Homework Answers
1.
| Transaction | General Journal | Debit | Credit |
| a. | Treasury stock(350 shares × $25) | $8,750 | |
| Cash | $8,750 | ||
| b. | Cash(110 shares × $30) | $3,300 | |
| Treasury stock(110 shares × $25) | $2,750 | ||
| Additional paid-in capital | $550 | ||
| c. | Cash(100 shares × $20) | $2,000 | |
| Additional paid-in capital | $500 | ||
| Treasury stock(100 shares × $25) | $2,500 |
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E11-15 (Algo) Recording and Analyzing Treasury Stock Transactions LO11-3 During the year the following selected transactions...
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E11-15 (Algo) Recording and Analyzing Treasury Stock Transactions LO11-3 During the year the following selected transac...
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During the year the following selected transactions affecting stockholders' equity occurred for Orlando Corporation: a. Apr....
During the year the following selected transactions affecting
stockholders' equity occurred for Orlando Corporation:
a.
Apr.
1
Repurchased 310 shares of the company's own common stock at $24
cash per share.
b.
Jun.
14
Sold 110 of the shares purchased on April 1 for $29 cash per
share.
c.
Sept.
1
Sold 100 of the shares purchased on April 1 for $19 cash per
share.
Required:
1. Prepare journal entries for each of the
above transactions. (If no entry is...
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Required information Problem 8-25 (Algo) Treasury stock transactions LO 6 (The following information applies to the...
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During the year the following selected transactions affecting
stockholders' equity occurred for Orlando Corporation:
a.
Apr.
1
Repurchased 310 shares of the company's own common stock at $24
cash per share.
b.
Jun.
14
Sold 110 of the shares purchased on April 1 for $29 cash per
share.
c.
Sept.
1
Sold 100 of the shares purchased on April 1 for $19 cash per
share.
Required:
1. Prepare journal entries for each of the
above transactions. (If no entry is...
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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