Freight-In is an adjunct-purchases account to which ...

[Themember4]

Freight-In is an adjunct-purchases account to which transportation charges on merchandise purchases are debited.
 a. True
   b. False
   Indicate whether the statement is true or false

Question 2

Team Shirts had 25,000 shares of 1.00 par value common stock outstanding. It bought back 500 shares for 15.50 in the stock market to use for employee bonuses. On December 10, Team Shirts gave 250 shares to its employees as holiday bonuses.
 
  On December 31:
  1. How many shares are outstanding?
  2. How many shares are still held as treasury stock?
  What will be an ideal response?

[Jayson]

Answer to Question 1

True

Answer to Question 2

1. 25,000 - 500 + 250 = 24,750 shares
2. 500  250 = 250 shares

[Themember4]

Thanks for the timely response, appreciate it

[LVPMS]

Excellent