Homework Answers
| Date | Account titles and explanation | Debit(in $) | Credit(in $) | ||
| Jan-03 | Treasury Stock(2,100 sahres*$9) | 18,900 | |||
| Cash | 18,900 | ||||
| (To treasury stock purchased for cash) | |||||
| Jan-30 | Cash(1,400 shares*$11) | 15,400 | |||
| Treasury Stock(1,400 sahres*$9) | 12,600 | ||||
| Paid-in-capital from Treasury stock | 2,800 | ||||
| (To treasury stock sold at premium) | |||||
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T. On January Puttan Copo purchased 2,100 shares of the com uy stock paig cash of...
Please answer in same format. 7. On January 3, Spartan Corporation purchased 1,900 shares of the...
Please answer in same format.
7. On January 3, Spartan Corporation purchased 1,900 shares of the company's S1 par value common stock as treasury stock, paying cash of $8 per share. On January 30, Spartan sold 1,400 shares of the treasury stock for cash of S9 per share. Journalize these transactions. (Record debits first, then credits. Select the explanation on the last line of the joumal entry tablo.) Journalize the purchase of the treasury stock. Date Accounts and Explanation Debit...
7. On January 3, Halsall Corporation purchased 1,800 shares of the company's $1 par value common...
7. On January 3, Halsall Corporation purchased 1,800 shares of the company's $1 par value common stock as treasury stock, paying cash of $7 per share. On January 30, Halsall sold 1,100 shares of the treasury stock for cash of $8 per share Journalize these transactions. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Journalize the purchase of the treasury stock Date Accounts and Explanation Credit Debit Jan. 3 Journalize the...
Current Attempt in Progress - / 100 iii Martinez Corporation purchased from its stockholders 5,000 shares...
Current Attempt in Progress - / 100 iii Martinez Corporation purchased from its stockholders 5,000 shares of its own previously issued stock for $260,000. It later resold 2,100 shares for $55 per share, then 2,100 more shares for $50 per share, and finally 800 shares for $44 per share. Prepare journal entries for the purchase of the treasury stock and the three sales of treasury stock. (Credit account titles are automatically Indented when amount is entered. Do not indent manually...
Sheffield Corp. purchased from its stockholders 5,200 shares of its own previously issued stock for $249,600....
Sheffield Corp. purchased from its stockholders 5,200 shares of its own previously issued stock for $249,600. It later resold 1,900 shares for $51 per share, then 1,900 more shares for $46 per share, and finally 1,400 shares for $40 per share. Prepare journal entries for the purchase of the treasury stock and the three sales of treasury stock. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry"...
Flounder Corp. was organized on January 1, 2022. It is authorized to issue 21,500 shares of...
Flounder Corp. was organized on January 1, 2022. It is authorized to issue 21,500 shares of 5%, 552 par value preferred stock and 455,000 shares of no-par common stock with a stated value of $1 per share. The following stock transactions were completed during the first year. Jan. 10 Issued 67,500 shares of common stock for cash at $5 per share. Mar. 1 Issued 1.150 shares of preferred stock for cash at $56 per share. May 1 Issued 112,500 shares...
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.)
On April 2 a corporation purchased for cash 6,000 shares of its own $11 par common...
On April 2 a corporation purchased for cash 6,000 shares of its own $11 par common stock at $29 per share. It sold 4,000 of the treasury shares at $32 per share on June 10. The remaining 2000 shares were sold on November 10 for $25 per share. a. Journalize the entries to record the purchase (treasury stock is recorded at cost). Apr. 2 b. Journalize the entries to record the sale of the stock. If an amount box does...
On April 2 a corporation purchased for cash 6,000 shares of its own $12 par common...
On April 2 a corporation purchased for cash 6,000 shares of its own $12 par common stock at $27 per share. It sold 4,000 of the treasury shares at $30 per share on June 10. The remaining 2000 shares were sold on November 10 for $23 per share. a. Journalize the entries to record the purchase (treasury stock is recorded at cost). Apr. 2 b. Journalize the entries to record the sale of the stock. If an amount box does...
On April 2 a corporation purchased for cash 7,000 shares of its own $11 par common...
On April 2 a corporation purchased for cash 7,000 shares of its own $11 par common stock at $28 per share. It sold 4,000 of the treasury shares at $31 per share on June 10. The remaining 3000 shares were sold on November 10 for $24 per share. a. Journalize the entries to record the purchase (treasury stock is recorded at cost). Apr. 2 b. Journalize the entries to record the sale of the stock. If an amount box does...
On April 2 a corporation purchased for cash 7,000 shares of its own $13 par common...
On April 2 a corporation purchased for cash 7,000 shares of its own $13 par common stock at $28 per share. It sold 4,000 of the treasury shares at $31 per share on June 10. The remaining 3000 shares were sold on November 10 for $24 per share. a. Journalize the entries to record the purchase (treasury stock is recorded at cost). Apr. 2 b. Journalize the entries to record the sale of the stock. If an amount box does...
Please answer in same format.
7. On January 3, Spartan Corporation purchased 1,900 shares of the company's S1 par value common stock as treasury stock, paying cash of $8 per share. On January 30, Spartan sold 1,400 shares of the treasury stock for cash of S9 per share. Journalize these transactions. (Record debits first, then credits. Select the explanation on the last line of the joumal entry tablo.) Journalize the purchase of the treasury stock. Date Accounts and Explanation Debit...
7. On January 3, Halsall Corporation purchased 1,800 shares of the company's $1 par value common stock as treasury stock, paying cash of $7 per share. On January 30, Halsall sold 1,100 shares of the treasury stock for cash of $8 per share Journalize these transactions. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Journalize the purchase of the treasury stock Date Accounts and Explanation Credit Debit Jan. 3 Journalize the...
Current Attempt in Progress - / 100 iii Martinez Corporation purchased from its stockholders 5,000 shares of its own previously issued stock for $260,000. It later resold 2,100 shares for $55 per share, then 2,100 more shares for $50 per share, and finally 800 shares for $44 per share. Prepare journal entries for the purchase of the treasury stock and the three sales of treasury stock. (Credit account titles are automatically Indented when amount is entered. Do not indent manually...
Sheffield Corp. purchased from its stockholders 5,200 shares of its own previously issued stock for $249,600. It later resold 1,900 shares for $51 per share, then 1,900 more shares for $46 per share, and finally 1,400 shares for $40 per share. Prepare journal entries for the purchase of the treasury stock and the three sales of treasury stock. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry"...
Flounder Corp. was organized on January 1, 2022. It is authorized to issue 21,500 shares of 5%, 552 par value preferred stock and 455,000 shares of no-par common stock with a stated value of $1 per share. The following stock transactions were completed during the first year. Jan. 10 Issued 67,500 shares of common stock for cash at $5 per share. Mar. 1 Issued 1.150 shares of preferred stock for cash at $56 per share. May 1 Issued 112,500 shares...
On April 2 a corporation purchased for cash 6,000 shares of its own $11 par common stock at $29 per share. It sold 4,000 of the treasury shares at $32 per share on June 10. The remaining 2000 shares were sold on November 10 for $25 per share. a. Journalize the entries to record the purchase (treasury stock is recorded at cost). Apr. 2 b. Journalize the entries to record the sale of the stock. If an amount box does...
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