Question

Question 15 6 points Save Answ Use the following information to answer the question below. On January 1, 20x5, Falcon Corpora
0 0
Add a comment Improve this question Transcribed image text
Answer #1

Calculate gain due to these treasury stock

Gain = (26-19)*3100 = 21700

So answer is a) $21700

Add a comment
Know the answer?
Add Answer to:
Question 15 6 points Save Answ Use the following information to answer the question below. On...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Question 3 6 points Save Ansi On January 1, 20x5, Dove Valley Corporation had 100,000 shares...

    Question 3 6 points Save Ansi On January 1, 20x5, Dove Valley Corporation had 100,000 shares of $10 par value common stock issued and outstanding. All 100,000 shares had been issued in a prior period at $30 per share. On February 1, 20x5, Dove Valley purchased 4,000 shares of treasury stock for $36 per share and later sold the treasury shares for $40 per share on March 2, 20x5. The entry to record the purchase of the treasury shares on...

  • guante question will save this response. Question : Question 1 16 points s Match each of...

    guante question will save this response. Question : Question 1 16 points s Match each of the following stockholders' equity concepts to the most appropriate term (a-h). The account used to record the difference when issue price exceeds a. authorized shares par value of stock 3 b , issued shares The dollar amount assigned to each share of stock outstanding shares The number of shares currently held by stockholders d . par value • A class of stock having first...

  • On January 1, Vermont Corporation had 36,200 shares of $12 par value common stock issued and...

    On January 1, Vermont Corporation had 36,200 shares of $12 par value common stock issued and outstanding. All 36,200 shares had been issued in a prior period at $20 per share. On February 1, Vermont purchased 1,100 shares of treasury stock for $25 per share and later sold the treasury shares for $22 per share on March 1. The journal entry to record the purchase of the treasury shares on February 1 would include a a.credit to Treasury Stock for...

  • On January 1, Vermont Corporation had 44,300 shares of $9 par value common stock issued and...

    On January 1, Vermont Corporation had 44,300 shares of $9 par value common stock issued and outstanding. All 44,300 shares had been issued in a prior period at $21 per share. On February 1, Vermont purchased 1,100 shares of treasury stock for $28 per share and later sold the treasury shares for $18 per share on March 1. The journal entry to record the purchase of the treasury shares on February 1 would include a a.debit to Treasury Stock for...

  • On January 1, Vermont Corporation had 35,300 shares of $12 par value common stock issued and...

    On January 1, Vermont Corporation had 35,300 shares of $12 par value common stock issued and outstanding. All 35,300 shares had been issued in a prior period at $22 per share. On February 1, Vermont purchased 1,140 shares of treasury stock for $25 per share and later sold the treasury shares for $20 per share on March 1. The journal entry to record the purchase of the treasury shares on February 1 would include a a.credit to Treasury Stock for...

  • At the start of 20X5, Evans Corp. had 15,000 shares of $6 par common stock issued...

    At the start of 20X5, Evans Corp. had 15,000 shares of $6 par common stock issued and outstanding. All 15,000 shares had been issued in the prior year for $20 per On February 1, 20X5, Evans repurchased 2,000 shares of its own stock for $12 per share. It plans to reissue these shares at a future time. Question: What journal entry should Evans make to record the February 1, 20X5 transaction? Answer: It should debit | for $ and credit...

  • 15-15 Required: Prepare memorandum and journal entries to record the preceding transactions. 16.15 Treasury stock, Cost...

    15-15 Required: Prepare memorandum and journal entries to record the preceding transactions. 16.15 Treasury stock, Cost Method On January 1. Larain Corporation had 2.000 shares of Par 187 authorized and outstanding. These shares were originally issued at a price of $26 per These shares were originally issued at a price of $26 per share. In addition, 500 shares of $50 par preferred stock were outstanding. These were issued at a price of 7o Pet following stock transactions occurred: outstanding. These...

  • Bohemian Company PLEASE answer promptly and show ALL work. Question 8 O out of 0.5 points...

    Bohemian Company PLEASE answer promptly and show ALL work. Question 8 O out of 0.5 points Bohemian Company has 500,000 shares of no par common stock with a stated value of $8 per share issued and outstanding as of January 1, originally issued for $14 per share. During 2018, Bohemian Company had the following transactions involving its own stock: • On March 6, acquired 26,560 shares of treasury stock at a cost of $12 per share • On April 18,...

  • The information below pertains to Blue Company for 2018. $1,140,000 1,900,000 Net income for the year 6% convertible bo...

    The information below pertains to Blue Company for 2018. $1,140,000 1,900,000 Net income for the year 6% convertible bonds issued at par ($1,000 per bond); each bond is convertible into 20 shares of common stock 6% convertible, cumulative preferred stock, $100 par value; each share is convertible into 5 shares of common stock Tax rate for 2018 Average market price of common stock 3,870,000 40% $25 per share There were 570,000 shares of shares of common stock outstanding on 1/1/2018....

  • Remaialng Time: 2 hors, 20 minben, 28 secods Question Completion Status Path p QUESTION 13 Diesel-Vann...

    Remaialng Time: 2 hors, 20 minben, 28 secods Question Completion Status Path p QUESTION 13 Diesel-Vann Company Problem 2 Diesel-Vann Company has 750.000 shares of $40 par value preferred stock authorizred. During 2017, had the following transactions related to ies preferred stock (a) Issued 15,000 shares at $56 per share (b) Issued 7O,000 shares for Warehouse having a $6,800,000 asking price. The stock had a market value of $69 per share Instructions: Jounalize the transactions JohnWright Corporation Problem 3 JohnWhight...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT