In 2021, Western Transport Company entered into the treasury stock transactions described below. In 2019, Western Transport had issued 160 million shares of its $1 par common stock at $15 per share. Required: Prepare the appropriate journal entry for each of the following transactions: (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) On January 23, 2021, Western Transport reacquired 10 million shares at $18 per share. On September 3, 2021, Western Transport sold 1 million treasury shares at $19 per share. On November 4, 2021, Western Transport sold 1 million treasury shares at $16 per share.

Record the reacquisition of 10 million shares at $18 per share.

Record the sale of 1 million treasury shares at $19 per share.

Record the sale of 1 million treasury shares at $16 per share.

Answers

Answer 1

The business will see a $2 loss per share. This loss is recorded as a debit to the Retained Earnings account.

In order to prepare journal entries for the treasury stock transactions, the following two accounts will be used:

Treasury Stock account Common Stock account

1. Record the reacquisition of 10 million shares at $18 per share.

Treasury Stock account Debit = $180 million

Common Stock account Credit = $10 million

Treasury Stock account is debited in order to record the reacquisition of 10 million shares at $18 per share. This means that Western Transport will be paying $180 million in total to buy back the shares. A Common Stock account is credited to record the par value of the shares that were reacquired. The par value of common stock is $1 per share. Therefore, 10 million shares will have a total par value of $10 million.2. Record the sale of 1 million treasury shares at $19 per share.

Treasury Stock account Credit = $19 million

Additional Paid-in Capital (APIC) account Debit = $1 million

Treasury Stock account is credited to record the sale of 1 million treasury shares at $19 per share. The total cash received from the sale will be $19 million. The cost of the treasury stock was $180 million / 10 million shares = $18 per share. This means that the company will earn $1 per share as an additional amount. APIC account is debited to record this additional amount.3. Record the sale of 1 million treasury shares at $16 per share.

Treasury Stock account Credit = $16 million

Retained Earnings account Debit = $2 million

Treasury Stock account is credited to record the sale of 1 million treasury shares at $16 per share. The total cash received from the sale will be $16 million. The cost of the treasury stock was $180 million / 10 million shares = $18 per share. This means that the company will incur a loss of $2 per share. Retained Earnings account is debited to record this loss.

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Related Questions

format of a presentation essay

Answers

introduction
main body of presentation should include for/against if applicable and an evaluation of the points raised
a conclusion

perception is limited by previous experiences and attitudes toward the sender of the message. True or False

Answers

The statement "perception is limited by previous experiences and attitudes toward the sender of the message" is generally true. Our past experiences and attitudes can influence how we perceive and interpret messages from others. For example, if we have had negative experiences with a particular person or group in the past, we may be more likely to perceive their messages in a negative light, even if the message itself is neutral or positive. Similarly, if we have strong preconceptions or biases about a certain topic, we may interpret messages related to that topic in a way that aligns with our pre-existing beliefs.

However, it's important to note that our perceptions are not entirely determined by our past experiences and attitudes. We can still consciously choose to approach new messages with an open mind, and to challenge our own biases and assumptions. Additionally, factors such as the clarity and specificity of the message, the context in which it is delivered, and the tone and delivery of the sender can all influence how we perceive and interpret the message, regardless of our past experiences and attitudes.

In summary, while our past experiences and attitudes can certainly limit our perception of messages from others, it's important to be aware of this tendency and strive to approach new messages with an open and critical mind.

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summary on business essay for grade 9

Answers

The analysis of the business essay should contain:

The brief description of the company.Company conditions.SWOT analysis of the company.The financial status of the company.The future of the company.Conclusion.

How to illustrate the information?

It should be noted that a company analysis is important to analyze a company so that the organizational goals will be achieved.

In this case, the begining of the essay is to introduce the company. This should illustrate the mission and the objective of the company.

Other important information include the company conditions, SWOT analysis of the company, the financial status of the company, and the future of the company.

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the market system fails to provide the efficient output of public goods because:

Answers

Public goods are goods and services that are non-excludable and non-rivalrous, meaning that their consumption by one individual does not reduce their availability to others.

Due to their nature, public goods cannot be efficiently provided by the market system. This is because private firms will not produce public goods as they cannot charge consumers for their use. As a result, public goods tend to be under-produced or not produced at all in the absence of government intervention.

Furthermore, the provision of public goods is subject to the free rider problem. Free riders are individuals who benefit from the provision of a public good without contributing to its cost. Since public goods cannot be excluded, individuals have no incentive to pay for them voluntarily.

This leads to a situation where the optimal level of public goods is not produced because the cost of providing them is not shared fairly among all those who benefit from their consumption. As a result, governments often have to intervene and provide public goods to ensure that the economy is efficient and all members of society benefit.

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A rake was marked up 25% from an original cost of $8. 80. Last Friday, Dean bought the rake and paid an additional 3% in sales tax. What was his total cost?.

Answers

The total cost of the rake is $7.25. is the final answer.

Given that, a rake was marked up 25% from an original cost of $8.80. Last Friday, Dean bought the rake and paid an additional 3% in sales tax.

We need to find his total cost. To calculate the total cost, we will first calculate the cost of the rake after the markup and then add the sales tax markup.

Cost of the rake after mark let's say the original cost of the rake is x.

Now, given the rake was marked up 25% from an original cost of $8.80Therefore, we can say that 1.25x = $8.80x = 8.80 / 1.25x = 7.04Therefore, the cost of the rake after the markup is $7.04. Adding sales tax given that Dean paid an additional 3% in sales tax.Total cost = Cost of the rake + Sales taxCost of the rake = $7.04Sales tax = 3% of $7.04= 3 / 100 * 7.04= $0.21

Therefore, the Total cost = $7.04 + $0.21= $7.25. Therefore, the total cost of the rake is $7.25.

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What is the answer I chose the one I thought was the answer

What is the answer I chose the one I thought was the answer

Answers

Answer: I think that ones the answer too

Answer:

c is

Explanation:

1. dwaynej goes to the gym 20 times a month. his income is $1,000 per month and his visits to the gym cost $4 per visit. draw dwayne's budget line for visits to the gym and all other goods, show the consumption bundle that maximizes his satisfaction, and draw the indifference curve through that point. recently, a new health club opened which offers identical facilities but which charges a flat fee of $60 per month plus an additional $1 per visit. draw dwayne's budget line if he were to join this new club. would dwaynej continue to work out at the gym or would he join the new health club. why?

Answers

The correct answers for the questions are given below:

His indifference curve (IC) is tangent to the budget line BL at point A, where he consumes 20 visits to the gym and spends the rest on other consumption

How to solve this

a) Let the number of visits to gym be g.

Let y be his expenditure on all other goods.

His income is $1,000 so the Budget Line (BL) is 1000 = 4*g + y (per visit price of g is given as $4).

When g=0, y=1000 and when y=0, g=1000/4=250.

Now we know he goes to the gym 20 times, so this must be maximising his utility.

So, his indifference curve (IC) is tangent to the budget line BL at point A, where he consumes 20 visits to the gym and spends the rest on other consumption.

b) Now the price structure of gym is $60 membership fee and $1 per visit.

Note that at this new price structure he can still consume his old consumption bundle at A (60 + 1*20 = 80 is what he was spending before).

His new Budget Line B* is: 1000 = 60 + g + y, or, 940 = g + y. So when g = 0, y = 940.

When, y=0, g=940. So, it will pass through y=940 and point A.

c) Given price of gym has fallen, given his utility function remains same, consuming more g will definitely shift his utility to a higher indifference curve lie IC* at a point like B.

So, Dwanej will join the new health club.

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- The responsibility for facilitating an internal agency meeting falls on the _____.

a. Client

b. Ombudsman

c. President of the agency

d. Account manager

-Internal meeting facilitation involves the process of making _____.

a. More documentation to verify agency procedure

b. Assessment of agency profitability

c. Meetings more successful in terms of moving ahead with client’s work.

d. Meetings shorter

Answers

The responsibility for facilitating an internal agency meeting typically falls on the account manager. As the primary point of contact between the agency and the client, the account manager is responsible for coordinating and organizing internal meetings.

They ensure that all team members are informed about the meeting, set the agenda, and manage the flow of the discussion. The account manager plays a crucial role in making sure that the meeting is productive and focused on the client's work. They also ensure that the meeting stays on track and that everyone's opinions are heard.

The account manager is responsible for facilitating internal agency meetings.
Meetings more successful in terms of moving ahead with client’s work.
Internal meeting facilitation involves the process of making meetings more successful in terms of moving ahead with the client's work. The facilitator, usually the account manager, ensures that the meeting has a clear objective and agenda. They guide the discussion, encourage participation from all team members, and make sure that decisions and action steps are documented. By facilitating the meeting, the account manager helps the team stay focused and ensures that the meeting is productive and efficient. The facilitator also helps resolve conflicts, if any, and encourages collaboration among team members. In conclusion, internal meeting facilitation aims to make meetings more successful in terms of progressing with the client's work.

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A business analyzes what competitors are charging for products.

Answers

When a business analyzes what the competitors are charging for their products, it is known as the process of marketing info management.

What is the significance of business competitors?

A business competitor can be referred to or considered as an organization that deals in the same product that is offered for sale by other enterprises in the same market.

It is important for a business to keep an eye on the acts of its competitors, as it helps them in keeping themselves updated with marketing info management.

Therefore, the significance regarding the business competitors has been aforementioned.

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how do you wrrite the word pneumonoultramicroscopicsilicovolcanoconiosi aand what does it mean?

Answers

Answer:

Pneumonoultramicroscopicsilicovolcanoconiosis

Explanation:

Pneumonoultramicroscopicsilicovolcanoconiosis is a phrase used to describe a lung condition produced by inhaling silica dust, as in I had difficulty breathing and my doctor diagnosed me with pneumonoultramicroscopicsilicovolcanoconiosis.

Outstanding stock of the Whispering Winds Corp. included 39000 shares of $5 par common stock and 13000 shares of 5%, $10 par non-cumulative preferred stock. In 2019, Whispering declared and paid dividends of $3900. In 2020, Whispering declared and paid dividends of $11700. How much of the 2020 dividend was distributed to preferred shareholders

Answers

Answer:

$6,500

Explanation:

39,000 shares of $5 par common stock

13,000 shares of $10 par 5% non-cumulative preferred stock = $6,500 in preferred stocks dividends per year. Since the preferred stocks are non-cumulative, if they are not paid during one period, that dividend cannot be recovered in future periods.

In 2020, $11,700 were paid in dividends:

$6,500 were paid to preferred stocks$5,200 were paid to common stocks

The managers at Alpha Corp. are closely observing trends in the industry. They are trying to identify factors that might have a significant influence on Alpha's business operations. Which of the following concepts is illustrated in the scenario?

Answers

Answer:

Environmental scanning

Explanation:

Environmental scanning is when information is being gathered about external forces inorder to know the factors that have impacts on a business. It is  also the gathering of information on situations which allows a business create and build good customer relationship.

Business environments are dynamic and could have impacts on the success of a firm hence requires business scanning inorder to align with the trend. One the purpose of environmental scanning is to provide future business directions to an organization and also assist in analyzing the strength, weakness, opportunities and threats to an organization.

Factors that might have significant influence on business operation includes but not limited to social and demographic factors, how competitors are reacting, technology, how well customers are reacting to the company's products, creditors, legal issues etc.

when making a decision only ______ costs and benefits should to be included in the analysis.

Answers

“only (Relevant) costs and benefits...”

What is the advantage of opening a credit card account at a young age?
A. It helps people begin to accumulate debt.
B. It allows people to defer their tax payments.
C. It helps people begin to build a credit history.
D. It allows people to take advantage of high interest rates.

Answers

The answer is C
Explanation: when you get a credit card at a young age, it helps your credit go up, so when your older you have good credit!

Answer:

It helps people begin to build a credit history

What are the four types of economic groups ?

Answers

Economic systems can be categorized into 4 main group: common economies, command economies, mixed economies, and market economies.

What are the four foremost monetary groups?

consumers, producers and government are the predominant economic groups. the interactions between the most important financial groups.

What are the 4 kinds of economics and describe each?

The extraordinary sorts of financial structures are Market Economy, Planned Economy, Centrally Planned Economy, Socialist, and Communist Economies. All these are characterised by using the possession of the economics sources and the allocation of the same.

An economic cycle is the normal state of the financial system as it goes through four levels in a cyclical pattern: expansion, peak, contraction, and trough

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which part of our body is affected by plogue pose?​

Answers

Answer:

spine and shoulders are affected

The spine and the shoulders of our body part are mostly affectd by the plogue pose. It stretches our body muscles.

Plow Pose

It is a stretching exercise which keeps your body fit and flexible.

Doing stretching exercise regularly benefits the body mucles and tendons.

The plow pose is a stretching exercise where one positions his/her body upside down and keeps their feet bend over the head.

This pose affects our spine and also our shoulders.

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which part of our body is affected by plogue pose?

Three boys step off together from the same spot. Their steps measure 63 cm, 70 cm
and 77 cm respectively. What is the minimum distance each should cover so that all​

Answers

Answer:

Minimum distance walked y the three boys is 6930 centimeter

Explanation:

Complete Question

Three boys step off together from the same spot. Their steps measure 63 cm, 70 cm  and 77 cm respectively. What is the minimum distance each should cover so that all​ can cover the distance in complete steps

Solution

The LCM of the size of the steps of the three boys will give the minimum distance that each should cover so that all​ can cover the distance in complete steps

LCM of 63 cm, 70 cm  and 77 cm will be 2*3*3*5*7*11

= 6930 centimeter

Hence, minimum distance walked y the three boys is 6930 centimeter

A merchandise inventory evaluated at the end of a fiscal period is known as a periodic inventory.
a. true
b. false

Answers

b. false, a merchandise inventory evaluated at the end of a fiscal period is known as an ending inventory.

A periodic inventory refers to the system of tracking inventory periodically, typically through physical counts, as opposed to a perpetual inventory system that continually updates inventory levels.

On the other hand, a periodic inventory system is a method of tracking inventory by conducting periodic physical counts and adjusting inventory records accordingly.

This is in contrast to a perpetual inventory system, which continuously tracks inventory levels using technology such as barcodes or RFID tags.

In a periodic inventory system, a physical count is conducted at the end of each accounting period, and the difference between the beginning inventory and the ending inventory is used to calculate the cost of goods sold (COGS) for that period.

This method is typically used by smaller businesses that have lower inventory levels and do not have the resources to implement a perpetual inventory system.

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where in the universe did the big bang take place?

Answers

There's no exact spot that the Big Bang happened. In fact, the Big Bang happened everywhere in the Universe. The problem generally comes from the term "Big Bang". It brings to mind explosions, detonations, balloons being popped, and everything being blown out to chickenbasket hades.

Answer:

The dig dang happened everywhere in the universe

Explanation:

quick will give brainliest Bank A has a liquidity ratio close to 30 percent. This ratio will most likely _____.


not affect the bank’s run-off rate

cause a higher than acceptable run-off rate

cause a lower than acceptable run-off rate

Answers

Quick will provide the smartest The liquidity ratio for Bank A is almost 30%. The bank's run-off will probably not be impacted by this ratio.

Quick ratio is a ratio of liquidity?

In order to determine a company's ability to meet its immediate financial obligations, analysts and investors use liquidity data called the quick and current ratios.The current ratio is calculated by dividing current liabilities by current assets.The quick ratio only considers highly liquid assets or cash equivalents as current assets.

What is a decent quick ratio?

If the company's assets can be turned into cash extremely fast, a ratio of less than 1.5 is less problematic. Although a current ratio of three or four may indicate financial health, it also raises questions about whether a corporation is ineffective at investing the money it does have.

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2. what are some advantages of private corporations for pods? what are some disadvantages?

Answers

The advantages of private corporations include greater flexibility in decision-making, less government interference, and the ability to raise capital through the issuance of shares. However, there are also some disadvantages, such as limited shareholder liability, possible lack of transparency, and the potential for shareholder interests to conflict with those of the company.

The advantages of private corporations include greater flexibility in decision-making, less government interference, and the ability to raise capital through the issuance of stocks. However, there are also some disadvantages, such as the limited liability of shareholders, the potential lack of transparency, and the possibility of shareholders' interests conflicting with those of the company.

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Rising interest rates have made borrowing more costly to consumers. As a result
of the most recent increase in interest rates, borrowing and consumption have
fallen throughout the economy, triggering a contractionary period. Growing
uneasy, citizens have been asking Congress to make an official statement as to
how long this contractionary period is expected to last. Which of the following is
an appropriate response?

Answers

Answer:

it depends on the measures taken to ensure that economy is stable.

Answer:

1. it is difficult to say since contractionary periods have varying lengths in different business cycles.

2. shock

3. high unemployment

4. two

5. expansion stage of the business cycle

Explanation:

just took it

Journalize the entries for the following transactions. Refer to the chart of accounts for the exact wording of the account bites. CNOW joumals do not use lines for joumal explanations. Every line on a journal page is used for debit or credit entries. CNOW joumals will automatically indent a crecit entry when a credit amount is entered. (Note: the company uses a clearinghouse to take care of all bank as well as non-bank crodit cards used by its customers.) Mar. 1 Sold merchandise for cash, $31,600. The cost of the merchandise sold was $12,640. 10 Sold merchandise on account, $259,000. The cost of the merchandise sold was $103,600. 12 Sold merchandise to customers who used MasterCard and VISA, $153,000. The cost of the merchandise sold was $61,200. 17 Sold merchandise to customers who used American Express, $73,800. The cost of the merchandise sold was $29,520 : 31 Paid 58.000, to National Clearing House Credit Co. for service fees for processing MasterCard, ViSA. and American Express sales. General Ledger ACCOUNTING EQUATION

Answers

The journal entries for the transactions are as follows:

General Journal

Date Accounts and Explanation Debit Credit

Mar. 1 Cash 31,600

Sales Revenue 31,600

(To record the cash sales for merchandise.)

        Cost of Goods Sold                  12,640

        Inventory                                    12,640

        (To record the cost of goods sold for the cash sales made on March 1.)

       

10 Accounts Receivable 259,000

Sales Revenue 259,000

(To record the sales of merchandise made on credit.)

        Cost of Goods Sold                  103,600

        Inventory                                    103,600

        (To record the cost of goods sold for the sales made on credit on March 10.)

       

12 Cash 151,575

Accounts Receivable 151,575

(To record the sales made to customers who used MasterCard and Visa.)

        Cost of Goods Sold                  61,200

        Inventory                                    61,200

        (To record the cost of goods sold for the sales made to customers who used MasterCard and Visa on March 12.)

       

17 Cash 71,643

Accounts Receivable 71,643

(To record the sales made to customers who used American Express.)

        Cost of Goods Sold                  29,520

        Inventory                                    29,520

        (To record the cost of goods sold for the sales made to customers who used American Express on March 17.)

       

31 Service Fees Expense 58,000

Cash 58,000

(To record the service fees paid to National Clearing House Credit Co. for processing MasterCard, Visa, and American Express sales.)

General Ledger:

Account Name

Cash

Accounts Receivable

Inventory

Cost of Goods Sold

Sales Revenue

Service Fees Expense

Accounting Equation:

Assets = Liabilities + Equity

Cash + Accounts Receivable + Inventory = Accounts Payable + Equity

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list the four factors of production​

Answers

Answer:

Land, Labour,Capital and Entrepreneur

Explanation:

Land is a natural resource which can be used to create goods or service

Labour is the workdone by the peoplw in the workforce

Capital is the man-made goods that are used in the production of goods

Entrepreneurs are people who take risks in search of profit

The most likely result of decreasing government regulations is

Increased average safety for consumers

This competition and higher prices

The creation of larger companies in US cities

A decrease in price due to competition

Answers

The most likely result of decreasing government regulations is A decrease in price due to competition

The most likely result of decreasing government regulations

The most likely result of decreasing government regulations is an increase in competition and potentially lower prices for consumers. When regulations are decreased, companies may face fewer restrictions on their operations and have more flexibility to innovate and compete with each other.

This can lead to lower prices for consumers as companies try to attract customers through lower prices and better products or services. However, it is also possible that decreased regulation could lead to a decrease in safety or quality standards, as companies may prioritize profits over consumer safety or environmental concerns. Overall, the effects of decreased government regulations can vary depending on the specific industry and the nature of the regulations being lifted.

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Drag the tiles to the correct boxes to complete the pairs.
Match the different resources to the scenarios where they are used.
natural resources
human resources
man-made resources
entrepreneurship
A power plant uses an Industrialdesign power generator to generate large-scale
electricity for the neighborhood.
A power plant uses coal to heat water and then converts it into steam, which
then turns the turbines.
>
A power plant is set up by a group of industrialists as they come together to
solve the power crisis in their nelghborhood.
A power plant employs local workers who work in shifts to keep the plant
running for most of the day.

Answers

Answer:

1. Man-made

2. natural resources

3. entrepreneurship

4. Human resources

Explanation:

A power plant utilized a power generator to generate for their neighborhood the electricity on a large scale basis should be matched with the man-made resources.A power plant where coal is used to heat water by converting it into the stream to turn on the turbines should be matched with the natural resources.A power plant that is established by industrialists in order to solve the power crisis in the neighborhood should be matched with entrepreneurship.A power plant where local workers are employed to keep the plants active by working in the shifts should be matched with the human resources.

What are natural resources?

Natural resources are those which are present in the environment and are limited in number.

The man-made resources are those where a power generator is used to initiate the electricity on large scale.The natural resources are those where the water is heated from coal and then converting it to steam for running the turbines.The entrepreneurship is represented when the industrialists come together to solve the power crisis of their own neighborhood.The human resources are those where the workers are working in shifts to keep their plants in running condition.

Therefore, the given resources are matched with the scenarios in which they are used.

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What is the most important step in financial planning? *
A) Learning how the stock market works
O B) Putting together a diverse financial plan
O C) Tracking your spending
D) Putting together a budget and using it

What is the most important step in financial planning? *A) Learning how the stock market worksO B) Putting

Answers

The correct answer is B

Customers have different expectations when they purchase a Lexus than when they purchase a Hyundai. These expectations affect ________.

Answers

Customers have different expectations when they purchase a Lexus than when they purchase a Hyundai. These expectations affect customer satisfaction and brand perception.

Lexus is a luxury brand that is known for its high-quality materials, sophisticated styling, and advanced technology features.

Customers who purchase a Lexus are likely to have high expectations for these features, as well as for superior performance and reliability. They may also expect a higher level of customer service and a more personalized buying experience.

In contrast, Hyundai is a more affordable brand that is known for its reliability, practicality, and value for money. Customers who purchase a Hyundai may have different expectations, such as a balance of features and affordability, fuel efficiency, and low maintenance costs.

They may also prioritize practicality and reliability over luxury and advanced features.

These different expectations can have a significant impact on customer satisfaction and brand perception. If a customer's expectations are met or exceeded, they are likely to be more satisfied with their purchase and have a positive perception of the brand.

On the other hand, if a customer's expectations are not met, they may be dissatisfied with their purchase and have a negative perception of the brand.

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ESTIONS
Discuss FOUR phases of business cycle in detail​

Answers

Answer:

The answer is below

Explanation

1. Expansion: this is a period in which business is growing at a considerable rate. Such as an increase in production and sales

2. peak: this is a period in which production and prices increase beyond the normal level. This shows there is no longer room for increment.

3. contraction: this is a period in a business cycle in which the productions and sales began to fall due to low patronage and a bad economy.

4. Trout: this is a peak period in which business models lost their values in terms of production and sales. At this point, it is believed that the business cannot get worse.

why is enterprise important to a country ?

Answers

Answer:

New and improved products, services, or technology from entrepreneurs enable new markets to be developed and new wealth to be created. Additionally, increased employment and higher earnings contribute to better national income in the form of higher tax revenue and higher government spending.

Explanation:

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