User Account

All Pages

What effect does it have on stockholders equity

Assignment Help Financial Accounting
Reference no: EM13510826

A corporation reacquires 10,000 shares of its own $25 par common stock for $450,000, recording it at cost.

(a) What effect does this transaction have on revenue or expense of the period?
(b) What effect does it have on stockholders' equity?

Reference no: EM13510826

Questions Cloud

Cost approach and market transaction : Cost approach and market transaction (actual transaction value for identical or similar asset based on an arm's length market transaction)
Journalize the entries required on february : Arroyo Corporation has 100,000 shares of $60 par common stock outstanding. On February 8, Arroyo Corporation declared a 6% stock dividend to be issued April 11 to stockholders of record on March 10.
List the key disclosure recommendations in the jenkins : What is meant by differential disclosure?  Identify the three differential disclosure proposals discussed in the text.
Prepare a retained earnings statement for 2010 : In 2010, Alpha Centuri recorded an adjustment of $110,000 due to the overstatement (from mathematical error) of 2009 depreciation expense. Prepare a retained earnings statement for 2010.
What effect does it have on stockholders equity : A corporation reacquires 10,000 shares of its own $25 par common stock for $450,000, recording it at cost.
Calculate the amounts of net income and retained earnings : Calculate the amounts of net income and retained earnings after the preceding adjustments are recorded.
Discuss the validity of charles candys comment : Discuss the validity of Charles Candys comment about the determinant of a good auditor - Discuss the validity of Charles Candy's stated views about the how your firm should approach its audit of the financial statements of Jonp Limited.
Eliminate the unrealized profits : Son Corporation is an 80 percent-owned subsidiary of Pin Corporation. In 2011, Son sold land that cost $15,000 to Pin for $25,000.
Uniformity and disclosure policy-making directions : Discuss the role of management in relevant circumstances.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Net income of a large corporation

A measure of the effectiveness with which management utilizes a company's resources, regardless of how those resources are financed.

  Record the journal entries for the select transactions

Eraesi Company, which uses the perpetual inventory system, began operations on January 1, 2010. At January 1, 2011, the Company reports the following balances.

  Which principle states that assets acquired by business

Which principle states that assets acquired by the business should be recorded at their actual price and company performed services for a customer on account

  What are generally accepted accounting principle

What are generally accepted accounting principles (GAAP)? Who currently develops and issues GAAP? What is the purpose of GAAP?

  Question financial services corporation implementing an hr

question financial services corporation implementing an hr balanced scorecard case study?will you please answer the

  Compute the cost of the units transferred

Beginning inventory was 20% complete for conversion cost. Ending inventory was 70% complete for concersion costs. Compute the cost of the units transferred out during July and the ending inventory July 31 using the weighted-average method.

  What is the justification for using backflush costing

What are some accounting changes that a firm should make if it decides to implement a JIT inventory management system? Why are those changes necessary and what is the justification for using backflush costing

  Calculation of material and labor variances and setting

calculation of material and labor variances and setting revised standards.maui muumuus manufactures traditional

  Which payment option has the greatest present value

Your personal time value of money/interest rate is 5%. Which payment option has the greatest present value?

  What will monopolist profit be

determine how much output the profit maximizing monopolist will sell to group i, i=1,2. What prices will the monopolist charge the groups? what will monopolist profit be?

  Compute the unit target cost per calculator

Calcutron Company is contemplating introducing a new type of calculator to complement its existing line of scientific calculators.

  Find out the price of the bonds at january

For bonds of similar risk and maturity, the market yield is 12%. Interest is paid semiannually on June 30 and December 31. Find out the price of the bonds at January 1, 2011.

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