Homework Answers
| Feb | Treasury stock | 289,800 | |
| Cash (12600*23) | 289,800 | ||
| May | Cash (4500*25) | 112,500 | |
| Treasury stock (4500*23) | 103,500 | ||
| Paid in capital in excess of par - Treasury stock | 9,000 | ||
| Nov | Cash (8100*18) | 145,800 | |
| Paid in capital in excess of par - Treasury stock | 40,500 | ||
| Treasury stock (8100*23) | 186,300 | ||
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Treasury Stock Transactions Garrett Inc. had no treasury stock at the beginning of the year. During...
Accounting for Treasury Stock On February 1, 2019, Destiny Enterprise repurchases 820 shares of its outstanding...
Accounting for Treasury Stock On February 1, 2019, Destiny Enterprise repurchases 820 shares of its outstanding common stock for $9 per share. On March 1, 2019, Destiny sells 320 shares of treasury stock for $12 per share. On May 10, 2019, Destiny sells the remaining 500 shares of its treasury stock for $6 per share. Required: Prepare the journal entries to record these transactions. 2019 Feb. 1 Treasury Stock Cash (Record purchase of treasury shares) Mar. 1 Cash Treasury Stock...
Cornerstone Exercise 10-28 (Algorithmic) Accounting for Treasury Stock On February 1, 2019, Destiny Enterprise repurchases 770...
Cornerstone Exercise 10-28 (Algorithmic) Accounting for Treasury Stock On February 1, 2019, Destiny Enterprise repurchases 770 shares of its outstanding common stock for $9 per share. On March 1, 2019, Destiny sells 320 shares of treasury stock for $12 per share. On May 10, 2019, Destiny sells the remaining 450 shares of its treasury stock for $6 per share. Required: Prepare the journal entries to record these transactions. 2019 Feb. 1 (Record purchase of treasury shares) Mar. 1 TO 1...
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...
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, 91,000 shares authorized, issued, and outstanding $ 910,000 Paid-in capital in excess of par value, common stock 311,000 Retained earnings 1,016,000 Total stockholders’ equity $ 2,237,000 1. Prepare journal entries to record the following transactions for Sherman Systems. Purchased 6,900 shares of its own common stock at $44 per share on October 11. Sold 1,475 treasury shares on November 1 for $50 cash per...
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....
Treasury Stock Transactions Biscayne Bay Water Inc. bottles and distributes spring water. On May 14 of...
Treasury Stock Transactions Biscayne Bay Water Inc. bottles and distributes spring water. On May 14 of the current year, Biscayne Bay Water Inc. reacquired 2,700 shares of its common stock at $48 per share. On September 6, Biscayne Bay Water Inc. sold 2,000 of the reacquired shares at $51 per share. The remaining 700 shares were sold at $45 per share on November 30. a. Journalize the transactions of May 14, September 6, and November 30. For a compound transaction,...
Print Item calculator eBook Show Me How Treasury Stock Transactions Mystic Lake Inc. bottles and distributes...
Print Item calculator eBook Show Me How Treasury Stock Transactions Mystic Lake Inc. bottles and distributes spring water. On July 9 of the current year, Mystic Lake reacquired 4,400 shares of its common stock at $73 per share. On September 22, Mystic Lake sold 3,100 of the reacquired shares at $82 per share. The remaining 1,300 shares were sold at $69 per share on November 23. a. Journalize the transactions of July 9, September 22, and November 23. If an...
Show Me How Calculaor Print Treasury Stock Transactions Mystic Lake Inc, bottles and distributes spring water....
Show Me How Calculaor Print Treasury Stock Transactions Mystic Lake Inc, bottles and distributes spring water. On July 9 of the current year, Mystic Lake reacquired 5,300 shares of its common stock at $55 per share. On September 22, Mystic Lake sold 3,700 of the reacquired shares at $62 per share. The remaining 1,600 shares were sold at $53 per share on November 23. a. Journalize the transactions of July 9, September 22, and November 23. If an amount box...
Assignment Instructions: Mustang Inc. completed the following stock-related transactions during 2016. Record the transactions In Mustang's...
Assignment Instructions: Mustang Inc. completed the following
stock-related transactions during 2016. Record the transactions In
Mustang's general journal on the "Worksheet" tab. (second
picture)
Assignment Instructions: Mustang Inc. completed the following stock-related transactions during 2016. Record the transactions In Mustang's general journal on the "Worksheet" tab. Upload your file in Blackboard when you are finished. Mustang declared a $30,000 cash dividend. The company currently has 2,000 shares of 896, $125 par value cumulative preferred stock outstanding. The company did not...
Cornerstone Exercise 10-28 (Algorithmic) Accounting for Treasury Stock On February 1, 2019, Destiny Enterprise repurchases 770 shares of its outstanding common stock for $9 per share. On March 1, 2019, Destiny sells 320 shares of treasury stock for $12 per share. On May 10, 2019, Destiny sells the remaining 450 shares of its treasury stock for $6 per share. Required: Prepare the journal entries to record these transactions. 2019 Feb. 1 (Record purchase of treasury shares) Mar. 1 TO 1...
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...
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...
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....
Print Item calculator eBook Show Me How Treasury Stock Transactions Mystic Lake Inc. bottles and distributes spring water. On July 9 of the current year, Mystic Lake reacquired 4,400 shares of its common stock at $73 per share. On September 22, Mystic Lake sold 3,100 of the reacquired shares at $82 per share. The remaining 1,300 shares were sold at $69 per share on November 23. a. Journalize the transactions of July 9, September 22, and November 23. If an...
Show Me How Calculaor Print Treasury Stock Transactions Mystic Lake Inc, bottles and distributes spring water. On July 9 of the current year, Mystic Lake reacquired 5,300 shares of its common stock at $55 per share. On September 22, Mystic Lake sold 3,700 of the reacquired shares at $62 per share. The remaining 1,600 shares were sold at $53 per share on November 23. a. Journalize the transactions of July 9, September 22, and November 23. If an amount box...
Assignment Instructions: Mustang Inc. completed the following
stock-related transactions during 2016. Record the transactions In
Mustang's general journal on the "Worksheet" tab. (second
picture)
Assignment Instructions: Mustang Inc. completed the following stock-related transactions during 2016. Record the transactions In Mustang's general journal on the "Worksheet" tab. Upload your file in Blackboard when you are finished. Mustang declared a $30,000 cash dividend. The company currently has 2,000 shares of 896, $125 par value cumulative preferred stock outstanding. The company did not...
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