Homework Answers
| Date | Account | Debit | Credit |
| 8/1/10 | Treasury stock | 18920 | |
| Cash (220*86) | 18920 | ||
| 11/1/20 | Cash (220*77) | 16940 | |
| Paid in capital from treasury stock | 1980 | ||
| Treasury stock (220*86) | 18920 |
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Pina Corporation has outstanding 20,000 shares of $5 par value common stock. On August 1, 2020,...
Sage Inc. has outstanding 12,800 shares of $10 par value common stock. On July 1, 2020,...
Sage Inc. has outstanding 12,800 shares of $10 par value common stock. On July 1, 2020, Sage reacquired 100 shares at $86 per share. On September 1, Sage reissued 61 shares at $94 per share. On November 1, Sage reissued 39 shares at $83 per share. Prepare Sage’s journal entries to record these transactions using the cost method. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry"...
Sprinkle Inc. has outstanding 10,000 shares of $10 par value common stock. On July 1, 2017,...
Sprinkle Inc. has outstanding 10,000 shares of $10 par value
common stock. On July 1, 2017, Sprinkle reacquired 100 shares at
$87 per share. On September 1, Sprinkle reissued 60 shares at $90
per share. On November 1, Sprinkle reissued 40 shares at $83 per
share.
Prepare Sprinkle’s journal entries to record these transactions
using the cost method. (Credit account titles are
automatically indented when the amount is entered. Do not indent
manually. If no entry is required, select "No...
Brief Exercise 15-08 Nash Inc. has outstanding 10,600 shares of $10 par value common stock. On...
Brief Exercise 15-08 Nash Inc. has outstanding 10,600 shares of $10 par value common stock. On July 1, 2020, Nash reacquired 105 shares at $87 per share. On September 1, Nash reissued 64 shares at $90 per share. On November 1, Nash reissued 41 shares at $85 per share. Prepare Nash's journal entries to record these transactions using the cost method. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required,...
Brief Exercise 15-8 Concord Inc. has outstanding 13,600 shares of $10 par value common stock. On...
Brief Exercise 15-8 Concord Inc. has outstanding 13,600 shares of $10 par value common stock. On July 1, 2017, Concord reacquired 105 shares at $87 per share. On September 1, Concord reissued 63 shares at $90 per share. On November 1, Concord reissued 42 shares at $85 per share. Prepare Concord's journal entries to record these transactions using the cost method. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required,...
CULATOR MESSAGE MY INSTR Brief Exercise 15-9 Skysong Corporation has outstanding 22,000 shares of $5 par...
CULATOR MESSAGE MY INSTR Brief Exercise 15-9 Skysong Corporation has outstanding 22,000 shares of $5 par value common stock. On August 1, 2017, Skysong reacquired 210 shares at $80 per share. On November 1, Skysong reissued the 210 shares at $68 per share. Skysong had no previous treasury stock transactions Prepare Skysong's journal entries to record these transactions using the cost method. (Credit account titles are automatically Indented when amount is entered Do not indent manually. If no entry is...
ageport corporation as outstanding 2, snares or par value common stock. Un August 1, 2017, Windgeport...
ageport corporation as outstanding 2, snares or par value common stock. Un August 1, 2017, Windgeport required to share at shu per share. On November 1, Bridgeport reiss the 180 shares at $71 per share. Bridgeport had no previous treasury stock transactions Prepare Bridgeport's journal entries to record these transactions using the cost method. (Credit account titles are automatically Indented when amount is entered. Do not Indent manually If no entry is required, select No Entry for the account des...
Brief Exercise 15-08 Sprinkle Inc. has outstanding 10,000 shares of $10 par value common stock. On...
Brief Exercise 15-08 Sprinkle Inc. has outstanding 10,000 shares of $10 par value common stock. On July 1, 2020, Sprinkle reacquired 100 shares at $87 per share. On September 1, Sprinkle reissued 60 shares at $90 per share. On November 1, Sprinkle reissued 40 shares at $83 per share. Prepare Sprinkle's journal entries to record these transactions using the cost method. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required,...
Current Attempt in Progress In 2020. Pina Inc. issued 1.200 shares of $10 par value common...
Current Attempt in Progress In 2020. Pina Inc. issued 1.200 shares of $10 par value common stock for land worth $41,000. (a) Prepare Pina's journal entry to record the transaction. (Credit account titles are automatically indented when amou indent manually. If no entry is required, select "No entry for the account titles and enter for the amounts.)
Pina Corporation issued 10,500 shares of $2 par value common stock upon conversion of 2.100 shares...
Pina Corporation issued 10,500 shares of $2 par value common stock upon conversion of 2.100 shares of $100 par value preferred stock. The preferred stock was originally issued at $107 per share. The common stock is trading at $25 per share at the time of conversion. Record the conversion of the preferred stock. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and...
Sarasota Corporation purchased 3,500 shares of its $12 par value common stock for $234,500 on August...
Sarasota Corporation purchased 3,500 shares of its $12 par value common stock for $234,500 on August 1. It will hold these shares in the treasury until resold. On December 1, the corporation sold 2,100 shares of treasury stock for cash at $73 per share. Journalize the treasury stock transactions. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Sprinkle Inc. has outstanding 10,000 shares of $10 par value
common stock. On July 1, 2017, Sprinkle reacquired 100 shares at
$87 per share. On September 1, Sprinkle reissued 60 shares at $90
per share. On November 1, Sprinkle reissued 40 shares at $83 per
share.
Prepare Sprinkle’s journal entries to record these transactions
using the cost method. (Credit account titles are
automatically indented when the amount is entered. Do not indent
manually. If no entry is required, select "No...
Brief Exercise 15-08 Nash Inc. has outstanding 10,600 shares of $10 par value common stock. On July 1, 2020, Nash reacquired 105 shares at $87 per share. On September 1, Nash reissued 64 shares at $90 per share. On November 1, Nash reissued 41 shares at $85 per share. Prepare Nash's journal entries to record these transactions using the cost method. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required,...
Brief Exercise 15-8 Concord Inc. has outstanding 13,600 shares of $10 par value common stock. On July 1, 2017, Concord reacquired 105 shares at $87 per share. On September 1, Concord reissued 63 shares at $90 per share. On November 1, Concord reissued 42 shares at $85 per share. Prepare Concord's journal entries to record these transactions using the cost method. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required,...
CULATOR MESSAGE MY INSTR Brief Exercise 15-9 Skysong Corporation has outstanding 22,000 shares of $5 par value common stock. On August 1, 2017, Skysong reacquired 210 shares at $80 per share. On November 1, Skysong reissued the 210 shares at $68 per share. Skysong had no previous treasury stock transactions Prepare Skysong's journal entries to record these transactions using the cost method. (Credit account titles are automatically Indented when amount is entered Do not indent manually. If no entry is...
ageport corporation as outstanding 2, snares or par value common stock. Un August 1, 2017, Windgeport required to share at shu per share. On November 1, Bridgeport reiss the 180 shares at $71 per share. Bridgeport had no previous treasury stock transactions Prepare Bridgeport's journal entries to record these transactions using the cost method. (Credit account titles are automatically Indented when amount is entered. Do not Indent manually If no entry is required, select No Entry for the account des...
Brief Exercise 15-08 Sprinkle Inc. has outstanding 10,000 shares of $10 par value common stock. On July 1, 2020, Sprinkle reacquired 100 shares at $87 per share. On September 1, Sprinkle reissued 60 shares at $90 per share. On November 1, Sprinkle reissued 40 shares at $83 per share. Prepare Sprinkle's journal entries to record these transactions using the cost method. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required,...
Current Attempt in Progress In 2020. Pina Inc. issued 1.200 shares of $10 par value common stock for land worth $41,000. (a) Prepare Pina's journal entry to record the transaction. (Credit account titles are automatically indented when amou indent manually. If no entry is required, select "No entry for the account titles and enter for the amounts.)
Pina Corporation issued 10,500 shares of $2 par value common stock upon conversion of 2.100 shares of $100 par value preferred stock. The preferred stock was originally issued at $107 per share. The common stock is trading at $25 per share at the time of conversion. Record the conversion of the preferred stock. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and...
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