Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 19 on february 1,2022, cue company acquired 1,800

19 On February 1,2022, Cue Company acquired 1,800 shares of its $1 par value...

50.1K

Verified Solution

Question

Accounting

19
On February 1,2022, Cue Company acquired 1,800 shares of its $1 par value stock for $55 per share and held these shares in treasury. On April 10
2023, Cue resold all the treasury shares for $58 per share. Which of the following entries would be recorded when Cue Company resells the shares of
treasury stock?
801:01:15
Multiple Choice
\table[[Account Title,Debit,Credit],[Cash,104,400,],[Treasury stock,,99,000],[Retained earnings,,5,400]]
image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Using tkinter, create a GUI interface which accepts input of annual income. Using the table below, determine...

Programming
Q

What message does Jefferson express in the opening paragraph of his second inaugural address He...

Biology
Q

What are aflatoxins?A mycotoxin produced by Candida albicansA drug used to treat migraine headachesA fungal...

Biology
Q

How does neurotransmitter released by the neuron at the NMJ cause a signal at tl...

Biology
Q

9 6 when current passes through it if average The resistance of nichrome becomes 85...

Physics
Q

Test 10 4 to 10 7 Geometry 1 The figures in each pair are similar...

Geometry
Q

Let f(x) = 5x-3x and g(x)=x-x+3. Find (f+g)(x), (f-g)(x), (fg)(x), and A(f+g)(x) = 6x -...

Basic Math
Q

Write the expression below as a trigonometric function of a single angle Then evaluate cos...

Algebra
Q

Revenue from fees $1,677,000 \table[[Operating expenses (excluding depreciation),$1,288,000,],[Depreciation expense,114,000,],[Gain on sale of...

Accounting
Q

On January 1, 2011 Company X acquired 80% of the common stock of Company Y...

Accounting
Q

Discuss the concepts and formation of partnership, its advantages, and disadvantages. Give an example of...

Accounting
Q

Do you agree with the following statement: Any one of the systems documentation procedures can...

Accounting