User Account

All Pages

What accounts be affected by the sale of the treasury stock

Assignment Help Accounting Basics
Reference no: EM132724831

Question - Treasury Stock Transactions

Sun Dance Gardens Inc. develops and produces spraying equipment for lawn maintenance and industrial uses. On June 3 of the current year, Sun Dance Gardens Inc. reacquired 9,800 shares of its common stock at $34 per share.

a. What is the balance of Treasury Stock on December 31 of the current year?

b. How will the balance in Treasury Stock be reported on the balance sheet?

an increase in an asset

a decrease in a liability

an increase in stock issued

a decrease in total stockholders' equity

c. Assume that Sun Dance Gardens sold 6,200 shares of its treasury stock at $37 on November 2. What accounts would be affected by the sale of the treasury stock?

Reference no: EM132724831

Questions Cloud

Financial discussions about patient care issues : How well are you now prepared to participate in financial discussions about patient care issues?
Compute what is mary beth basis residence : Find What is Mary Beth's basis residence? She also gave the real estate agent a $100 gift certificate in appreciation for his hard work.
What is the adjusting entry for december : A physical count of the supplies inventory shows that $90 of supplies remain. What is the adjusting entry for December 31
What is the percentage change in the price of bond sam : What is the percentage change in the price of Bond Sam? What would the percentage change in the price of Bond Sam be then?
What accounts be affected by the sale of the treasury stock : Assume that Sun Dance Gardens sold 6,200 shares of its treasury stock at $37 on November 2. What accounts would be affected by the sale of the treasury stock
Foundations of earth sciences : Identify five different materials that you encounter or use on a daily basis, and identify a mineral that is mined to supply each of those materials.
Find what total social security tax : Find what Total Social Security tax. Alfred Morneau earned gross pay of $760. Each period he makes a 401(k) contribution of 3% of gross pay
What are the budgeted earnings for next quarter : Skaters, Inc. plans to sell 90,000 skateboards next quarter at a price of $36 per unit. What are the budgeted earnings for next quarter
Calculate cost of new stock using dividend growth approach : The stock of Matrix Computing sells for $65, and last year's dividend was $2.53. Calculate cost of new stock using dividend growth approach

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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