Question

Lannister, Inc. reacquired 8,000 shares of its $17 - par common stock for $12/share. The debit to Treasury Stock will be: O A
0 0
Add a comment Improve this question Transcribed image text
Answer #1

Correct option is : C

96000$

Explanation :

8000 shares × 12 =. 96000$

To be debited to the treasury stock

Thank you

Hope you understand

Please rate if you understand

Add a comment
Know the answer?
Add Answer to:
Lannister, Inc. reacquired 8,000 shares of its $17 - par common stock for $12/share. The debit...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Wlusions, Inc. reacquired 22,000 shares of its common stock for $15 per share on June 1....

    Wlusions, Inc. reacquired 22,000 shares of its common stock for $15 per share on June 1. On July 1 they sold 9,000 treasury shares for $22 per share. On August 1 they sold 8,000 treasury shares for $14 per share. Assuming no prior balance in the Additional Paid - in Capital from Treasury Stock Transactions account, what is the ending balance in this account following these transactions? O A. $8,000 credit balance O B. $55,000 dobit balance OC. $55,000 credit...

  • On May 27, Mama Mia Inc. reacquired 6,700 shares of its common stock at $19 per share. On August ...

    I will give thumbs up. please answer all. Numbers and the blue arrows On May 27, Mama Mia Inc. reacquired 6,700 shares of its common stock at $19 per share. On August 3, Mama Mia sold 2,800 of the reacquired shares at $22 per share November 14, Mama Mia sold the remaining shares at $18 per share. Journalize the transactions of May 27, August 3, and November 14. For a compound transaction, if an amount box does not require an...

  • Land Corporation reported the following: Common Stock, $5.00 par, 217,000 shares authorized, 178,000 shares issued $890,000...

    Land Corporation reported the following: Common Stock, $5.00 par, 217,000 shares authorized, 178,000 shares issued $890,000 Paid in Capital in Excess of Par—Common 202,000 Retained Earnings 231,000 Total Stockholders' Equity $1,323,000 Which of the following is included in the entry to record the corporation's purchase of 40,000 shares of its common stock for $13.50 per share? OA. Paid - In Capital from Treasury Stock Transactions is credited for $190,000. OB. Treasury Stock-Common is debited for $540,000. OC. Common Stock-$5.00 Par...

  • Entries for Treasury Stock On May 27, Kick Off Inc. reacquired 6,300 shares of its common...

    Entries for Treasury Stock On May 27, Kick Off Inc. reacquired 6,300 shares of its common stock at $50 per share. On August 3, Kick Off sold 3,000 of the reacquired shares at $53 per share. November 14, Kick Off sold the remaining shares at $49 per share. Journalize the transactions of May 27, August 3, and November 14. For a compound transaction, if an amount box does not require an entry, leave it blank. May 27 Aug. 3 Nov....

  • Entries for Treasury Stock On May 27, Buzz Off Inc. reacquired 7,300 shares of its common...

    Entries for Treasury Stock On May 27, Buzz Off Inc. reacquired 7,300 shares of its common stock at $40 per share. On August 3, Buzz Off sold 4,000 of the reacquired shares at $43 per share. November 14, Buzz Off sold the remaining shares at $39 per share. Journalize the transactions of May 27, August 3, and November 14. For a compound transaction, if an amount box does not require an entry, leave it blank. May 27 Aug. 3 Nov....

  • Entries for Treasury Stock On May 27, Buzz Off Inc. reacquired 3,200 shares of its common...

    Entries for Treasury Stock On May 27, Buzz Off Inc. reacquired 3,200 shares of its common stock at $50 per share. On August 3, Buzz Off sold 1,700 of the reacquired shares at $53 per share. November 14, Buzz Off sold the remaining shares at $49 per share. Journalize the transactions of May 27, August 3, and November 14. For a compound transaction, if an amount box does not require an entry, leave it blank. May 27 Aug. 3 Nov....

  • Entries for Treasury Stock On May 27, Mama Mia Inc. reacquired 4,800 shares of its common...

    Entries for Treasury Stock On May 27, Mama Mia Inc. reacquired 4,800 shares of its common stock at $33 per share. On August 3, Mama Mia sold 2,900 of the reacquired shares at $36 per share. November 14, Mama Mia sold the remaining shares at $32 per share. Journalize the transactions of May 27, August 3, and November 14. For a compound transaction, if an amount box does not require an entry, leave it blank. May 27 - Aug. 3...

  • Entries for Treasury Stock On May 27, et loose Inc reacquired 4,700 shares of its common...

    Entries for Treasury Stock On May 27, et loose Inc reacquired 4,700 shares of its common stock at $43 per share On August 3, Let Loose sold 3,000 of the racquired shares at $46 per share. November 14, Let Loose sold the remaining shares at $42 per share Journaise the transactions of May 27, August 3, and November 14 for a comsund transaction fan amount box does not require an entry leave it blank May 27 Treasury Stock Cash A...

  • Emma, Inc. reacquired 168,882 of its shares at $23 per share as treasury stock. Last year,...

    Emma, Inc. reacquired 168,882 of its shares at $23 per share as treasury stock. Last year, for the first time, Emma sold 38,774 treasury shares at $27 per share. What is the credit to PIC - Share repurchase for Emma's 1st sale?

  • Multiple choice quest On September 1, 2017, Marigold Corp. reacquired 28400 shares of its $15 par...

    Multiple choice quest On September 1, 2017, Marigold Corp. reacquired 28400 shares of its $15 par value common stock for $20 per share, Marigold uses the cost method to account for treasury stock. The journal entry to record the reacquisition of the stock should debit O Treasury Stock for $568000. O Treasury Stock for $426000, O Common Stock for $426000 and Paid in Capital in Excess of Par for $142000 Common Stock for $426000

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT