A corporation purchases 4,000 shares of its $10 par common stock for $16 per share. The debit part of the journal entry for this transaction would be to
a. Cash, $64,000.
b. Common Stock, $40,000.
c. Common Treasury Stock, $40,000.
d. Common Treasury Stock, $64,000.
d
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On November 1, 2016, the Cranberry Construction Company declared a property dividend payable in the form of bonds held for long-term investment purposes. The bonds will be distributed to the common stockholders on December 15, 2016. The bonds to be distributed to the common stockholders originally cost Cranberry $210,000. Fair values of the bonds on various dates are as follows: ? December 31,
2015 $220,000 November 1, 2016 235,000 December 15, 2016 225,000 Which one of the following amounts should be used to record the appropriate credit to Property Dividends Payable? A) $210,000 B) $220,000 C) $235,000 D) $230,000
What interesting observation does Wood (1994) make about the effects of trade with developing countries on equality?
a. That trade with developing countries ensures the growth in wealth of the industrialized country as it makes wage costs cheaper and labour more efficient b. That trade with developing countries actually creates inequality in the industrialized country by reducing demand for unskilled labour by more than 20% c. That there is no rhyme or reason as to the effects of globalization on wealth and equality in either the developed or developing countries d. That globalization always benefits the industrialized country and almost never the developing countries
After a witness is sworn in, he or she is cross-examined by the plaintiff's attorney
Indicate whether the statement is true or false
Which of the following is NOT true about the durability of money?
a. The average dollar bill is in circulation for three years. b. Coins make the paper money more divisible. c. Whatever is used cannot act effectively as a store of value if it does not last. d. Paper money maximizes portability. e. Paper money and coins are very durable; they last a long time.