Journal entry
Account | October 19 | |
Cash (23000-8000)*12 | 180000 | |
Additional paid in capital From treasury Stock transaction | 40000 | |
Retained earnings | 80000 | |
Treasury stock (15000*20) |
300000 | |
cant figure out last part, thank you On March 15, Sweet Company acquired 23,000 shares of...
Brief Exercise 10-43 (Algorithmic) Accounting for Treasury Stock On August 19, 2019, Portland Corporation repurchases 8,900 shares of its outstanding common stock for $16 per share. On October 31, 2019, Portland sells 4,450 shares of treasury stock for $20 per share. Any additional sales of treasury stock during the year were sold for $11 per share. On December 31, 2019, Portland had no remaining treasury stock. Required: Prepare the necessary journal entries to record any transactions associated with treasury 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...
Brief Exercise 10-43 (Algorithmic) Accounting for Treasury Stock Onn August 19, 2019, Portland Corporation repurchases 1,700 shares of its outstanding common stock for $10 per share. On October 31, 2019, Portland sells 850 shares of treasury stock for $13 per share. Any additional sales of treasury stock during the year were sold for $6 per share. On December 31, 2019 Portland had no remaining treasury stock. Required: Prepare the necessary journal entries to record any transactions associated with treasury stock....
On August 19, 2019, Portland Corporation repurchases 5,500 shares of its outstanding common stock for $16 per share. On October 31, 2019, Portland sells 1,650 shares of treasury stock for $24 per share. Any additional sales of treasury stock during the year were sold for $12 per share. On December 31, 2019, Portland had no remaining treasury stock. Required: Prepare the necessary journal entries to record any transactions associated with treasury stock. 2019 Aug. 19 Oct. 31 1111 111 HII...
Exercise 11-12 Recording and reporting treasury stock transactions LO P3 On October 10, the stockholders' equity of Sherman Systems appears as follows Common stock-$10 par value, 86,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings 860,000 286,000 976,000 $2,122,000 Total stockholders equity 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 6,400 shares of its own common stock at $39 per share on October 11 b. Sold...
Accounting for Treasury Stock On February 1, 2019, Destiny Enterprise repurchases 820 shares of its outstanding common stock for $9 per share. On March 1, 2019, Destiny sells 320 shares of treasury stock for $12 per share. On May 10, 2019, Destiny sells the remaining 500 shares of its treasury stock for $6 per share. Required: Prepare the journal entries to record these transactions. 2019 Feb. 1 Treasury Stock Cash (Record purchase of treasury shares) Mar. 1 Cash Treasury Stock...
Check my work On October 10, the stockholders' equity of Sherman Systems appears as follows. Common stock-$10 par value, 77,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings 770,000 241,000 904,000 Total stockholders' equity $1.915,000 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 5,500 shares of its own common stock at $30 per share on October 11. b. Sold 1125 treasury shares on November 1 for...
Exercise 11-12 Recording and reporting treasury stock transactions LO P3 On October 10, the stockholders' equity of Sherman Systems appears as follows. Common stock-$10 par value, 82,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 820,000 266,000 944,000 $2,030,000 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 6,000 shares of its own common stock at $35 per share on October 11. b....
On October 10, the stockholders’ equity of Sherman Systems appears as follows. Common stock–$10 par value, 91,000 shares authorized, issued, and outstanding $ 910,000 Paid-in capital in excess of par value, common stock 311,000 Retained earnings 1,016,000 Total stockholders’ equity $ 2,237,000 1. Prepare journal entries to record the following transactions for Sherman Systems. Purchased 6,900 shares of its own common stock at $44 per share on October 11. Sold 1,475 treasury shares on November 1 for $50 cash per...
On October 10, the stockholders' equity of Sherman Systems appears as follows. Common stock-$10 par value, 72,000 shares authorized, issued, and outstanding $720,000 Paid-in capital in excess of par value, common stock 216,000 Retained earnings ...