Business, 03.07.2020 22:01 kutubmia

On December 2, Coley Corp. acquired 1,800 shares of its $4 par value common stock for $23 each. On December 20, Coley Corp. resold 1,400 shares for $13 each. Which of the following is correct regarding the journal entry for the resold shares? a. Credit Additional Paid-in Capital $7,000
b. Credit Treasury Stock $20,000
c. Debit Cash $15,400
d. Credit Treasury Stock $11,000
e. None of these

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Answer from: yddlex

b. Credit Treasury Stock $20,000

Explanation:

General Journal

For the reacquisition of shares of common stock

Date Account Titles and Explanation Debit Credit

Dec 2 Treasury stock $28,000

Cash (1,400 shares * $20 each) $28,000 (To record the repurchase of shares of common shares

General Journal

For the reissue of shares treasury stock

Date Account Titles and Explanation Debit Credit

Dec 20 Cash (1,000 shares * $11 each) $11,000

Paid-in-capital in excess of par $9,000

- Treasure stock

Treasury stock $20,000

(1,000 shares * $20 per share)

(To record the reissue of treasury stock)

Conclusion: The journal entry to record the reissue of treasury stock is Credit Treasury Stock $20,000.

Answer from: Quest

$527.7.if the following was the question $527.7 is the answer.students who are trying to raise funds have an agreement with a local pizza chain. the chain has agreed to sell them pizzas at a discount, which the students can then resell to families in the local community for a profit. it is expected that of the 500 families in the community, at most 70% will buy pizza. based on a survey of their personal preferences, the students believe that they should order no more than 120 cheese pizzas, no more than 150 pepperoni pizzas, and no more than 100 vegetarian pizzas. they also want to make sure that at least 20% of the total pizzas are cheese and at least 50% of the pizzas are pepperoni. they make a profit of $1.45, $1.75, and $1.98, respectively, for each cheese, pepperoni, and vegetarian pizza they resell. how many pizzas of each type should they buy?

Answer from: Quest

Idumb sorry idk but try ur best!

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On December 2, Coley Corp. acquired 1,800 shares of its $4 par value common stock for $23 each. On D...

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