ZuoTi.Pro
Question

On January 2, 2018, the first year of operations, Brunswick Corp., issued 15,000 shares of $10...

On January 2, 2018, the first year of operations, Brunswick Corp., issued 15,000 shares of $10 par value common stock for $15 per share. On July 1, 2018, Alpha Corp., 2,000 of these shares were reacquired for $18 each. On September 1, 2018 Brunswick Corp. reissued 800 shares of its treasury stock for $23 per share. No other stock transactions occurred during the rest of fiscal year 2018. Use this information to determine the dollar amount that Alpha will report on its fiscal year 2018 Balance Sheet for Paid in Capital Treasury Stock.

business   accounting   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1
Reissue of treasury stock ($23*800) $   18,400
Less: Cost of treasury stock ($18*800) $ (14,400)
Paid in Capital Treasury Stock to be reported on balance sheet $      4,000

You can reach me over comment box if you have any doubts. Please rate this answer

0 0
Add a comment
Know the answer?
Add Answer to:
On January 2, 2018, the first year of operations, Brunswick Corp., issued 15,000 shares of $10...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • Question 9 (6 points) On January 2, 2016, Alpha Corporation issued 15,000 shares of $10 par...

    Question 9 (6 points) On January 2, 2016, Alpha Corporation issued 15,000 shares of $10 par value common stock for $15 per share. On March 1, 2016, Alpha reacquired 1,000 of these shares when they were trading $20 each. Use this information to prepare the General Journal entries (without explanation) for January 2 and March 1. в I U - Format ... </> Question 10 (6 points) On January 2, 2016, Alpha Corporation issued 15,000 shares of $10 par value...

  • On January 2, 2016, Alpha Corporation issued 15,000 shares of $10 par value common stock for...

    On January 2, 2016, Alpha Corporation issued 15,000 shares of $10 par value common stock for $15 per share. On March 1, 2016, Alpha reacquired 1,000 of these shares when they were trading $20 each. September 1, 2016, when the market was soaring, Alpha reissued 500 shares of treasury stock at the going market rate of $22 per share. Use this information to prepare the General Journal entry (without explanation) for September 1. 0 of ▼ Bly Format General Journal:...

  • Question 9 (6 points) On January 2, 2016, Alpha Corporation issued 15,000 shares of $10 par...

    Question 9 (6 points) On January 2, 2016, Alpha Corporation issued 15,000 shares of $10 par value common stock for $15 per share. On March 1, 2016, Alpha reacquired 1,000 of these shares when they were trading $20 each. Use this information to prepare the General Journal entries (without explanation) for January 2 and March 1. D oo - Format - B IV - Question 10 (6 points) On January 2, 2016, Alpha Corporation issued 15,000 shares of $10 par...

  • Question 9 (6 points) On January 2, 2016, Alpha Corporation issued 15,000 shares of $10 par...

    Question 9 (6 points) On January 2, 2016, Alpha Corporation issued 15,000 shares of $10 par value common stock for $15 per share. On March 1, 2016, Alpha reacquired 1,000 of these shares when they were trading $20 each. Use this information to prepare the General Journal entries (without explanation) for January 2 and March 1. D oo - Format - B IV - Question 10 (6 points) On January 2, 2016, Alpha Corporation issued 15,000 shares of $10 par...

  • Exercise 16-16 On January 1, 2018, Vermont Maple Corp. had 2,650,000 shares of common stock issued...

    Exercise 16-16 On January 1, 2018, Vermont Maple Corp. had 2,650,000 shares of common stock issued and outstanding. During 2018, it had the following transactions that affected the common stock account. Mar. 1 Issued 250,000 shares in exchange for land Apr. 1 Acquired 200,000 shares of treasury stock July 1 Issued a 20% stock dividend Sept. 1 Reissued 240,000 shares of treasury stock (adjusted for 20% stock dividend) Oct. 1 Issued a 2-for-1 stock split Required: Determine the weighted average...

  • On January 1, 2018, Windsor Corporation was authorized to issue 400,000 shares of common stock, par...

    On January 1, 2018, Windsor Corporation was authorized to issue 400,000 shares of common stock, par value $12 per share, and 80,000 shares of 5 percent cumulative preferred stock, par value $25 per share. The preferred dividends are 2 years in arrears. Prepare Journal Entries to record the following 2018 transactions: 1. Windsor Corporation was granted a charter authorizing the issuance of 400,000 shares of common stock. 2. Issued 80,000 shares of common stock at $19 per share. 3. Issued...

  • On January 1, 2018, Wildhorse Corp. had 472,000 shares of common stock outstanding. During 2018, it...

    On January 1, 2018, Wildhorse Corp. had 472,000 shares of common stock outstanding. During 2018, it had the following transactions that affected the Common Stock account. February 1 Issued 125,000 shares March 1 Issued a 10% stock dividend May 1 Acquired 100,000 shares of treasury stock June 1 Issued a 3-for-1 stock split October 1 Reissued 63,000 shares of treasury stock Determine the weighted-average number of shares outstanding as of December 31, 2018. Assume that Wildhorse Corp. earned net income...

  • On January 2, 2016, Alpha Corporation issued 15,000 shares of $10 par value common stock for...

    On January 2, 2016, Alpha Corporation issued 15,000 shares of $10 par value common stock for $15 per share. On March 1, 2016, Alpha reacquired 1,000 of these shares when they were trading $20 each. Use this information to prepare the General Journal entries (without explanation) for January 2 and March 1.

  • A) On January 1, 2018, Cullumber Corp. had 480,000 shares of common stock outstanding. During 2018,...

    A) On January 1, 2018, Cullumber Corp. had 480,000 shares of common stock outstanding. During 2018, it had the following transactions that affected the Common Stock account. February 1 Issued 117,000 shares March 1 Issued a 10% stock dividend May 1 Acquired 101,000 shares of treasury stock June 1 Issued a 3-for-1 stock split October 1 Reissued 62,000 shares of treasury stock Determine the weighted-average number of shares outstanding as of December 31, 2018. The weighted-average number of shares outstanding...

  • Problem 10 Indiana Corp. has a zero balance in its treasury stock account on December 31,...

    Problem 10 Indiana Corp. has a zero balance in its treasury stock account on December 31, 2013. During 2014 Indiana had the following transactions regarding treasury stock: March 1: Reacquired 10,000 shares of no-par common stock at $15 per share. June 1: Reissued 4,000 shares of no-par common stock at $17 per share. September 1: Reissued 3,000 shares of no-par common stock at $14 per share. Using the cost method to account for treasury stock, prepare journal entries to record...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT