*** Please record Journal entries for a-d below ***
Homework Answers
| A | Cash (120,000*51) | 6,120,000 | |
| Common stock (120,000*5) | 600,000 | ||
| Paid in capital from common stock | 5,520,000 | ||
| B | Treasury stock | 966,000 | |
| Cash (21,000*46) | 966,000 | ||
| C | Cash (8000*47) | 376,000 | |
| Treasury stock (8000*46) | 368,000 | ||
| Paid in capital from treasury stock | 8,000 | ||
| D | Cash (8,000*45) | 360,000 | |
| Paid in capital from treasury stock | 8,000 | ||
| Treasury stock (8,000*46) | 368,000 | ||
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*** Please record Journal entries for a-d below ***
Global Marine obtained a charter from the...
Required information [The following information applies to the questions displayed below.) Global Marine obtained a cha...
Required information [The following information applies to the questions displayed below.) Global Marine obtained a charter from the state in January that authorized 1,000,000 shares of common stock, $5 par value. During the first year, the company earned $360,000 of net income, declared no dividends, and the following selected transactions occurred in the order given: a. Issued 120,000 shares of the common stock at $51 cash per share. b. Reacquired 21,000 shares at $46 cash per share. c. Reissued 8,000...
Required information [The following information applies to the questions displayed below) Global Marine obtained a charter...
Required information [The following information applies to the questions displayed below) Global Marine obtained a charter from the state in January that authorized 1,000,000 shares of common stock, $5 par value. During the first year, the company earned $500,000 of net income, declared no dividends, and the following selected transactions occurred in the order given: Issued 110.000 shares of the common stock at $65 cash per share b. Reacquired 35,000 shares at $60 cash per share. c. Reissued 15,000 shares...
Required information The following information applies to the questions displayed below Global Marine obtained a cha...
Required information The following information applies to the questions displayed below Global Marine obtained a charter from the state in January that authorized 1.000.000 shares of common stock. $5 par value. During the first year, the company earned $450,000 of net income declared no dividends, and the following selected transactions occurred in the order given a. Issued 120,000 shares of the common stock at $60 cash per share b. Reacquired 30,000 shares at $55 cash per share c Reissued 12.500...
Global Marine obtained a charter from the state in January that authorized 1,000,000 shares of common...
Global Marine obtained a charter from the state in January that authorized 1,000,000 shares of common stock, $5 par value. During the first year, the company earned $500,000 of net income, declared no dividends, and the following selected transactions occurred in the order given: Issued 110,000 shares of the common stock at $65 cash per share. Reacquired 35,000 shares at $60 cash per share. Reissued 15,000 shares from treasury for $61 per share. Reissued 15,000 shares from treasury for $59...
{The following information applies to the questions displayed below) Global Marine obtained a charter from the...
{The following information applies to the questions displayed below) Global Marine obtained a charter from the state in January that authorized 1,000,000 shares of common stock, $5 par value During the first year, the company earned $330,000 of net income and the following selected transactions occurred in the order given: a. Issued 120,000 shares of the common stock at $48 cash per share. b. Reacquired 18,000 shares at $43 cash per share. C Reissued 6,500 shares from treasury for $44...
Required information [The following information applies to the questions displayed below.) Part of 3 Global Marine...
Required information [The following information applies to the questions displayed below.) Part of 3 Global Marine obtained a charter from the state in January that authorized 1,000,000 shares of common stock. $5 par value. During the first year, the company earned $310,000 of net income, declared no dividends, and the following selected transactions occurred in the order given: 14.28 points eBook a. Issued 110,000 shares of the common stock at $46 cash per share. b. Reacquired 16,000 shares at $41...
Why are these wrong??? Required information PA11-1 Analyzing Accounting Equation Effects, Recording Journal Entries, and Preparing...
Why are these wrong???
Required information PA11-1 Analyzing Accounting Equation Effects, Recording Journal Entries, and Preparing a Partial Balance Sheet Involving Stock Issuance and Purchase Transactions [LO 11-2] [The following information applies to the questions displayed below] Global Marine obtained a charter from the state in January that authorized 1,000,000 shares of common stock, $5 par value. During the first year, the company earned $400,000 of net income, declared no dividends, and the following selected transactions occurred in the order...
Check my work Part 2 of 2 Required information PA11-1 Analyzing Accounting Equation Effects, Recording Journal...
Check my work Part 2 of 2 Required information PA11-1 Analyzing Accounting Equation Effects, Recording Journal Entries, and Preparing a Partial Balance Sheet Involving Stock Issuance and Purchase Transactions (LO 11-2] The following information applies to the questions displayed below) points Global Marine obtained a charter from the state in January that authorized 1,000,000 shares of common stock, $5 par value. During the first year, the company earned $300,000 of net income, declared no dividends, and the following selected transactions...
Required information The following information applies to the questions displayed below) Worldwide Company obtained a charter...
Required information The following information applies to the questions displayed below) Worldwide Company obtained a charter from the state in January that authorized 200.000 shares of common stock. $10 par value. During the first year, the company earned $37,900, declared no dividends, and the following selected transactions occurred in the order glven: a. Issued 57.000 shares of the common stock at $11 cash per share. b. Reacquired 1,700 shares at $14 cash per share from stockholders; the shares are now...
Whyville Corporation obtained its charter from the state in January that authorized 500,000 shares of common...
Whyville Corporation obtained its charter from the state in January that authorized 500,000 shares of common stock, $1 par value. During the first year, the company earned $61,000, declared no dividends, and the following selected transactions occurred in the order given: Issued 230,000 shares of the common stock at $26 cash per share. Reacquired 5,300 shares at $27 cash per share to use as stock incentives for senior management. Required information [The following information applies to the questions displayed below.]...
Required information [The following information applies to the questions displayed below.) Global Marine obtained a charter from the state in January that authorized 1,000,000 shares of common stock, $5 par value. During the first year, the company earned $360,000 of net income, declared no dividends, and the following selected transactions occurred in the order given: a. Issued 120,000 shares of the common stock at $51 cash per share. b. Reacquired 21,000 shares at $46 cash per share. c. Reissued 8,000...
Required information [The following information applies to the questions displayed below) Global Marine obtained a charter from the state in January that authorized 1,000,000 shares of common stock, $5 par value. During the first year, the company earned $500,000 of net income, declared no dividends, and the following selected transactions occurred in the order given: Issued 110.000 shares of the common stock at $65 cash per share b. Reacquired 35,000 shares at $60 cash per share. c. Reissued 15,000 shares...
Required information The following information applies to the questions displayed below Global Marine obtained a charter from the state in January that authorized 1.000.000 shares of common stock. $5 par value. During the first year, the company earned $450,000 of net income declared no dividends, and the following selected transactions occurred in the order given a. Issued 120,000 shares of the common stock at $60 cash per share b. Reacquired 30,000 shares at $55 cash per share c Reissued 12.500...
{The following information applies to the questions displayed below) Global Marine obtained a charter from the state in January that authorized 1,000,000 shares of common stock, $5 par value During the first year, the company earned $330,000 of net income and the following selected transactions occurred in the order given: a. Issued 120,000 shares of the common stock at $48 cash per share. b. Reacquired 18,000 shares at $43 cash per share. C Reissued 6,500 shares from treasury for $44...
Required information [The following information applies to the questions displayed below.) Part of 3 Global Marine obtained a charter from the state in January that authorized 1,000,000 shares of common stock. $5 par value. During the first year, the company earned $310,000 of net income, declared no dividends, and the following selected transactions occurred in the order given: 14.28 points eBook a. Issued 110,000 shares of the common stock at $46 cash per share. b. Reacquired 16,000 shares at $41...
Why are these wrong???
Required information PA11-1 Analyzing Accounting Equation Effects, Recording Journal Entries, and Preparing a Partial Balance Sheet Involving Stock Issuance and Purchase Transactions [LO 11-2] [The following information applies to the questions displayed below] Global Marine obtained a charter from the state in January that authorized 1,000,000 shares of common stock, $5 par value. During the first year, the company earned $400,000 of net income, declared no dividends, and the following selected transactions occurred in the order...
Check my work Part 2 of 2 Required information PA11-1 Analyzing Accounting Equation Effects, Recording Journal Entries, and Preparing a Partial Balance Sheet Involving Stock Issuance and Purchase Transactions (LO 11-2] The following information applies to the questions displayed below) points Global Marine obtained a charter from the state in January that authorized 1,000,000 shares of common stock, $5 par value. During the first year, the company earned $300,000 of net income, declared no dividends, and the following selected transactions...
Required information The following information applies to the questions displayed below) Worldwide Company obtained a charter from the state in January that authorized 200.000 shares of common stock. $10 par value. During the first year, the company earned $37,900, declared no dividends, and the following selected transactions occurred in the order glven: a. Issued 57.000 shares of the common stock at $11 cash per share. b. Reacquired 1,700 shares at $14 cash per share from stockholders; the shares are now...
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