Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Basic Finance Expert

On June 15, Bunting Corporation reacquired 12,000 shares of its $10 par value common stock for $18 per share. Bunting uses the cost method to account for treasury stock. The journal entry to record the reacquisition of the stock should debit:

a. Common Stock for $120,000
b. Common Stock for $120,000 and Paid-in Capital in Excess of Par for $96,000
c. Treasury Stock for $216,000
d. Treasury Stock for $120,000

 

Basic Finance, Finance

  • Category:- Basic Finance
  • Reference No.:- M926314

Have any Question? 


Related Questions in Basic Finance

What are the net proceeds from the sale of a bond what are

What are the net proceeds from the sale of a bond? What are flotation costs, and how do they affect a bond's net proceeds? Please answer in 100-150 words.

An investor has two bonds in her portfolio bond c and bond

An investor has two bonds in her portfolio, Bond C and Bond Z. Each bond matures in 4 years, has a face value of $1,000, and has a yield to maturity of 8.4%. Bond C pays a 10% annual coupon, while Bond Z is a zero coupon ...

Do some internet research to find out what it means for a

Do some Internet research to find out what it means for a company to create a "poison pill." Why might a company do that? Some economists think poison pills should be illegal. What is their rationale?

Systemic risk explain how systemic risk is related to the

Systemic Risk: Explain how systemic risk is related to the commercial paper market. That is, why did problems in the market for mortgage-backed securities affect the commercial paper market?

How have increased competition and price volatility

How have increased competition and price volatility affected financial innovation? What are some specific types of innovation that deal with these factors?

What are the two major provisions of the mcfadden actwhat

What are the two major provisions of the McFadden Act? What was the motivation behind its passage?

How has the nyse responded to the technological challenge

How has the NYSE responded to the technological challenge posed by NASDAQ and the trend toward more global financial markets?

The presidents executive jet is not fully utilized you

The president's executive jet is not fully utilized. You judge that its use by other officers would increase direct operating costs by only $31,000 a year and would save $100,000 a year in airline bills. On the other han ...

Edward c johnson iii was the ceo of fidelity mutual funds

Edward C. Johnson, III, was the CEO of Fidelity mutual funds and also the chair of the Fidelity board. In 2004, the SEC issued a regulation requiring chairs at mutual funds to be independent of management, forcing Johnso ...

Mutual fund assignmentdue date september 15 2016pick a

Mutual Fund Assignment(Due date: September 15, 2016) Pick a Mutual Fund of your choice. Visit the web site and learn about your chosen fund whatever you want to learn. Write a report, a page or so, explaining the main fe ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate