On December 2, Coley Corp. reacquired 1,000 shares of its $2 par value common stock for $27 each. On December 20, Coley Corp. reissued 400 shares for $15 each. Which of the following is correct regarding the journal entry for the reissued shares? a. Debit Cash $15,000.
b. Credit Treasury Stock $10,800.
c. Credit Paid in Capital - Treasury Stock $5,200.
d. Credit Treasury Stock $6,000.

b. Credit Treasury Stock $10,800.

Explanation:

The Journal entry is shown below:-

Cash Dr, $6,000 (400 × $15)

Retained Earnings Dr, $4,800

             To Treasury Stock $10,800 (400 × 27)

(Being reissued shares is recorded)

Here we debited the cash and retained earnings as it increased the cash and reduced the retained earning balance and we credited the treasury stock as it reduced the balance of treasury stock

being born in poverty would limit the people's chances, opportunities and benefits.

this happen because of several things, such as:

- poor people tend to gain less access to good education and nutrition. this mean that their chance to obtain high paying jobs would also be limited.

- poor people tend to socialize with other poor people while the rich tend to socialize with other rich people. this means that simply throguh their social circle, rich people would have more business opportunities compared to the poor people.

- rich people tend to have more capital in their disposal. this would benefit them in business since it is far easier for them to fund their business operation compared to poor people.

i'ts proportional. if the inflation rate is 12% for example, the cpi will be 12% less.

hope it ,

bioteacher101