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Brief Exercise 10-43 (Algorithmic) Accounting for Treasury Stock Onn August 19, 2019, Portland Corporation repurchases 1,700...
Brief Exercise 10-43 (Algorithmic) Accounting for Treasury Stock On August 19, 2019, Portland Corporation repurchases 8,900...
Brief Exercise 10-43 (Algorithmic) Accounting for Treasury Stock On August 19, 2019, Portland Corporation repurchases 8,900 shares of its outstanding common stock for $16 per share. On October 31, 2019, Portland sells 4,450 shares of treasury stock for $20 per share. Any additional sales of treasury stock during the year were sold for $11 per share. On December 31, 2019, Portland had no remaining treasury stock. Required: Prepare the necessary journal entries to record any transactions associated with treasury stock....
On August 19, 2019, Portland Corporation repurchases 5,500 shares of its outstanding common stock for $16...
On August 19, 2019, Portland Corporation repurchases 5,500 shares of its outstanding common stock for $16 per share. On October 31, 2019, Portland sells 1,650 shares of treasury stock for $24 per share. Any additional sales of treasury stock during the year were sold for $12 per share. On December 31, 2019, Portland had no remaining treasury stock. Required: Prepare the necessary journal entries to record any transactions associated with treasury stock. 2019 Aug. 19 Oct. 31 1111 111 HII...
Cornerstone Exercise 10-28 (Algorithmic) Accounting for Treasury Stock On February 1, 2019, Destiny Enterprise repurchases 770...
Cornerstone Exercise 10-28 (Algorithmic) Accounting for Treasury Stock On February 1, 2019, Destiny Enterprise repurchases 770 shares of its outstanding common stock for $9 per share. On March 1, 2019, Destiny sells 320 shares of treasury stock for $12 per share. On May 10, 2019, Destiny sells the remaining 450 shares of its treasury stock for $6 per share. Required: Prepare the journal entries to record these transactions. 2019 Feb. 1 (Record purchase of treasury shares) Mar. 1 TO 1...
Accounting for Treasury Stock On February 1, 2019, Destiny Enterprise repurchases 820 shares of its outstanding...
Accounting for Treasury Stock On February 1, 2019, Destiny Enterprise repurchases 820 shares of its outstanding common stock for $9 per share. On March 1, 2019, Destiny sells 320 shares of treasury stock for $12 per share. On May 10, 2019, Destiny sells the remaining 500 shares of its treasury stock for $6 per share. Required: Prepare the journal entries to record these transactions. 2019 Feb. 1 Treasury Stock Cash (Record purchase of treasury shares) Mar. 1 Cash Treasury Stock...
Brief Exercise 10-40 (Algorithmic) Recording the Sale of Common and Preferred Stock At the end of...
Brief Exercise 10-40 (Algorithmic) Recording the Sale of Common and Preferred Stock At the end of its first year of operations, Mulligan Corporation has outstanding shares of 82,000 common stock and 17,000 preferred stock. The State of Ohio authorized Mulligan to issue 18,000 shares of 6% preferred stock with a par value of $35 per share and 83,000 shares of common stock with a par value of $14 per share. Any preferred stock sold during the year had a selling...
Brief Exercise 10-40 (Algorithmic) Recording the sale of Common and Preferred Stock At the end of...
Brief Exercise 10-40 (Algorithmic) Recording the sale of Common and Preferred Stock At the end of its first year of operations, Mulligan Corporation has outstanding shares of 122,000 common stock and 13,000 preferred stock. The State of Ohio authorized Mulligan to issue 14,000 shares of 6% preferred stock with a par value of $50 per share and 123,000 shares of common stock with a par value of per share. Any preferred stock sold during the year had a selling price...
Brief Exercise 10-40 (Algorithmic) Recording the sale of Common and Preferred Stock At the end of...
Brief Exercise 10-40 (Algorithmic) Recording the sale of Common and Preferred Stock At the end of its first year of operations, Mulligan Corporation has outstanding shares of 152,000 common stock and 25,000 preferred stock. The State of Ohio authorized Mulligan to issue 26,000 shares of 6% preferred stock with a par value of $35 per share and 153,000 shares of common stock with a par value of $7 per share. Any preferred stock sold during the year had a selling...
Problem 10-84A (Algorithmic) Statement of Stockholders' Equity At the end of 2019, Jeffco Inc. had the...
Problem 10-84A (Algorithmic) Statement of Stockholders' Equity At the end of 2019, Jeffco Inc. had the following equity accounts and balances: Common stock, $10 par $800,000 Additional paid-in capital-common stock 200,000 Retained earnings 279,000 During 2020, Jeffco engaged in the following transactions involving its equity accounts: a. Sold 8,000 shares of common stock for $35 per share. b. Sold 1,000 shares of 9%, $120 par preferred stock at $125 per share. c. Declared and paid cash dividends of $14,000. d....
Problem 10-85A (Algorithmic) Common Dividends Pumpkin Accounting Corp. began 2019 with 1,000,000 authorized and 231,000 issued...
Problem 10-85A (Algorithmic) Common Dividends Pumpkin Accounting Corp. began 2019 with 1,000,000 authorized and 231,000 issued and outstanding $10 par common shares. During 2019, Pumpkin entered into the following transactions: Declared a $0.40 per-share cash dividend on March 10. Paid the $0.40 per-share dividend on April 10. Repurchased 8,000 common shares at a cost of $24 each on May 2. Sold 3,000 unissued common shares for $26 per share on June 9. Declared a $0.55 per-share cash dividend on August...
Kohler Corporation reports the following components of stockholders' equity at December 31, 2018. Common stock-$10 par...
Kohler Corporation reports the following components of stockholders' equity at December 31, 2018. Common stock-$10 par value, 100,000 shares authorized, 50,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 500,000 80,000 400,000 $ 980,000 During 2019, the following transactions affected its stockholders' equity accounts. Jan. 2 Purchased 5,000 shares of its own stock at $15 cash per share. Jan. 5 Directors declared a $4 per share cash dividend payable...
Brief Exercise 10-43 (Algorithmic) Accounting for Treasury Stock On August 19, 2019, Portland Corporation repurchases 8,900 shares of its outstanding common stock for $16 per share. On October 31, 2019, Portland sells 4,450 shares of treasury stock for $20 per share. Any additional sales of treasury stock during the year were sold for $11 per share. On December 31, 2019, Portland had no remaining treasury stock. Required: Prepare the necessary journal entries to record any transactions associated with treasury stock....
On August 19, 2019, Portland Corporation repurchases 5,500 shares of its outstanding common stock for $16 per share. On October 31, 2019, Portland sells 1,650 shares of treasury stock for $24 per share. Any additional sales of treasury stock during the year were sold for $12 per share. On December 31, 2019, Portland had no remaining treasury stock. Required: Prepare the necessary journal entries to record any transactions associated with treasury stock. 2019 Aug. 19 Oct. 31 1111 111 HII...
Cornerstone Exercise 10-28 (Algorithmic) Accounting for Treasury Stock On February 1, 2019, Destiny Enterprise repurchases 770 shares of its outstanding common stock for $9 per share. On March 1, 2019, Destiny sells 320 shares of treasury stock for $12 per share. On May 10, 2019, Destiny sells the remaining 450 shares of its treasury stock for $6 per share. Required: Prepare the journal entries to record these transactions. 2019 Feb. 1 (Record purchase of treasury shares) Mar. 1 TO 1...
Brief Exercise 10-40 (Algorithmic) Recording the Sale of Common and Preferred Stock At the end of its first year of operations, Mulligan Corporation has outstanding shares of 82,000 common stock and 17,000 preferred stock. The State of Ohio authorized Mulligan to issue 18,000 shares of 6% preferred stock with a par value of $35 per share and 83,000 shares of common stock with a par value of $14 per share. Any preferred stock sold during the year had a selling...
Brief Exercise 10-40 (Algorithmic) Recording the sale of Common and Preferred Stock At the end of its first year of operations, Mulligan Corporation has outstanding shares of 122,000 common stock and 13,000 preferred stock. The State of Ohio authorized Mulligan to issue 14,000 shares of 6% preferred stock with a par value of $50 per share and 123,000 shares of common stock with a par value of per share. Any preferred stock sold during the year had a selling price...
Brief Exercise 10-40 (Algorithmic) Recording the sale of Common and Preferred Stock At the end of its first year of operations, Mulligan Corporation has outstanding shares of 152,000 common stock and 25,000 preferred stock. The State of Ohio authorized Mulligan to issue 26,000 shares of 6% preferred stock with a par value of $35 per share and 153,000 shares of common stock with a par value of $7 per share. Any preferred stock sold during the year had a selling...
Problem 10-84A (Algorithmic) Statement of Stockholders' Equity At the end of 2019, Jeffco Inc. had the following equity accounts and balances: Common stock, $10 par $800,000 Additional paid-in capital-common stock 200,000 Retained earnings 279,000 During 2020, Jeffco engaged in the following transactions involving its equity accounts: a. Sold 8,000 shares of common stock for $35 per share. b. Sold 1,000 shares of 9%, $120 par preferred stock at $125 per share. c. Declared and paid cash dividends of $14,000. d....
Kohler Corporation reports the following components of stockholders' equity at December 31, 2018. Common stock-$10 par value, 100,000 shares authorized, 50,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 500,000 80,000 400,000 $ 980,000 During 2019, the following transactions affected its stockholders' equity accounts. Jan. 2 Purchased 5,000 shares of its own stock at $15 cash per share. Jan. 5 Directors declared a $4 per share cash dividend payable...
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