Homework Answers
Solution:
| Date | General Journal | Debit | Credit |
| 3-May | Treasury Stock | 30,000 | |
| Cash | 30,000 | ||
| 4-Nov | Cash | 13,200 | |
| Treasury Stock ($30000/3000*1200) | 12,000 | ||
| Paid in Capital from Treasury stock | 1,200 |
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On May 3, Zibal Corporation purchased 3.000 shares of its own stock for $30,000 cash On...
On May 3, Zirbal Corporation purchased 8,500 shares of its own stock for $93,500 cash. On...
On May 3, Zirbal Corporation purchased 8,500 shares of its own stock for $93,500 cash. On November 4, Zirbal reissued 1,750 shares of this treasury stock for $21,000. Prepare the May 3 and November 4 journal entries to record Zirbal's purchase and reissuance of treasury stock. View transaction list Journal entry worksheet Record the purchase of 8,500 shares of its own stock for $93,500 cash. Note: Enter debits before credits. General Journal Credit Date May 03 Debit 93,500 Treasury stock...
On May 3, Zirbal Corporation purchased 5,500 shares of its own stock for $55,000 cash. On...
On May 3, Zirbal Corporation purchased 5,500 shares of its own stock for $55,000 cash. On November 4, Zirbal reissued 900 shares of this treasury stock for $9.900. Prepare the May 3 and November 4 journal entries to record Zirbal's purchase and reissuance of treasury stock Journal entry worksheet Print References Record the purchase of 5,500 shares of its own stock for $55,000 cash. Note: Enter deres before credits Date General Journal Debit Credit May 03 Journal entry worksheet Record...
QS 13-15 Purchase and sale of treasury stock LO P3 On May 3, Zirbal Corporation purchased...
QS 13-15 Purchase and sale of treasury stock LO P3 On May 3, Zirbal Corporation purchased 6,500 shares of its own stock for $78,000 cash. On November 4, Zirbal reissued 1,000 shares of this treasury stock for $13,000. Prepare the May 3 and November 4 journal entries to record Zirbal's purchase and reissuance of treasury stock. View transaction list Journal entry worksheet Record the purchase of 6,500 shares of its own stock for $78,000 cash. Note: Enter debits before credits....
Exercise 11-12A Treasury stock transactions LO 11-5 Elroy Corporation repurchased 1,800 shares of its own stock...
Exercise 11-12A Treasury stock transactions LO 11-5 Elroy Corporation repurchased 1,800 shares of its own stock for $30 per share. The stock has a par of $10 per share. A month later, Elroy resold 450 shares of the treasury stock for $38 per share. Required a. Record the two events in general journal format. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet Record the...
need help answering question, please answer all questions... thanks On October 10, the stockholders' equity of...
need help answering question, please answer all questions...
thanks
On October 10, the stockholders' equity of Sherman Systems appears as follows. Common stock-$10 par value, 92,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 920,000 316,000 1,024,000 $2,260,000 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 7,000 shares of its own common stock at $45 per share on October 11. b. Sold...
View transaction list Journal entry worksheet 2 5 6 1 3 Record the resell 90,000 shares...
View transaction list Journal entry worksheet 2 5 6 1 3 Record the resell 90,000 shares of treasury stock for $42 per share. Note: Enter debits before credits. Credit Date General Journal Debit August 15, 2021 Record entry View general journal 4 View transaction list Journal entry worksheet 1 2 3 4 5 Record the declaration of a cash dividend on its common stock of $1.20 per share and a $456,000 (4% of par value) cash dividend on its preferred...
Rodriguez Corporation issues 10,000 shares of its common stock for $159,600 cash on February 20. Prepare...
Rodriguez Corporation issues 10,000 shares of its common stock for $159,600 cash on February 20. Prepare journal entries to record this event under each of the following separate situations. 1. The stock has a $14 par value. 2. The stock has neither par nor stated value. 3. The stock has a $7 stated value. Journal entry worksheet A B C Record the issue of 10,000 shares of $14 par value common stock for $159,600 cash. Note: Enter debits before credits....
Kohler Corporation reports the following components of stockholders’ equity at December 31, 2018. Common stock—$25 par...
Kohler Corporation reports the following components of
stockholders’ equity at December 31, 2018.
Common stock—$25 par value, 100,000 shares authorized,
60,000 shares issued and outstanding
$
1,500,000
Paid-in capital in excess of par value, common stock
80,000
Retained earnings
370,000
Total stockholders' equity
$
1,950,000
During 2019, the following transactions affected its stockholders’
equity accounts.
Jan.
2
Purchased 4,500 shares of its own stock at $20 cash per
share.
Jan.
5
Directors declared a $6 per share cash dividend payable...
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...
Exercise 10-9A Record common stock, treasury stock, and cash dividends (LO10-2, 10-4, 10-5) Power Drive Corporation...
Exercise 10-9A Record common stock, treasury stock, and cash dividends (LO10-2, 10-4, 10-5) Power Drive Corporation designs and produces a line of golf equipment and golf apparel. Power Drive has 100,000 shares of common stock outstanding as of the beginning of 2021. Power Drive has the following transactions affecting stockholders' equity in 2021. March 1 Issues 59,000 additional shares of $1 par value common stock for $56 per share. May 10 Purchases 5,400 shares of treasury stock for $59 per...
On May 3, Zirbal Corporation purchased 8,500 shares of its own stock for $93,500 cash. On November 4, Zirbal reissued 1,750 shares of this treasury stock for $21,000. Prepare the May 3 and November 4 journal entries to record Zirbal's purchase and reissuance of treasury stock. View transaction list Journal entry worksheet Record the purchase of 8,500 shares of its own stock for $93,500 cash. Note: Enter debits before credits. General Journal Credit Date May 03 Debit 93,500 Treasury stock...
On May 3, Zirbal Corporation purchased 5,500 shares of its own stock for $55,000 cash. On November 4, Zirbal reissued 900 shares of this treasury stock for $9.900. Prepare the May 3 and November 4 journal entries to record Zirbal's purchase and reissuance of treasury stock Journal entry worksheet Print References Record the purchase of 5,500 shares of its own stock for $55,000 cash. Note: Enter deres before credits Date General Journal Debit Credit May 03 Journal entry worksheet Record...
QS 13-15 Purchase and sale of treasury stock LO P3 On May 3, Zirbal Corporation purchased 6,500 shares of its own stock for $78,000 cash. On November 4, Zirbal reissued 1,000 shares of this treasury stock for $13,000. Prepare the May 3 and November 4 journal entries to record Zirbal's purchase and reissuance of treasury stock. View transaction list Journal entry worksheet Record the purchase of 6,500 shares of its own stock for $78,000 cash. Note: Enter debits before credits....
Exercise 11-12A Treasury stock transactions LO 11-5 Elroy Corporation repurchased 1,800 shares of its own stock for $30 per share. The stock has a par of $10 per share. A month later, Elroy resold 450 shares of the treasury stock for $38 per share. Required a. Record the two events in general journal format. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet Record the...
need help answering question, please answer all questions...
thanks
On October 10, the stockholders' equity of Sherman Systems appears as follows. Common stock-$10 par value, 92,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 920,000 316,000 1,024,000 $2,260,000 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 7,000 shares of its own common stock at $45 per share on October 11. b. Sold...
View transaction list Journal entry worksheet 2 5 6 1 3 Record the resell 90,000 shares of treasury stock for $42 per share. Note: Enter debits before credits. Credit Date General Journal Debit August 15, 2021 Record entry View general journal 4 View transaction list Journal entry worksheet 1 2 3 4 5 Record the declaration of a cash dividend on its common stock of $1.20 per share and a $456,000 (4% of par value) cash dividend on its preferred...
Rodriguez Corporation issues 10,000 shares of its common stock for $159,600 cash on February 20. Prepare journal entries to record this event under each of the following separate situations. 1. The stock has a $14 par value. 2. The stock has neither par nor stated value. 3. The stock has a $7 stated value. Journal entry worksheet A B C Record the issue of 10,000 shares of $14 par value common stock for $159,600 cash. Note: Enter debits before credits....
Kohler Corporation reports the following components of
stockholders’ equity at December 31, 2018.
Common stock—$25 par value, 100,000 shares authorized,
60,000 shares issued and outstanding
$
1,500,000
Paid-in capital in excess of par value, common stock
80,000
Retained earnings
370,000
Total stockholders' equity
$
1,950,000
During 2019, the following transactions affected its stockholders’
equity accounts.
Jan.
2
Purchased 4,500 shares of its own stock at $20 cash per
share.
Jan.
5
Directors declared a $6 per share cash dividend payable...
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...
Exercise 10-9A Record common stock, treasury stock, and cash dividends (LO10-2, 10-4, 10-5) Power Drive Corporation designs and produces a line of golf equipment and golf apparel. Power Drive has 100,000 shares of common stock outstanding as of the beginning of 2021. Power Drive has the following transactions affecting stockholders' equity in 2021. March 1 Issues 59,000 additional shares of $1 par value common stock for $56 per share. May 10 Purchases 5,400 shares of treasury stock for $59 per...
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