Homework Answers
A)
| T/s | Account Details and Explanation | Debit | Credit |
| A | Treasury stock (6,800 * $43) | $292,400 | |
| Cash | $292,400 | ||
| B | Cash (1,450 * 49) | $71,050 | |
| Treasury stock (1.450 * 43) | $62,350 | ||
| Paid-in capital from sale of treasury stock | $8,700 | ||
| C | Cash (5,350 * 38) | $203,300 | |
| Paid-in capital from sale of treasury stock | $18,050 | ||
| Retained Earnings | $8,700 | ||
| Treasury stock | $230,050 |
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Exercise 11-10 Recording and reporting treasury stock transactions LO P3 On October 10, the stockholders' equity of...
Exercise 11-10 Recording and reporting treasury stock transactions LO P3 On October 10, the stockholders' equity...
Exercise 11-10 Recording and reporting treasury stock transactions LO P3 On October 10, the stockholders' equity of Sherman Systems appears as follows. Common stock-$10 par value, 84,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 840,000 276,000 960,000 $2,076,000 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 6,200 shares of its own common stock at $37 per share on October 11. b....
Exercise 11-12 Recording and reporting treasury stock transactions LO P3 On October 10, the stockholders' equity...
Exercise 11-12 Recording and reporting treasury stock transactions LO P3 On October 10, the stockholders' equity of Sherman Systems appears as follows Common stock-$10 par value, 86,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings 860,000 286,000 976,000 $2,122,000 Total stockholders equity 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 6,400 shares of its own common stock at $39 per share on October 11 b. Sold...
Exercise 11-12 Recording and reporting treasury stock transactions LO P3 On October 10, the stockholders' equity...
Exercise 11-12 Recording and reporting treasury stock transactions LO P3 On October 10, the stockholders' equity of Sherman Systems appears as follows. Common stock-$10 par value, 82,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 820,000 266,000 944,000 $2,030,000 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 6,000 shares of its own common stock at $35 per share on October 11. b....
Exercise 11-12 Recording and reporting treasury stock transactions LO P3 On October 10, the stockholders' equity...
Exercise 11-12 Recording and reporting treasury stock transactions LO P3 On October 10, the stockholders' equity of Sherman Systems appears as follows. Common stock-$10 par value, 87,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 870,000 291,000 984,000 $2,145,000 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 6,500 shares of its own common stock at $40 per share on October 11. b....
On October 10, the stockholders’ equity of Sherman Systems appears as follows. Common stock–$10 par...
On October 10, the stockholders’ equity of Sherman Systems appears as follows. Common stock–$10 par value, 90,000 shares authorized, issued, and outstanding $ 900,000 Paid-in capital in excess of par value, common stock 306,000 Retained earnings 1,008,000 Total stockholders’ equity $ 2,214,000 1. Prepare journal entries to record the following transactions for Sherman Systems. Purchased 6,800 shares of its own common stock at $43 per share on October 11. Sold 1,450 treasury shares on November 1 for $49 cash...
Exercise 11-10 Recording and reporting treasury stock transactions LO P3 On October 10, the stockholders equity...
Exercise 11-10 Recording and reporting treasury stock transactions LO P3 On October 10, the stockholders equity of Sherman System appear to Con stock-110 par value, 81.00 shares on stock Pald.in capital in excess of per value Retained earnings Total stockholders equity 1. Prepare journal entries to record the following transactions for Sher Sitems 6. Purchased 5,900 shares of its own common stock of 34 per share on October b. Sold 1225 treasury shares on November 1 for $40 cash per...
Exercise 11-10 Recording and reporting treasury stock transactions LO P3 On October 10, the stockholders equity...
Exercise 11-10 Recording and reporting treasury stock transactions LO P3 On October 10, the stockholders equity of Sherman System appear to Con stock-110 par value, 81.00 shares on stock Pald.in capital in excess of per value Retained earnings Total stockholders equity 1. Prepare journal entries to record the following transactions for Sher Sitems 6. Purchased 5,900 shares of its own common stock of 34 per share on October b. Sold 1225 treasury shares on November 1 for $40 cash per...
and how to solve for this? Exercise 11-10 Recording and reporting treasury stock transactions LO P3...
and how to solve for this?
Exercise 11-10 Recording and reporting treasury stock transactions LO P3 On October 10, the stockholders' equity of Sherman Systems appears as follows. points Common stock-$10 par value, 80,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 800.000 256.000 928,000 $1,984,000 Print 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 5,800 shares of its own common stock...
On October 10, the stockholders' equity of Sherman Systems appears as follows. Common stock-$10 par value,...
On October 10, the stockholders' equity of Sherman Systems appears as follows. Common stock-$10 par value, 84,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity 840,000 276,000 960, 000 $2,076,000 1. Prepare journal entries to record the following transactions for Sherman Systems a. Purchased 6,200 shares of its own common stock at $37 per share on October 11. b. Sold 1,300 treasury shares on November 1 for $43 cash...
On October 10, the stockholders’ equity of Sherman Systems appears as follows. Common stock–$10 par...
On October 10, the stockholders’ equity of Sherman Systems appears as follows. Common stock–$10 par value, 95,000 shares authorized, issued, and outstanding $ 950,000 Paid-in capital in excess of par value, common stock 331,000 Retained earnings 1,048,000 Total stockholders’ equity $ 2,329,000 1. Prepare journal entries to record the following transactions for Sherman Systems. Purchased 7,300 shares of its own common stock at $48 per share on October 11. Sold 1,575 treasury shares on November 1 for $54 cash...
Exercise 11-10 Recording and reporting treasury stock transactions LO P3 On October 10, the stockholders' equity of Sherman Systems appears as follows. Common stock-$10 par value, 84,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 840,000 276,000 960,000 $2,076,000 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 6,200 shares of its own common stock at $37 per share on October 11. b....
Exercise 11-12 Recording and reporting treasury stock transactions LO P3 On October 10, the stockholders' equity of Sherman Systems appears as follows Common stock-$10 par value, 86,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings 860,000 286,000 976,000 $2,122,000 Total stockholders equity 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 6,400 shares of its own common stock at $39 per share on October 11 b. Sold...
Exercise 11-12 Recording and reporting treasury stock transactions LO P3 On October 10, the stockholders' equity of Sherman Systems appears as follows. Common stock-$10 par value, 82,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 820,000 266,000 944,000 $2,030,000 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 6,000 shares of its own common stock at $35 per share on October 11. b....
Exercise 11-12 Recording and reporting treasury stock transactions LO P3 On October 10, the stockholders' equity of Sherman Systems appears as follows. Common stock-$10 par value, 87,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 870,000 291,000 984,000 $2,145,000 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 6,500 shares of its own common stock at $40 per share on October 11. b....
Exercise 11-10 Recording and reporting treasury stock transactions LO P3 On October 10, the stockholders equity of Sherman System appear to Con stock-110 par value, 81.00 shares on stock Pald.in capital in excess of per value Retained earnings Total stockholders equity 1. Prepare journal entries to record the following transactions for Sher Sitems 6. Purchased 5,900 shares of its own common stock of 34 per share on October b. Sold 1225 treasury shares on November 1 for $40 cash per...
Exercise 11-10 Recording and reporting treasury stock transactions LO P3 On October 10, the stockholders equity of Sherman System appear to Con stock-110 par value, 81.00 shares on stock Pald.in capital in excess of per value Retained earnings Total stockholders equity 1. Prepare journal entries to record the following transactions for Sher Sitems 6. Purchased 5,900 shares of its own common stock of 34 per share on October b. Sold 1225 treasury shares on November 1 for $40 cash per...
and how to solve for this?
Exercise 11-10 Recording and reporting treasury stock transactions LO P3 On October 10, the stockholders' equity of Sherman Systems appears as follows. points Common stock-$10 par value, 80,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 800.000 256.000 928,000 $1,984,000 Print 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 5,800 shares of its own common stock...
On October 10, the stockholders' equity of Sherman Systems appears as follows. Common stock-$10 par value, 84,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity 840,000 276,000 960, 000 $2,076,000 1. Prepare journal entries to record the following transactions for Sherman Systems a. Purchased 6,200 shares of its own common stock at $37 per share on October 11. b. Sold 1,300 treasury shares on November 1 for $43 cash...
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