Homework Answers
| Debit | Credit | ||
| Cash | 510000 | ||
| Compensation Expense | 90000 | =50000*12*15% | |
| Common Stock | 50000 | =50000*1 | |
| Paid-In Capital – Excess of Par | 550000 | =50000*(12-1) | |
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In order to encourage employee ownership of the company's $1 par common shares, Washington Distribution permits any...
In order to encourage employee ownership of the company's $1 par common shares, Washington Distribution permits...
In order to encourage employee ownership of the company's $1 par common shares, Washington Distribution permits any of its employees to buy shares directly from the company through payroll deduction. There are no brokerage fees and shares can be purchased at a 8% discount. During March, employees purchased 105,000 shares at a time when the market price of the shares on the New York Stock Exchange was $44 per share. Required: Prepare the appropriate journal entry to record the March...
In order to encourage employee ownership of the company's $1 par common shares, Washington Distribution permits...
In order to encourage employee ownership of the company's $1 par common shares, Washington Distribution permits any of its employees to buy shares directly from the company through payroll deduction. There are no brokerage fees and shares can be purchased at a 10% discount. During March, employees purchased 35,000 shares at a time when the market price of the shares on the New York Stock Exchange was $16 per share. Required: Prepare the appropriate journal entry to record the March...
n order to encourage employee ownership of the company’s $1 par common shares, Washington Distribution permits...
n order to encourage employee ownership of the company’s $1 par common shares, Washington Distribution permits any of its employees to buy shares directly from the company through payroll deduction. There are no brokerage fees and shares can be purchased at a 10% discount. During March, employees purchased 20,000 shares at a time when the market price of the shares on the New York Stock Exchange was $10 per share. Required: Prepare the appropriate journal entry to record the March...
Caltomia Surt Clothing Company Issues 1,000 shares of $1 par value common stock at $22 per...
Caltomia Surt Clothing Company Issues 1,000 shares of $1 par value common stock at $22 per share. Laler in the year, the company decides to repurchase 100 shares at a cost of $25 per share 1. Required indomation Record the purchase of treasury stock (If no entry is required for a transactionlevent, select "No journal entry required" in the first account field) Vew transaction ist Journal entry worksheet > Record the purchase of treasury stock Note: Cnter debits before credits...
On 1 January 20X1, Grey Corp. issued 378,000 no-par common shares at $4.30 per share. In...
On 1 January 20X1, Grey Corp. issued 378,000 no-par common shares at $4.30 per share. In 20X5, there were treasury stock transactions. On 15 January 20X5, the company purchased 4,500 of its own common shares at $3.30 per share to be held as treasury stock. On 1 March, 800 of the treasury shares were resold at $4.80. On 15 March, 500 shares were purchased for $170. On 31 March, 900 of the treasury shares were sold for $2.05. The remaining...
5 required entries: 1. Record the issuance of 46,000 additional shares of $1 par value common...
5 required entries:
1. Record the issuance of 46,000 additional shares of $1 par
value common stock for $43 per share.
2. Record the purchase of 4,100 shares of treasury stock for $46
per share.
3. Record the declaration of a cash dividend of $1.05 per share
to all stockholders of record on June 15.
4. Record payment of the cash dividend declared on June 1.
5. Record the resale of 2,050 shares of treasury stock purchased
on May 10...
Record the issuance of 61,000 additional shares of $1 par value common stock for $58 per...
Record the issuance of 61,000 additional shares of $1 par value
common stock for $58 per share.
Record the purchase of 5,600 shares of treasury stock for $61
per share.
Record the declaration of a cash dividend of $1.80 per share to
all stockholders of record on June 15. (Hint: Dividends are not
paid on treasury stock.)
Record payment of the cash dividend declared on June 1.
Record the resale of 2,800 shares of treasury stock purchased
on May 10...
On February 1, Rinehart Company purchased 340 shares (2% ownership of Givens Company common stock for...
On February 1, Rinehart Company purchased 340 shares (2% ownership of Givens Company common stock for $32 per share on March 20, Rinehart Company sold 6 shares of Givens stock for $1,972. Rinehart received a dividend of $3.00 per share on April 25. On June 15, Rinehart sold 136 shares of Givens stock for $5,168. On July 28, Rinehart received a dividend of $1.00 per share. Prepare the journal entries to record the transactions described above. (Credit account titles are...
California Surf Clothing Company issues 1,000 shares of $1 par value common stock at $25 per...
California Surf Clothing Company issues 1,000 shares of $1 par value common stock at $25 per share. Later in the year, the company decides to purchase 100 shares at a cost of $28 per share. Record the transaction if California Surf resells the 100 shares of treasury stock at $30 per share. (If no entry is required for a particular transaction/event, select "No Journal Entry Required in the first account field.) View transaction list Journal entry worksheet Record the sale...
help California Surf Clothing Company issues 1,000 shares of $1 par value common stock at $16...
help
California Surf Clothing Company issues 1,000 shares of $1 par value common stock at $16 per share. Later in the year, the company decides to purchase 100 shares at a cost of $19 per share. Record the purchase of treasury stock. (If no entry is required for a particular transaction/event, select "No Journal Entry Required in the first account field.) View transaction list Journal entry worksheet Record the purchase of treasury stock. Note: Enter debits before credits Transaction General...
In order to encourage employee ownership of the company's $1 par common shares, Washington Distribution permits any of its employees to buy shares directly from the company through payroll deduction. There are no brokerage fees and shares can be purchased at a 8% discount. During March, employees purchased 105,000 shares at a time when the market price of the shares on the New York Stock Exchange was $44 per share. Required: Prepare the appropriate journal entry to record the March...
In order to encourage employee ownership of the company's $1 par common shares, Washington Distribution permits any of its employees to buy shares directly from the company through payroll deduction. There are no brokerage fees and shares can be purchased at a 10% discount. During March, employees purchased 35,000 shares at a time when the market price of the shares on the New York Stock Exchange was $16 per share. Required: Prepare the appropriate journal entry to record the March...
Caltomia Surt Clothing Company Issues 1,000 shares of $1 par value common stock at $22 per share. Laler in the year, the company decides to repurchase 100 shares at a cost of $25 per share 1. Required indomation Record the purchase of treasury stock (If no entry is required for a transactionlevent, select "No journal entry required" in the first account field) Vew transaction ist Journal entry worksheet > Record the purchase of treasury stock Note: Cnter debits before credits...
On 1 January 20X1, Grey Corp. issued 378,000 no-par common shares at $4.30 per share. In 20X5, there were treasury stock transactions. On 15 January 20X5, the company purchased 4,500 of its own common shares at $3.30 per share to be held as treasury stock. On 1 March, 800 of the treasury shares were resold at $4.80. On 15 March, 500 shares were purchased for $170. On 31 March, 900 of the treasury shares were sold for $2.05. The remaining...
5 required entries:
1. Record the issuance of 46,000 additional shares of $1 par
value common stock for $43 per share.
2. Record the purchase of 4,100 shares of treasury stock for $46
per share.
3. Record the declaration of a cash dividend of $1.05 per share
to all stockholders of record on June 15.
4. Record payment of the cash dividend declared on June 1.
5. Record the resale of 2,050 shares of treasury stock purchased
on May 10...
Record the issuance of 61,000 additional shares of $1 par value
common stock for $58 per share.
Record the purchase of 5,600 shares of treasury stock for $61
per share.
Record the declaration of a cash dividend of $1.80 per share to
all stockholders of record on June 15. (Hint: Dividends are not
paid on treasury stock.)
Record payment of the cash dividend declared on June 1.
Record the resale of 2,800 shares of treasury stock purchased
on May 10...
On February 1, Rinehart Company purchased 340 shares (2% ownership of Givens Company common stock for $32 per share on March 20, Rinehart Company sold 6 shares of Givens stock for $1,972. Rinehart received a dividend of $3.00 per share on April 25. On June 15, Rinehart sold 136 shares of Givens stock for $5,168. On July 28, Rinehart received a dividend of $1.00 per share. Prepare the journal entries to record the transactions described above. (Credit account titles are...
California Surf Clothing Company issues 1,000 shares of $1 par value common stock at $25 per share. Later in the year, the company decides to purchase 100 shares at a cost of $28 per share. Record the transaction if California Surf resells the 100 shares of treasury stock at $30 per share. (If no entry is required for a particular transaction/event, select "No Journal Entry Required in the first account field.) View transaction list Journal entry worksheet Record the sale...
help
California Surf Clothing Company issues 1,000 shares of $1 par value common stock at $16 per share. Later in the year, the company decides to purchase 100 shares at a cost of $19 per share. Record the purchase of treasury stock. (If no entry is required for a particular transaction/event, select "No Journal Entry Required in the first account field.) View transaction list Journal entry worksheet Record the purchase of treasury stock. Note: Enter debits before credits Transaction General...
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