A company purchases 300 shares of its $100 par value common stock at $110 per share. It then reissues 50 shares at $114 per share. The entry upon reissue of the stock would be:
a. Cash 5,700
Treasury Stock-Common 5,500
Paid-in Capital, Treasury Stock 200
b. Cash 5,700
Treasury Stock-Common 5,500
Gain on Sale of Treasury Stock 200
c. Cash 5,700
Treasury Stock-Common 5,000
Retained Earnings 700
d. Cash 5,700
Treasury Stock-Common 5,700
A
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The basic cash budget format is: Total cash available - Total cash disbursed = Surplus or shortage of cash +/- Effects of financing = Ending cash.
Answer the following statement true (T) or false (F)
Laney is a resident of Maine. Delacorte is a Canadian. They dispute the ownership of Petite Isle, an island in North Rapids River on the border between Canada and the United States. The diversity of the parties' citizenship could serve as a basis for
a. federal jurisdiction. b. general jurisdiction. c. limited jurisdiction. d. universal jurisdiction.
The annual Federal Unemployment Tax Return is:
A. Form W-4. B. Form 104. C. Form W-2. D. Form 1099. E. Form 940.
Unanimous consent of the partners is required for: A) confession of a judgment
B) borrowing money in a trading partnership. C) signing checks. D) None of the above