Indicate how each event affects the elements of financial statements. Use the following letters to record your answer in the box shown below each element. You do not need to enter dollar amounts. (Note that "Not Affected" means that the event does not affect that element of the financial statements or the event causes an increase in that element that is offset by a decrease in the same element.)Increase = IDecrease = DNot Affected = NAWheaton Company reissued 100 shares of treasury stock, which had been purchased by Wheaton at $18 per share. The treasury shares were reissued at a price of $20 per share.AssetsLiabilitiesStk. EquityRevenuesExpensesNetStmt. of ?IncomeCash Flows???????
What will be an ideal response?
(I) (NA) (I) (NA) (NA) (NA) (I)
When treasury stock is reissued at a price greater than its cost, assets (cash) increase and stockholders' equity increases (treasury stock decreases by the amount of the original cost and paid-in capital in excess of cost of treasury stock increases for the difference). It is reported as a cash inflow in the financing activities section of the statement of cash flows.
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David was part of a formal mentoring program and was mentored by Angela. The mentoring sessions were conducted over a period of six weeks to improve David's communication and interpersonal skills in the workplace. The sessions, however, were unsuccessful. Which scenario, if true, would most likely have caused the failure of the mentoring sessions?
A. David's participation was involuntary, and he had little understanding of the details of the program. B. Angela is a senior employee and has more experience than David. C. David failed to treat the mentoring sessions as therapy. D. David is a new employee, whereas Angela has been working with the firm for many years. E. David and Angela did not have an informal relationship before the formal mentoring program began.
When a substantial number of people are misled by a series of commercials, it is deemed to be deceptive or misleading
Indicate whether the statement is true or false
Which statement concerning retailing is correct?
a. Retailing activities cannot be performed by wholesalers. b. It is the last stage in the distribution process. c. All retail activities are store-based. d. A lawyer purchasing stationery for use in his/her office is an example of retailing.
Depending on the situation, a thank-you message can be handwritten, printed on letterhead, or sent electronically
Indicate whether the statement is true or false