Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. on december 30th, management completed negotiation

On December 30th, management completed negotiations with one of their suppliers to cover the $28,000...

80.2K

Verified Solution

Question

Accounting

On December 30th, management completed negotiations with one of their suppliers to cover the $28,000 account with shares of stock. They issued the supplier 7,200 shares of the treasury stock they originally purchased on November 15th for $8/share.

make appropriate journal entries for recording the payment on A?P with treasury stock.

Make appropriate journal entry for recording the tax effect of the payment on account.

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: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Psychology
1.2K views

Discuss how technology is used and related to boundary-less in police activities. Include an example in...

Physics
1.2K views

Please give me 2 examples of angular analoge of newton's 3rd law of motion on cricket...

Physics
1.2K views

4 51 A particle of mass m having collides with a stationary particle of mass...

Physics
1.2K views

1 A cylinder of length 10 cm made of material of density 0 65 g...

Algebra
1.2K views

A flagpole casts a shadow of 25 ft Nearby a 7 ft tree casts a...

Accounting
1.2K views

Giant Dragon has three customers: Andrew, Pat and Sarah. The store wants to pick up...

Accounting
1.2K views

Current Attempt in Progress Cullumber Cap Springs produces and sells water filtration systems for homeowners....

Accounting
1.2K views

Crane Ltd. has these transactions related to intangible assets and goodwill in 2018, its first...

Accounting
1.2K views

Please correctly go through the questions. They're all linked to each other Please make...

Accounting
1.2K views

As a result of a slowdown in operations, Mercantile Stores is offering to employees who...

Accounting
1.2K views

Identifying and Recording Impairment Loss on Equipment Bolt Company purchased equipment on January 1, 2018,...

Finance
1.2K views

Companies often buy bonds to meet a future liability or cash outlay. Such an investment...