Homework Answers
| Debit | Credit | |||
| a | Treasury Stock | 191400 | =5800*33 | |
| Cash | 191400 | |||
| b | Cash | 46800 | =1200*39 | |
| Treasury Stock | 39600 | =1200*33 | ||
| Paid in Capital,Treasury Stock | 7200 | |||
| c | Cash | 128800 | =(5800-1200)*28 | |
| Paid in Capital,Treasury Stock | 7200 | |||
| Retained Earnings | 15800 | |||
| Treasury Stock | 151800 | =(5800-1200)*33 |
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Exercise 11-10 Recording and reporting treasury stock transactions LO P3...
Exercise 11-12 Recording and reporting treasury stock transactions LO P3 On October 10, the stockholders' equity...
Exercise 11-12 Recording and reporting treasury stock transactions LO P3 On October 10, the stockholders' equity of Sherman Systems appears as follows Common stock-$10 par value, 86,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings 860,000 286,000 976,000 $2,122,000 Total stockholders equity 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 6,400 shares of its own common stock at $39 per share on October 11 b. Sold...
Exercise 11-10 Recording and reporting treasury stock transactions LO P3 On October 10, the stockholders' equity of...
Exercise 11-10 Recording and reporting treasury stock transactions LO P3 On October 10, the stockholders' equity of Sherman Systems appears as follows. Common stock-$10 par value, 90,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 900,000 306,000 1,008,000 $2,214,000 Print 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 6,800 shares of its own common stock at $43 per share on October 11....
Exercise 11-12 Recording and reporting treasury stock transactions LO P3 On October 10, the stockholders' equity...
Exercise 11-12 Recording and reporting treasury stock transactions LO P3 On October 10, the stockholders' equity of Sherman Systems appears as follows. Common stock-$10 par value, 82,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 820,000 266,000 944,000 $2,030,000 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 6,000 shares of its own common stock at $35 per share on October 11. b....
Exercise 11-12 Recording and reporting treasury stock transactions LO P3 On October 10, the stockholders' equity...
Exercise 11-12 Recording and reporting treasury stock transactions LO P3 On October 10, the stockholders' equity of Sherman Systems appears as follows. Common stock-$10 par value, 87,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 870,000 291,000 984,000 $2,145,000 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 6,500 shares of its own common stock at $40 per share on October 11. b....
Exercise 11-10 Recording and reporting treasury stock transactions LO P3 On October 10, the stockholders' equity...
Exercise 11-10 Recording and reporting treasury stock transactions LO P3 On October 10, the stockholders' equity of Sherman Systems appears as follows. Common stock-$10 par value, 84,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 840,000 276,000 960,000 $2,076,000 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 6,200 shares of its own common stock at $37 per share on October 11. b....
Exercise 11-10 Recording and reporting treasury stock transactions LO P3 On October 10, the stockholders equity...
Exercise 11-10 Recording and reporting treasury stock transactions LO P3 On October 10, the stockholders equity of Sherman System appear to Con stock-110 par value, 81.00 shares on stock Pald.in capital in excess of per value Retained earnings Total stockholders equity 1. Prepare journal entries to record the following transactions for Sher Sitems 6. Purchased 5,900 shares of its own common stock of 34 per share on October b. Sold 1225 treasury shares on November 1 for $40 cash per...
Exercise 11-10 Recording and reporting treasury stock transactions LO P3 On October 10, the stockholders equity...
Exercise 11-10 Recording and reporting treasury stock transactions LO P3 On October 10, the stockholders equity of Sherman System appear to Con stock-110 par value, 81.00 shares on stock Pald.in capital in excess of per value Retained earnings Total stockholders equity 1. Prepare journal entries to record the following transactions for Sher Sitems 6. Purchased 5,900 shares of its own common stock of 34 per share on October b. Sold 1225 treasury shares on November 1 for $40 cash per...
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...
On October 10, the stockholders’ equity of Sherman Systems appears as follows. Common stock–$10 par value,...
On October 10, the stockholders’ equity of Sherman Systems appears as follows. Common stock–$10 par value, 91,000 shares authorized, issued, and outstanding $ 910,000 Paid-in capital in excess of par value, common stock 311,000 Retained earnings 1,016,000 Total stockholders’ equity $ 2,237,000 1. Prepare journal entries to record the following transactions for Sherman Systems. Purchased 6,900 shares of its own common stock at $44 per share on October 11. Sold 1,475 treasury shares on November 1 for $50 cash per...
Common stock-$10 par value, 80,000 shares authorized, issued, and outstanding Paid-in capital in excess of par...
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 1. Prepare Journal entries to record the following transactions for Sherman Systems. a. Purchased 5,800 shares of its own common stock at $33 per share on October 11. b. Sold 1,200 treasury shares on November 1 for $39 cash per share. c. Sold all remaining treasury shares on November 25 for...
Exercise 11-12 Recording and reporting treasury stock transactions LO P3 On October 10, the stockholders' equity of Sherman Systems appears as follows Common stock-$10 par value, 86,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings 860,000 286,000 976,000 $2,122,000 Total stockholders equity 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 6,400 shares of its own common stock at $39 per share on October 11 b. Sold...
Exercise 11-10 Recording and reporting treasury stock transactions LO P3 On October 10, the stockholders' equity of Sherman Systems appears as follows. Common stock-$10 par value, 90,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 900,000 306,000 1,008,000 $2,214,000 Print 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 6,800 shares of its own common stock at $43 per share on October 11....
Exercise 11-12 Recording and reporting treasury stock transactions LO P3 On October 10, the stockholders' equity of Sherman Systems appears as follows. Common stock-$10 par value, 82,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 820,000 266,000 944,000 $2,030,000 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 6,000 shares of its own common stock at $35 per share on October 11. b....
Exercise 11-12 Recording and reporting treasury stock transactions LO P3 On October 10, the stockholders' equity of Sherman Systems appears as follows. Common stock-$10 par value, 87,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 870,000 291,000 984,000 $2,145,000 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 6,500 shares of its own common stock at $40 per share on October 11. b....
Exercise 11-10 Recording and reporting treasury stock transactions LO P3 On October 10, the stockholders' equity of Sherman Systems appears as follows. Common stock-$10 par value, 84,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 840,000 276,000 960,000 $2,076,000 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 6,200 shares of its own common stock at $37 per share on October 11. b....
Exercise 11-10 Recording and reporting treasury stock transactions LO P3 On October 10, the stockholders equity of Sherman System appear to Con stock-110 par value, 81.00 shares on stock Pald.in capital in excess of per value Retained earnings Total stockholders equity 1. Prepare journal entries to record the following transactions for Sher Sitems 6. Purchased 5,900 shares of its own common stock of 34 per share on October b. Sold 1225 treasury shares on November 1 for $40 cash per...
Exercise 11-10 Recording and reporting treasury stock transactions LO P3 On October 10, the stockholders equity of Sherman System appear to Con stock-110 par value, 81.00 shares on stock Pald.in capital in excess of per value Retained earnings Total stockholders equity 1. Prepare journal entries to record the following transactions for Sher Sitems 6. Purchased 5,900 shares of its own common stock of 34 per share on October b. Sold 1225 treasury shares on November 1 for $40 cash per...
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...
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 1. Prepare Journal entries to record the following transactions for Sherman Systems. a. Purchased 5,800 shares of its own common stock at $33 per share on October 11. b. Sold 1,200 treasury shares on November 1 for $39 cash per share. c. Sold all remaining treasury shares on November 25 for...
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