If treasury stock is ______ (The same price the corporation paid for it) there is no...
If treasury stock is ______ (The same price the corporation paid for it) there is no difference between the cost per share and the sale price per share to journalize.
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Answer:
If Treasury Stock is sold at the same price the corporation paid for it, there is no difference between the cost per share and the sale price per share to journalize.
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If treasury stock is ______ (The same price the corporation paid
for it) there is no...
A company buys treasury stock for $10 per share. The company later sells the treasury stock...
A company buys treasury stock for $10 per share. The company later sells the treasury stock for $11 per share. What is the difference between the resale price and the cost of the treasury stock called? A. Paid - in Capital in Excess of Par B. Gain on Sale of Treasury Stock C. Loss on Sale of Treasury Stock D. Paid - in Capital from Treasury Stock Transactions
The account Paid-In Capital from Treasury Stock Transactions has a credit balance of $1,500. The corporation...
The account Paid-In Capital from Treasury Stock Transactions has a credit balance of $1,500. The corporation resells 350 shares of its treasury stock. These shares were acquired for $12.00 per share and sold for $1 00 per share. The entry to record the sale of treasury stock includes a debit to Retained Earnings of $3,850 O True O False
Please answer in same format. 7. On January 3, Spartan Corporation purchased 1,900 shares of the...
Please answer in same format.
7. On January 3, Spartan Corporation purchased 1,900 shares of the company's S1 par value common stock as treasury stock, paying cash of $8 per share. On January 30, Spartan sold 1,400 shares of the treasury stock for cash of S9 per share. Journalize these transactions. (Record debits first, then credits. Select the explanation on the last line of the joumal entry tablo.) Journalize the purchase of the treasury stock. Date Accounts and Explanation Debit...
Treasury Stock Transactions Mystic Lake Inc. bottles and distributes spring water. On July 9 of the...
Treasury Stock Transactions Mystic Lake Inc. bottles and distributes spring water. On July 9 of the current year, Mystic Lake reacquired 3,800 shares of its common stock at $72 per share. On September 22, Mystic Lake sold 2,700 of the reacquired shares at $78 per share. The remaining 1,100 shares were sold at $69 per share on November 23. a. Journalize the transactions of July 9, September 22, and November 23. If an amount box does not require an entry,...
Treasury Stock Coastal Corporation issued 25,000 shares of $8 par value common stock at $20 per...
Treasury Stock Coastal Corporation issued 25,000 shares of $8 par value common stock at $20 per share and 6,000 shares of $53 par value, eight percent preferred stock at $61 per share. Later, the company purchased 3,000 shares of its own common stock at $23 per share. a. Prepare the journal entries to record the share issuances and the purchase of the common shares. b. Assume that Coastal sold 2,000 shares of the treasury stock at $29 per share. Prepare...
Treasury Stock Coastal Corporation issued 25,000 shares of $6 par value common stock at $18 per...
Treasury Stock Coastal Corporation issued 25,000 shares of $6 par value common stock at $18 per share and 6,000 shares of $50 par value, eight percent preferred stock at $79 per share. Later, the company purchased 3,000 shares of its own common stock at $21 per share. a. Prepare the journal entries to record the share issuances and the purchase of the common shares. b. Assume that Coastal sold 2,000 shares of the treasury stock at $27 per share. Prepare...
Treasury Stock Inland Corporation issued 30,000 shares of $5 par value common stock at $15 per...
Treasury Stock Inland Corporation issued 30,000 shares of $5 par value common stock at $15 per share and 8,000 shares of $50 par value, eight percent preferred stock at $85 per share. Later, the company purchased 3,000 shares of its own common stock at $20 per share. X X 0x X X a. Prepare the journal entries to record the share issuances and the purchase of the common shares. b. Assume that Inland sold 2,000 shares of the treasury stock...
Westglow Corporation purchased 3,000 shares of its $5 par value common stock for a cash price...
Westglow Corporation purchased 3,000 shares of its $5 par value common stock for a cash price of $10 per share. Two months later, Westglow sold the treasury stock for a cash price of $8 per share. Prepare the journal entry to record the sale of the treasury stock assuming (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) (a) No balance in Paid-in Capital from Treasury Stock. (b) A $4,000 balance in Paid-in Capital...
Problem 11-24A Analyzing journal entries for treasury stock transactions LO 11-4, 11-5 The following correctly prepared entries without explanations pertain to Corners Corporation: Account Title D...
Problem 11-24A Analyzing journal entries for treasury
stock transactions LO 11-4, 11-5
The following correctly prepared entries without explanations
pertain to Corners Corporation:
Account Title
Debit
Credit
1.
Cash
1,800,000
Common Stock
1,000,000
Paid-in Capital in Excess of Par Value
800,000
2.
Treasury Stock
44,800
Cash
44,800
3.
Cash
38,000
Treasury Stock
35,200
Paid-in Capital in Excess of Cost of Treasury Stock
2,800
The original sale (Entry 1) was for 400,000 shares, and the
treasury stock was acquired for $8...
Treasury Stock Transactions Biscayne Bay Water Inc. bottles and distributes spring water. On May 14 of...
Treasury Stock Transactions Biscayne Bay Water Inc. bottles and distributes spring water. On May 14 of the current year, Biscayne Bay Water reacquired 23,500 shares of its common stock at $75 per share. On September 6, Biscayne Bay Water sold 14,000 of the reacquired shares at $81 per share. The remaining 9,500 shares were sold at $72 per share on November 30. a. Journalize the transactions of May 14, September 6, and November 30. For a compound transaction, if an...
The account Paid-In Capital from Treasury Stock Transactions has a credit balance of $1,500. The corporation resells 350 shares of its treasury stock. These shares were acquired for $12.00 per share and sold for $1 00 per share. The entry to record the sale of treasury stock includes a debit to Retained Earnings of $3,850 O True O False
Please answer in same format.
7. On January 3, Spartan Corporation purchased 1,900 shares of the company's S1 par value common stock as treasury stock, paying cash of $8 per share. On January 30, Spartan sold 1,400 shares of the treasury stock for cash of S9 per share. Journalize these transactions. (Record debits first, then credits. Select the explanation on the last line of the joumal entry tablo.) Journalize the purchase of the treasury stock. Date Accounts and Explanation Debit...
Treasury Stock Coastal Corporation issued 25,000 shares of $8 par value common stock at $20 per share and 6,000 shares of $53 par value, eight percent preferred stock at $61 per share. Later, the company purchased 3,000 shares of its own common stock at $23 per share. a. Prepare the journal entries to record the share issuances and the purchase of the common shares. b. Assume that Coastal sold 2,000 shares of the treasury stock at $29 per share. Prepare...
Treasury Stock Coastal Corporation issued 25,000 shares of $6 par value common stock at $18 per share and 6,000 shares of $50 par value, eight percent preferred stock at $79 per share. Later, the company purchased 3,000 shares of its own common stock at $21 per share. a. Prepare the journal entries to record the share issuances and the purchase of the common shares. b. Assume that Coastal sold 2,000 shares of the treasury stock at $27 per share. Prepare...
Treasury Stock Inland Corporation issued 30,000 shares of $5 par value common stock at $15 per share and 8,000 shares of $50 par value, eight percent preferred stock at $85 per share. Later, the company purchased 3,000 shares of its own common stock at $20 per share. X X 0x X X a. Prepare the journal entries to record the share issuances and the purchase of the common shares. b. Assume that Inland sold 2,000 shares of the treasury stock...
Problem 11-24A Analyzing journal entries for treasury
stock transactions LO 11-4, 11-5
The following correctly prepared entries without explanations
pertain to Corners Corporation:
Account Title
Debit
Credit
1.
Cash
1,800,000
Common Stock
1,000,000
Paid-in Capital in Excess of Par Value
800,000
2.
Treasury Stock
44,800
Cash
44,800
3.
Cash
38,000
Treasury Stock
35,200
Paid-in Capital in Excess of Cost of Treasury Stock
2,800
The original sale (Entry 1) was for 400,000 shares, and the
treasury stock was acquired for $8...
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