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heck ny work 0 Required information During Year 1. Long Beach Corporation completed the treasury stock...
Exercise 11-12A Treasury stock transactions LO 11-5 Elroy Corporation repurchased 1,800 shares of its own stock...
Exercise 11-12A Treasury stock transactions LO 11-5 Elroy Corporation repurchased 1,800 shares of its own stock for $30 per share. The stock has a par of $10 per share. A month later, Elroy resold 450 shares of the treasury stock for $38 per share. Required a. Record the two events in general journal format. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet Record the...
In 2018, Poe's Products completed the treasury stock transactions described below. January 2: Reacquired 10 million...
In 2018, Poe's Products completed the treasury stock transactions described below. January 2: Reacquired 10 million shares at $16.40 per share. February 15: Sold 3 million treasury shares at $20.20 per share. September 20: Sold 3 million treasury shares at $15.20 per share. Poe had issued 50 million shares of its $1 par common stock for $18 several years ago. Required: Record the above transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the...
In 2018, Western Transport Company entered into the treasury stock transactions described below. In 2016, Western...
In 2018, Western Transport Company entered into the treasury stock transactions described below. In 2016, Western Transport had issued 280 million shares of its $1 par common stock at $28 per share Required: Prepare the appropriate journal entry for each of the following transactions: (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) 1. On January 23, 2018, Western...
In 2018, Western Transport Company entered into the treasury stock transactions described below. In 2016, Western...
In 2018, Western Transport Company entered into the treasury stock transactions described below. In 2016, Western Transport had issued 170 million shares of its $1 par common stock at $16 per share. Required: Prepare the appropriate journal entry for each of the following transactions: (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) 1. On January 23, 2018, Western...
In 2018, Western Transport Company entered into the treasury stock transactions described below. In 2016, Western...
In 2018, Western Transport Company entered into the treasury stock transactions described below. In 2016, Western Transport had issued 260 million shares of its $1 par common stock at $26 per share. Required: Prepare the appropriate journal entry for each of the following transactions: (if no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) 1. On January 23, 2018, Western...
Treasury Stock Transactions Garrett Inc. had no treasury stock at the beginning of the year. During...
Treasury Stock Transactions Garrett Inc. had no treasury stock at the beginning of the year. During February, Garrett purchased 12,600 shares of treasury stock at $23 per share. In May, Garrett sold 4,500 of the treasury shares for $25 per share. In November, Garrett sold the remaining treasury shares for $18 per share. Required: Prepare journal entries for the February, May, and November treasury stock transactions. Feb. (Record purchase of treasury shares) May (Record reissue of treasury shares) Nov. (Record...
National Supply's shareholders' equity included the following accounts at December 31, 2020: Shareholders' Equity Common stock,...
National Supply's shareholders' equity included the following accounts at December 31, 2020: Shareholders' Equity Common stock, 9 million shares at $1 par Paid-in capital-excess of par Retained earnings $ 9,000,000 63,000,000 92,500,000 Required: 1. National Supply reacquired shares of its common stock in two separate transactions and later sold shares. Prepare the entries for each of the transactions under each of two separate assumptions: the shares are (a) retired and (b) accounted for as treasury stock. February 15, 2021 February...
Required information [The following information applies to the questions displayed below.) Part 1 of 2 California...
Required information [The following information applies to the questions displayed below.) Part 1 of 2 California Surf Clothing Company issues 1,000 shares of $1 par value common stock at $16 per share. Later in the year, the company decides to Purchase 100 shares at a cost of $19 per share. 10 points Record the purchase of treasury stock. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) eBook Print View...
Treasury Stock Transaction example: Note: show your journal entries AND computations In 2016, Poe's Products completed...
Treasury Stock Transaction example: Note: show your journal entries AND computations In 2016, Poe's Products completed the treasury stock transactions described below. January 2: Reacquired 10 million shares at $16 per share. February 15: Sold 3 million shares at $20 per share. September 20: Sold 3 million treasury shares at $15 per share. Poe had issued 50 million shares of its $1 par common stock for $18 several years ago. Required: Record the above transactions, assuming that Poe's Products uses...
During the year, the following selected transactions affecting stockholders' equity occurred for Navajo Corporation: a. Feb....
During the year, the following selected transactions affecting stockholders' equity occurred for Navajo Corporation: a. Feb. 1 Repurchased 360 shares of the company's own common stock at $25 cash per share. b. Jul. 15 Sold 120 of the shares purchased on February 1 for $26 cash per share. c. Sept. 1 Sold 90 of the shares purchased on February 1 for $24 cash per share. Required: 1. Prepare the journal entry required for each of the above transactions. (If no...
Exercise 11-12A Treasury stock transactions LO 11-5 Elroy Corporation repurchased 1,800 shares of its own stock for $30 per share. The stock has a par of $10 per share. A month later, Elroy resold 450 shares of the treasury stock for $38 per share. Required a. Record the two events in general journal format. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet Record the...
In 2018, Poe's Products completed the treasury stock transactions described below. January 2: Reacquired 10 million shares at $16.40 per share. February 15: Sold 3 million treasury shares at $20.20 per share. September 20: Sold 3 million treasury shares at $15.20 per share. Poe had issued 50 million shares of its $1 par common stock for $18 several years ago. Required: Record the above transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the...
In 2018, Western Transport Company entered into the treasury stock transactions described below. In 2016, Western Transport had issued 280 million shares of its $1 par common stock at $28 per share Required: Prepare the appropriate journal entry for each of the following transactions: (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) 1. On January 23, 2018, Western...
In 2018, Western Transport Company entered into the treasury stock transactions described below. In 2016, Western Transport had issued 170 million shares of its $1 par common stock at $16 per share. Required: Prepare the appropriate journal entry for each of the following transactions: (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) 1. On January 23, 2018, Western...
In 2018, Western Transport Company entered into the treasury stock transactions described below. In 2016, Western Transport had issued 260 million shares of its $1 par common stock at $26 per share. Required: Prepare the appropriate journal entry for each of the following transactions: (if no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) 1. On January 23, 2018, Western...
Treasury Stock Transactions Garrett Inc. had no treasury stock at the beginning of the year. During February, Garrett purchased 12,600 shares of treasury stock at $23 per share. In May, Garrett sold 4,500 of the treasury shares for $25 per share. In November, Garrett sold the remaining treasury shares for $18 per share. Required: Prepare journal entries for the February, May, and November treasury stock transactions. Feb. (Record purchase of treasury shares) May (Record reissue of treasury shares) Nov. (Record...
National Supply's shareholders' equity included the following accounts at December 31, 2020: Shareholders' Equity Common stock, 9 million shares at $1 par Paid-in capital-excess of par Retained earnings $ 9,000,000 63,000,000 92,500,000 Required: 1. National Supply reacquired shares of its common stock in two separate transactions and later sold shares. Prepare the entries for each of the transactions under each of two separate assumptions: the shares are (a) retired and (b) accounted for as treasury stock. February 15, 2021 February...
Required information [The following information applies to the questions displayed below.) Part 1 of 2 California Surf Clothing Company issues 1,000 shares of $1 par value common stock at $16 per share. Later in the year, the company decides to Purchase 100 shares at a cost of $19 per share. 10 points Record the purchase of treasury stock. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) eBook Print View...
Treasury Stock Transaction example: Note: show your journal entries AND computations In 2016, Poe's Products completed the treasury stock transactions described below. January 2: Reacquired 10 million shares at $16 per share. February 15: Sold 3 million shares at $20 per share. September 20: Sold 3 million treasury shares at $15 per share. Poe had issued 50 million shares of its $1 par common stock for $18 several years ago. Required: Record the above transactions, assuming that Poe's Products uses...
During the year, the following selected transactions affecting stockholders' equity occurred for Navajo Corporation: a. Feb. 1 Repurchased 360 shares of the company's own common stock at $25 cash per share. b. Jul. 15 Sold 120 of the shares purchased on February 1 for $26 cash per share. c. Sept. 1 Sold 90 of the shares purchased on February 1 for $24 cash per share. Required: 1. Prepare the journal entry required for each of the above transactions. (If no...
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