The shareholders' equity section of the balance sheet of White, Inc. included the following accounts at...
The shareholders' equity section of the balance sheet of White, Inc. included the following accounts at December 31, 2019: Shareholders’ Equity $ in millions Common stock, 200,000 shares at $1 par, $ 200,000 Paid-in capital – excess of par 1,200,000 Paid-in capital – share repurchase 30,000 Retained earnings 205,000 REQUIRED: a. Prepare the entries below for both the purchase and subsequent resale of shares, treated as retired stock. • On March 6, 2020, White reacquired 40,000 shares of stock at $9 per share. • On September 3, 2020, the corporation sold 10,000 shares at $11 per share. • On October 12, 2020, the corporation sold 20,000 shares at $7 per share. b. Prepare the entries for both the purchase and subsequent resale of shares, treated as treasury stock. • On March 6, 2020, White reacquired 40,000 shares of stock at $9 per share. • On September 3, 2020, the corporation sold 10,000 shares at $11 per share. • On October 12, 2020, the corporation sold 20,000 shares at $7 per share.
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The shareholders' equity section of the balance sheet of White,
Inc. included the following accounts at...
The shareholders' equity section of the balance sheet of TNL Systems Inc, included the following accounts...
The shareholders' equity section of the balance sheet of TNL Systems Inc, included the following accounts at December 31, 2020: Shareholders' Equity Common stock, 290 million shares at $l par Paid-in capital-excess of par Paid-in capital-share repurchase Retained earnings ($ in millions) $ 290 2,030 1,900 Required: 1. During 2021, TNL Systems reacquired shares of its common stock and later sold shares in two separate transactions. Prepare the entries for both the purchase and subsequent resale of the shares assuming...
The shareholders’ equity section of the balance sheet of TNL Systems Inc. included the following accounts...
The shareholders’ equity section of the balance sheet of TNL Systems Inc. included the following accounts at December 31, 2020: Shareholders' Equity ($ in millions) Common stock, 270 million shares at $1 par $ 270 Paid-in capital—excess of par 1,890 Paid-in capital—share repurchase 2 Retained earnings 1,700 Required: 1. During 2021, TNL Systems reacquired shares of its common stock and later sold shares in two separate transactions. Prepare the entries for both the purchase and subsequent resale of the shares...
The shareholders' equity section of the balance sheet of TNL Systems Inc. included the following accounts...
The shareholders' equity section of the balance sheet of TNL Systems Inc. included the following accounts at December 31,2017: (in millions) $ 280 1,680 Shareholders' Equity Common stock, 280 million shares at $1 par Paid-in capital-excess of par Paid-in capital-share repurchase Retained earnings 1,800 Required During 2018, TNL Systems reacquired shares of its common stock and later sold shares in two separate transactions. Prepare the entries for both the purchase and subsequent resale of the shares assuming the shares are...
The shareholders' equity section of the balance sheet of TNL Systems Inc. included the following accounts...
The shareholders' equity section of the balance sheet of TNL Systems Inc. included the following accounts at December 31, 2020: Shareholders' Equity Common stock, 270 million shares at $1 par Paid-in capital-excess of par Paid in capital-share repurchase Retained earnings (s in millions) $ 270 1,890 2 1,700 Required: 1. During 2021, TNL Systems reacquired shares of its common stock and later sold shares in two separate transactions. Prepare the entries for both the purchase and subsequent resale of the...
question 18 The shareholders' equity section of the balance sheet of TNL Systems Inc. included the...
question 18
The shareholders' equity section of the balance sheet of TNL Systems Inc. included the following accounts at December 31, 2020. Shareholders' Equity Common stock, 240 million shares at $1 par Paid-in capital excess of par Paid-in capital-share repurchase Retained earnings ($ in millions) $ 240 1,689 1 1,100 Required: 1. During 2021. TNL Systems reacquired shares of its common stock and later sold shares in two separate transactions. Prepare the entries for both the purchase and subsequent resale...
National Supply's shareholders' equity included the following accounts at December 31, 2017: Shareholders' Equity ($ in...
National Supply's shareholders' equity included the following accounts at December 31, 2017: Shareholders' Equity ($ in millions) Common stock, 6 million shares at $1 par $ 6,000,000 Paid-in capital—excess of par 30,000,000 Retained earnings 86,500,000 Required: 1. National Supply reacquired shares of its common stock in two separate transactions and later sold shares. Prepare the entries for each of the transactions under each of two separate assumptions: the shares are (a) retired and (b) accounted for as treasury stock. February...
Problem 18-2 Share buyback-comparison of retirement and treasury stock treatment [LO18-5] The shareholders’ equity section of...
Problem 18-2 Share buyback-comparison of retirement and treasury stock treatment [LO18-5] The shareholders’ equity section of the balance sheet of TNL Systems Inc. included the following accounts at December 31, 2017: Shareholders' Equity ($ in millions) Common stock, 210 million shares at $1 par $ 210 Paid-in capital—excess of par 1,260 Paid-in capital—share repurchase 1 Retained earnings 1,200 Required: 1. During 2018, TNL Systems reacquired shares of its common stock and later sold shares in two separate transactions. Prepare the...
National Supply’s shareholders’ equity included the following accounts at December 31, 2017: Shareholders' Equity ($ in...
National Supply’s shareholders’ equity included the following accounts at December 31, 2017: Shareholders' Equity ($ in millions) Common stock, 8 million shares at $1 par $ 8,000,000 Paid-in capital—excess of par 64,000,000 Retained earnings 94,000,000 Required: 1. National Supply reacquired shares of its common stock in two separate transactions and later sold shares. Prepare the entries for each of the transactions under each of two separate assumptions: the shares are (a) retired and (b) accounted for as treasury stock. February...
National Supply’s shareholders’ equity included the following accounts at December 31, 2020: Shareholders' Equity Common stock,...
National Supply’s shareholders’ equity included the following accounts at December 31, 2020: Shareholders' Equity Common stock, 9 million shares at $1 par $ 9,000,000 Paid-in capital—excess of par 81,000,000 Retained earnings 80,500,000 Required: 1. National Supply reacquired shares of its common stock in two separate transactions and later sold shares. Prepare the entries for each of the transactions under each of two separate assumptions: the shares are (a) retired and (b) accounted for as treasury stock. February 15, 2021 Reacquired...
National Supply’s shareholders’ equity included the following accounts at December 31, 2020: Shareholders' Equity Common stock,...
National Supply’s shareholders’ equity included the following accounts at December 31, 2020: Shareholders' Equity Common stock, 9 million shares at $1 par $ 9,000,000 Paid-in capital—excess of par 81,000,000 Retained earnings 80,500,000 Required: 1. National Supply reacquired shares of its common stock in two separate transactions and later sold shares. Prepare the entries for each of the transactions under each of two separate assumptions: the shares are (a) retired and (b) accounted for as treasury stock. February 15, 2021 Reacquired...
The shareholders' equity section of the balance sheet of TNL Systems Inc, included the following accounts at December 31, 2020: Shareholders' Equity Common stock, 290 million shares at $l par Paid-in capital-excess of par Paid-in capital-share repurchase Retained earnings ($ in millions) $ 290 2,030 1,900 Required: 1. During 2021, TNL Systems reacquired shares of its common stock and later sold shares in two separate transactions. Prepare the entries for both the purchase and subsequent resale of the shares assuming...
The shareholders' equity section of the balance sheet of TNL Systems Inc. included the following accounts at December 31,2017: (in millions) $ 280 1,680 Shareholders' Equity Common stock, 280 million shares at $1 par Paid-in capital-excess of par Paid-in capital-share repurchase Retained earnings 1,800 Required During 2018, TNL Systems reacquired shares of its common stock and later sold shares in two separate transactions. Prepare the entries for both the purchase and subsequent resale of the shares assuming the shares are...
The shareholders' equity section of the balance sheet of TNL Systems Inc. included the following accounts at December 31, 2020: Shareholders' Equity Common stock, 270 million shares at $1 par Paid-in capital-excess of par Paid in capital-share repurchase Retained earnings (s in millions) $ 270 1,890 2 1,700 Required: 1. During 2021, TNL Systems reacquired shares of its common stock and later sold shares in two separate transactions. Prepare the entries for both the purchase and subsequent resale of the...
question 18
The shareholders' equity section of the balance sheet of TNL Systems Inc. included the following accounts at December 31, 2020. Shareholders' Equity Common stock, 240 million shares at $1 par Paid-in capital excess of par Paid-in capital-share repurchase Retained earnings ($ in millions) $ 240 1,689 1 1,100 Required: 1. During 2021. TNL Systems reacquired shares of its common stock and later sold shares in two separate transactions. Prepare the entries for both the purchase and subsequent resale...
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