Homework Answers
Journal entry
| Date | account and explanation | Debit | Credit |
| Feb 1 | Treasury stock (4000*36) | 144000 | |
| Cash | 144000 | ||
So answer is d)
Add Answer to:
Question 3 6 points Save Ansi On January 1, 20x5, Dove Valley Corporation had 100,000 shares...
guante question will save this response. Question : Question 1 16 points s Match each of...
guante question will save this response. Question : Question 1 16 points s Match each of the following stockholders' equity concepts to the most appropriate term (a-h). The account used to record the difference when issue price exceeds a. authorized shares par value of stock 3 b , issued shares The dollar amount assigned to each share of stock outstanding shares The number of shares currently held by stockholders d . par value • A class of stock having first...
Question 15 6 points Save Answ Use the following information to answer the question below. On...
Question 15 6 points Save Answ Use the following information to answer the question below. On January 1, 20x5, Falcon Corporation had 40,000 shares of $10 par value common stock issued and outstanding. All 40,000 shares had been issued in a prior period at $17 per share. On February 1, 20x5, Falcon purchased 3,100 shares of treasury stock for $19 per share and later sold the treasury shares for $26 per share on March 2, 20x5. What amount of gain...
At the start of 20X5, Evans Corp. had 15,000 shares of $6 par common stock issued...
At the start of 20X5, Evans Corp. had 15,000 shares of $6 par common stock issued and outstanding. All 15,000 shares had been issued in the prior year for $20 per On February 1, 20X5, Evans repurchased 2,000 shares of its own stock for $12 per share. It plans to reissue these shares at a future time. Question: What journal entry should Evans make to record the February 1, 20X5 transaction? Answer: It should debit | for $ and credit...
On January 1, Vermont Corporation had 36,200 shares of $12 par value common stock issued and...
On January 1, Vermont Corporation had 36,200 shares of $12 par value common stock issued and outstanding. All 36,200 shares had been issued in a prior period at $20 per share. On February 1, Vermont purchased 1,100 shares of treasury stock for $25 per share and later sold the treasury shares for $22 per share on March 1. The journal entry to record the purchase of the treasury shares on February 1 would include a a.credit to Treasury Stock for...
On January 1, Vermont Corporation had 44,300 shares of $9 par value common stock issued and...
On January 1, Vermont Corporation had 44,300 shares of $9 par value common stock issued and outstanding. All 44,300 shares had been issued in a prior period at $21 per share. On February 1, Vermont purchased 1,100 shares of treasury stock for $28 per share and later sold the treasury shares for $18 per share on March 1. The journal entry to record the purchase of the treasury shares on February 1 would include a a.debit to Treasury Stock for...
On January 1, Vermont Corporation had 35,300 shares of $12 par value common stock issued and...
On January 1, Vermont Corporation had 35,300 shares of $12 par value common stock issued and outstanding. All 35,300 shares had been issued in a prior period at $22 per share. On February 1, Vermont purchased 1,140 shares of treasury stock for $25 per share and later sold the treasury shares for $20 per share on March 1. The journal entry to record the purchase of the treasury shares on February 1 would include a a.credit to Treasury Stock for...
On January 1, 2021, Windsor Corp. had 461,000 shares of common stock outstanding. During 2021, it...
On January 1, 2021, Windsor Corp. had 461,000 shares of common stock outstanding. During 2021, it had the following transactions that affected the Common Stock account. February 1 March 1 May 1 June 1 October 1 Issued 124,000 shares Issued a 10% stock dividend Acquired 104,000 shares of treasury stock Issued a 3-for-1 stock split Reissued 61,000 shares of treasury stock (a) X Your answer is incorrect. Determine the weighted average number of shares outstanding as of December 31, 2021....
Stockholders' Equity (January 1) Common stock-$6 par value, 100,000 shares authorized, 40,000 shares issued and outstanding...
Stockholders' Equity (January 1) Common stock-$6 par value, 100,000 shares authorized, 40,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $240,000 200.000 340,000 $780,000 Stockholders' Equity (December 31) Common stock-$6 par value, 100,000 shares authorized, 47, 400 shares issued, 3,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($30,000 restricted by treasury stock) Less cost of treasury stock Total stockholders' equity $284,400 244,400 400,000...
ABC Company had the following accounts (among others) in its general ledger at December 31, 20X5:...
ABC Company had the following accounts (among others) in its general ledger at December 31, 20X5: Bonds payable, 8%, due in 5 years.. Premium on bonds payable ....... "Premium" on preferred stock ......! Cash dividend payable on common stock Stock dividend payable on common stock, 10% Sinking fund .......... Subscription receivable ........... Additional paid-in capital, common stock'.. Investment in U. S. Treasury notes ..... Treasury stock, at cost of $100 per common share..... Preferred stock, $10 par, 6% dividend, 100,000...
January 1, 2021, Flint Corp. had 502,000 shares of common stock outstanding. During 2021, it had...
January 1, 2021, Flint Corp. had 502,000 shares of common stock outstanding. During 2021, it had the following transactions that affected the Common Stock account. February 1 Issued 125,000 shares March 1 Issued a 10% stock dividend May 1 Acquired 98,000 shares of treasury stock June 1 Issued a 3-for-1 stock split October 1 Reissued 58,000 shares of treasury stock Assume that Flint Corp. earned net income of $3,605,000 during 2021. In addition, it had 104,000 shares of 9%, $100...
guante question will save this response. Question : Question 1 16 points s Match each of the following stockholders' equity concepts to the most appropriate term (a-h). The account used to record the difference when issue price exceeds a. authorized shares par value of stock 3 b , issued shares The dollar amount assigned to each share of stock outstanding shares The number of shares currently held by stockholders d . par value • A class of stock having first...
Question 15 6 points Save Answ Use the following information to answer the question below. On January 1, 20x5, Falcon Corporation had 40,000 shares of $10 par value common stock issued and outstanding. All 40,000 shares had been issued in a prior period at $17 per share. On February 1, 20x5, Falcon purchased 3,100 shares of treasury stock for $19 per share and later sold the treasury shares for $26 per share on March 2, 20x5. What amount of gain...
At the start of 20X5, Evans Corp. had 15,000 shares of $6 par common stock issued and outstanding. All 15,000 shares had been issued in the prior year for $20 per On February 1, 20X5, Evans repurchased 2,000 shares of its own stock for $12 per share. It plans to reissue these shares at a future time. Question: What journal entry should Evans make to record the February 1, 20X5 transaction? Answer: It should debit | for $ and credit...
On January 1, 2021, Windsor Corp. had 461,000 shares of common stock outstanding. During 2021, it had the following transactions that affected the Common Stock account. February 1 March 1 May 1 June 1 October 1 Issued 124,000 shares Issued a 10% stock dividend Acquired 104,000 shares of treasury stock Issued a 3-for-1 stock split Reissued 61,000 shares of treasury stock (a) X Your answer is incorrect. Determine the weighted average number of shares outstanding as of December 31, 2021....
Stockholders' Equity (January 1) Common stock-$6 par value, 100,000 shares authorized, 40,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $240,000 200.000 340,000 $780,000 Stockholders' Equity (December 31) Common stock-$6 par value, 100,000 shares authorized, 47, 400 shares issued, 3,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($30,000 restricted by treasury stock) Less cost of treasury stock Total stockholders' equity $284,400 244,400 400,000...
ABC Company had the following accounts (among others) in its general ledger at December 31, 20X5: Bonds payable, 8%, due in 5 years.. Premium on bonds payable ....... "Premium" on preferred stock ......! Cash dividend payable on common stock Stock dividend payable on common stock, 10% Sinking fund .......... Subscription receivable ........... Additional paid-in capital, common stock'.. Investment in U. S. Treasury notes ..... Treasury stock, at cost of $100 per common share..... Preferred stock, $10 par, 6% dividend, 100,000...
Most questions answered within 3 hours.
-
Write a Python program that stores the data for each
player on the team, and it...
asked 1 second from now -
In
the last 3 months, mike never knows when he is going to get his
allowance...
asked 24 minutes ago -
Is Ca(OH)2 a Bronsted base, Lewis base, or both? Why?
asked 14 minutes ago -
1A- Why don’t voters complain about U.S. tariffs on imported
sugar?
Because sugar is only a...
asked 22 minutes ago -
Cash Payback Period
Primera Banco is evaluating two capital investment proposals for
a drive-up ATM kiosk,...
asked 21 minutes ago -
Create a button in Swift (Xcode) that will create a charge,
create a charge using Stripe's...
asked 21 minutes ago -
The reaction rate of CO and NO2 in the reaction
CO(g) + NO2(g) → CO2(g) +...
asked 22 minutes ago -
Imagine that a chemist puts 6.40 mol each of
C3H8 and O2 in a 1.00-L container...
asked 39 minutes ago -
How much money should be invested today in order to have $8340
at the end of...
asked 43 minutes ago -
You are conducting research for a hospital and issue a survey to
patients.
Based on the...
asked 44 minutes ago -
What might be a negative mutation that would hinder the
bug population?
asked 53 minutes ago -
A company just paid a dividend of $1.50 per share. The consensus
forecast of financial analysts...
asked 49 minutes ago