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Author Question: Freight-In is an adjunct-purchases account to which transportation charges on merchandise purchases ... (Read 223 times)

Themember4

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on: Jul 5, 2018
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?


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Jayson

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Reply #1 on: Jul 5, 2018
Answer to Question 1

True

Answer to Question 2

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


Themember4

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Reply 2 on: Jul 5, 2018
Excellent

komodo7

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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