Business, 22.10.2019 21:50 tannerbc16

The shareholders’ equity section of the balance sheet of tnl systems inc. included the following accounts at december 31, 2017: shareholders' equity ($ in millions) common stock, 320 million shares at $1 par $ 320 paid-in capital—excess of par 1,920 paid-in capital—share repurchase 1 retained earnings 2,200 required: 1. during 2018, tnl systems reacquired shares of its common stock and later sold shares in two separate transactions. prepare the entries for both the purchase and subsequent resale of the shares assuming the shares are (a) retired and (b) viewed as treasury stock. on february 5, 2018, tnl systems purchased 6 million shares at $10 per share. on july 9, 2018, the corporation sold 2 million shares at $12 per share. on november 14, 2020, the corporation sold 2 million shares at $7 per share. 2. prepare the shareholders’ equity section of tnl systems’ balance sheet at december 31, 2020, comparing the two approaches. assume all net income earned in 2018–2020 was distributed to shareholders as cash dividends.

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 04:10

You are head of the schwartz family endowment for the arts. you have decided to fund an arts school in the san francisco bay area in perpetuity. every 5 years, you will give the school $ 1 comma 000 comma 000. the first payment will occur 5 years from today. if the interest rate is 5.9 % per year, what is the present value of your gift?

Answers: 1

Answer

Business, 22.06.2019 07:40

Xyz corporation has provided the following data concerning manufacturing overhead for july: actual manufacturing overhead incurred $ 69,000 manufacturing overhead applied to work in process $ 79,000 the company's cost of goods sold was $243,000 prior to closing out its manufacturing overhead account. the company closes out its manufacturing overhead account to cost of goods sold. which of the following statements is true? multiple choice manufacturing overhead was overapplied by $10,000; cost of goods sold after closing out the manufacturing overhead account is $253,000 manufacturing overhead was underapplied by $10,000; cost of goods sold after closing out the manufacturing overhead account is $233,000 manufacturing overhead was underapplied by $10,000; cost of goods sold after closing out the manufacturing overhead account is $253,000 manufacturing overhead was overapplied by $10,000; cost of goods sold after closing out the manufacturing overhead account is $233,000

Answers: 1

Answer

Business, 22.06.2019 11:00

Acoase solution to a problem of externality ensures that a socially efficient outcome is to

Answers: 2

Answer

Business, 22.06.2019 15:30

University hero is considering expanding operations beyond its healthy sandwiches. jim axelrod, vice president of marketing, would like to add a line of smoothies with a similar health emphasis. each smoothie would include two free health supplements such as vitamins, antioxidants, and protein. jim believes smoothie sales should fill the slow mid-afternoon period. adding the line of smoothies would require purchasing additional freezer space, machinery, and equipment. jim provides the following projections of net sales, net income, and average total assets in support of his proposal. sandwichesonly sandwiches and smoothies net sales $ 750,000 $ 1,350,000 net income 120,000 210,000 average total assets 350,000 750,000 return on assetschoose numerator ÷ choose denominator = return on assets÷ = return on assets÷ = profit margin÷ = profit margin÷ = asset turnover÷ = asset turnover÷ = times

Answers: 2

Answer

You know the right answer?

The shareholders’ equity section of the balance sheet of tnl systems inc. included the following acc...

Questions