Johnston, Inc., engaged in the following transactions involving treasury stock.



Feb. 10 Purchased for cash 17,000 shares of treasury stock at a price of $31 per share.
June 4 Reissued 6,000 shares of treasury stock at a price of $34 per share.
Dec. 22 Reissued 4,000 shares of treasury stock at a price of $22 per share.
a. Prepare general journal entries to record these transactions.

Answers

Answer 1

Answer and Explanation:

The journal entries are shown below

On Feb 10

Treasury stock Dr (17,000 shares × $31) $527,000

         To cash $527,000

(Being the treasury stock purchased for cash is recorded)

On June 4

Cash (6,000 shares × $34) $204,000

        To Treasury stock (6,000 shares × $31) $186,000

         To Additional paid in capital - Treasury stock (6,000 shares × $3) $18,000

(being the reissuance of the treasury stock is recorded)

On Dec 22

Cash (4,000 shares × $22) $88,000

Additional paid in capital - Treasury stock (4,000 shares × $9) $36,000

                To Treasury stock (4,000 shares × $31) $124,000

(being the reissuance of the treasury stock is recorded)


Related Questions

Gina is conducting a bank reconciliation. She finds that the reason why the
accounts do not balance is because of a service fee. This amount should be
OA. added to the bank balance
B. added to the book balance
OC. subtracted from the bank balance
OD. subtracted from the book balance

Answers

Answer:

C. subtracted from the bank balance

Explanation:

A service fee is an amount charged by banks for services rendered. It is an income to the bank but an expense to the business. The banks deduct service fees automatically from the customer's accounts. The amounts and the date that a service fee has been charged reflects as a deduction on the customer's bank statement.

In reconciliations, the service fee should be deducted from the bank's balance. It is money that belongs to the bank and should reduce the customer's bank balance.  

Answer:

D. Subtracted from the book balance

Hope this helps :)

Tony earned a bachelor's degree at a public school. Which type of higher education institution did he attend?
A.
A 2-year college.
B.
A propriety school.
C.
A theological school.
D.
A 4-year university.

Answers

Answer:

D

Explanation:

Bachelor Degree is 4 years

Answer:

D.  

A 4-year university.

Explanation:

please help, easy multiple choice question
whoops meant to put it in art

Answers

Answer: The answer that is correct is the last one, which is shape.

I hope this helped!

the enclosed space between where lines meet is called a shape:)

In the wrong hands, which of the following pieces of personal information would present the greatest risk for identity
theft?
a. credit card number
b. date of birth
c.phone number
d. place of birth

Answers

Answer:

a

Explanation:

with a credit card number that can access you money, name, and your d.o.b

with a d.o.b they cant do anything bc a lot of ppl have the same birthday

phone number they cant do anything bc more than 1 person have the same number like if someones bill wasnt paid, they recycle the #.

place of birth a lot of ppl were born at the same hospital

In the wrong hands, the credit card number would present the greatest risk for identity theft.

What is credit card number?

A credit card number is a string of numbers that appears on the front of the card. Its purpose is to find out who owns the credit card and who owns the account. It also aids in fraud prevention.

With the credit card number, the name, and date of birth of any person can be detected. They can't accomplish anything with a date of birth because so many people share the same birthday.

The credit card number poses the biggest risk of identity theft in the wrong hands.

Therefore, option a is correct.

Learn more about the credit card, refer to:

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Identify two benefits of drawing up a business plan.

Answers

Answer:

Here are four benefits of a business plan:

You can get outside funding. To get funding from lenders or investors, you need to show a business plan. ...

You gain an understanding of your market. ...

You focus your strategies. ...

You can check the financial numbers.

Explanation:

PLEASE HURRY!!!! Thanks! ;)
How do you know when you can afford something? When you have the ———————- to pay for it!

Answers

Answer:

Umm. Money

Explanation:

Well its not bananas or ketchup is it?

24) In the U.s. economy, a few firms dominate the wireless telephone provider Industry. Whlch type of
market structure does this represent? (SSEMT36 DOK: 2)
oligopoly
B. monopoly
C. pure competitilon
D. monopolistic competitlon

Answers

Answer:

oligopoly

Explanation:

An oligopoly is a market structure comprising a few firms dominating a large market with many buyers. The few firms sell similar or differentiated products. Each of the firms commands a sizable market share and can influence the market.  Apart from the few dominating firms, there could be other small sellers with a smaller market share operating in the market. Another example of an oligopoly market is the air travel business, where a few airline companies dominate the market.

Characteristics of oligopoly market include

Barriers to entry due to heavy capital requirements and market domination by a few firms.Each firm sets its priceheavy advertising to woe clientsCollaboration among the few dominating firms

There are many costs associated with owning a car. Which of these is not something you'll need to pay for?
A
Maintenance.
B
Registration.
C
Inspection.
D
Arbitration.

Answers

The answer will be -B-

The cost is the defined amount or sum of money that is incurred in the firm from the stage of production to the stage of selling and distributing the goods and services to the market for the customers.

The correct answer is C Inspection.

Option C  Inspection is correct because it does not incur any of the expenses while owning a car. This is because the inspection is done free of cost at the service center to look after the condition of the vehicle.

Options A, B, and D are the wrong ones because they are to be paid at a certain period of time because it is the expense that we incur while owning a car.

To know more about the costs while owning a car, refer to the link below:

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In Country A, the State controls ALL the factors of production. Country A could be described as a country that is operating within a:

A. free market economic system
B. laissez-faire economic system
C. mixed economic system
D. planned economic system​

Answers

D) Planned Economic System

In a communist economic system, all factors of production are controlled by the government. The Planned economic system most similarly embodies that same economic system.

An example of a poor study environment is a place with

Answers

Answer:

A place with a lot of noise, poorly lit, and distractions

Answer:

D

Explanation:

GUYS I NEED YOUR HELP ASAP. ok so im running for school secretary and well i forgot to make an online flyer its due TOMORROW do you guys know any good online customizable flyer websites . if so lmk in the comments i will be forever grateful!!!! btw i just put a random subject

Answers

Answer:

canva is a good one

lemme know if u like it haha

i use lucidpress a lot too for most of my projects !

What is federal income tax?

The federal income tax is a significant deduction from an employee’s ______
pay.

Answers

Answer:

The federal income tax is a significant deduction from an employee’s personal

pay.

Explanation:

Nothing make sense

Answer:

I believe its Gross pay

Explanation:

gross pay is what an employee has before taxes

What do you think would be the most difficult part of being a public relations specialist?​

Answers

Answer:

Public relations specialists create and maintain a favorable public image for the organization they represent. They craft media releases and develop social media programs to shape public perception of their organization and to increase awareness of its work and goals.

Explanation:

A public relations specialist has to face difficulties like being able to maintain the image of the public figure that they have created for themselves in the eyes of the society.

Who is a public relations specialist?

A public relations specialist is an individual or an organization who looks after the creation, maintenance of the image of a public figure and looking after the affairs related thereto.

There are many difficulties that might come in this way, like behavior of such individual in the society, positive or negative actions of such affairs and ensuring that the image of such individual in the society stays.

Hence, it can be stated that a public relations specialist has to face numerous difficulties in his daily course of life.

Learn more about public relations specialist here:
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Your new health insurance has a $4,000 deductible. What does that mean?
You'll pay the insurance company $4,000 a year to cover all of your
medical expenses.
B
Your insurance will cover up to $4,000 of your medical expenses each
year and then you'll have to cover the rest.
с
You'll need to pay $4,000 on medical expenses each year before your
insurance will kick in
Your insurance will pay up to $4,000 for each medical visit you have.

Answers

Answer:

с). You'll need to pay $4,000 on medical expenses each year before your

insurance will kick in

Explanation:

The deductible is the cash amount that a person needs to pay to the insurance company before their insurance coverage can begin.  It applies mostly to medical insurance. If an insurance policy has a deductible requirement, one can not launch any claim without having paid the deductible in full. The insured pays the deductible out of pocket.

What benefits many and is not consumed when used?
O Private Goods
O Free Goods
O Regular Goods
O Public Goods

Answers

Answer:

Public Goods

Explanation:

Public goods refer to commodities and services available for use by all members of a community. They are provided by the government through taxes. Because the government funds public goods, they benefit everyone in society at no extra costs.

Examples of public goods include public roads, street lighting, police service, national defense, and public bridges.

Public goods are both non-rivalry and non-excludability. They don't get exhausted when consumed, nor is it possible to exclude others from consuming them.

What are liquid assets? What are non-liquid assets? What are some examples of each?

Answers

Explanation:

A liquid asset allows any individual or a company to access cash at any time they want. ex:Cash or currency, Bank accounts, Accounts receivable

Non liquid assets are assets that cannot be sold or converted into cash easily without a significant loss of investment. Some examples of such assets include houses, cars, land, televisions and jewelry.

hope it helps!

many companies are replacing their annual inventory counts with daily cycle counts of smaller segments of inventory in order to__.
a. reduce airs and catch any problems earlier
b. reduce their inventory
c. reduce overhead costs
d. reduce reliance on computerized inventory management​

Answers

Answer:

a. reduce errors and catch any problems earlier

Explanation:

Daily inventory cycle counts allow companies to immediately identify variances in inventory and their causes. The organization can then put measures to address the problem. Detecting problems early and employing corrective measures prevent a business from incurring heavy losses as opposed to waiting until the end of a period for a stock take.

Organizations are opting for daily stock stocks for more accurate reporting, customer-friendly stock management, and early detection of inventory problems.

What are the primary reasons people choose to invest and trade stocks?

(Select all that apply.)


to earn a dividend to earn a dividend , ,

to earn capital gains to earn capital gains , ,

to earn predictable quarterly interest to earn predictable quarterly interest , ,

to earn money that is liquid

Answers

Answer:

to earn a dividend

to earn capital gains

Explanation:

Stocks represent ownership in a corporation. Shareholders are entitled to share in the profits of the business. The portion of profits that shareholders get for contributing capital is the dividend.

Investing in stocks makes one a shareholder and gives them the right to dividends. Investors always select the stocks of companies likely to declare high dividends. Dividends is an important reason why investors opt for shares or stocks.

Stocks of corporations that are performing well financially are likely to increase in price. Investors buy stocks when prices are low and selling them when prices appreciate. That way, they can profit through capital gain.

Dividends and capital gains are the rewards that investors gain from stocks. Interest is earned on deposits and loans.

Which of the following statements describes the most likely reason why
ethical employees are important for a company?

Answers

Answer:

Works because they create products and help the company thrive

Explanation:

Answer: C. It can save money :)

Explanation:

Does the U.S. have a trade deficit or surplus?

Answers

Answer:

surplus

Explanation:Don't quote me on this because I might be wrong, but I think the united states has a trade surplus because of the dependence on U.S trade globally. China has a trade surplus because they have some the biggest and busiest factories and shipping outposts. Since the U.S has such a high trade level with the trade Surplus of china the U.S is also a trade surplus.

Which type of insurance covers individuals by giving them a
portion of their wages in the event that they are unable to work for
a long period of time due to illness or injury?

O Collateral
O Disability
O Liability
O Property

Answers

Answer:

Disability

Explanation:

Disability insurance offers protection against the loss of income due to disability or sickness. This insurance policy provides income to the insured if they are unable to work as a result of a disability or serious illness. Disability insurance coverage is available from private insurance companies and government-backed programs.

Answer:

Disability

Explanation:

The cost of campaigning requires candidates to conduct extensive
activities.
O community service
O fund-raising
O illegal
O campaigning

Answers

Answer:

fund-raising

Explanation:

Running for a political office is an expensive affair. The candidate and political party require a lot of money to run a successful campaign. To raise funds needed to conduct campaigns, political parties and candidates organize fundraising activities and events.

Community service and campaigning are good platforms to woe voters but cannot generate funds to run for a political office.

Holly is a small business owner whose income is reported on Schedule C. She placed her 2016 Honda Accord into service when she purchased it on January 1, 2018 for $24,000. She did not claim any §179 expense, but she did claim bonus depreciation. In 2018, she drove her vehicle 9,600 miles for business, 5,200 commuting miles, and a total of 18,000. What is Holly's depreciation for the car in 2018?

Answers

Answer:

the depreciation for the car is $9,600

Explanation:

The computation of the holly depreciation for the year 2018 is as follows:

In the case when the automobiled is used for business i.e. lower than 100% so it would be determined proportionally

i.e.

= $18,000 × 9600 Miles ÷ 18000 Miles

= $9600

Also the communting expense would be considered as a personal expense

So, the depreciation for the car is $9,600

Your friend is hoping to buy a home in the next few years. What should your friend know about the process of finding and paying for a new home? Then consider what you learned in the Wk 3 Learning Path video, "Demonstration Problem Video 6.5: Calculating an Affordable Home Price" in WileyPLUS. How would your friend determine what is affordable?

Answers

Answer:

Following are the solution to the given question:

Explanation:

To purchase a new home, they should first be able to afford a way which will have houses itself on budget and should be able to check all similar houses in the area but in others. To pay for the new house, he may pay directly if he does have the amount of money, or if he's had a home mortgage that is also recognized as a car loan, meaning according to his credit history, he receives a loan against the price of a property he plans for purchase, and therefore, that interest rate is decided.

To order to calculate what is reasonable, they need to find out just how much cash he has as well as how many loans he would pay to be compensated for by the EMI on schedule.He should be good at all the financial products he allows usage of it for a better credit record. For a successful FICO score to also be kept, the individual needs to pay the credit card debts and other expenses, like utilities or electricity. He must not make many banks' loan applications since the more requests he creates, and the affected is his FICO score, spoiling the credit record.

As you move through your career and begin to seek promotions, it is helpful to ______. a. Target and train for specific career promotions which fit your needs b. Remain tied to traditional practices in a technologically advancing age c. Show commitment to always doing your job in the same way no matter what d. Compile your professional development and growth every ten years Please select the best answer from the choices provided.

Answers

Answer:

a.

Target and train for specific career promotions which fit your needs

Explanation:

A change of state of matter is an example of a/an
A. chemical change
B. chemical reaction
C. exothermic reaction
D. physical change ​

Answers

Answer:

D.Physical Change

Explanation:

Physical changes alter the size, shape, form or basically the matter state of a material....& they are reversible.

So over here, Changes of state are physical changes in matter coz they are reversible changes that do not change matter's chemical form or chemical properties.

For example, Ice- even though it changes to water when it melts, it can still change back to ice when it freezes. so the change is reversible.

Desmond works in Power, Structural, and Technical Systems. He would most likely be employed by

Answers

Answer:

He would most likely be employed by O a farm company or dealership. a small farm or bakery.

Explanation: He would most likely be employed by O a farm company or dealership. a small farm or bakery.

Answer:

Correct ^^^

Explanation:

What could help you demonstrate to an interviewer your skills in handling difficult situations? A. a description of your qualifications and work experience B. a review of the research you've done on the company C. an example of how someone you know handled a lawsuit D. a story of a time when you solved a problem at work

Answers

Answer:

D. a story of a time when you solved a problem at work

Explanation:

By describing a time when you solved a problem at work, the interviewer would have a glimpse of your problem solving abilities.

Your department has been having things come up missing lately . You've been noticing but no one else has said anything . Two other people work in your department . how will you handle this issue ?

Answers

Answer:Are you friends with these other colleges if you’re you should try asking questions concerning the incidents but be careful so you don’t throw any of them especially if one of them might be the culprit

Explanation:

I need help with a class on e2020 the class is College and Career readiness need help fast ​

Answers

Answer:

what's your question on it?

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