Business, 06.05.2020 04:25 josediaz1124
During the year, the following transactions occurred: Jan. 10 Issued 35,000 shares of common stock for $18 cash per share. 23 Purchased 10,000 shares of common stock as treasury stock at $19 per share. Mar. 14 Sold one-half of the treasury shares acquired January 23 for $21 per share. July 15 Issued 3,500 shares of preferred stock in exchange for equipment with a fair market value of $128,000. Nov. 15 Sold 1,000 of the treasury shares acquired January 23 for $24 per share. Dec. 31 Closed the net income of $59,000 to the Retained Earnings account.
Required a. Set up T-accounts for the stockholders' equity accounts as of the beginning of the year and enter the January 1 balances Prepare journal entries to record the foregoing transactions and post to T-accounts (set up any additional T-accounts needed). Do not prepare the journal entry for the Dec. 31 transaction, but post the appropriate amount to the Retained Earnings T-account. Determine the ending balances for the stockholders' equity accounts b. c. Prepare the December 31 stockholders' equity section of the balance sheet.
Answers: 2
Business, 22.06.2019 13:20
In order to be thoughtful about the implementation of security policies and controls, leaders must balance the need to reduce with the impact to the business operations. doing so could mean phasing security controls in over time or be as simple as aligning security implementation with the business’s training events.
Answers: 3
Business, 22.06.2019 16:10
Omnidata uses the annualized income method to determine its quarterly federal income tax payments. it had $100,000, $50,000, and $90,000 of taxable income for the first, second, and third quarters, respectively ($240,000 in total through the first three quarters). what is omnidata's annual estimated taxable income for purposes of calculating the third quarter estimated payment?
Answers: 1
Business, 22.06.2019 20:20
Fractional reserve banking which of the following statements about fractional reserve banking are correct? check all that apply. fractional reserve banking allows banks to create money through the lending process. fractional reserve banking does not allow banks to hold excess reserves. fractional reserve banking allows banks to create additional wealth by lending some reserves. fractional reserve banking relies on everyone not withdrawing their money at the same time.
Answers: 2
Business, 23.06.2019 00:40
The recognition of which of the following expenses exemplifies the application of matching expenses with the revenues they produced? multiple choice(a) cost of goods sold. (b) advertising.(c) president's salary.(d) research and development.
Answers: 3
During the year, the following transactions occurred: Jan. 10 Issued 35,000 shares of common stock f...
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