Homework Answers
Answer)
My answer is Treasury stock for $568000.
Under cost method, the treasury stock account will be credited and cash will be debited for the amount actually paid for acquiring the treasury stock regardless what is par value. In this case, the cash paid for acquiring treasury stock:
28400 shares×$20=$568000
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Multiple choice quest On September 1, 2017, Marigold Corp. reacquired 28400 shares of its $15 par...
Marigold Company had the following stockholders' equity as of January 1, 2017. Common stock, $5 par...
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Marigold Corp.'s balance sheet reported the following: Capital stock outstanding, 5,000 shares, par $40 per share...
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Marigold Corp. was organized on January 1, 2022. It is authorized to issue 22,500 shares of...
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On January 5, 2017, Marigold Corporation received a charter granting the right to issue 5,200 shares...
On January 5, 2017, Marigold Corporation received a charter
granting the right to issue 5,200 shares of $100 par value, 8%
cumulative and nonparticipating preferred stock, and 47,700 shares
of $10 par value common stock. It then completed these
transactions.
Jan. 11
Issued 21,200 shares of common stock at $16 per share.
Feb. 1
Issued to Sanchez Corp. 4,200 shares of preferred stock for the
following assets: equipment with a fair value of $54,900; a factory
building with a fair...
The stockholders’ equity accounts of Marigold Corp. on January 1, 2017, were as follows. Preferred Stock...
The stockholders’ equity accounts of Marigold Corp. on January
1, 2017, were as follows.
Preferred Stock (8%, $100 par noncumulative, 4,700 shares
authorized)
$282,000
Common Stock ($4 stated value, 325,000 shares authorized)
1,083,333
Paid-in Capital in Excess of Par Value—Preferred Stock
14,100
Paid-in Capital in Excess of Stated Value—Common Stock
520,000
Retained Earnings
701,000
Treasury Stock (4,700 common shares)
37,600
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events pertaining to its stockholders’ equity.
Feb.
1
Issued 5,150 shares...
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On December 2, Coley Corp. acquired 1,000 shares of its $4 par value common stock for $25 each. 1000 shar On December 20, Coley Corp. resold 600 shares for $12 each. Which of the following is correct regarding the journal entry for the resold shares? Coley Corp. resa Multiple Choice Credit Treasury Stock $7,200 Credit Additional Paid-in Capital $4,800 O Credit Treasury Stock $15,000
On January 5, 2017, Marigold Corporation received a charter
granting the right to issue 5,200 shares of $100 par value, 8%
cumulative and nonparticipating preferred stock, and 47,700 shares
of $10 par value common stock. It then completed these
transactions.
Jan. 11
Issued 21,200 shares of common stock at $16 per share.
Feb. 1
Issued to Sanchez Corp. 4,200 shares of preferred stock for the
following assets: equipment with a fair value of $54,900; a factory
building with a fair...
The stockholders’ equity accounts of Marigold Corp. on January
1, 2017, were as follows.
Preferred Stock (8%, $100 par noncumulative, 4,700 shares
authorized)
$282,000
Common Stock ($4 stated value, 325,000 shares authorized)
1,083,333
Paid-in Capital in Excess of Par Value—Preferred Stock
14,100
Paid-in Capital in Excess of Stated Value—Common Stock
520,000
Retained Earnings
701,000
Treasury Stock (4,700 common shares)
37,600
During 2017, the corporation had the following transactions and
events pertaining to its stockholders’ equity.
Feb.
1
Issued 5,150 shares...
On September 1, Ziegler Corporation had 75,000 shares of $5 par value common stock, and $225,000 of retained earnings. On that date, when the market price of the stock is $15 per share, the corporation issues a 2-for-1 stock split. The general journal entry to record this transaction is: Multiple Choice Debit Retained Earnings $1125,000 credit Common Stock $425,000 o Debit Retained Earnings $375,000 credit Common Stock $375,000 o No entry is made for this transaction Debit Retained Earnings $125.000...
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