Corporations may at times repurchase shares of common stock from shareholders. These repurchased shares are referred...
Corporations may at times repurchase shares of common stock from shareholders. These repurchased shares are referred to as Treasury Stock
A. True
B. False
Homework Answers
Solution :
A.True : Treasury stock is a part of previously issued, outstanding shares of stock which a company has bought back from its shareholders. These
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Corporations may at times repurchase shares of common stock from
shareholders. These repurchased shares are referred...
On January 1st, the firm repurchase 3,800 shares of $0.01 par value common stock for $48...
On January 1st, the firm repurchase 3,800 shares of $0.01 par value common stock for $48 cash per share. On January 31st, the firm resells 310 of the repurchased shares for $35 cash per share. What value does the firm record as decrease to the treasury stock account on January 31st? Your Answer: Answer On January 1st, the firm repurchase 7,700 shares of $0.10 par value common stock for $49 cash per share. On January 31st, the firm resells 200...
A corporations common stock shares will be defined in three ways: shares authorized, shares issued, and...
A corporations common stock shares will be defined in three ways: shares authorized, shares issued, and shares outstanding. A. True B. False
Starbucks repurchased over $1.4 billion of its common stock in 2015. How did this repurchase affect...
Starbucks repurchased over $1.4 billion of its common stock in 2015. How did this repurchase affect Starbucks' ROE? ROE usually decreases since the repurchase of shares reduces the denominator (avg. stockholders' equity). ROE usually increases since the repurchase of shares reduces the denominator (avg. stockholders' equity). ROE usually increases since the repurchase of shares increases the denominator (avg. stockholders' equity). ROE usually decreases since the repurchase of shares increases the denominator (avg. stockholders' equity).
Weldon Wire has issued 2,500,000 shares of $2 par common stock at an average price of...
Weldon Wire has issued 2,500,000 shares of $2 par common stock at an average price of $10 per share. Of these, 100,000 shares were repurchased during the year for $15 each and retired. Another 200,000 shares of the shares were repurchased for $17 each and are being held for later use. There were no other common stock transactions during the year. Required: Determine the balance in each of the following shareholders' equity accounts: Common stock-par; Additional paid-in capital; and Treasury...
Prior to May 1, Fortune Company has never had any treasury stock transactions. A company repurchased...
Prior to May 1, Fortune Company has never had any treasury stock transactions. A company repurchased 100 shares of its common stock on May 1 for $5,000. On July 1, it reissued 50 of these shares at $52 per share. On August 1, it reissued the remaining treasury shares at $49 per share. What is the balance in the Paid-in Capital, Treasury Stock account on August 2? Multiple Choice $5,050. $2,600. $100. $50. $0.
Problem 14-3A Excel Spreadsheet Template Journalizing dividend and share. repurchase transactions, report- ing shareholders' equity 2....
Problem 14-3A Excel Spreadsheet Template Journalizing dividend and share. repurchase transactions, report- ing shareholders' equity 2. Total shareholders' equity, $435,000 The balance sheet of Gaitree Ltd. at December 31, 2016, reported 250,000 common shares authorized, with 75,000 shares issued and a Common Shares balance of $187,500. Retained Earnings had a credit balance of $150,000. During 2017, the company completed the follow- ing selected transactions: Mar. 15 Repurchased 10,000 of the company's own common shares at $2.75 per share. Apr. 29...
February 1, Jones repurchased 2,000 shares of treasury stock at a price of $18 per share. March...
February 1, Jones repurchased 2,000 shares of treasury stock at a price of $18 per share. March 1, 800 shares of treasury stock repurchased above were reissued at $17 per share. March 18, 500 shares of treasury stock repurchased above were reissued at $14 per share. April 22, 600 shares of treasury stock repurchased above were reissued at $20 per share. Instructions: Prepare the journal entries to record the treasury stock transactions in 2007, assuming Jones uses the cost method.
ABC, Inc. Shareholders’ Equity Paid-in capital: Common stock, 300,000 shares at $1.00 par $300,000 Paid-in capital...
ABC, Inc. Shareholders’ Equity Paid-in capital: Common stock, 300,000 shares at $1.00 par $300,000 Paid-in capital in excess of par 600,000 Less: Treasury stock, 50,000 shares at cost (50,000) Total shareholders’ equity $850,000 In Texas, the number of treasury shares owned by the shareholders of ABC, Inc. are: a. 250,000 b. 300,000 c. 50,000 d. Cannot be determined from the information provided. e. None of the other choices are correct.
Problem 3: Share buybacks (12 pts) The shareholders' equity section of the balance sheet of Genesis...
Problem 3: Share buybacks (12 pts) The shareholders' equity section of the balance sheet of Genesis Inc. at 1210 Shareholders' Equity Common stock, 200 million shares at $1 par Paid-in capital-excess of par Paid-in capital-share repurchase Retained Earnings On March 11, 2019. Genesis purchased back 3 million shares at $14 per share In millions $200 1,800 13 60,000 On July 29, 2019. Genesis sold 1 million shares at $15 per share. Required: a. Prepare journal entries to record the above...
Knowledge Check 01 repurchased 1,000 shares of its stock for $25 per share. Prepare the appropriate...
Knowledge Check 01 repurchased 1,000 shares of its stock for $25 per share. Prepare the appropriate journal entry to record the repurchase of the shares, ( no entry is required for a transaction/event, select ly Milad Corporation issued 5,000 shares of $005 par value common stock for $10 per share. Today, the company No Journal Entry Required" in the first account field.) Journal entry worksheet Record the repurchase of 1,000 shares of its own stock for $25 per share. debits...
On January 1st, the firm repurchase 3,800 shares of $0.01 par value common stock for $48 cash per share. On January 31st, the firm resells 310 of the repurchased shares for $35 cash per share. What value does the firm record as decrease to the treasury stock account on January 31st? Your Answer: Answer On January 1st, the firm repurchase 7,700 shares of $0.10 par value common stock for $49 cash per share. On January 31st, the firm resells 200...
Weldon Wire has issued 2,500,000 shares of $2 par common stock at an average price of $10 per share. Of these, 100,000 shares were repurchased during the year for $15 each and retired. Another 200,000 shares of the shares were repurchased for $17 each and are being held for later use. There were no other common stock transactions during the year. Required: Determine the balance in each of the following shareholders' equity accounts: Common stock-par; Additional paid-in capital; and Treasury...
Problem 14-3A Excel Spreadsheet Template Journalizing dividend and share. repurchase transactions, report- ing shareholders' equity 2. Total shareholders' equity, $435,000 The balance sheet of Gaitree Ltd. at December 31, 2016, reported 250,000 common shares authorized, with 75,000 shares issued and a Common Shares balance of $187,500. Retained Earnings had a credit balance of $150,000. During 2017, the company completed the follow- ing selected transactions: Mar. 15 Repurchased 10,000 of the company's own common shares at $2.75 per share. Apr. 29...
Problem 3: Share buybacks (12 pts) The shareholders' equity section of the balance sheet of Genesis Inc. at 1210 Shareholders' Equity Common stock, 200 million shares at $1 par Paid-in capital-excess of par Paid-in capital-share repurchase Retained Earnings On March 11, 2019. Genesis purchased back 3 million shares at $14 per share In millions $200 1,800 13 60,000 On July 29, 2019. Genesis sold 1 million shares at $15 per share. Required: a. Prepare journal entries to record the above...
Knowledge Check 01 repurchased 1,000 shares of its stock for $25 per share. Prepare the appropriate journal entry to record the repurchase of the shares, ( no entry is required for a transaction/event, select ly Milad Corporation issued 5,000 shares of $005 par value common stock for $10 per share. Today, the company No Journal Entry Required" in the first account field.) Journal entry worksheet Record the repurchase of 1,000 shares of its own stock for $25 per share. debits...
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