Homework Answers
| Journal Entry | |||
| Date | Account Tittle | Debit | Credit |
| 3-Jun | Treasury Stock (2000X $10) | $20,000.00 | |
| Cash | $20,000.00 | ||
| TO Record Purchase of Treasury Stock | |||
| 14-Jun | Cash | $20,000.00 | |
| Treasury Stock (1000X 10) | $10,000.00 | ||
| Paid in Capital in Excess of Par- Treasury Stock | $10,000.00 | ||
| TO Record Sale of Treasury Stock | |||
| Treasury Stock report on its balance sheet in Stock holder equity Section by deducting Treasury Stock from Total Paid up capital. |
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4) Marketsite, Inc. completed the following treasury stock transactions in 2018: June. 3 Purchased 2,000 shares...
Discount World Furniture, Inc. completed the following treasury stock transactions in 2018 A Click the icon...
Discount World Furniture, Inc. completed the following treasury stock transactions in 2018 A Click the icon to view the transactions) Requirements 1. Joumalize these transactions Explanations are not required 2. How will Discount World Furniture, Inc. report treasury stock on its balance sheet as of December 31, 2018? Requirement 1. Joumalize these transactions, (Record debits first, then credits. Exclude explanations from any jumal entries) Dec 1Purchased 1.500 shares of the company's 51 par valve common stock as treasury stock paying...
5. Discount Fumiture, Inc. completed the following treasury stock transactions in 2018: (Click the icon to...
5. Discount Fumiture, Inc. completed the following treasury stock transactions in 2018: (Click the icon to view the transactions.) Requirements 1. Journalize these transactions. Explanations are not required. 2. How will Discount Furniture, Inc. report treasury stock on its balance sheet as of December 31, 2018? Requirement 1. Journalize these transactions. (Record debits first, then credits. Exclude explanations from any journal entries.) Dec. 1: Purchased 1,900 shares of the company's $1 par value common stock as treasury stock, paying cash...
1, 2019, Excell exchanged the equipment for new eq new equipment is $45,000. Prepare a statement...
1, 2019, Excell exchanged the equipment for new eq new equipment is $45,000. Prepare a statement to Show the loss or gain on exchange (10 points) Prepare the journal entry to record this transaction. Omit explanation (25 points) Assume the exchange had commercial substance. 4) Marketsite, Inc. completed the following treasury stock transactions in 2018: June. 3 Purchased 2,000 shares of the company's $5 par value common stock as treasury stock, paying cash of $10 per share. June 14 Sold...
1 More Info Dec. 1Purchased 1,700 shares of the company's $1 par value common stock as...
1 More Info Dec. 1Purchased 1,700 shares of the company's $1 par value common stock as treasury stock, paying cash of $7 per share. 15 Sold 700 shares of the treasury stock for cash of $10 per share. 20 Sold 800 shares of the treasury stock for cash of $3 per share. (Assume the balance in Paid-In Capital from Treasury Stock Transactions on December 20 is $2,600.) Discount World Furniture, Inc. completed the following treasury stock transactions in 2018: (Click...
Please help me with this question and all the requirements. Thank You! Question Help S13-6 (book/static)...
Please help me with this question and all the requirements.
Thank You!
Question Help S13-6 (book/static) Discount Furniture, Inc. completed the following treasury stock transactions in 2018 (Click the icon to view the transactions.) Requirements 1. Journalize these transactions. Explanations are not required. 2. How will Discount Furniture, Inc. report treasury stock on its balance sheet as of December 31, 2018? Requirement 1. Journalize these transactions. (Record debits first, then credits. Exclude explanations from any journal entries.) Dec. 1: Purchased...
Adam Company Inc. 2018. Journalize the ollowing transactions On J value of stock $10. uly 1",...
Adam Company Inc. 2018. Journalize the ollowing transactions On J value of stock $10. uly 1", 2018 Adam Company issued 50,000 shares of common stock at $14 per share, par th Adam Company issued 500 shares of common stock at S 10 par value for legal services rendered by Start Your Company Right Inc. The stock was trading at S 12 per share. Aug.2nd, issued 1000 shares of common stock in exchange of land. The par value of stock is...
Prior to June 30, a company has never had any treasury stock transactions. A company repurchased...
Prior to June 30, a company has never had any treasury stock transactions. A company repurchased 100 shares of its $1 par common stock on June 30 for $40 per share. On July 20, it reissued 50 of these shares at $46 per share. On August 1, it reissued 20 of the shares at $38 per share. What is the journal entry necessary to record the reissuance of treasury stock on July 20? Debit Cash $2,300; credit Paid-in Capital, Treasury...
Assignment Instructions: Mustang Inc. completed the following stock-related transactions during 2016. Record the transactions In Mustang's...
Assignment Instructions: Mustang Inc. completed the following
stock-related transactions during 2016. Record the transactions In
Mustang's general journal on the "Worksheet" tab. (second
picture)
Assignment Instructions: Mustang Inc. completed the following stock-related transactions during 2016. Record the transactions In Mustang's general journal on the "Worksheet" tab. Upload your file in Blackboard when you are finished. Mustang declared a $30,000 cash dividend. The company currently has 2,000 shares of 896, $125 par value cumulative preferred stock outstanding. The company did not...
Stock Issuance and Treasury Stock Diva, Inc., recorded certain capital stock transactions shown in the following...
Stock Issuance and Treasury Stock Diva, Inc., recorded certain capital stock transactions shown in the following journal entries: (1) issued common stock for $20 cash per share, (2) purchased treasury shares at $25 per share, and (3) sold some of the treasury shares: 1 Cash 437,000 Common stock 43,700 Paid-in capital in excess of par value 393,300 2 Treasury stock 77,000 Cash 77,000 3 Cash 63,360 Treasury stock 52,800 Paid-in capital from treasury stock 10,560 a. How many shares were...
1) Smart Electronics completed the following stock issuance transactions: Prepare the journal entries to record these...
1) Smart Electronics completed the following stock issuance transactions: Prepare the journal entries to record these transactions. Explanations are not required. 15 points June 7 Issued 5,000 shares of $4 par value common stock for cash of $12 per share Aug. 16 Issued 500 shares of no-par preferred stock for $35,000 cash Sept. 19 | Received equipment with a market value of $95.000 in exchange for 5,000 shares of the $4 par value common stock
Discount World Furniture, Inc. completed the following treasury stock transactions in 2018 A Click the icon to view the transactions) Requirements 1. Joumalize these transactions Explanations are not required 2. How will Discount World Furniture, Inc. report treasury stock on its balance sheet as of December 31, 2018? Requirement 1. Joumalize these transactions, (Record debits first, then credits. Exclude explanations from any jumal entries) Dec 1Purchased 1.500 shares of the company's 51 par valve common stock as treasury stock paying...
5. Discount Fumiture, Inc. completed the following treasury stock transactions in 2018: (Click the icon to view the transactions.) Requirements 1. Journalize these transactions. Explanations are not required. 2. How will Discount Furniture, Inc. report treasury stock on its balance sheet as of December 31, 2018? Requirement 1. Journalize these transactions. (Record debits first, then credits. Exclude explanations from any journal entries.) Dec. 1: Purchased 1,900 shares of the company's $1 par value common stock as treasury stock, paying cash...
1, 2019, Excell exchanged the equipment for new eq new equipment is $45,000. Prepare a statement to Show the loss or gain on exchange (10 points) Prepare the journal entry to record this transaction. Omit explanation (25 points) Assume the exchange had commercial substance. 4) Marketsite, Inc. completed the following treasury stock transactions in 2018: June. 3 Purchased 2,000 shares of the company's $5 par value common stock as treasury stock, paying cash of $10 per share. June 14 Sold...
1 More Info Dec. 1Purchased 1,700 shares of the company's $1 par value common stock as treasury stock, paying cash of $7 per share. 15 Sold 700 shares of the treasury stock for cash of $10 per share. 20 Sold 800 shares of the treasury stock for cash of $3 per share. (Assume the balance in Paid-In Capital from Treasury Stock Transactions on December 20 is $2,600.) Discount World Furniture, Inc. completed the following treasury stock transactions in 2018: (Click...
Please help me with this question and all the requirements.
Thank You!
Question Help S13-6 (book/static) Discount Furniture, Inc. completed the following treasury stock transactions in 2018 (Click the icon to view the transactions.) Requirements 1. Journalize these transactions. Explanations are not required. 2. How will Discount Furniture, Inc. report treasury stock on its balance sheet as of December 31, 2018? Requirement 1. Journalize these transactions. (Record debits first, then credits. Exclude explanations from any journal entries.) Dec. 1: Purchased...
Adam Company Inc. 2018. Journalize the ollowing transactions On J value of stock $10. uly 1", 2018 Adam Company issued 50,000 shares of common stock at $14 per share, par th Adam Company issued 500 shares of common stock at S 10 par value for legal services rendered by Start Your Company Right Inc. The stock was trading at S 12 per share. Aug.2nd, issued 1000 shares of common stock in exchange of land. The par value of stock is...
Assignment Instructions: Mustang Inc. completed the following
stock-related transactions during 2016. Record the transactions In
Mustang's general journal on the "Worksheet" tab. (second
picture)
Assignment Instructions: Mustang Inc. completed the following stock-related transactions during 2016. Record the transactions In Mustang's general journal on the "Worksheet" tab. Upload your file in Blackboard when you are finished. Mustang declared a $30,000 cash dividend. The company currently has 2,000 shares of 896, $125 par value cumulative preferred stock outstanding. The company did not...
1) Smart Electronics completed the following stock issuance transactions: Prepare the journal entries to record these transactions. Explanations are not required. 15 points June 7 Issued 5,000 shares of $4 par value common stock for cash of $12 per share Aug. 16 Issued 500 shares of no-par preferred stock for $35,000 cash Sept. 19 | Received equipment with a market value of $95.000 in exchange for 5,000 shares of the $4 par value common stock
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