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| Date | accounts & explanation | debit | credit |
| Oct-11 | Treasury stock a/c (7000*45) | 315000 | |
| Cash a/c | 315000 | ||
| (To record stock repurchased) | |||
| Nov-1 | Cash a/c (1500*51) | 76500 | |
| Treasury stock a/c (1500*45) | 67500 | ||
| Paid in capital from sale of treasury stock (1500*6) | 9000 | ||
| (To record reissue treasury stock) | |||
| Nov-25 | Cash a/c (5500*40) | 220000 | |
| Paid in capital from sale of treasury stock (1st Use) | 9000 | ||
| Retained earnings (For balance) | 18500 | ||
| Treasury stock a/c | 247500 |
| Revised Equity Section of Balance Sheet After October 11 | |
| Common Stock $10 par Value 92,000 share | 920000 |
| Paid in capital in excess of par value | 316000 |
| Total Contributed Capital | 1236000 |
| Less: Treasury Stock | 315000 |
| Total | 921000 |
| Add: Retained Earnings | 1024000 |
| Total Stockholders' Equity | 1945000 |
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On October 10, the stockholders' equity of...
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, 76,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 760,000 236,000 896,000 $1,892,000 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 5,400 shares of its own common stock at $29 per share on October 11. b. Sold 1,100 treasury shares on November 1 for $35 cash...
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...
Check my work On October 10, the stockholders' equity of Sherman Systems appears as follows. Common...
Check my work On October 10, the stockholders' equity of Sherman Systems appears as follows. Common stock-$10 par value, 77,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings 770,000 241,000 904,000 Total stockholders' equity $1.915,000 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 5,500 shares of its own common stock at $30 per share on October 11. b. Sold 1125 treasury shares on November 1 for...
On October 10, the stockholders’ equity of Sherman Systems appears as follows. Common stock–$10 par...
On October 10, the stockholders’ equity of Sherman Systems appears as follows. Common stock–$10 par value, 95,000 shares authorized, issued, and outstanding $ 950,000 Paid-in capital in excess of par value, common stock 331,000 Retained earnings 1,048,000 Total stockholders’ equity $ 2,329,000 1. Prepare journal entries to record the following transactions for Sherman Systems. Purchased 7,300 shares of its own common stock at $48 per share on October 11. Sold 1,575 treasury shares on November 1 for $54 cash...
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....
I need all three jorunals, thank you On October 10, the stockholders' equity of Sherman Systems...
I
need all three jorunals, thank you
On October 10, the stockholders' equity of Sherman Systems appears as follows. Common stock-$10 par value, 79,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 790,000 251,000 920,000 $1,961,000 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 5,700 shares of its own common stock at $32 per share on October 11. b. Sold 1,175 treasury...
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, 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. Sold 1,300 treasury shares on November 1 for $43 cash...
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...
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, 97,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings $ 970,000 341,000 1,064,000 $2,375,000 Total stockholders' equity 1. Prepare journal entries to record the following transactions for Sherman Systems. G. Purchased 7,500 shares of its own common stock at $50 per share on October 11 b. Sold 1,625 treasury shares on November 1 for $56 cash...
and how to solve for this? Exercise 11-10 Recording and reporting treasury stock transactions LO P3...
and how to solve for this?
Exercise 11-10 Recording and reporting treasury stock transactions LO P3 On October 10, the stockholders' equity of Sherman Systems appears as follows. points 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 Print 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 5,800 shares of its own common stock...
On October 10, the stockholders' equity of Sherman Systems appears as follows. Common stock-$10 par value, 76,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 760,000 236,000 896,000 $1,892,000 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 5,400 shares of its own common stock at $29 per share on October 11. b. Sold 1,100 treasury shares on November 1 for $35 cash...
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...
Check my work On October 10, the stockholders' equity of Sherman Systems appears as follows. Common stock-$10 par value, 77,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings 770,000 241,000 904,000 Total stockholders' equity $1.915,000 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 5,500 shares of its own common stock at $30 per share on October 11. b. Sold 1125 treasury shares on November 1 for...
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....
I
need all three jorunals, thank you
On October 10, the stockholders' equity of Sherman Systems appears as follows. Common stock-$10 par value, 79,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 790,000 251,000 920,000 $1,961,000 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 5,700 shares of its own common stock at $32 per share on October 11. b. Sold 1,175 treasury...
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. Sold 1,300 treasury shares on November 1 for $43 cash...
On October 10, the stockholders' equity of Sherman Systems appears as follows. Common stock-$10 par value, 97,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings $ 970,000 341,000 1,064,000 $2,375,000 Total stockholders' equity 1. Prepare journal entries to record the following transactions for Sherman Systems. G. Purchased 7,500 shares of its own common stock at $50 per share on October 11 b. Sold 1,625 treasury shares on November 1 for $56 cash...
and how to solve for this?
Exercise 11-10 Recording and reporting treasury stock transactions LO P3 On October 10, the stockholders' equity of Sherman Systems appears as follows. points 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 Print 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 5,800 shares of its own common stock...
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