California Surf Clothing Company issues 1,000 shares of $1 par value common stock at $18 per share. Later in the year, the company decides to Purchase 100 shares at a cost of $21 per share.

Record the transaction if California Surf reissues the 100 shares of treasury stock at $40 per share.

The answer is given below;

Explanation:

Cash  (100*40) Dr.$4,000

Treasury Stock,Common 100*21    Cr.$2,100

Paid in Capital, treasury stock 100*(40-21) Cr.$1,900

Bonding rite

Explanation:

The picnic event organized by Russ's company is an example of a bonding rite. In other words, it is a team-building event. These events help a company establish trust between employees. They create an atmosphere where employees feel part of a team.

Bonding rites create new lines of communication in an organization. They strengthen ties between employees and keep them motivated in the workplace.