Business, 18.02.2020 05:58 sayrieee

Biscayne Bay Water Inc. bottles and distributes spring water. On May 14 of the current year, Biscayne Bay Water Inc. reacquired 2,200 shares of its common stock at $58 per share. On September 6, Biscayne Bay Water Inc. sold 1,600 of the reacquired shares at $62 per share. The remaining 600 shares were sold at $54 per share on November 30

a. Journalize the transactions of May 14, September 6, and November 30.
b. What is the balance in Paid-In Capital from Sale of Treasury Stock on December 31 of the current year?
c. Where will the balance in Paid-In Capital from Sale of Treasury Stock be reported on the balance sheet?

d. For what reasons might Biscayne Bay Water Inc. have purchased the treasury stock?
Select:
i. To support the market price of the stock.
ii. To provide shares for resale to employees.
iii. For reissuance to employees as a bonus according to stock purchase agreements.
iv. None of these reasons.
v. All of these reasons

Answers: 2

Show answers

Another question on Business

Business, 22.06.2019 07:50

Connors academy reported inventory in the 2017 year-end balance sheet, using the fifo method, as $154,000. in 2018, the company decided to change its inventory method to lifo. if the company had used the lifo method in 2017, the company estimates that ending inventory would have been in the range $130,000-$135,000. what adjustment would connors make for this change in inventory method?

Answers: 1

Answer

Business, 22.06.2019 10:00

Scenario: you have advised the owner of bond's gym that the best thing to do would be to raise the price of a monthly membership. the owner wants to know what may happen once this price increase goes into effect. what will most likely occur after the price of a monthly membership increases? check all that apply. current members will pay more per month. the quantity demanded for memberships will decrease. the number of available memberships will increase. the owner will make more money. bond's gym will receive more membership applications.

Answers: 1

Answer

Business, 22.06.2019 19:00

Question 55 ted, a supervisor for jack's pool supplies, was accused of stealing pool supplies and selling them to friends and relatives at reduced prices. given ted's earlier track record, he was not fired immediately. the authorities decided to give him an administrative leave, without pay, until the investigation was complete. in view of the given information, it would be most appropriate to say that ted was: demoted. discharged. suspended. dismissed.

Answers: 2

Answer

Business, 22.06.2019 21:10

Match the terms with their correct definition. terms: 1. accounts receivable 2. other receivables 3 debtor 4. notes receivable 5. maturity date 6. creditor definitions: a. the party to a credit transaction who takes on an obligation/payable. b. the party who receives a receivable and will collect cash in the future. c. a written promise to pay a specified amount of money at a particular future date. d. the date when the note receivable is due. e. a miscellaneous category that includes any other type of receivable where there is a right to receive cash in the future. f. the right to receive cash in the future from customers for goods sold or for services performed.

Answers: 1

Answer

You know the right answer?

Biscayne Bay Water Inc. bottles and distributes spring water. On May 14 of the current year, Biscayn...

Questions