![Exercise 18-11 (Algo) Retirement of shares [LO18-5] ed In 2021, Borland Semiconductors entered into the transactions describe](http://img.homeworklib.com/questions/2b264810-0dcb-11eb-b6de-098d7f9cf5c3.png?x-oss-process=image/resize,w_560)
Homework Answers
Required:
| Date | General Journal | Debit | Credit |
| Jan 2, 2021 | Common stock (10 * $1) | $10 | |
| Paid-in capital - excess of par [10 * ($45 - $1)] | $440 | ||
| Paid-in capital - Share repurchase | $15 | ||
| Cash (10 * $43.50) | $435 | ||
| Mar 3, 2021 | Common stock (10 * $1) | $10 | |
| Paid-in capital - excess of par [10 * ($45 - $1)] | $440 | ||
| Paid-in capital - Share repurchase | $15 | ||
| Retained earnings | $5 | ||
| Cash (10 * $47) | $470 | ||
| Aug 13, 2021 | Cash (1 * $53) | $53 | |
| Common stock | $1 | ||
| Paid-in capital - excess of par | $52 | ||
| Dec 15, 2021 | Cash (2 * $47) | $94 | |
| Common stock | $2 | ||
| Paid-in capital - excess of par | $92 |
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Exercise 18-11 (Algo) Retirement of shares [LO18-5] ed In 2021, Borland Semiconductors entered into the transactions...
In 2018, Borland Semiconductors entered into the transactions described below. In 2015, Borland had issued 210...
In 2018, Borland Semiconductors entered into the transactions described below. In 2015, Borland had issued 210 million shares of its $1 par common stock at $45 per share. Required: Assuming that Borland retires shares it reacquires, record the appropriate journal entry for each of the following transactions: (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e. 10,000,000 should be entered as 10).) 1. On January...
In 2018, Borland Semiconductors entered into the transactions described below. In 2015, Borland had issued 155...
In 2018, Borland Semiconductors entered into the transactions described below. In 2015, Borland had issued 155 million shares of its $1 par common stock at $44 per share. Required: Assuming that Borland retires shares it reacquires, record the appropriate journal entry for each of the following transactions: (If no entry is required for a transaction/event, select "No journal entry required" in the first account fleld. Enter your answers in millions i.e., 10,000,000 should be entered as 10)) ook 1 On...
In 2021, Borland Semiconductors entered into the transactions described below. In 2018, Borland had issued 170...
In 2021, Borland Semiconductors entered into the transactions described below. In 2018, Borland had issued 170 million shares of its $1 par common stock at $34 per share. Required: Assuming that Borland retires shares it reacquires, record the appropriate journal entry for each of the following transactions: (if no entry is required for a transaction/event, select "No journal entry required in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) 1. On January...
In 2021, Borland Semiconductors entered into the transactions described below. In 2018, Borland had issued 190...
In 2021, Borland Semiconductors entered into the transactions described below. In 2018, Borland had issued 190 million shares of its $1 par common stock at $36 per share. Required: Assuming that Borland retires shares it reacquires, record the appropriate journal entry for each of the following transactions: (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) 1. On January...
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In 2018, Western Transport Company entered into the treasury stock transactions described below. In 2016, Western Transport had issued 280 million shares of its $1 par common stock at $28 per share Required: Prepare the appropriate journal entry for each of the following transactions: (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) 1. On January 23, 2018, Western...
In 2018, Borland Semiconductors entered into the transactions described below. In 2015, Borland had issued 180 million...
In 2018, Borland Semiconductors entered into the transactions described below. In 2015, Borland had issued 180 million shares of its $1 par common stock at $33 per share. Required: Assuming that Borland retires shares it reacquires, record the appropriate journal entry for each of the following transactions: (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) 1. On January...
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In 2018, Western Transport Company entered into the treasury stock transactions described below. In 2016, Western...
In 2018, Western Transport Company entered into the treasury stock transactions described below. In 2016, Western Transport had issued 170 million shares of its $1 par common stock at $16 per share. Required: Prepare the appropriate journal entry for each of the following transactions: (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) 1. On January 23, 2018, Western...
Exercise 11-12A Treasury stock transactions LO 11-5 Elroy Corporation repurchased 1,800 shares of its own stock...
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Exercise 18-7 (Algo) Share issue costs; issuance (LO18-4) ICOT industries issued 16 million of its S1 par common shares for $444 million on April 11. Legal, promotional, and accounting services necessary to effect the sale cost $2 million Required: 1. Prepare the journal entry to record the issuance of the shares. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as...
In 2018, Borland Semiconductors entered into the transactions described below. In 2015, Borland had issued 210 million shares of its $1 par common stock at $45 per share. Required: Assuming that Borland retires shares it reacquires, record the appropriate journal entry for each of the following transactions: (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e. 10,000,000 should be entered as 10).) 1. On January...
In 2018, Borland Semiconductors entered into the transactions described below. In 2015, Borland had issued 155 million shares of its $1 par common stock at $44 per share. Required: Assuming that Borland retires shares it reacquires, record the appropriate journal entry for each of the following transactions: (If no entry is required for a transaction/event, select "No journal entry required" in the first account fleld. Enter your answers in millions i.e., 10,000,000 should be entered as 10)) ook 1 On...
In 2021, Borland Semiconductors entered into the transactions described below. In 2018, Borland had issued 170 million shares of its $1 par common stock at $34 per share. Required: Assuming that Borland retires shares it reacquires, record the appropriate journal entry for each of the following transactions: (if no entry is required for a transaction/event, select "No journal entry required in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) 1. On January...
In 2021, Borland Semiconductors entered into the transactions described below. In 2018, Borland had issued 190 million shares of its $1 par common stock at $36 per share. Required: Assuming that Borland retires shares it reacquires, record the appropriate journal entry for each of the following transactions: (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) 1. On January...
In 2018, Western Transport Company entered into the treasury stock transactions described below. In 2016, Western Transport had issued 280 million shares of its $1 par common stock at $28 per share Required: Prepare the appropriate journal entry for each of the following transactions: (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) 1. On January 23, 2018, Western...
In 2018, Borland Semiconductors entered into the transactions described below. In 2015, Borland had issued 180 million shares of its $1 par common stock at $33 per share. Required: Assuming that Borland retires shares it reacquires, record the appropriate journal entry for each of the following transactions: (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) 1. On January...
Exercise 18-17 (Algo) Transactions affecting retained earnings [LO18-6, 18-7] Shown below in T-account format are the changes affecting the retained earnings of Brenner Jude Corporation during 2021. At January 1, 2021, the corporation had outstanding 108 million common shares, $1 par per share. Retained Earnings (5 in millions) Beginning balance Retirement of million common shares for 93 522 million 5 82 Net Income for the year 36 Declaration and payment of a 50.36 per share cash dividend Declaration and distribution...
In 2018, Western Transport Company entered into the treasury stock transactions described below. In 2016, Western Transport had issued 170 million shares of its $1 par common stock at $16 per share. Required: Prepare the appropriate journal entry for each of the following transactions: (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) 1. On January 23, 2018, Western...
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