User Account

All Pages

What long should credit

Assignment Help Accounting Basics
Reference no: EM132766893

Problem 1: Long Co. issued 100,000 shares of P10 par ordinary shares for P1,200,000. Long acquired 10,000 shares of its own stock at P15 per share. Three months later Long sold 5,000 of these shares at P19 per share. If the cost method is used to record treasury stock transactions, to record the sale of the 5,000 treasury shares, Long should credit

a. Treasury Stock for 95,000.
b. Treasury Stock for 75,000 and share premium for 20,000.
c. Treasury Stock for 75,000 and share premium for 20,000.
d. Treasury Stock for 50,000 and share premium for 45,000.

Reference no: EM132766893

Questions Cloud

What should be the balance in share premium account : Mae's share premium was P450,000. What should be the balance in her share premium account immediately after the reverse stock split is effected?
Discuss what you found surprising in the readings : Discuss challenges you as you as a service provider for aging adults would have in evaluating a person's capacity and how you may go about doing this.
Shorten the cash conversion cycle : Siren Inc. has annual sales of $75,000,000, COGS of $65,000,000, its average inventory is $20,000,000, and its average accounts receivable is $16,000,000. The f
Should the old issue be refunded : The company is in a 40% tax bracket. There is no overlap interest period. Should the old issue be refunded
What long should credit : If the cost method is used to record treasury stock transactions, to record the sale of the 5,000 treasury shares, Long should credit
What ziek total stockholders equity : The fair value of Ziek 's shares was P20 per share on May 1, 2019. As a result of this stock dividend, Ziek's total stockholders' equity
Define role in protecting person with cognitive impairment : Dementia impacts a person's capacity to make informed decisions. When we consider a person with dementia with regard to engaging in sexual or intimate situation
How much cash flow was invested in long-term : Cash flows: Del Bridger Construction had long-term assets before depre ciation of $990,560 on December 31, 2016 and $1,211,105 on December 31, 2017. How much c
Determine the total depreciation expense for the three years : Also determine the total depreciation expense for the three years by each method. Round the final answers for each year to the nearest whole dollar

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