On August 1 . 2014, B. Amherst Company reacquired 4,000 shares of its $15 par value common stock for $18 per share. Amherst uses the cost method to account for treasury stock. What journal entry should Amherst make to record the acquisition of treasury stock?
a. Treasury Stock ....................... 60,000
Additional Paid-In Capital ........... 12,000
Cash ............................... 72,000
b. Treasury Stock ....................... 60,000
Retained Earnings .................... 12,000
Cash ............................... 72,000
c. Retained Earnings .................... 72,000
Cash ............................... 72,000
d. Treasury Stock ....................... 72,000
Cash ............................... 72,000
D
You might also like to view...
Lita is working on her capstone movie project with other students in her assigned group. As a graduating senior, Lita is just “going through the motions” when working on this project. She rarely delves into the process of the filmmaking. Lita is experiencing ______.
A. collective rationalization B. self-censorship C. illusion of unanimity D. self-appointed mindguards
You plan to borrow $35,000 at a 7.5% annual interest rate. The terms require you to amortize the loan with 7 equal end-of-year payments. How much interest would you be paying in Year 2?
A. $1,994.49 B. $2,099.46 C. $2,209.96 D. $2,326.27 E. $2,442.59
A clear message brings about effective communication because
a. it relaxes the listener. b. it is prepared for the selective listener. c. it eliminates the need for additional information or clarification. d. it eliminates the need for nonverbal communication.
____ answer questions such as What kind?, How many?, or Which one?
A) Adjectives B) Adverbs C) Adjectives and adverbs