Talboe Co. issued 90,000 shares of $9 par common stock for $1,500,000. A year later Talboe acquired 12,000 shares of its own common stock at $12 per share. Three months later Talboe sold 5,000 of these shares at $20 per share. Talboe Co. uses the cost method to record treasury stock transactions. Select which is the correct journal entry when Talboe Co. sold the 5,000 shares of stock. a. Debit Cash $100,000; Credit Treasury Stock $60,000, Credit Paid in Capital Excess - Treasury Stock $40,000
b. Debit Cash $100,000; Credit Treasury Stock $100,000 Debit
c. Cash $100,000; Credit Treasury Stock $40,000, Credit Paid in Capital Excess - Treasury Stock $60,000
d. Debit Treasury Stock $60,000, Debit Paid in Capital Excess - Treasury Stock $40,000; Credit Cash $100,00

(05.04 mc) a 2012 report from the u. s. surgeon general stated: "another common practice is strategically locating tobacco-related marketing materials where young children will be exposed to them. tobacco industry executives acknowledge that products and advertising should be placed at eye level (pollay 2007), but in california, 48% of stores had at least one cigarette marketing item at or below 3 feet from the floor (feighery et al. 2001)." it was also noted that 25% of cigarette displays were next to candy. in addition, a national study found that about one-third of the stores had tobacco ads at low heights. after california banned counter displays, some stores place cigarettes in transparent displays so product brands could still be seen. why did some stores use transparent units to display the cigarettes? (3 points) to comply with the new rules while still encouraging cigarette purchases via visual exposure to ensure children and minors are not exposed to cigarettes and their eye-catching packaging to minimize exposure to humidity, extending the shelf life of the cigarettes' tobacco to reduce the occurrence of shoplifting, since cigarettes are high-revenue items

If jobs have been undercosted due to underallocation of manufacturing overhead, then cost of goods sold (cogs) is too low and which of the following corrections must be made? a. decrease cogs for double the amount of the underallocation b. increase cogs for double the amount of the underallocation c. decrease cogs for the amount of the underallocation d. increase cogs for the amount of the underallocation

For the year ended december 31, a company has revenues of $323,000 and expenses of $199,000. the company paid $52,400 in dividends during the year. the balance in the retained earnings account before closing is $87,000. which of the following entries would be used to close the dividends account?