A corporation originally issued $13 par value common stock for $15 per share. Which of the following is included in the entry to record the purchase of 300 shares of treasury stock for $11 per share?
A) Treasury Stock—Common is debited for $3300.
B) Treasury Stock—Common is credited for $45.
C) Retained Earnings is debited for $1650.
D) Treasury Stock—Common is debited for $1650.
A) Treasury Stock—Common is debited for $3300.
Explanation: Total amount debited to Treasury Stock—Common = No. of shares × purchase price per share = 300 x $11 = $3300
You might also like to view...
It is recommended that your objective should reflect your goals, even if it doesn't match the job description, as shown in the figure above.
Answer the following statement true (T) or false (F)
Off-price retailers differ from other discount stores in the merchandise they carry. While most other discounters offer a predictable assortment of merchandise, the styles and brands offered at off-price retailers change frequently because they buy only what is currently available at a good deal.
Answer the following statement true (T) or false (F)
James Champy and Michael Hammer advocate an approach to structure and process that begins with ________.
A. an employee involvement perspective B. behavioral considerations C. a clear, blank sheet of paper D. All of the above.
Which of the following statements are TRUE statements about variable annuities?
I Investors get an interest rate guarantee II The portfolio funding the separate account is professionally managed III The portfolio is invested in other management company shares IV Dividends and capital gains must be reinvested until annuitization occurs @ I and II only @ III and IV only @ II, Ill, IV @ I, II, III, IV