p45 At December 31,2018, ABC Company had 20,000 shares of P 20 par value treasury shares thatwere acquired in 2018 at P 24 per share. In May 1,2019, additional 5,000 shares werereacquired and immediately retired at P 26 each. These shares were originally issued at P 23.On June 1,2019, ABC issued 15,000 of the treasury shares at P 20 each. The cost method isused to record the treasury shares transaction.At December 31,2019, what amount should ABC show in its notes to financial statementsas a restriction of retained earnings as a result of its treasury share transactions? *O P 120,000O P 10,000O P 480,000O P 130,000

The treasury stock includes the buy back of shares by company.

Answered: BC Company had 20,000 shares par value…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

4G 46 10:14 O O O 及 .00 01:56:08 Remaining Multiple Choice A resident citizen has a compensation income of P2,280,000 within the Philippines and P1,370,000 from abroad. Compute the income tax due/ payable. P301,000 P528,000 P579,600 O P1,018,000 53 of 60
Dete for Utuyox735, a large merchandiser, is below Sales are budgeted at $307,000 for November, $327,000 for December, and $227,000 for January . Collections are expected to be 60% in the month of sale and 40% in the month following the sale The cost of goods sold is 75% of sales . Utuyoz735 desires to have an ending merchandise Inventory at the end of each month equal to 90% of the next month's cost of goods soid. Payment for merchandise is made in the month flowing the purchase Other monthly expenses to be paid in cash are $22,800. Monthly depreciation is $29,500 . Ignore taxes. . (D#38127) Annet Cash Balance Sheet October 31 Accounts receivable. Merchandise inventory Property, plant and equipment, net of $624,000 accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity Q) What are the accounts payable for Utuyoz735 at the end of December? Multiple Choice F 35,000 85,500…
18
23:23 ® O N • Voll il 22%! LTE1 T Save Question 20 Worldwide Corp.'s statement of financial position accounts as of December 31, 2019 and 2018 and information relating to 2019 activities are presented below. Incorrect Mark 0.00 out of December 31 3.00 2019 2018 Assets Cash $440,000 $160,000 Short-term investments 800,000 Accounts receivable (net) 1,130,000 1,230,000 Inventory 1,210,000 1,050,000 Long-term investments 400,000 600,000 Plant assets 3,100,000 2,000,000 Accumulated depreciation (700,000) (900,000) Patent 280,000 300,000 Total assets $6,660,000 $4.440.000 Liabilities and Equity. Accounts payable $1,620,000 $1,330,000 Other accrued liabilities 200,000 250,000 Notes payable (nontrade) 560,000 - Common Stock-$10 par 1,600,000 1,400,000 Additional paid-in capital 800,000 500,000 Retained earnings 1.880,000 960,000 Total liabilities and equity $6,660,000 $4,440.000 Information relating to 2019 activities: • Net income for 2019 was $1,250,000. This amount includes net sales…
ACCT 102 - Please Do Sections C and D.
A4
620Group%20Project%20Latest%2015May2020.pdf You have been newly appointed as an Accounts Executive for Automobile Workshop Sdn Bhd. Mr Bakan and Mrs Sheila, owners of Automobile Workshop Sdn Bhd have been furnished with a "Statement of Accounts" in form of Trial Balance for the first year of operation ended 31 December 2019, by the previous Accounts Executive who had resigned recently.
Atlanta Nashville 51140 51720 53266 44721 51640 37428 46430 51538 53016 45369 51486 42094 50527 46485 53329 46382 50453 48729 50793 39082 54128 49598 47195 44898 50716 46644 48061 48002 50396 51977 51785 51484 51940 49696 52761 47568 44403 44429 47681 44862 53890 40744 48296 50419 53179 48397 51066 47135 54052 43176 49708 44619 49947 48468 50268 52096 46947 49513 52345 41278 The worksheet shows the salaries for 30 new teachers in Atlanta and 30 new teachers in Nashville. In a report, use the sample information to determine whether the average salary in Atlanta is greater than Nashville's average salary. Use a reasonable level of significance for the tests. Discuss any assumptions that you made for the analysis. (Note: You might need to investigate some additional information about Atlanta or Nashville!) the report must have a statistical analysis with at least one visual support (table or graph).
i 1:50 O O *UN 40 80% 5 The company dseouteda P10.000, 0 ay, 6 ne on November 15, 2019, Orgnal entry Adisting ertry PHACTICAL EXERCISE testruction: Lung the ecerse mettod tis tare, p te ongral entry ot the tregoing ransations and the neonsary adjuing ery at the end of the acrting pered. Der. 31,201a Protiem Tha trai talance ot the Mabils Fapar Shop appean below at the and f in calondar penad MABLIS REPAR SHOP Trial Balance Decenter 31, 2019 Cash an tand Accounta Recevable Estnand Uncotectbie Accourta 10.000 25.000 P. 1.000 30.000 750 Ns Receivatie Shop Equohert Actumuuted Depreciafen-Shep Egipmert Furte and Fature Acrumuuted Deorsaton-Fuinture ard Fatue Accourts Poyable tows Payable Lenes Capits Leynes, Driwing Service ncome Salares Expanse Rant Expense Suopies Erper Tann and Liman Ligt and Water Expenua 2000 .000 5.000 11.000 12.000 44.750 1.000 30 D00 8000 4000 1.500 1000 105.500 105.S00 A4ssoral ielomation 1. Urpad taxes P600 2 Acorued satarien P1000 1 Acortued interst on netes…
44- In the year 2019 XYZ LLC had net sales is RO 55000 and gross profit is RO 8250. The net sales in 2020 is RO 75000 then the gross profit will be a. RO 8250 b. RO 11250 c. RO 63750 d. RO 46750
Q14: The following are the Condensed statement of Financial Position of Company A and on december 31,2020. A В Current Assets. 2562500 7639375 Plant and Equipment 768500 22918125 Current liability 555000 300,000 long Term Debt. 2220000. 500,000 Share Premium 1250,000 100,000 Retained Earning. 1609000. 425000 Additional Paid-in 1516000. 437500 Сapital 79 Company C acquires the Net Asset of Both A and B. Paying Cash in Amount of 185000 and by issuing 198500 shares to A, Paying of 72000 and by issuing 54350 shares is 30 to B' Par cash in the amount by issuing 54350 Shares value of Share is 30 and market value on acquisition is 40. Requirments: a) Entry that made in the Book of A. b) Entry that made in the Book of B. c) Entry that made in the Book of C.
None

SEE MORE QUESTIONS

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS