FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

on jan 21 of year 1, corinne company reissued 400 shares of treasury stock for $10 per share. the original cost of this treasury stock

on jan 21 of year 1, corinne company reissued 400 shares of treasury stock for $10 per share. the original cost of this treasury stock had been $15 per share. Corinne uses the cost method of accounting for treasury stock. Corinne company has never before purchased no reissued shares of treasury stock. the par value of the stock is $1 per share. what journal entry will be used to record this

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Accounting

Intermediate Accounting

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Nicola M. Young, Irene M. Wiecek, Bruce J. McConomy

10th Canadian Edition Volume 2

1118300858, 978-1118300855

More Books

Students also viewed these Accounting questions

Question

A. Discuss the following conceptual model/framework of Orem's Self-Care Theory CONDITIONING FACTORS (12 MARKS) Orem's Self-Care Theory Conceptual Framework SELF-CARE AGENCY SELF-CARE DEFICIT NURSING...

Answered: 1 week ago

Question

★★★★★
The work functions for sodium, cesium, copper, and iron are 2.3, 2.1, 4.7, and 4.5 eV, respectively. Which of these metals will not emit electrons when visible light shines on it?

Answered: 1 week ago

Question

★★★★★
l Evaluate different capital structure options available to a business.

Answered: 1 week ago

Question

★★★★★
Discuss the special considerations for conducting oral history, including biographical, autoethnographic, and autobiographical research.

Answered: 1 week ago

Question

★★★★★
The eight general audit procedures produce evidence about the principal management assertions in financial statements. However, some procedures are useful for producing evidence about certain...

Answered: 1 week ago

Question

★★★★★
Sue plans to purchase a forward contract on 90-day bank bills, to be delivered at the end of 90 days, with face value of $100,000. The current spot rate for 180-day bank bills is 2.62% p.a. (simple...

Answered: 1 week ago

Question

★★★★★
Outreach Explorations and Summit Adventures are the only two vacation adventure companies operating in a national park. The adventure experiences they offer are very similar and they compete using...

Answered: 1 week ago

Question

★★★★★
Assume that your domain (u0123456.corp) has 200 User accounts and all Users have laptops. Users are Salespeople that are out of the office most days. Within one month all Users will be on the network...

Answered: 1 week ago

Question

★★★★★
The performance of 20 students on their final test on statistics in 1992 and for the second class of 20 students in 2017 is shown in the columns below. Class of 1992 Class of 2017 80 100 91 99 91 94...

Answered: 1 week ago

Question

★★★★★
A project manager assigns tasks to a team that is not prepared or skilled in the languages required to implement the solution. The team is not able to complete the deliverables adequately. What type...

Answered: 1 week ago

Question

★★★★★
2.) Suppose that X~ NB(4, 0.3), and Y = (X-3) 1/2. Determine the PMF of Y, (y). 3.) Suppose that X~ Exp(1/4) and Y = x - 2. Determine the PDF of Y, fy(y).

Answered: 1 week ago

Question

★★★★★
Let's consider that we have trained a word2vec model from scratch with a vocabulary size of 20,000, having 500 neurons in the hidden layer. What will be the size of the word embedding of each word?...

Answered: 1 week ago

Question

★★★★★
From the following Information for the month ending October, 2013, prepare Process Cost accounts for Process III. Use First-in-fist-out (FIFO) method to value equivalent production. Direct materials...

Answered: 1 week ago

Question

★★★★★
Assume the corporate taxation rate is 24%. Required: (a) Based on MFRS 133: Earnings per share (EPS), compute the related EPS for Wisdom Berhad and Luck Berhad for financial year ends 2021 and 2022,...

Answered: 1 week ago

Question

★★★★★
It is possible to investigate the thermo chemical properties of hydrocarbons with molecular modeling methods. (a) Use electronic structure software to predict cHo values for the alkanes methane...

Answered: 1 week ago

Question

★★★★★
How did we manage the project implementation?

Answered: 1 week ago

Question

★★★★★
How did we design the project information?

Answered: 1 week ago

Question

★★★★★
Which ones were not weighted enough and not sufficiently focused on?

Answered: 1 week ago

Previous Question Next Question