Business, 02.03.2020 19:24, lisnel

Pina Inc. has outstanding 10,500 shares of $10 par value common stock. On July 1, 2020, Pina reacquired 104 shares at $87 per share. On September 1, Pina reissued 63 shares at $90 per share. On November 1, Pina reissued 41 shares at $83 per share. Prepare Pina’s journal entries to record these transactions using the cost method

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answered: aaliyahmaile13

Please see explanation

Explanation:

The following journal entries shall be recorded by the Pina Inc in its accounts for the transactions mentioned in the question:

July 1, 2020 Debit Credit

Treasury shares $9,048

(104*87)

Bank $9,048

(Reacquiring of 104 shares at $87 per share)

September 1, 2020 Debit Credit

Bank $5,670

(63*90)

Treasury shares $5,481

(63*87)

Paid in capital $189

(5,670-3,567

(Reissuing of 63 shares at $90 per share)

November 1, 2020 Debit Credit

Bank $3,403

(41*83)

Paid in capital $164

(3,567-3,403)

Treasury shares $3,567

(41*87)

(Reissuing of 41 shares at $83 per share)

answered: Guest

Ithink the answer is b

answered: Guest

you will have $2593.74 in 10 years if you set aside $1,000 at 10%

you will have $9321.91 in 20 years if you set aside $2000 at 8%

you will have $1469.32 in 5 years if you set aside $1000 at 8%

you will have $1296.87 in 10 years if you set aside $500 at 10%

you will have $239.66 in 15 years if you set aside $100 at 6%

you will have $4660.96 in 20 years if you set aside $1000 at 8%

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Pina Inc. has outstanding 10,500 shares of $10 par value common stock. On July 1, 2020, Pina reacqui...