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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Recording Treasury Stock Transactions and Analyzing Their impact
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Required information E11-4 (Algo) Reporting Stockholders' Equity LO11-1, 11-2, 11-3 [The following information applies to the...
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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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E11-15 (Algo) Recording and Analyzing Treasury Stock Transactions LO11-3 During the year the following selected transactions affecting stockholders' equity occurred for Orlando Corporation: a. Apr. 1Repurchased 350 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...
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...
Required information E11-4 (Algo) Reporting Stockholders' Equity LO11-1, 11-2, 11-3 [The following information applies to the questions displayed below.] The financial statements for Highland Corporation included the following selected information: Common stock Retained earnings Net income Shares issued Shares outstanding Dividends declared and paid $1,090,000 $ 790,000 $1,180,000 109,000 77,000 $ 620,000 The common stock was sold at a price of $21 per share. E11-4 Part 1 Required: 1. What is the amount of additional paid-in capital? Additional paid-in capital...
Required information E11-4 (Algo) Reporting Stockholders' Equity LO11-1, 11-2, 11-3 [The following information applies to the questions displayed below.] The financial statements for Highland Corporation included the following selected information: Common stock Retained earnings Net income Shares issued Shares outstanding Dividends declared and paid $1,500,000 $ 800,000 $1,130,000 100,000 76,000 $ 790,000 The common stock was sold at a price of $21 per share. E11-4 Part 2 2. What was the amount of retained earnings at the beginning of the...
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