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question 18
The shareholders' equity section of the balance sheet of TNL Systems Inc. included the...
The shareholders' equity section of the balance sheet of TNL Systems Inc, included the following accounts...
The shareholders' equity section of the balance sheet of TNL Systems Inc, included the following accounts at December 31, 2020: Shareholders' Equity Common stock, 290 million shares at $l par Paid-in capital-excess of par Paid-in capital-share repurchase Retained earnings ($ in millions) $ 290 2,030 1,900 Required: 1. During 2021, TNL Systems reacquired shares of its common stock and later sold shares in two separate transactions. Prepare the entries for both the purchase and subsequent resale of the shares assuming...
The shareholders' equity section of the balance sheet of TNL Systems Inc. included the following accounts...
The shareholders' equity section of the balance sheet of TNL Systems Inc. included the following accounts at December 31, 2020: Shareholders' Equity Common stock, 270 million shares at $1 par Paid-in capital-excess of par Paid in capital-share repurchase Retained earnings (s in millions) $ 270 1,890 2 1,700 Required: 1. During 2021, TNL Systems reacquired shares of its common stock and later sold shares in two separate transactions. Prepare the entries for both the purchase and subsequent resale of the...
The shareholders’ equity section of the balance sheet of TNL Systems Inc. included the following accounts...
The shareholders’ equity section of the balance sheet of TNL Systems Inc. included the following accounts at December 31, 2020: Shareholders' Equity ($ in millions) Common stock, 270 million shares at $1 par $ 270 Paid-in capital—excess of par 1,890 Paid-in capital—share repurchase 2 Retained earnings 1,700 Required: 1. During 2021, TNL Systems reacquired shares of its common stock and later sold shares in two separate transactions. Prepare the entries for both the purchase and subsequent resale of the shares...
The shareholders' equity section of the balance sheet of TNL Systems Inc. included the following accounts...
The shareholders' equity section of the balance sheet of TNL Systems Inc. included the following accounts at December 31,2017: (in millions) $ 280 1,680 Shareholders' Equity Common stock, 280 million shares at $1 par Paid-in capital-excess of par Paid-in capital-share repurchase Retained earnings 1,800 Required During 2018, TNL Systems reacquired shares of its common stock and later sold shares in two separate transactions. Prepare the entries for both the purchase and subsequent resale of the shares assuming the shares are...
Problem 18-2 Share buyback-comparison of retirement and treasury stock treatment [LO18-5] The shareholders’ equity section of...
Problem 18-2 Share buyback-comparison of retirement and treasury stock treatment [LO18-5] The shareholders’ equity section of the balance sheet of TNL Systems Inc. included the following accounts at December 31, 2017: Shareholders' Equity ($ in millions) Common stock, 210 million shares at $1 par $ 210 Paid-in capital—excess of par 1,260 Paid-in capital—share repurchase 1 Retained earnings 1,200 Required: 1. During 2018, TNL Systems reacquired shares of its common stock and later sold shares in two separate transactions. Prepare the...
The shareholders' equity section of the balance sheet of White, Inc. included the following accounts at...
The shareholders' equity section of the balance sheet of White, Inc. included the following accounts at December 31, 2019: Shareholders’ Equity $ in millions Common stock, 200,000 shares at $1 par, $ 200,000 Paid-in capital – excess of par 1,200,000 Paid-in capital – share repurchase 30,000 Retained earnings 205,000 REQUIRED: a. Prepare the entries below for both the purchase and subsequent resale of shares, treated as retired stock. • On March 6, 2020, White reacquired 40,000 shares of stock at...
National Supply's shareholders' equity included the following accounts at December 31, 2020: Shareholders' Equity Common stock,...
National Supply's shareholders' equity included the following accounts at December 31, 2020: Shareholders' Equity Common stock, 9 million shares at $1 par Paid-in capital-excess of par Retained earnings $ 9,000,000 63,000,000 92,500,000 Required: 1. National Supply reacquired shares of its common stock in two separate transactions and later sold shares. Prepare the entries for each of the transactions under each of two separate assumptions: the shares are (a) retired and (b) accounted for as treasury stock. February 15, 2021 February...
National Supply's shareholders' equity included the following accounts at December 31, 2020: Shareholders' Equity Common stock,...
National Supply's shareholders' equity included the following accounts at December 31, 2020: Shareholders' Equity Common stock, 3 million shares at $1 par Paid-in capital-excess of par Retained earnings $ 3,000,000 21, eee, eee 83,500,000 Required: 1. National Supply reacquired shares of its common stock in two separate transactions and later sold shares. Prepare the entries for each of the transactions under each of two separate assumptions: the shares are (a) retired and (b) accounted for as treasury stock February 15,...
National Supply's shareholders' equity included the following accounts at December 31, 2020: 1 Shareholders' Equity Common...
National Supply's shareholders' equity included the following accounts at December 31, 2020: 1 Shareholders' Equity Common stock, 7 million shares at $1 par Paid-in capital-excess of par Retained earnings $ 7,000,000 49,000,000 77,500,000 00:37:23 Required: 1. National Supply reacquired shares of its common stock in two separate transactions and later sold shares. Prepare the entries for each of the transactions under each of two separate assumptions: the shares are (a) retired and (b) accounted for as treasury stock. February 15,...
Intermediate Accounting by authors: Spiceland, Nelson, and Thomas. Ch.18 P-2 On part 1-c.) (viewed as Treasury Stock), w...
Intermediate Accounting by authors: Spiceland, Nelson, and
Thomas. Ch.18 P-2 On part 1-c.) (viewed as Treasury Stock), why is
Paid-In-Capital Share Repurchase debited by 5,000,000 and Retained
Earnings debited by 1,000,000?
The shareholders' equity section of the balance sheet of TNL Systems Inc. included the following accounts at December 31, 2017: ($ in millions) $ 240 1,680 Shareholders' Equity Common stock, 240 million shares at $1 par Paid-in capital excess of par Paid-in capital-share repurchase Retained earnings Required: 1,100 1....
The shareholders' equity section of the balance sheet of TNL Systems Inc, included the following accounts at December 31, 2020: Shareholders' Equity Common stock, 290 million shares at $l par Paid-in capital-excess of par Paid-in capital-share repurchase Retained earnings ($ in millions) $ 290 2,030 1,900 Required: 1. During 2021, TNL Systems reacquired shares of its common stock and later sold shares in two separate transactions. Prepare the entries for both the purchase and subsequent resale of the shares assuming...
The shareholders' equity section of the balance sheet of TNL Systems Inc. included the following accounts at December 31, 2020: Shareholders' Equity Common stock, 270 million shares at $1 par Paid-in capital-excess of par Paid in capital-share repurchase Retained earnings (s in millions) $ 270 1,890 2 1,700 Required: 1. During 2021, TNL Systems reacquired shares of its common stock and later sold shares in two separate transactions. Prepare the entries for both the purchase and subsequent resale of the...
The shareholders' equity section of the balance sheet of TNL Systems Inc. included the following accounts at December 31,2017: (in millions) $ 280 1,680 Shareholders' Equity Common stock, 280 million shares at $1 par Paid-in capital-excess of par Paid-in capital-share repurchase Retained earnings 1,800 Required During 2018, TNL Systems reacquired shares of its common stock and later sold shares in two separate transactions. Prepare the entries for both the purchase and subsequent resale of the shares assuming the shares are...
National Supply's shareholders' equity included the following accounts at December 31, 2020: Shareholders' Equity Common stock, 9 million shares at $1 par Paid-in capital-excess of par Retained earnings $ 9,000,000 63,000,000 92,500,000 Required: 1. National Supply reacquired shares of its common stock in two separate transactions and later sold shares. Prepare the entries for each of the transactions under each of two separate assumptions: the shares are (a) retired and (b) accounted for as treasury stock. February 15, 2021 February...
National Supply's shareholders' equity included the following accounts at December 31, 2020: Shareholders' Equity Common stock, 3 million shares at $1 par Paid-in capital-excess of par Retained earnings $ 3,000,000 21, eee, eee 83,500,000 Required: 1. National Supply reacquired shares of its common stock in two separate transactions and later sold shares. Prepare the entries for each of the transactions under each of two separate assumptions: the shares are (a) retired and (b) accounted for as treasury stock February 15,...
National Supply's shareholders' equity included the following accounts at December 31, 2020: 1 Shareholders' Equity Common stock, 7 million shares at $1 par Paid-in capital-excess of par Retained earnings $ 7,000,000 49,000,000 77,500,000 00:37:23 Required: 1. National Supply reacquired shares of its common stock in two separate transactions and later sold shares. Prepare the entries for each of the transactions under each of two separate assumptions: the shares are (a) retired and (b) accounted for as treasury stock. February 15,...
Intermediate Accounting by authors: Spiceland, Nelson, and
Thomas. Ch.18 P-2 On part 1-c.) (viewed as Treasury Stock), why is
Paid-In-Capital Share Repurchase debited by 5,000,000 and Retained
Earnings debited by 1,000,000?
The shareholders' equity section of the balance sheet of TNL Systems Inc. included the following accounts at December 31, 2017: ($ in millions) $ 240 1,680 Shareholders' Equity Common stock, 240 million shares at $1 par Paid-in capital excess of par Paid-in capital-share repurchase Retained earnings Required: 1,100 1....
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