Homework Answers
| Total assets | Total Liabilities | Total stockholders equity | Net income | |
|---|---|---|---|---|
| Sold 5,500 shares | increase by 275,000 | Increase by 275,000 | ||
| Sold 10,500 shares | increase by 388,500 | Increase by 388,500 | ||
| Purchased 20,500 shares of treasury stock | decrease by 922,500 | Decrease by 922,500 |
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Trans Union Corporation issued 5,500 shares for $50 per share in the current year, and it...
3. The Jennings Group issued 3 million shares of $10 par value stock for $42 a share on Jan...
3. The Jennings Group issued 3 million shares of $10 par value stock for $42 a share on January 1, 2006. The Jennings Group issued an additional 7 million shares of $10 par value stock for $44 a share on March 7, 2006. The Jennings Group reacquired 1 million of its shares at $50 per share as treasury stock on March 1, 2006. The Jenning Group reacquired and retired 4 million of its shares at $47 per share on April...
Coastal Corporation issued 25,000 shares of $11 par value common stock at $22 per share and...
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...
On May 27, Mama Mia Inc. reacquired 6,700 shares of its common stock at $19 per share. On August ...
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On May 27, Mama Mia Inc. reacquired 6,700 shares of its common stock at $19 per share. On August 3, Mama Mia sold 2,800 of the reacquired shares at $22 per share November 14, Mama Mia sold the remaining shares at $18 per share. Journalize the transactions of May 27, August 3, and November 14. For a compound transaction, if an amount box does not require an...
3. The Jennings Group issued 3 million shares of $10 par value stock for $42 a...
3. The Jennings Group issued 3 million shares of $10 par value stock for $42 a share on January 1, 2006. The Jennings Group issued an additional 7 million shares of $10 par value stock for $44 a share on March 7, 2006. The Jennings Group reacquired 1 million of its shares at $50 per share as treasury stock on March 1, 2006. The Jenning Group reacquired and retired 4 million of its shares at $47 per share on April...
Treasury Stock Coastal Corporation issued 25,000 shares of $8 par value common stock at $20 per...
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...
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...
Emma, Inc. reacquired 168,882 of its shares at $23 per share as treasury stock. Last year,...
Emma, Inc. reacquired 168,882 of its shares at $23 per share as treasury stock. Last year, for the first time, Emma sold 38,774 treasury shares at $27 per share. What is the credit to PIC - Share repurchase for Emma's 1st sale?
Common stock (par $1; no changes during the current year). Shares authorized 10,000,000. Shares issued, ?...
Common stock (par $1; no changes during the current year). Shares authorized 10,000,000. Shares issued, ? issue price $10 per share. Shares held as treasury stock, 53,000 shares, cost $11 per share. Net income for the current year, $1,672,100 Common Stock account, $780,000. Dividends declared and paid during the current year, $1 per share. Retained Earnings balance, beginning of year, $36,700,000. Required: Complete the following: (Round per share to 2 decimal places.) 780,000 2 Shares issued Shares outstanding The balance...
On January 1, Vermont Corporation had 36,200 shares of $12 par value common stock issued and...
On January 1, Vermont Corporation had 36,200 shares of $12 par value common stock issued and outstanding. All 36,200 shares had been issued in a prior period at $20 per share. On February 1, Vermont purchased 1,100 shares of treasury stock for $25 per share and later sold the treasury shares for $22 per share on March 1. The journal entry to record the purchase of the treasury shares on February 1 would include a a.credit to Treasury Stock for...
Agee Storage issued 45 million shares of its $1 par common stock at $22 per share...
Agee Storage issued 45 million shares of its $1 par common stock at $22 per share several years ago. Last year, for the first time, Agee reacquired 1 million shares at $20 per share. If Agee now retires 1 million shares at $25 per share. By what amount will Agee's total paid-in capital decline? (Enter your answer in millions (i.e., 10,000,000 should be entered as 10).) Total paid-in capital will decline by million
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answer all. Numbers and the blue arrows
On May 27, Mama Mia Inc. reacquired 6,700 shares of its common stock at $19 per share. On August 3, Mama Mia sold 2,800 of the reacquired shares at $22 per share November 14, Mama Mia sold the remaining shares at $18 per share. Journalize the transactions of May 27, August 3, and November 14. For a compound transaction, if an amount box does not require an...
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...
Common stock (par $1; no changes during the current year). Shares authorized 10,000,000. Shares issued, ? issue price $10 per share. Shares held as treasury stock, 53,000 shares, cost $11 per share. Net income for the current year, $1,672,100 Common Stock account, $780,000. Dividends declared and paid during the current year, $1 per share. Retained Earnings balance, beginning of year, $36,700,000. Required: Complete the following: (Round per share to 2 decimal places.) 780,000 2 Shares issued Shares outstanding The balance...
Agee Storage issued 45 million shares of its $1 par common stock at $22 per share several years ago. Last year, for the first time, Agee reacquired 1 million shares at $20 per share. If Agee now retires 1 million shares at $25 per share. By what amount will Agee's total paid-in capital decline? (Enter your answer in millions (i.e., 10,000,000 should be entered as 10).) Total paid-in capital will decline by million
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