Organization 10,000 shares of $2 par value common stock at a price of $25 per share. On Sep. 2, organization reacquires 1,000 shares at $24 per share. On Sep. 16, organization sells 125 treasury shares at $22 per share.
Journal entries for Sep. 2 and Sep. 16
Journal Entries | |||
Date | Account Titles | Debit | Credit |
Sep-02 | Treasury Stock | 24,000 | |
Cash | 24,000 | ||
( Reaquires 1,000 shares @ $ 24 ) | |||
Sep-16 | Cash | 2,750 | |
Additional Paid in Capital | 250 | ||
Treasury Stock | 3,000 | ||
( Sells 125 treasury stock ) | |||
( Cash = 125 shares * $ 22 ) | |||
( Treasury Stock = 125 shares * $ 24 ) | |||
(Additional Paid in Capital = 125 shares * ( $ 24 -$ 22 ) |
Organization 10,000 shares of $2 par value common stock at a price of $25 per share....
Organization 11,000 shares of $1 par value common stock at a price of $19 per share. On Sep. 2, organization reacquires 1,000 shares at $21 per share. On Sep. 16, organization sells 125 treasury shares at $24 per share. Journal entries for Sep. 2 and Sep. 16
XYZ Company issued 10,000 shares of $1 par value common stock at a price of $20 per share. On Jan. 1, XYZ buys back 1,000 of its shares at $22 per share. On Jan. 15, XYZ sells 100 treasury shares at $25 per share. Please write the necessary journal entries for Jan. 1 and Jan. 15.
Coastal Corporation issued 25,000 shares of $11 par value common stock at $22 per share and 6,000 shares of $56 par value, eight percent preferred stock at $84 per share. Later, the company purchased 3,000 shares of its own common stock at $26 per share. a. Prepare the journal entries to record the share issuances and the purchase of the common shares. b. Assume that Coastal sold 2,000 shares of the treasury stock at $30 per share. Prepare the general...
Debit Credit Mar. 4: Issued 20,000 shares of $1 par value common stock at $9 per share. Date Accounts and Explanation Mar. 4 Cash Common Stock-$1 Par Value Paid In Capital in Excess of Par-Common 180,000 20,000 160,000 Issued common stock for cash. May 22: Purchased 1,200 shares of treasury stock-common at $11 per share. Date Accounts and Explanation May 22 Treasury Stock-Common Cash Debit Credit 13,200 13,200 Purchased treasury stock. Credit Sep. 22: Sold 600 shares of treasury stock-common...
Common Stock - par $1, 10,000 shares = $10,000 Preffered stock 10% (par $1, 100,000 shares) = $100,000 Paid in Capital in Excess of Par $500,000 What is the journal entry if the company resold 1,000 shares of treasury stock at $10 cash per share?
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...
Treasury Stock Inland Corporation issued 30,000 shares of $5 par value common stock at $15 per share and 8,000 shares of $50 par value, eight percent preferred stock at $85 per share. Later, the company purchased 3,000 shares of its own common stock at $20 per share. X X 0x X X a. Prepare the journal entries to record the share issuances and the purchase of the common shares. b. Assume that Inland sold 2,000 shares of the treasury stock...
Treasury Stock Coastal Corporation issued 25,000 shares of $8 par value common stock at $20 per share and 6,000 shares of $53 par value, eight percent preferred stock at $61 per share. Later, the company purchased 3,000 shares of its own common stock at $23 per share. a. Prepare the journal entries to record the share issuances and the purchase of the common shares. b. Assume that Coastal sold 2,000 shares of the treasury stock at $29 per share. Prepare...
Treasury Stock Coastal Corporation issued 25,000 shares of $6 par value common stock at $18 per share and 6,000 shares of $50 par value, eight percent preferred stock at $79 per share. Later, the company purchased 3,000 shares of its own common stock at $21 per share. a. Prepare the journal entries to record the share issuances and the purchase of the common shares. b. Assume that Coastal sold 2,000 shares of the treasury stock at $27 per share. Prepare...