Business, 19.06.2020 12:57 AleOfficial101

On February 1, 2018, Cue Company acquired 2,400 shares of its $1 par value stock for $43 per share and held these shares in treasury. On April 10, 2019, Cue resold all the treasury shares for $46 per share. Which of the following entries would be recorded when Cue Company resells the shares of treasury stock? Cash 117,600
Common Stock 2,800
Additional paid-in capital 114,800
Cash 117,600
Treasury Stock 109,200
Additional paid-in capital 8,400
Cash 117,600
Treasury Stock 109,200
Gain on sale of treasury stock 8,400
Cash 117,600
Treasury Stock 109,200
Retained earnings 8,400

Answers: 3

Show answers

Another question on Business

Business, 21.06.2019 19:20

The following selected amounts are reported on the year-end unadjusted trial balance report for a company that uses the percent of sales method to determine its bad debts expense. accounts receivable $ 435,000 debit allowance for doubtful accounts 1,250 debit net sales 2,100,000 credit all sales are made on credit. based on past experience, the company estimates 1.0% of credit sales to be uncollectible. what adjusting entry should the company make at the end of the current year to record its estimated bad debts expense

Answers: 2

Answer

Business, 22.06.2019 08:40

Which of the following is not a characteristic of enterprise applications that cause challenges in implementation? a. they introduce "switching costs," making the firm dependent on the vendor. b. they cause integration difficulties as every vendor uses different data and processes. c. they are complex and time consuming to implement. d. they support "best practices" for each business process and function. e. they require sweeping changes to business processes to work with the software.

Answers: 1

Answer

Business, 22.06.2019 11:20

Lusk corporation produces and sells 14,300 units of product x each month. the selling price of product x is $25 per unit, and variable expenses are $19 per unit. a study has been made concerning whether product x should be discontinued. the study shows that $72,000 of the $102,000 in monthly fixed expenses charged to product x would not be avoidable even if the product was discontinued. if product x is discontinued, the annual financial advantage (disadvantage) for the company of eliminating this product should be:

Answers: 1

Answer

Business, 22.06.2019 12:30

On june 1, 2017, blossom company was started with an initial investment in the company of $22,360 cash. here are the assets, liabilities, and common stock of the company at june 30, 2017, and the revenues and expenses for the month of june, its first month of operations: cash $4,960 notes payable $12,720 accounts receivable 4,340 accounts payable 840 service revenue 7,860 supplies expense 1,100 supplies 2,300 maintenance and repairs expense 700 advertising expense 400 utilities expense 200 equipment 26,360 salaries and wages expense 1,760 common stock 22,360 in june, the company issued no additional stock but paid dividends of $1,660. prepare an income statement for the month of june.

Answers: 3

Answer

You know the right answer?

On February 1, 2018, Cue Company acquired 2,400 shares of its $1 par value stock for $43 per share a...

Questions