User Account

All Pages

Calculate the number of shares issued

Assignment Help Financial Accounting
Reference no: EM132868320

Question - On Jan. 1, 2019, Gulane Corporation had the following balances in its shareholders' equity accounts:

Ordinary shares, 5 par 500,000

Share Premium-Ordinary 2,000,000

Retained Earnings 7,000,000

On March 28, the corporation purchased 10,000 shares as treasury stock at 15 per share. On April 10, it sold 4,000 of the treasury shares at 14 per share. On July 5, it sold 2,000 shares at 16 per share.

Required -

1. Calculate the number of shares issued and the number of shares outstanding on Jan. 1, Mar. 31, June 30, and Sept. 30, 2019 assuming no other equity transactions occurred.

2. Prepare the journal entries for the treasury stock transactions.

3. Why would a corporation buy its own shares of stock?

Reference no: EM132868320

Questions Cloud

Determine the cost of equity for firms U and L : Consider the following information for an unlevered firm UEBIT = $1,600 annually. Determine the cost of equity for firms U and L
Discuss the tenets of nursing metaparadigm : Discuss the tenets of nursing's metaparadigm. Identify personal philosophy of nursing. Articulate changes in personal philosophy over time.
Indirect financial benefit from bariatric center : Identify and explain the indirect financial benefit from a bariatric center of excellence to various hospital departments,
How does vision fit with the recommendations in the iom : How does your vision fit with the recommendations in the IOM report? What two action steps do you plan to take to promote this vision?
Calculate the number of shares issued : Calculate the number of shares issued and the number of shares outstanding on Jan. 1, Mar. 31, June 30, and Sept. 30, 2019 assuming no other equity transactions
Fundamentals of effective cummication in work place : Discuss at least three reason why you preceived the communication to be effective andexplain the resulting impact to the business.
Illustrate using two states of the world : How can the statement be recast in terms of the notions of beliefs and "choices reveal beliefs"? Illustrate using two states of the world (good economy)
Identify the senior leadership team : 1. Choose your organization, briefly summarize the business your organization is in. Jeff Bezos founded Amazon.com in 1994. Amazon's mission is to be Earth's mo
What adverse reactions should the patient be aware of : David remains on metoprolol, but is later also prescribed a calcium-channel blocker. Explain what could possibly go wrong with this combination of medications

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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