Homework Answers
The answer is
The debiting of paid-in capital, treasury stock
When treasury stock is sold, it is credited
Difference is debited/Credited to paid in capital
But treasury stock can never be debited on sale
Add Answer to:
Question 10 The sale of treasury stock cannot result in an increase in Retained Earnings, the...
help with finding retained earnings and treasury stock Ivanhoe Company has two classes of capital stock...
help with finding retained earnings and treasury stock
Ivanhoe Company has two classes of capital stock outstanding: 8%, $20 par preferred and $5 par common. At December 31, 2020, the following accounts were included in stockholders' equity. Preferred Stock, 152,200 shares Common Stock, 2,039,000 shares Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Par-Common Stock Retained Earnings $3,044,000 10,195,000 202,000 26,684,000 4,587,000 The following transactions affected stockholders' equity during 2021. Jan. 1 32,600 shares of preferred...
Problem 11-2A Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 [The...
Problem 11-2A Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 [The following information applies to the questions displayed below.] Kohler Corporation reports the following components of stockholders' equity on December 31, 2015: 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 $ 500,000 80,000 430,000 Total stockholders' equity $1,010,000 In year 2016, the following transactions affected its stockholders' equity accounts. Jan....
On December 30, Seaside purchased 125 shares of treasury stock at $10 per share. 1.Journalize the...
On December 30, Seaside purchased 125 shares of treasury stock
at $10 per share.
1.Journalize the purchase of the treasury stock.
2.
Prepare the stockholders' equity section of the balance sheet
at December 31, 2018. Assume the balance in retained earnings is
unchanged from November 30.
3.
How many shares of common stock are outstanding after the
purchase of treasury stock?
Data Table Stockholders' Equity Paid-In Capital: Common Stock-$5 Par Value; 1,300 shares authorized, 130 shares issued and outstanding $...
A partial list of a corporation's accounts shows the following account balances: Retained earnings, $375,000 Treasury...
A partial list of a corporation's accounts shows the following account balances: Retained earnings, $375,000 Treasury stock-common, $20,000 Paid-in capital in excess of par value-common, $60,000 Treasury stock-preferred, $20,000 Common stock, $200,000 Preferred stock, $175,000 Paid-in capital in excess of par value-preferred, $60,000 How much is total stockholders' equity? $805,000 $945,000 $830,000 $845,000 $850,000
Problem 13-2A Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 Kohler...
Problem 13-2A Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 Kohler Corporation reports the following components of stockholders’ equity on December 31, 2016: Common stock—$10 par value, 100,000 shares authorized, 40,000 shares issued and outstanding $ 400,000 Paid-in capital in excess of par value, common stock 60,000 Retained earnings 270,000 Total stockholders' equity $ 730,000 In year 2017, the following transactions affected its stockholders’ equity accounts. Jan. 1 Purchased 4,000 shares of its own stock...
Exercise 13-10: Transactions regarding Treasury Stock: GIVEN: On October 10, the stockholders' equity section of the...
Exercise 13-10: Transactions regarding Treasury Stock: GIVEN: On October 10, the stockholders' equity section of the Sherman Corp appears as follows: Common stock-$10 par value, 80,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, Common Stock Retained earnings Total stockholders' equity $ $ $ $ 800,000 256,000 928,000 1,984,000 REQUIRED: Part 1) Prepare the following Journal Entries: 1) Purchased 5,800 shares of its own common stock at $33 per share on October 11. 2) Sold 1,200...
Exercise 11-21 Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 Alexander...
Exercise 11-21 Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 Alexander Corporation reports the following components of stockholders' equity at December 31, 2018. Common stock-$25 par value, 60,000 shares authorized, 37,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 925,000 74,000 364,000 $1,363,000 During the year, the following transactions affected its stockholders' equity accounts. Jan. Jan. Feb. July Aug Sept. 2 Purchased 3,700 shares...
Exercise 13-18 Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 Alexander...
Exercise 13-18 Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 Alexander Corporation reports the following components of stockholders' equity on December 31, 2016: Common stock-$25 par value, 50,000 shares authorized, Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 750,000 50,000 340,000 $1,140,000 n year 2017, the following transactions affected its stockholders' equity accounts. Jan. 2 Purchased 3,000 shares of its own stock at $25 cash per share. Jan....
Black Raptor Inc. has retained earnings of $500,000 and total stockholders' equity of $2,000,000. It has...
Black Raptor Inc. has retained earnings of $500,000 and total stockholders' equity of $2,000,000. It has 80,000 shares of $10 par value common stock outstanding, which is currently selling for $25 per share. What will occur if Black Raptor declares a 10% stock dividend on its common stock? Net income will decrease by $80,000. Retained earnings will decrease by $80,000 and total stockholders' equity will wil increase by $80,000. Retained earnings will decrease by $100,000 and total stockholders' equity will...
Problem 11-2A Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 Kohler...
Problem 11-2A Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 Kohler Corporation reports the following components of stockholders’ equity at December 31, 2018. Common stock—$20 par value, 100,000 shares authorized, 55,000 shares issued and outstanding $ 1,100,000 Paid-in capital in excess of par value, common stock 80,000 Retained earnings 400,000 Total stockholders' equity $ 1,580,000 During 2019, the following transactions affected its stockholders’ equity accounts. Jan. 2 Purchased 5,000 shares of its own stock at...
help with finding retained earnings and treasury stock
Ivanhoe Company has two classes of capital stock outstanding: 8%, $20 par preferred and $5 par common. At December 31, 2020, the following accounts were included in stockholders' equity. Preferred Stock, 152,200 shares Common Stock, 2,039,000 shares Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Par-Common Stock Retained Earnings $3,044,000 10,195,000 202,000 26,684,000 4,587,000 The following transactions affected stockholders' equity during 2021. Jan. 1 32,600 shares of preferred...
Problem 11-2A Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 [The following information applies to the questions displayed below.] Kohler Corporation reports the following components of stockholders' equity on December 31, 2015: 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 $ 500,000 80,000 430,000 Total stockholders' equity $1,010,000 In year 2016, the following transactions affected its stockholders' equity accounts. Jan....
On December 30, Seaside purchased 125 shares of treasury stock
at $10 per share.
1.Journalize the purchase of the treasury stock.
2.
Prepare the stockholders' equity section of the balance sheet
at December 31, 2018. Assume the balance in retained earnings is
unchanged from November 30.
3.
How many shares of common stock are outstanding after the
purchase of treasury stock?
Data Table Stockholders' Equity Paid-In Capital: Common Stock-$5 Par Value; 1,300 shares authorized, 130 shares issued and outstanding $...
A partial list of a corporation's accounts shows the following account balances: Retained earnings, $375,000 Treasury stock-common, $20,000 Paid-in capital in excess of par value-common, $60,000 Treasury stock-preferred, $20,000 Common stock, $200,000 Preferred stock, $175,000 Paid-in capital in excess of par value-preferred, $60,000 How much is total stockholders' equity? $805,000 $945,000 $830,000 $845,000 $850,000
Exercise 13-10: Transactions regarding Treasury Stock: GIVEN: On October 10, the stockholders' equity section of the Sherman Corp appears as follows: Common stock-$10 par value, 80,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, Common Stock Retained earnings Total stockholders' equity $ $ $ $ 800,000 256,000 928,000 1,984,000 REQUIRED: Part 1) Prepare the following Journal Entries: 1) Purchased 5,800 shares of its own common stock at $33 per share on October 11. 2) Sold 1,200...
Exercise 11-21 Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 Alexander Corporation reports the following components of stockholders' equity at December 31, 2018. Common stock-$25 par value, 60,000 shares authorized, 37,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 925,000 74,000 364,000 $1,363,000 During the year, the following transactions affected its stockholders' equity accounts. Jan. Jan. Feb. July Aug Sept. 2 Purchased 3,700 shares...
Exercise 13-18 Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 Alexander Corporation reports the following components of stockholders' equity on December 31, 2016: Common stock-$25 par value, 50,000 shares authorized, Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 750,000 50,000 340,000 $1,140,000 n year 2017, the following transactions affected its stockholders' equity accounts. Jan. 2 Purchased 3,000 shares of its own stock at $25 cash per share. Jan....
Black Raptor Inc. has retained earnings of $500,000 and total stockholders' equity of $2,000,000. It has 80,000 shares of $10 par value common stock outstanding, which is currently selling for $25 per share. What will occur if Black Raptor declares a 10% stock dividend on its common stock? Net income will decrease by $80,000. Retained earnings will decrease by $80,000 and total stockholders' equity will wil increase by $80,000. Retained earnings will decrease by $100,000 and total stockholders' equity will...
Most questions answered within 3 hours.
-
the following reaction occurs in a balloon containing
N2O2 gas
N2O4(g)=2NO2(g)
will the volume of the...
asked 6 minutes ago -
answer the questions throughout this program
public class Day implements Comparable {
Private Boolean atWork;...
asked 13 minutes ago -
This is C++ code for parking fee management program
#include <iostream>
#include <iomanip>
using namespace std;...
asked 24 minutes ago -
The free energy change for the following reaction at 25 °C, when
[Sn2+] = 1.17 M...
asked 2 hours ago -
An MNE is this kind of industry when competition in one country
is essentially independent of...
asked 3 hours ago -
. For this set of questions, determine what
proportion of a normal distribution is located betweeneach...
asked 4 hours ago -
A college student is employed as a door-to-door newspaper
salesman. Historical data suggests that the student...
asked 5 hours ago -
MATLAB HW 11 problem using Switch Case and Input commands
Write a script file that calculates...
asked 4 hours ago -
Considering gravitational time dilation, calculate the time that
passes in Earth’s surface while 1 hour passes...
asked 5 hours ago -
Minitab Problem: Take the Lake Hume June rainfall data and find
use the processes outlined in...
asked 6 hours ago -
X Company is trying to decide whether to continue using old
equipment to make Product A...
asked 6 hours ago -
IN PYTHON ONLY !! Program 2: Re-work
program #5 (WeeklyHours) from the previous assignment such that...
asked 7 hours ago