A sale of treasury stock may result in a decrease in paid-in-capital. All decreases should be charged to the Paid-In-Capital from Sale of Treasury account
Indicate whether the statement is true or false
False
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Which of the following transactions results in an increase in expenses?
a. Payment on accounts payable b. Usage of utilities c. Repayment of principal of bank loan d. Purchase of office equipment on credit
The income statement describes revenues earned and expenses incurred along with the resulting net income or loss over a specified period of time.
Answer the following statement true (T) or false (F)
The Basketball Division of Thunder Sports Enterprises reported the following financial data for the year: Assets available for use $1,200,000 Book Value $1,500,000 Market Value Residual income $108,000 Return on investment 14% Refer to Thunder Sports Enterprises. If the manager of the Basketball Division is evaluated based on return on investment, how much would she be willing to pay for an
investment that promises to increase net segment income by $60,000? a. $ 108,000 b. $ 300,000 c. $ 428,572 d. $1,200,000
The entry to record bank credit card sales of $2,000 plus tax of $100 and bank credit card expenses on sales of $100 would include all of the following except:
a. sales credit. b. accounts payable debit. c. sales tax payable credit. d. bank credit card expense debit.