Brief Exercise 11-5 On July 1, Raney Corporation purchases 520 shares of its $7 par value...
Brief Exercise 11-5
On July 1, Raney Corporation purchases 520 shares of its $7 par
value common stock for the treasury at a cash price of $9 per
share. On September 1, it sells 370 shares of the treasury stock
for cash at $13 per share.
Journalize the two treasury stock transactions. (Record
journal entries in the order presented in the problem. Credit
account titles are automatically indented when amount is entered.
Do not indent manually. If no entry is required, select "No entry"
for the account titles and enter 0 for the
amounts.)
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Date |
Account Titles and Explanation |
Debit |
Credit |
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July
1Sept. 1Homework Answers
| Date | Account | Debit | Credit |
|---|---|---|---|
| July 1 | Treasury stock | 4,680 | |
| Cash | 4,680 | ||
| (520*9) | |||
| Sep 1 | Cash (370*13) | 4810 | |
| Treasury stock (370*9) | 3330 | ||
| Paid in capital in excess of par - Treasury stock | 1480 | ||
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Brief Exercise 11-5
On July 1, Raney Corporation purchases 520 shares of its $7 par
value...
On July 1, Shamrock, Inc. purchases 510 shares of its $5 par value common stock for...
On July 1, Shamrock, Inc. purchases 510 shares of its $5 par value common stock for the treasury at a cash price of $8 per share. Journalize the treasury stock transaction. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit Treasury Stock 2550 Cash 2550 Cash
On July 1, Skysong, Inc. purchases 430 shares of its $5 par value common stock for...
On July 1, Skysong, Inc. purchases 430 shares of its $5 par value common stock for the treasury at a cash price of $8 per share. Journalize the treasury stock transaction. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit
On July 1. Splish Brothers Inc, purchases 580 shares of its 55 par value common stock...
On July 1. Splish Brothers Inc, purchases 580 shares of its 55 par value common stock for the treasury at a cash price of $10 per share Journalize the treasury stock transaction. Credit account titles are automatically indented when amount amounts entered. Do not indent manually. If no entry is required, select "No Entry for the account tities and enter for the Account Titles and Explanation Debit
Brief Exercise 11-5 Swifty Corporation issues 5,150 shares of $120 par value preferred stock for cash...
Brief Exercise 11-5 Swifty Corporation issues 5,150 shares of $120 par value preferred stock for cash at $135 per share. Journalize the issuance of the preferred stock. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit Question Attempts: 0 of 3 used SAVE FOR LATER SUBMIT ANSWER
Brief Exercise 11-2 On May 10, Jack Corporation issues 2,200 shares of $13 par value common...
Brief Exercise 11-2
On May 10, Jack Corporation issues 2,200 shares of $13 par value
common stock for cash at $21 per share.
Journalize the issuance of the stock. (Credit account
titles are automatically indented when amount is entered. Do not
indent manually. If no entry is required, select "No entry" for the
account titles and enter 0 for the amounts.)
Date
Account Titles and Explanation
Debit
Credit
May 10
Brief Exercise 11-04 Kingbird, Inc. issues 7,500 shares of $101 par value preferred stock for cash...
Brief Exercise 11-04 Kingbird, Inc. issues 7,500 shares of $101 par value preferred stock for cash at $110 per share. Journalize the issuance of the preferred stock. (Credit account titles are automatically indented when amount is entered. De mot indent manually. If me entry Account Titles and Explanation Debit Credit
Exercise 11-3 During its first year of operations, Concord Corporation had the following transactions pertaining to...
Exercise 11-3 During its first year of operations, Concord Corporation had the following transactions pertaining to its common stock. Jan. 10 Issued 66,500 shares for cash at $6 per share. July 1 Issued 39,500 shares for cash at $8 per share. Journalize the transactions, assuming that the common stock has a par value of $6 per share. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent...
FULL SCREEN PRINTER VERSION BACK NEXT Exercise 11-9 On January 1, 2019, the stockholders' equity section...
FULL SCREEN PRINTER VERSION BACK NEXT Exercise 11-9 On January 1, 2019, the stockholders' equity section of Matlock, Inc. shows common stock (54 par value) $1,200,000; pad in capital in excess of par $1,050,000; and retained earnings $1,240,000 During the year, the following treasury stock transactions occurred Mar 1 Purchased 51,000 shares for cash at $15 per share July 1 Sold 11,000 treasury shares for cash at $17 per share Sept. 1 Sold 9,000 treasury shares for cash at $14...
Brief Exercise 15-8 Concord Inc. has outstanding 13,600 shares of $10 par value common stock. On...
Brief Exercise 15-8 Concord Inc. has outstanding 13,600 shares of $10 par value common stock. On July 1, 2017, Concord reacquired 105 shares at $87 per share. On September 1, Concord reissued 63 shares at $90 per share. On November 1, Concord reissued 42 shares at $85 per share. Prepare Concord's journal entries to record these transactions using the cost method. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required,...
Exercise 11-3 During its first year of operations, Foyle Corporation had the following transactions pertaining to...
Exercise 11-3 During its first year of operations, Foyle Corporation had the following transactions pertaining to its common stock. Jan. July 10 Issued 65,500 shares for cash at $5 per share. 1 Issued 43,000 shares for cash at $10 per share. Journalize the transactions, assuming that the common stock has a par value of $5 per share. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent...
On July 1, Shamrock, Inc. purchases 510 shares of its $5 par value common stock for the treasury at a cash price of $8 per share. Journalize the treasury stock transaction. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit Treasury Stock 2550 Cash 2550 Cash
On July 1, Skysong, Inc. purchases 430 shares of its $5 par value common stock for the treasury at a cash price of $8 per share. Journalize the treasury stock transaction. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit
On July 1. Splish Brothers Inc, purchases 580 shares of its 55 par value common stock for the treasury at a cash price of $10 per share Journalize the treasury stock transaction. Credit account titles are automatically indented when amount amounts entered. Do not indent manually. If no entry is required, select "No Entry for the account tities and enter for the Account Titles and Explanation Debit
Brief Exercise 11-5 Swifty Corporation issues 5,150 shares of $120 par value preferred stock for cash at $135 per share. Journalize the issuance of the preferred stock. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit Question Attempts: 0 of 3 used SAVE FOR LATER SUBMIT ANSWER
Brief Exercise 11-2
On May 10, Jack Corporation issues 2,200 shares of $13 par value
common stock for cash at $21 per share.
Journalize the issuance of the stock. (Credit account
titles are automatically indented when amount is entered. Do not
indent manually. If no entry is required, select "No entry" for the
account titles and enter 0 for the amounts.)
Date
Account Titles and Explanation
Debit
Credit
May 10
Brief Exercise 11-04 Kingbird, Inc. issues 7,500 shares of $101 par value preferred stock for cash at $110 per share. Journalize the issuance of the preferred stock. (Credit account titles are automatically indented when amount is entered. De mot indent manually. If me entry Account Titles and Explanation Debit Credit
Exercise 11-3 During its first year of operations, Concord Corporation had the following transactions pertaining to its common stock. Jan. 10 Issued 66,500 shares for cash at $6 per share. July 1 Issued 39,500 shares for cash at $8 per share. Journalize the transactions, assuming that the common stock has a par value of $6 per share. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent...
FULL SCREEN PRINTER VERSION BACK NEXT Exercise 11-9 On January 1, 2019, the stockholders' equity section of Matlock, Inc. shows common stock (54 par value) $1,200,000; pad in capital in excess of par $1,050,000; and retained earnings $1,240,000 During the year, the following treasury stock transactions occurred Mar 1 Purchased 51,000 shares for cash at $15 per share July 1 Sold 11,000 treasury shares for cash at $17 per share Sept. 1 Sold 9,000 treasury shares for cash at $14...
Brief Exercise 15-8 Concord Inc. has outstanding 13,600 shares of $10 par value common stock. On July 1, 2017, Concord reacquired 105 shares at $87 per share. On September 1, Concord reissued 63 shares at $90 per share. On November 1, Concord reissued 42 shares at $85 per share. Prepare Concord's journal entries to record these transactions using the cost method. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required,...
Exercise 11-3 During its first year of operations, Foyle Corporation had the following transactions pertaining to its common stock. Jan. July 10 Issued 65,500 shares for cash at $5 per share. 1 Issued 43,000 shares for cash at $10 per share. Journalize the transactions, assuming that the common stock has a par value of $5 per share. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent...
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