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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Answer from: 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)

Answer from: Quest

Some disadvantages to leasing a car is that you are counting on someone to give you money every week or month depending on what you decided and if they don't have all of it well what if you needed that money now you as well have to pay not in full. a disadvantages to purchasing a new vehicle is if it is used then not all the time will absolutely everything work. its almost like a trail and era. although if it is a new car they will try to though all these specials and deals at you in your lease and it can be very overwhelming if you are not use to it.

Answer from: Quest

disadvantages of leasing a vehicle: no vehicle equity and mileage limitations

disadvantages of purchasing a vehicle: large down payment and vehicle depreciation

#plato4lyfe

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