On october 10, the stockholders' equity of sherman systems appears as follows:

common stock-$10 par value, 72,000 shares authorized, issued, and outstanding $720,000
paid-in capital in excess of par value, common stock 216,000
retained earnings 864,000
total stockholders' equity $1,800,000
1. prepare journal entries to record the following transactions for sherman systems.
a. purchased 5,000 shares of its own common stock at $25 per share on october 11.
b. sold 1,000 treasury shares on november 1 for $31 cash per share.
c. sold all remaining treasury shares on november 25 for $20 cash per share.
2. explain how the company's equity section changes after the october 11 treasury stock purchase, and prepare the revised equity section of its balance sheet at that date.

The mars company's new topeka, kansas, manufacturing plant is the first new facility the company has opened in north america in 35 years. the new plant is which type of tangible resource?

Which of the following statements is not correct? 1) trade allows for specialization. 2) trade has the potential to benefit all nations. 3) trade allows nations to consume outside of their production possibilities curves. 4) absolute advantage is the driving force of specialization.

Xyz corporation has provided the following data concerning manufacturing overhead for july: actual manufacturing overhead incurred $ 69,000 manufacturing overhead applied to work in process $ 79,000 the company's cost of goods sold was $243,000 prior to closing out its manufacturing overhead account. the company closes out its manufacturing overhead account to cost of goods sold. which of the following statements is true? multiple choice manufacturing overhead was overapplied by $10,000; cost of goods sold after closing out the manufacturing overhead account is $253,000 manufacturing overhead was underapplied by $10,000; cost of goods sold after closing out the manufacturing overhead account is $233,000 manufacturing overhead was underapplied by $10,000; cost of goods sold after closing out the manufacturing overhead account is $253,000 manufacturing overhead was overapplied by $10,000; cost of goods sold after closing out the manufacturing overhead account is $233,000