Gangadhar Co. went for buy back of 1000 share @100 at a premium of 20%. For the

Fantastic news! We've Found the answer you've been seeking!

Question:

Gangadhar Co. went for buy back of 1000 share @100 at a premium of 20%. For the buyback it decided to utilize security premium account which has an existing balance of 200000. Buyback expenses stood at 5700.

Pass the journal entry

Related Book For answer-question

Income Tax Fundamentals 2013

ISBN: 9781285586618

31st Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

See More Books

Posted Date: Feb 09, 2023 03:08 AM

See More Questions

The time required to pass through security screening at the airport can be annoying to travelers. The mean wait time during peak periods at Cincinnati/Northern Kentucky International Airport is 12.1...
A corporation has decided to replace an existing asset with a newer model. Two years ago, the existing asset originally cost $30,000 and was being depreciated under MACRS using a five-year recovery...
Security Service Companys Accounts Receivable account shows a debit balance of $104,000 at the end of the year. An aging analysis of the individual accounts indicates estimated uncollectible accounts...
The character wrapper class provides numerous methods for O a. adding two char variables b. testing and converting char variables O c. testing string objects O d. converting string variables
What are the conditions for third normal form (3NF)?
Sticky Wicket (SW) manufactures cricket bats using high quality wood and skilled labour using mainly traditional manual techniques. The manufacturing department is a cost centre within the business...
Table B. 22 contains data on 1916 team performance for Major League Baseball. Use all possible regressions to build a model for this data. Perform a residual analysis on the final model and comment...
Suppose that the attorney the Metzgars hired agreed to represent them on a contingency-fee basis. What does that mean? Ronald Metzgar placed his fifteen-month-old son, Matthew, awake and healthy, in...
Consider the following data set and the piecewise cubic function {(0,0), (1, 1), (2,5)}, - C(x): = { x+(181)x(x-1) + (81 +82 2)x2(x 1) - if x [0,1] 1+4(x-1)+(482) (x-1)(x-2)+ (82 + 83 - 8)(x-1)2(x-2)...
1. Case Exhibit 2 presents monthly data of units produced and sold, and actual costs incurred, for 24 months. B Create a scatterplot of costs and units. b. From your scatterplot, estimate the...
6. The start up are running business and want to minimize equipment expenses. For a particular piece of equipment, the costs can be broken into initial outlays to buy the equipment, fixed annual...
What are the factors that led international trade and global financial flows to rise over recent decades? Do you expect international trade and global financial flows to continue to grow? Why or why...
Is inflation more costly when it is expected, or unexpected?
What can you tell about an aggregate production function if real GDP per worker increases by 10% in response to all of the inputs increasing by 10%? What would you expect to happen if you doubled all...
At your future job, you get an unexpected raise from $50,000 a year to $75,000 a year. How do your consumption and savings change? Provide a rough estimate of your marginal propensity to consume.
The 1990s was a period of rapid economic growth and a robust stock market that yielded an average annual return of 18.6%! a. If you started with $1,000 in stocks at the beginning of the decade, and...
You are the engagement partner of the entity Fish Farms. The company operates salmon farms in Canada and Chile, mainly supplying the American and Asian markets with fresh and frozen salmon. You have...
B.) What is the approximate concentration of free Zn 2+ ion at equilibrium when 1.0010 -2 mol zinc nitrate is added to 1.00 L of a solution that is 1.080 M in OH - . For [Zn(OH) 4 ] 2- , K f = 4.610...
Kent Pham, CPA, is a 45-year-old single taxpayer living at 169 Trendie Street, La Jolla, CA 92037. His Social Security number is 865-68-9635. In 2012, Kent's W-2 as the controller of a local...
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-7. Ivan sold the following securities during the year and received a Form 1099-B that...
Dr. George E. Beeper is a single taxpayer. He lives at 45 Mountain View Dr., Apt. 321, Spokane, WA 99210. Dr. Beeper's Social Security number is 775-88-9531. Dr. Beeper works for the Pine Medical...
A proton with an initial speed of $800,000 \mathrm{~m} / \mathrm{s}$ is brought to rest by an electric field. a. Did the proton move into a region of higher potential or lower potential? b. What...
Three electrodes, $1-3$, are attached to a patient as shown in Figure P21.26. During ventricular depolarization (see Figure 21.29), across which pair of electrodes is the magnitude of the potential...
a. What is the electric potential at points A, B, and C in Figure P21.16? b. What is the potential energy of an electron at each of these points? c. What are the potential differences \(\Delta...

Gangadhar Co. went for buy back of 1000 share @100 at a premium of 20%. For the

Question:

Expert Answer:

Income Tax Fundamentals 2013

Students also viewed these accounting questions