ACC 577 help A Guide to career/uophelp.com ACC 577 help A Guide to career/uophelp.com | Page 38

should Dorr report in its 2005 income statement for subscriptions
revenue?
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ACC 577 Week 4 Quiz (100 % Correct Answers)
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Week 4 Quiz
All Questions Details given below (Please Check)
Question 1
Treasury stock was acquired for cash at a price in excess of its original
issue price. The treasury stock was subsequently reissued for cash at a
price in excess of its acquisition price. Assuming that the par value
method of accounting for treasury stock transactions is used, what is the
effect on total stockholders' equity of each of the following events?
Question 2
Murphy Co. had 200,000 shares outstanding of $10 par common stock
on March 30 of the current year. Murphy reacquired 30,000 of those
shares at a cost of $15 per share and recorded the transaction using the
cost method on April 15. Murphy reissued the 30,000 shares at $20 per