type of account is always debited during the closing process? O Retained earnings O Dividends O Expense O Revenue Click if you would like to Show Work for this question: Open Show Work
Which of the following is an asset? Multiple Choice O Common stock Retained Earnings Notes Receivable Notes Payable
Common Stock, $5.00 par, 207,000 shares authorized, 172,000 shares issued Paid in Capital in Excess of Par-Common Retained Earnings Total Stockholders' Equity $860,000 205,000 229,000 $1.294,000 Which of the following is included in the entry to record the corporation's purchase of 40,000 shares of its common O A Retained Earnings is debited for $580,000 CIO B. Paid - In Capital from Treasury Stock Transactions is credited for $300,000 O C. Treasury Stock-Common is debited for $580,000 O D. Common Stock-$5.00...
Suppose you purchased a common stock for $12.50 per share some time ago. During the holding period, you received a dividend of $1.50 per share. The stock is currently selling for $14. Calculate dividend yield.
Land Corporation reported the following: Common Stock, $5.00 par, 208,000 shares authorized, 162,000 shares issued Paid in Capital in Excess of Par—Common Retained Earnings Total Stockholders' Equity $810,000 200,000 215,000 $1,225,000 Which of the following is included in the entry to record the corporation's purchase of 40,000 shares of its common stock for $15.50 per share? O A. Paid – In Capital from Treasury Stock Transactions is credited for $430,000. OB. Retained Earnings is debited for $620,000. OC. Common Stock-$5.00...
Why isn't PIC-in excess of Par debited by 8 instead of 6 and why is Retained Earnings debited at all? The balance sheet of Chunn Industries included the following shareholders' equity section at December 31, 2018 ($ in millions): Common stock ($1 par value, authorized 100M shares, issued and outstanding 90M shares) $ 90 Paid-in capital-excess of par 540 Retained earnings 280 Total shareholders' equity $910 On January 5, 2019, Chunn purchased and retired 1 million shares for $9 million....