Homework Answers
OPTION B------ Treasury stock decreases by 30000.
Journal entry on re-issue of treasury stock will be -
| Particulars | Debit | Credit |
|
Cash Treasury Stock Paid in capital from treasury stock |
45000 |
30000 15000 |
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Dynex Inc. has 5,000 shares of treasury stock with a total cost of $50,000. The company...
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On January 1, 2020, Oriole Inc. had the following stockholders' equity balances. Common Stock (595,000 shares...
On January 1, 2020, Oriole Inc. had the following stockholders'
equity balances.
Common Stock (595,000 shares
issued)
$1,190,000
Paid-in Capital in Excess of
Par-Common Stock
530,000
Common Stock Dividends
Distributable
210,000
Retained Earnings
640,000
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1.
Issued 105,000 shares of $2 par value common stock as a result
of 15% stock dividend declared on December 15, 2021.
2.
Issued 52,500 shares of common stock for cash at $4 per
share.
3.
Purchased 30,000...
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a corporation issues 50,000 shares of $50 par common stock and holds 5,000 shares of these...
a corporation issues 50,000 shares of $50 par common stock and holds 5,000 shares of these shares as treasury stock. if the corporation declares a $3 per share cash dividend, what amount will be record as a cash dividend and (b) record the entry for the Issuance of the stocks and (c) the payment of the cash dividend.
Issued 5,000 shares of $1 par common stock for $50,000 cash. Record the transaction 1 Collected $3,000 from customers on account. Record the transaction 3 Reacquired 3,000 shares of $1 par common stock into treasury for $33,000 cash. Record the transaction Reissued 2,000 shares of treasury stock for $24,000 cash. Record the transaction. Reissued 600 shares of treasury stock for $4,600 cash. 5 Record the transaction. Declared (but did not yet pay) a $1 cash dividend on each outstanding share...
On January 1, 2020, Oriole Inc. had the following stockholders'
equity balances.
Common Stock (595,000 shares
issued)
$1,190,000
Paid-in Capital in Excess of
Par-Common Stock
530,000
Common Stock Dividends
Distributable
210,000
Retained Earnings
640,000
During 2020, the following transactions and events occurred.
1.
Issued 105,000 shares of $2 par value common stock as a result
of 15% stock dividend declared on December 15, 2021.
2.
Issued 52,500 shares of common stock for cash at $4 per
share.
3.
Purchased 30,000...
2. BCC Inc. has 390,000 shares of $10 par value common stock issued and outstanding. REQUIRED (24 points) Prepare journal entries to record the following (round to nearest dollar.) Jan. 3, 2020 Issued 15,000 shares for $15 per share Jan 15 Purchased 5,000 shares of treasury stock at $17 Jan 22 Declared a dividend of $1.50 per share on the outstanding shares of common stock. Feb. 8 Paid the dividend declared on January 22. Sep. 1 Declared a 5% stock...
2. BCC Inc. has 390,000 shares of $10 par value common stock issued and outstanding. REQUIRED (24 points) Prepare journal entries to record the following (round to nearest dollar.) Jan. 3, 2020 Issued 15,000 shares for $15 per share Jan 15 Purchased 5,000 shares of treasury stock at $17 Jan 22 Declared a dividend of $1.50 per share on the outstanding shares of common stock. Feb. 8 Paid the dividend declared on January 22. Sep. 1 Declared a 5% stock...
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Adam Company Inc. 2018. Journalize the ollowing transactions On J value of stock $10. uly 1", 2018 Adam Company issued 50,000 shares of common stock at $14 per share, par th Adam Company issued 500 shares of common stock at S 10 par value for legal services rendered by Start Your Company Right Inc. The stock was trading at S 12 per share. Aug.2nd, issued 1000 shares of common stock in exchange of land. The par value of stock is...
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