In 2018, Borland Semi-conductors entered into the transactions described below. In 2015, Borland had issued 195 million shares of its $1 par common stock at $39 per share.
Required:
1. On January 2, 2018, Borland re-acquired 12 million shares at $37.50 per share.
2. On March 3, 2018, Borland re-acquired 12 million shares at $41 per share.
3. On August 13, 2018, Borland sold 1 million shares at $47 per share.
4. On December 15, 2018, Borland sold 2 million shares at $41 per share.

Solution :

Serial No.   Date given        Journal                          Debit                Credit

1).              02 Jan, 2018      Common stock              $ 12

                                            Paid-in-capital    

                                             excess of the par          $ 456

                                            Paid-in-capital    

                                             share repurchased                                 $ 18

                                             Cash                                                         $ 450

2).           03 March, 2018    Common-stock              $ 12

                                            Paid-in-capital    

                                             excess of the par          $ 456

                                            Paid-in-capital    

                                             share repurchased       $18  

                                            Retained earnings         $ 6

                                              Cash                                                       $ 492

3).          15 Dec, 2018          Cash                              $ 82

                                            Common-stock                                         $ 2

                                            Paid-in-capital

                                             excess of the par                                     $ 80                  

In the case of an expansionary_____policy, the interest rate rises, while in the case of an expansionary _____ policy, the interest rate falls.
Select one:
a. fiscal; monetary
b. monetary, monetary
c. monetary, fiscal
d. fiscal; fiscal

= fiscal; monetary​

Identify the importance of accounting by selecting the statement that is correct below. Multiple choice question. Accounting information helps users make business and financial decisions. Accounting is a system that identifies, records and communicates an organization's business activities. Accounting information is primarily used only at the end of a year when tax returns and financial statements are prepared.