Calculate the balance in paid-in capital-treasury account

Assignment Help Financial Accounting
Reference no: EM132594969

At January 1, 2020, JYA Corporation had outstanding 6,000 shares of 5%, $30 par value preferred stock and 36,000 shares of $8 par value common stock.

The stockholders' equity account balances of JYA Corporation at January 1, 2020 are given below:

January 1, 2020

Preferred stock ...................... $180,000
Paid-in capital - preferred stock .... $102,000
Common stock ......................... $288,000
Paid-in capital - common stock ....... $216,000
Retained earnings .................... $111,000
Total stockholders' equity ......... $897,000

During January, JYA Corporation entered into the following transactions:

January 6:      Re-acquired 19,000 of the common shares for $14 per share

January 11: Re-issued 2,000 of the shares re-acquired on  January 6 for $16 per share

January 14:     Re-issued 3,000 of the shares re-acquired on January 6 for $11.25 per share

January 18: Issued 7,600 previously un-issued common shares for $15 per share

January 22: Re-issued 4,000 of the shares re-acquired on January 6 for $19 per share

January 28: Re-issued 5,000 of the shares re-acquired on January 6 for $12.80 per share

Question 1: Calculate the balance in the paid-in capital - treasury account at January 31, 2020.

Reference no: EM132594969

Questions Cloud

How calculate the balance in the retained earnings account : Calculate the balance in the retained earnings account at January 31, 2020.At January 1, 2020, JYA Corporation had outstanding 6,000 shares of 5%
Calculate the predetermined overhead rate : Calculate the predetermined overhead rate for 2014, assuming ABC Company estimates total manufacturing overhead costs of $980,000
How organization hr department could be innovative : How do you feel your organization's HR department could be more innovative and creative? Please give three suggestions and elaborate on how your suggestions.
Share the conclusion and corresponding ethical theory : Share the conclusion and corresponding ethical theory you created in the case study. Utilizing another ethical theory, make an argument against your conclusion
Calculate the balance in paid-in capital-treasury account : Calculate the balance in the paid-in capital - treasury account at January 31, 2020.At January 1, 2020, JYA Corporation had outstanding 6,000 shares of 5%
How could your organization operate with virtual teams : How could/or does your organization operate with virtual teams now or in the future? What are some of the ethical principles that your organization operates.
What the depreciation expense recorded on the equipment : Depreciated using the double-declining balance depreciation method. The depreciation expense recorded on the equipment in 2027 was equal to
What type of performance appraisal does organization use : What type of leader do you think will work best with virtual teams? What type of performance appraisal does your organization use? Is it effective in helping.
Standard operating procedures and performance metrics : Write a paper on Standard Operating Procedures (SOP's) and performance metrics. Describe the four primary types of security management plans.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Calculate the internal rate of return for machine

Calculate the internal rate of return for Machine A? [Hint: internal rate of return is the rate which results in a zero NPV using linear interpolation]

  Double-declining-balance to the straight-line method

Gerald Englehart Industries changed from the double-declining-balance to the straight-line method in 2015 on all its plant assets. There was no change in the assets’ salvage values or useful lives. Plant assets, acquired on January 2, 2012, had an or..

  What is charitable contribution deduction

In 2015, Webtel Corporation donated $50,000 to a qualifying charity. For the year, it reported taxable income of $310,000, which included the following: the $50,000 charitable contribution (before limitation), a $100,000 dividends received deduction,..

  Amount of assets reported on the balance sheet

Why do you think the president is so concerned with the amount of assets reported on the balance sheet? What accounting concept relates to the presidents first suggestion to report Intellectual Abilities as an asset?

  Design a multiple choice question on non assessable income

Design a multiple choice question on NON-ASSESSABLE INCOME only, including the explanation why you choose this answer.

  Determine the carrying amount of the note at december

Determine the interest expense for the year ended December 31, 2015. Determine the carrying amount of the note at December 31, 2015.

  Cash basis accounting what would the total gross income

Jennifer is a self-employed state-licensed speech therapist specializing in stroke victim rehabilitation. She is paid directly by nursing homes after submitting invoices to them documenting her services. In 2014, she collected $48,500 from the nursin..

  Prepare a partial income statement for hibou

Prepare A partial Income statement for Hibou for 2020. The statement should begin with income from continuing operations and appropriate disclosure footnote

  Calculate any passive investment income penalty tax payable

Flint, an S corporation with substantial AEP, reports operating revenues of $410,000, taxable interest income of $390,000, operating expenses of $260,000, and deductions attributable to the interest of $150,000. Calculate any passive investment incom..

  What is the clinic current level of business debt

What is the clinic's current level of business debt? A not-for-profit clinic is required to make monthly payments of $31,819.65 for the next 10 years

  What are janet and herman realized and recognized gains

exchange for his half-interest in their home with a total value of $150,000 and a basis of $130,000. What are Janet and Herman’s realized and recognized gains or losses on this exchange?

  What the amortization of actuarial gains for

Beginning of 20X2, and the average remaining service period of active employees is 10 years, then the amortization of actuarial gains for 20X2 is

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd