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problem 3: Share buybacks (12 pts) The shareholders' equity section of the balance sheet of Genesis...
Problem 3: Share buybacks (12 pts) The shareholders' equity section of the balance sheet of Genesis...
Problem 3: Share buybacks (12 pts) The shareholders' equity section of the balance sheet of Genesis Inc. at 1210 Shareholders' Equity Common stock, 200 million shares at $1 par Paid-in capital-excess of par Paid-in capital-share repurchase Retained Earnings On March 11, 2019. Genesis purchased back 3 million shares at $14 per share In millions $200 1,800 13 60,000 On July 29, 2019. Genesis sold 1 million shares at $15 per share. Required: a. Prepare journal entries to record the above...
The shareholders' equity section of the balance sheet of TNL Systems Inc, included the following accounts...
The shareholders' equity section of the balance sheet of TNL Systems Inc, included the following accounts at December 31, 2020: Shareholders' Equity Common stock, 290 million shares at $l par Paid-in capital-excess of par Paid-in capital-share repurchase Retained earnings ($ in millions) $ 290 2,030 1,900 Required: 1. During 2021, TNL Systems reacquired shares of its common stock and later sold shares in two separate transactions. Prepare the entries for both the purchase and subsequent resale of the shares assuming...
question 18 The shareholders' equity section of the balance sheet of TNL Systems Inc. included the...
question 18
The shareholders' equity section of the balance sheet of TNL Systems Inc. included the following accounts at December 31, 2020. Shareholders' Equity Common stock, 240 million shares at $1 par Paid-in capital excess of par Paid-in capital-share repurchase Retained earnings ($ in millions) $ 240 1,689 1 1,100 Required: 1. During 2021. TNL Systems reacquired shares of its common stock and later sold shares in two separate transactions. Prepare the entries for both the purchase and subsequent resale...
The shareholders' equity section of the balance sheet of TNL Systems Inc. included the following accounts...
The shareholders' equity section of the balance sheet of TNL Systems Inc. included the following accounts at December 31, 2020: Shareholders' Equity Common stock, 270 million shares at $1 par Paid-in capital-excess of par Paid in capital-share repurchase Retained earnings (s in millions) $ 270 1,890 2 1,700 Required: 1. During 2021, TNL Systems reacquired shares of its common stock and later sold shares in two separate transactions. Prepare the entries for both the purchase and subsequent resale of the...
The shareholders’ equity section of the balance sheet of TNL Systems Inc. included the following accounts...
The shareholders’ equity section of the balance sheet of TNL Systems Inc. included the following accounts at December 31, 2020: Shareholders' Equity ($ in millions) Common stock, 270 million shares at $1 par $ 270 Paid-in capital—excess of par 1,890 Paid-in capital—share repurchase 2 Retained earnings 1,700 Required: 1. During 2021, TNL Systems reacquired shares of its common stock and later sold shares in two separate transactions. Prepare the entries for both the purchase and subsequent resale of the shares...
Repurchase of shares: the shareholders' equity section of Pretty Ornament, Inc's, Balance sheet as if January...
Repurchase of shares:
the shareholders' equity section of Pretty Ornament, Inc's,
Balance sheet as if January 1st, 2019 was as follows:
Share capital:
Common shares. no par-value
120,000 shares authorised
50,000 shares issued.............$ 750,000
Retained earnings..................312,000
Total shareholders' equity...... $1,062,000
calucukate the average price of common shares before you
prepare the journal entries
REPURCHASE OF SHARES The shareholders' equity section of Pretty Ornament, Inc.'s, Balance sheet as of January 19, 2019 was as follows: Share capital: Common shares, no-par value,...
Problem 18-2 Share buyback-comparison of retirement and treasury stock treatment [LO18-5] The shareholders’ equity section of...
Problem 18-2 Share buyback-comparison of retirement and treasury stock treatment [LO18-5] The shareholders’ equity section of the balance sheet of TNL Systems Inc. included the following accounts at December 31, 2017: Shareholders' Equity ($ in millions) Common stock, 210 million shares at $1 par $ 210 Paid-in capital—excess of par 1,260 Paid-in capital—share repurchase 1 Retained earnings 1,200 Required: 1. During 2018, TNL Systems reacquired shares of its common stock and later sold shares in two separate transactions. Prepare the...
The shareholders' equity section of the balance sheet of TNL Systems Inc. included the following accounts...
The shareholders' equity section of the balance sheet of TNL Systems Inc. included the following accounts at December 31,2017: (in millions) $ 280 1,680 Shareholders' Equity Common stock, 280 million shares at $1 par Paid-in capital-excess of par Paid-in capital-share repurchase Retained earnings 1,800 Required During 2018, TNL Systems reacquired shares of its common stock and later sold shares in two separate transactions. Prepare the entries for both the purchase and subsequent resale of the shares assuming the shares are...
Accounting for Share Transactions The shareholders' equity section of the consolidated balance sheet of Wilson Industries...
Accounting for Share Transactions The shareholders' equity section of the consolidated balance sheet of Wilson Industries appeared as follows at the beginning of the year: Shareholders' Equity Class A common stock, $0.02 par value; 20,000,000 shares authorized; 6,100,000 shares issued $122,000 Additional paid-in-capital 236,254,000 Retained earnings 28,540,000 Currency translation adjustment (4,824,000) Total equity $260,092,000 The following events occurred sequentially during the year: A 2-for-1 forward stock split was executed. A ten percent stock dividend was distributed when the Wilson share...
TB Problem 18-155 (Algo) Cal Cookie Company (CCC) has 100 million shares of $1 par common...
TB Problem 18-155 (Algo) Cal Cookie Company (CCC) has 100 million shares of $1 par common stock authorized. The transactions below caused changes in CCC's outstanding shares January 4, 2021: Repurchased and retired 2.40 million shares at $7.60 per share. June 25, 2021: Repurchased and retired 3.40 million shares at $3.40 per share. Prior to the transactions, CCC's shareholders' equity included the following: Common stock, 79.60 million shares at $1 par Paid in capital-excess of par Retained earnings $ 79,600,000...
Problem 3: Share buybacks (12 pts) The shareholders' equity section of the balance sheet of Genesis Inc. at 1210 Shareholders' Equity Common stock, 200 million shares at $1 par Paid-in capital-excess of par Paid-in capital-share repurchase Retained Earnings On March 11, 2019. Genesis purchased back 3 million shares at $14 per share In millions $200 1,800 13 60,000 On July 29, 2019. Genesis sold 1 million shares at $15 per share. Required: a. Prepare journal entries to record the above...
The shareholders' equity section of the balance sheet of TNL Systems Inc, included the following accounts at December 31, 2020: Shareholders' Equity Common stock, 290 million shares at $l par Paid-in capital-excess of par Paid-in capital-share repurchase Retained earnings ($ in millions) $ 290 2,030 1,900 Required: 1. During 2021, TNL Systems reacquired shares of its common stock and later sold shares in two separate transactions. Prepare the entries for both the purchase and subsequent resale of the shares assuming...
question 18
The shareholders' equity section of the balance sheet of TNL Systems Inc. included the following accounts at December 31, 2020. Shareholders' Equity Common stock, 240 million shares at $1 par Paid-in capital excess of par Paid-in capital-share repurchase Retained earnings ($ in millions) $ 240 1,689 1 1,100 Required: 1. During 2021. TNL Systems reacquired shares of its common stock and later sold shares in two separate transactions. Prepare the entries for both the purchase and subsequent resale...
The shareholders' equity section of the balance sheet of TNL Systems Inc. included the following accounts at December 31, 2020: Shareholders' Equity Common stock, 270 million shares at $1 par Paid-in capital-excess of par Paid in capital-share repurchase Retained earnings (s in millions) $ 270 1,890 2 1,700 Required: 1. During 2021, TNL Systems reacquired shares of its common stock and later sold shares in two separate transactions. Prepare the entries for both the purchase and subsequent resale of the...
Repurchase of shares:
the shareholders' equity section of Pretty Ornament, Inc's,
Balance sheet as if January 1st, 2019 was as follows:
Share capital:
Common shares. no par-value
120,000 shares authorised
50,000 shares issued.............$ 750,000
Retained earnings..................312,000
Total shareholders' equity...... $1,062,000
calucukate the average price of common shares before you
prepare the journal entries
REPURCHASE OF SHARES The shareholders' equity section of Pretty Ornament, Inc.'s, Balance sheet as of January 19, 2019 was as follows: Share capital: Common shares, no-par value,...
The shareholders' equity section of the balance sheet of TNL Systems Inc. included the following accounts at December 31,2017: (in millions) $ 280 1,680 Shareholders' Equity Common stock, 280 million shares at $1 par Paid-in capital-excess of par Paid-in capital-share repurchase Retained earnings 1,800 Required During 2018, TNL Systems reacquired shares of its common stock and later sold shares in two separate transactions. Prepare the entries for both the purchase and subsequent resale of the shares assuming the shares are...
TB Problem 18-155 (Algo) Cal Cookie Company (CCC) has 100 million shares of $1 par common stock authorized. The transactions below caused changes in CCC's outstanding shares January 4, 2021: Repurchased and retired 2.40 million shares at $7.60 per share. June 25, 2021: Repurchased and retired 3.40 million shares at $3.40 per share. Prior to the transactions, CCC's shareholders' equity included the following: Common stock, 79.60 million shares at $1 par Paid in capital-excess of par Retained earnings $ 79,600,000...
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