Jacobs Corporation Has the Following Shareholders' Equity on December 31

question 64

Multiple Choice

Jacobs Corporation has the following shareholders' equity on December 31, 2014:
Shareholders' equity
-If 10,000 common shares were reacquired for $24 per share, the journal entry to record the transaction would

• A) credit Contributed Surplus-Reacquisition of Shares for $40,000.
• B) credit Retained Earnings for $40,000.
• C) credit Common Shares for $240,000.
• D) debit Common Shares for $200,000.

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Definitions:

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Cognitive-Behavioural Therapy

A psychotherapeutic approach that addresses dysfunctional emotions, behaviors, and cognitions through a goal-oriented, systematic process.

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