Homework Answers
![+aies Date Assets Feb. 1 Cash + Stockholders Equity +Treasury Stock $15,000 [500 shares x $300] July. 15 Cash $6,000 $4,500 [(S15,000/500) x150] + Treasury Stock +Additional PIC- Treasury $1,500 [Bal. Figure >$6,000 $4,500 $1,500] Treasury Stock Additional PIC- Treasury -$550 [Bal. Figure ->$2.750- 3,300$550] Sept. 1 Cash $2,750 $3,300[($15,000/500) x 110] NOTE: Purchase of Treasury stock would decrease the shareholders equity value whereas selling of Treasury stock would increase the shareholders equity value On Feb. 1, 500 x $30 $15,000 cash was spent to purchase treasury stock; On July. 15, 150 x $40 $6,000 cash was received from selling treasury stock; On Sep. 1, 110 x $25 $2,750 cash was received from selling treasury stock](http://img.homeworklib.com/questions/1cc2c750-f8ae-11eb-82ce-e18e89d6e67a.png?x-oss-process=image/resize,w_560)
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The following selected transactions occurred for Corner Corporation Feb. 1 Purchased s00 shares of the company's...
Required Information The following Infarmation applies to the questions dlspleyed below] The following selected transactions occurred...
Required Information The following Infarmation applies to the questions dlspleyed below] The following selected transactions occurred for Corner Corporation: Feb. 1 Purchased 578 shares of the company's on comon stock at $37 cash per share; the stock is now held in treasury July 15 Issuad i8s of the shares purchased an February 1 for $47 cash per share. Sept. 1 Issued 145 mare of the shares purchased on February 1 for $32 cash per share. 2 Prepare journal entries for...
During the year, the following selected transactions affecting stockholders' equity occurred for Navajo Corporation: a. Feb....
During the year, the following selected transactions affecting stockholders' equity occurred for Navajo Corporation: a. Feb. 1 Repurchased 360 shares of the company's own common stock at $25 cash per share. b. Jul. 15 Sold 120 of the shares purchased on February 1 for $26 cash per share. c. Sept. 1 Sold 90 of the shares purchased on February 1 for $24 cash per share. Required: 1. Prepare the journal entry required for each of the above transactions. (If no...
Recording Treasury Stock Transactions and Analyzing Their impact
During 2010, the following selected transactions affecting stockholder's equity occurred for Corner CorporationFeb 1. Purchased 400 shares of the company's own common stock at $22 cash per share.Jul 15. Issued 100 of the shares purchased on February 1 for $24 cash per share.Sept. 1 Issued 60 more of the shares purchased on February 1 for $20 cash per share.1. Show the effects of each transaction on the accounting equation.2. Give the indicated Journal entries for each of the transactions.3. What...
ALENE Hulse Company had the following transactions pertaining to stock investments Feb. 1 Purchased 530 shares...
ALENE Hulse Company had the following transactions pertaining to stock investments Feb. 1 Purchased 530 shares of Wade common stock (2%) for $6,360 cash. July 1 Received cash dividends of $2 per share on Wade common stock. Sept. 1 Sold 230 shares of Wade common stock for $3,482 Dec. 1 Received cash dividends of $2 per share on Wade common stock Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not Indent manually problem. If...
3. The following transactions occurred during 2017, par value of Common Stock is $1, par value...
3. The following transactions occurred during 2017, par value of Common Stock is $1, par value of Preferred Stock is $75. Feb 3 Apr 25 Jun 15 Oct 24 Issued 2,500 shares of preferred stock for $75 per share. Issued 50,000 shares of common stock for $15 per share. Repurchased 15,000 shares of common stock at $10.50 per share. Sold 7,500 shares of treasury stock bought on June 15 for $24 per share. Use the financial statement effects template, on...
E11-15 (Algo) Recording and Analyzing Treasury Stock Transactions LO11-3 During the year the following selected transactions...
E11-15 (Algo) Recording and Analyzing Treasury Stock Transactions LO11-3 During the year the following selected transactions affecting stockholders' equity occurred for Orlando Corporation: 1 Repurchased 350 shares of the company's own common stock at $25 cash per share. Sold 110 of the shares purchased on April 1 for $30 cash per share. Sold 100 of the shares purchased on April 1 for $20 cash per share. Apr а. b. Jun. 14 с. Sept. 1 Required: 1. Prepare journal entries for...
During the year the following selected transactions affecting stockholders' equity occurred for Orlando Corporation: a. Apr....
During the year the following selected transactions affecting
stockholders' equity occurred for Orlando Corporation:
a.
Apr.
1
Repurchased 310 shares of the company's own common stock at $24
cash per share.
b.
Jun.
14
Sold 110 of the shares purchased on April 1 for $29 cash per
share.
c.
Sept.
1
Sold 100 of the shares purchased on April 1 for $19 cash per
share.
Required:
1. Prepare journal entries for each of the
above transactions. (If no entry is...
Entries for Selected Corporate Transactions Selected transactions completed by Primo Discount Corporation during the current fiscal...
Entries for Selected Corporate Transactions Selected transactions completed by Primo Discount Corporation during the current fiscal year are as follows. Instructions: Journalize the transactions. If no entry is required, select "No entry required" from the dropdown box and leave the amount boxes blank. For a compound transaction, if an amount box does not require an entry, leave it blank. Jan. 15. Split the common stock 5 for 1 and reduced the par from $75 to $15 per share. After the...
Journalize stock investment transactions. Jelsie Company had the following transactions pertaining to stock investments. Feb. 1...
Journalize stock investment transactions. Jelsie Company had the following transactions pertaining to stock investments. Feb. 1 Purchased 1,200 shares of Sun common stock (2%) for $9,000 cash. July 1 Received cash dividends of $3.2 per share on Sun common stock. Sept. 1 Sold 400 shares of Sun common stock for $3,200. Dec. 1 Received cash dividends of $2.6 per share on Sun common stock. Instructions (a) Journalize the transactions.
Kohler Corporation reports the following components of stockholders' equity on December 31, 2017 Common stock-$15 par...
Kohler Corporation reports the following components of stockholders' equity on December 31, 2017 Common stock-$15 par value, 100,000 shares authorized, 45,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 675, eee 70, eee 370 eee $1,115, eee In year 2018, the following transactions affected its stockholders' equity accounts. Jan. 1 Purchased 5,500 shares of its own stock at $25 cash per share. Jan. 5 Directors declared a 54 per...
Required Information The following Infarmation applies to the questions dlspleyed below] The following selected transactions occurred for Corner Corporation: Feb. 1 Purchased 578 shares of the company's on comon stock at $37 cash per share; the stock is now held in treasury July 15 Issuad i8s of the shares purchased an February 1 for $47 cash per share. Sept. 1 Issued 145 mare of the shares purchased on February 1 for $32 cash per share. 2 Prepare journal entries for...
During the year, the following selected transactions affecting stockholders' equity occurred for Navajo Corporation: a. Feb. 1 Repurchased 360 shares of the company's own common stock at $25 cash per share. b. Jul. 15 Sold 120 of the shares purchased on February 1 for $26 cash per share. c. Sept. 1 Sold 90 of the shares purchased on February 1 for $24 cash per share. Required: 1. Prepare the journal entry required for each of the above transactions. (If no...
ALENE Hulse Company had the following transactions pertaining to stock investments Feb. 1 Purchased 530 shares of Wade common stock (2%) for $6,360 cash. July 1 Received cash dividends of $2 per share on Wade common stock. Sept. 1 Sold 230 shares of Wade common stock for $3,482 Dec. 1 Received cash dividends of $2 per share on Wade common stock Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not Indent manually problem. If...
3. The following transactions occurred during 2017, par value of Common Stock is $1, par value of Preferred Stock is $75. Feb 3 Apr 25 Jun 15 Oct 24 Issued 2,500 shares of preferred stock for $75 per share. Issued 50,000 shares of common stock for $15 per share. Repurchased 15,000 shares of common stock at $10.50 per share. Sold 7,500 shares of treasury stock bought on June 15 for $24 per share. Use the financial statement effects template, on...
E11-15 (Algo) Recording and Analyzing Treasury Stock Transactions LO11-3 During the year the following selected transactions affecting stockholders' equity occurred for Orlando Corporation: 1 Repurchased 350 shares of the company's own common stock at $25 cash per share. Sold 110 of the shares purchased on April 1 for $30 cash per share. Sold 100 of the shares purchased on April 1 for $20 cash per share. Apr а. b. Jun. 14 с. Sept. 1 Required: 1. Prepare journal entries for...
During the year the following selected transactions affecting
stockholders' equity occurred for Orlando Corporation:
a.
Apr.
1
Repurchased 310 shares of the company's own common stock at $24
cash per share.
b.
Jun.
14
Sold 110 of the shares purchased on April 1 for $29 cash per
share.
c.
Sept.
1
Sold 100 of the shares purchased on April 1 for $19 cash per
share.
Required:
1. Prepare journal entries for each of the
above transactions. (If no entry is...
Kohler Corporation reports the following components of stockholders' equity on December 31, 2017 Common stock-$15 par value, 100,000 shares authorized, 45,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 675, eee 70, eee 370 eee $1,115, eee In year 2018, the following transactions affected its stockholders' equity accounts. Jan. 1 Purchased 5,500 shares of its own stock at $25 cash per share. Jan. 5 Directors declared a 54 per...
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