|
|
|
1)
No. |
Account Titles and Explanation |
Debit |
Credit |
1. |
Treasury stock (290*$97) |
$28130 |
|
Cash |
$28130 |
||
(To record treasury stock purchased) | |||
2. |
Retained earnings (459100/100-290)*$22 |
$94622 |
|
Dividends payable |
$94622 |
||
(To record cash dividend declared) | |||
3. |
Dividend payable |
$94622 |
|
Cash |
$94622 |
||
(To record cash dividend paid) | |||
4. |
Cash (290*$103) |
$29870 |
|
Treasury stock (290*$97) |
$28130 |
||
Paid in capital from Treasury stock (29870-28130) |
$1740 |
||
(To record treasury stock sold) | |||
5. |
Treasury stock (500*$105) |
$52500 |
|
Cash |
$52500 |
||
(To record treasury stock purchased) | |||
6. |
Cash (380*$96) |
$36480 |
|
Paid in capital from Treasury stock |
$1740 |
||
Retained earnings (39900-36480-1740) |
$1680 |
||
Treasury stock (380*$105) |
$39900 |
||
(To record treasury stock sold) |
2)
ORIOLE COMPANY | |
Stockholders’ Equity | |
December 31, 2021 | |
Common stock | $459100 |
Retained earnings | 256698 |
Total Paid-in Capital and Retained Earnings | 715798 |
Less: Treasury stock | 12600 |
Total Stockholders' Equity | $703198 |
Retained earnings= $266700+86300-94622-1680= $256698
Treasury stock= $52500-39900= $12600
Problem 15-06 Oriole Company has the following stockholders’ equity accounts at December 31, 2020. Common Stock...
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