Previously acquired five thousand shares of treasury stock

Assignment Help Financial Accounting

Reference no: EM13755548

Delta Services had previously acquired five thousand shares of treasury stock at $14 per share. It now sells them at $21 per share. The entry to record this transaction will include a

a. credit to Treasury Stock for $100,000.

b. debit to Paid-In Capital from Treasury Stock for $35,000.

c. debit to Treasury Stock for $70,000.

d. credit to Paid-In Capital from Treasury Stock for $35,000.

Reference no: EM13755548

Questions Cloud

Bass pro shops is a leading retailer of outdoor gear : Bass Pro Shops is a leading retailer of outdoor gear with retail locations across the United States. What makes a Bass Pro Shop different from other sporting and outdoor goods retail stores? What are their competitors doing differently or the same? W..

Profit sharing plan : D.J. Wright has been selected as the Trustee of the Tucker Co. profit sharing plan. Describe his responsibilities for:

Qualified plan meets minimum coverage rules : What two tests apply in determining whether a Qualified Plan meets minimum coverage rules? Be very specific.

Included in the journal entry to record this transaction : Delta Corporation pays $500,000 to acquire 40% of the equity securities of Wiley Technologies on May 5, 2015. Which of the following will be included in the journal entry to record this transaction?

Previously acquired five thousand shares of treasury stock : Delta Services had previously acquired five thousand shares of treasury stock at $14 per share. It now sells them at $21 per share. The entry to record this transaction will include a

When the transaction is recorded in a journal entry : Maurice Financial Services invested $15,000 to acquire 3,750 shares of Delta Investments on March 15, 2012. This investment represents less than 20% of the investee's voting stock. On May 7, 2016, Maurice Financial Services sells 1,750 shares for $12..

Prepare the necessary journal entries for evergreen : Evergreen Company sells lawn and garden products to wholesalers. The company's fiscal year-end is December 31. During 2016, the following transactions related to receivables occurred: Prepare the necessary journal entries for Evergreen for each of th..

In computing the taxable amount of social security benefits : On January 1, 2014, Ron pays $92,550 for corporate bonds that have a $100,000 face value. The bonds were originally issued 10 years earlier for $94,660. Prior to January 1, 2014, the previous owner had included $3,100 of original issue discount (OID)..

Organization is seeking a marketing strategy : 1. Imagine that your organization is seeking a marketing strategy to promote the development and implementation of a well-baby program. Create questions that will address the "Four Ps" of marketing, namely, product, place, price, and promotion.

User Account

All Pages