User Account

All Pages

What The journal entry will include a

Assignment Help Financial Accounting
Reference no: EM132883174

Problem 1: Fleming Corporation sells 800 shares of its $5 par value common stock for $21 a share. The journal entry will involve a

a. debit to the Cash account for $16,800.

b. debit to the Paid-In Capital in Excess of Par-Common account for $12,800.

c. debit to the Paid-In Capital in Excess of Par-Common account for $4,000.

d. credit to the Paid-In Capital in Excess of Par-Common account for $4,000.

Problem 2: Washington Financial Corporation reacquires 10,000 shares of its $5 par common stock for $9 per share. The journal entry will include a

a. debit to the Common Stock account for $90,000.

b. credit to the Common Stock account for $90,000.

c. credit to the Paid-In Capital in Excess of Par-Common account for $40,000.

d. debit to the Treasury Stock account for $90,000

Reference no: EM132883174

Questions Cloud

Find how to make bank reconciliation statement for august : The balance recorded in the company's cash book is a credit balance. How to make a bank reconciliation statement for 31st August 2017 for this company?
Differences between job design and job analysis : Explain the differences between Job Design and Job Analysis. Explain the fundamental importance of Job Design.
Calculate the yield using a geometric average : Interest rates on 4-year Treasury securities are currently 6.2%, while 6-year Treasury securities yield 7.45%. Calculate yield using a geometric average
Ethnic dimensions of philippine literary history : Study the literary map below. Note how our geographic, linguistic, and ethnic dimensions of Philippine literary history from pre-colonial to the contemporary t
What The journal entry will include a : Washington Financial Corporation reacquires 10,000 shares of its $5 par common stock for $9 per share. The journal entry will include a
Reflecting on the appreciative inquiry change management : Q1. Reflecting on the Appreciative Inquiry Change Management Method, please list and describe the Four stages of Appreciative Inquiry Change Management Method.
Management versus leadership constructs : When dealing with performing work, how is this implemented differently within the management versus leadership constructs?
What is the maximum amount the firm should spend : What is the maximum amount the firm should spend to reduce the cost of problems in that country by 85%
What unique benefits do hospitality organizations : What unique benefits do hospitality organizations offer their employees?

Reviews

Write a Review

Financial Accounting Questions & Answers

  What is the percentage increase in cost of goods sold

Assume the following cost of goods sold data for a company: 2018 $ 1412000 2017 $ 1221000 2016 $ 1021000 If 2016 is the base year, what is the percentage increase in cost of goods sold from 2016 to 2018?

  How can this information allow to explain when income

Agricultural commodities are known to have a price-inelastic demand and to be necessities. How can this information allow us to explain when the income of farmers falls (a) after a good harvest, (b) In relation to the incomes in other sectors of ..

  At his death dr heinz doofenshmirtz held various patents

at his death dr. heinz doofenshmirtz held various patents for evil inventions. these patents were valued at 400000

  Explain what is the yield to maturity on the bond

$100 face value zero coupon bond. A. If the yield 14%, this is the value of the bond? B. If the Price quote is 76, what is the yield to maturity on this bond?

  What is the firm cost of capital for hayeraft inc

Hayeraft Inc. common stock is 0.8 and the expected market risk premium is 10%. If the Treasury bill rate is 6%, what is the firm's cost of capital?

  Describe the accounting principle

Describe the accounting principle.Daniel Wright has over ten years experience in accounting at the managerial level. John Banks is a shareholder in ABC Ltd.

  Calculating the accounting rate of return

Carmel Corporation is considering the purchase of a machine costing $55,000 with a 8-year useful life and no salvage value. Carmel uses straight-line depreciation and assumes that the annual cash inflow from the machine will be received uniformly thr..

  Calculate profit per discharge for big green medical center

Calculate profit per discharge for Big Green Medical Center. Inpatient expense per discharge = 3927. Inpatient revenue per discharge = 5754

  Create a depreciation schedule for the machine

Prepare a depreciation schedule for the machine for each of the accounting years the machine will be in use, i.e. years 2020, 2021, 2022, 2023, and 2024.

  How much is variable overhead on the flexible budget

Wissota Co. applies overhead based on direct labor hours. The variable overhead standard is 4 hours at $6 per hour. During February, Wissota Co. spent $56,700 for variable overhead. 9,150 labor hours were used to produce 2,400 units. How much is vari..

  What is the equivalent single replacement payment two years

Scheduled payments of ?$242?, What is the equivalent single replacement payment two years from now if interest is 7.7% compounded annually?

  What appears to drive the operating cash flows of yahoo

What appears to drive the operating cash flows of Yahoo! Yahoo! Engages in purchases and sales of marketable securities. Why do you believe Yahoo! pursue

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd