Date | General Journal | Debit | Credit | |
Oct 11 | Treasury Stock | $270,600 | (6,600 x $41) | |
Cash | $270,600 | |||
(To record purchase of treasury stock) | ||||
Nov 01 | Cash | $65,800 | (1,400 x $47) | |
Treasury Stock | $57,400 | (1,400 x $41) | ||
Paid-in Capital - Treasury Stock | $8,400 | (1,400 x $6) | ||
(To record sale of treasury stock) | ||||
Nov 25 | Cash | $187,200 | (5,200 x $36) | |
Paid-in Capital - Treasury Stock | $8,400 | Available | ||
Retained Earnings | $17,600 | Balance | ||
Treasury Stock | $213,200 | (5,200 x $41) | ||
(To record sale of treasury stock) | ||||
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, 72,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 720,000 216,000 864,000 $ 1,800,000 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 5,000 shares of its own common stock at $25 per share on October 11. b. Sold 1,000 treasury shares on November 1 for $31...
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, 97,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 970,000 341,000 1,064,000 $ 2,375,000 1. Prepare journal entries to record the following transactions for Sherman Systems. a. 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...
On October 10, the stockholders’ equity of Sherman Systems appears as follows. Common stock–$10 par value, 90,000 shares authorized, issued, and outstanding $ 900,000 Paid-in capital in excess of par value, common stock 306,000 Retained earnings 1,008,000 Total stockholders’ equity $ 2,214,000 1. Prepare journal entries to record the following transactions for Sherman Systems. Purchased 6,800 shares of its own common stock at $43 per share on October 11. Sold 1,450 treasury shares on November 1 for $49 cash...
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, 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...
On October 10, the stockholders’ equity of Sherman Systems appears as follows. Common stock–$10 par value, 73,000 shares authorized, issued, and outstanding $ 730,000 Paid-in capital in excess of par value, common stock 221,000 Retained earnings 872,000 Total stockholders’ equity $ 1,823,000 1. Prepare journal entries to record the following transactions for Sherman Systems. Purchased 5,100 shares of its own common stock at $26 per share on October 11. Sold 1,025 treasury shares on November 1 for $32 cash...
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...
On October 10, the stockholders' equity of Sherman Systems appears as follows. Common stock-$10 par value, 85,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 850,000 281,000 968,000 $2,099,000 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 6,300 shares of its own common stock at $38 per share on October 11. b. Sold 1,325 treasury shares on November 1 for $44 cash...