User Account

All Pages

What the entry to record the transaction would be

Assignment Help Financial Accounting
Reference no: EM132917644

Problem 1: Apricot Inc. is reacquiring 25,000 common shares. The price is $4.25/share and the average price is $4.00. Assuming that there is a contributed surplus balance of 5,000 the entry to record the transaction would be?

A. debit to common shares, Contributed surplus and retained earnings and credit to cash
B. debit to common shares and contributed surplus and credit to cash
C. debit to common shares and retained earnings and credit to cash
D. debit to common shares and credit to cash

Reference no: EM132917644

Questions Cloud

Relationship between the role and professional practice : Describes the role of the educator and the relationship between the role and professional practice. Choose either of the following audiences
Four main categories of biochemical molecules : Name and describe the four main categories of biochemical molecules
What is cost of goods sold as determined by the fifo method : Given the following data, Beginning inventory 280 units at $7 per unit. What is cost of goods sold as determined by the FIFO method
Difference between hypermarkets and supermarkets : Briefly explain positioning with an example. What is the difference between Hypermarkets and Supermarkets.
What the entry to record the transaction would be : The price is $4.25/share and the average price is $4.00. Assuming that there is a contributed surplus balance of 5,000 entry to record the transaction would be?
Relevance of the time objectivity factor : 1. What are the score card point that render the relevance of the time objectivity factor in any management body in setting and planning goals?
Create cash budget for January and February : Sales of marketable securities in January are expected to realize $12,012 in cash. Create cash budget for January and February
Discuss the pros and cons of each method of valuation : Discuss the pros and cons of each method of valuation. Financial accounting utilizing U.S. standards has primarily been based on historical cost.
Overview of the team effectiveness model : Define team effectiveness and briefly reflect on whether your team was effective according to this definition.two

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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