Compute the balance of share premium treasury stock

Assignment Help Financial Accounting
Reference no: EM132891092

Little John Company has 250,000 shares of P10 par value stock outstanding. During 2023, the company had the following transactions:

January 15- Purchased 6,000 shares of its own stock at P20 per share.
February 2- Sold 1,500 shares of stock purchased on January 15 for P22 per share
November 14-Sold 2,000 shares of stock purchased on January 15 for P18 per share.

Problem 1:
Compute the balance of Share Premium Treasury Stock at the end of the year

Reference no: EM132891092

Questions Cloud

Unit 14 building information modelling assignment : UNIT 14 Building Information Modelling Assignment Help and Solution, Pearson Higher Nationals in Construction and the Built Environment - Assessment Writing
Considering market development versus product development : Imagine you are working for a company that has $1 million to spend on a new strategy and is considering market development versus product development.
Analyze current and recent economic conditions : Analyze current and recent economic conditions. Provide a two-page (maximum) economic summary. Identify whether the economy is expanding
Why permanent differences do not impact future periods : Discuss why permanent differences do not impact future periods' taxable income and how these differences affect tax rates
Compute the balance of share premium treasury stock : Compute the balance of Share Premium Treasury Stock at the end of the year. Little John Company has 250,000 shares of P10 par value stock
Constructive eviction and implied warranty of habitability : What causes of action does Steve have? What remedies does he have for the faulty heater?
Calculate the standard deviation of returns for each stock : Assuming that your company has $10,000 available for investment in the stock market, which of these stock/s will you buy if you were the finance manager?
How much will jun receive if all partner have no other asset : Liabilities of P200,000 were paid. How much will Jun receive if all partners have no other asset except their investment in the partnership?
Prepare Vickers income tax journal entry at the end : Vickers Company reports taxable income of $4,500 for 2019. Prepare Vickers's income tax journal entry at the end of 2019

Reviews

Write a Review

Financial Accounting Questions & Answers

  Estimate the net present value of an orphan drug profits

Megafund, Estimate the net present value of an orphan drug's profits over its competition-free lifespan at the moment of product launch.

  Prepare the journal entries to record the exchange

Prepare the journal entries to record the exchange on the books of both companies. Assume that the exchange lacks commercial substance and prepare the journal entries to record the exchange on the books of both companies

  Accumulated depreciation-equipment and depreciation expense

At the end of its first year of operations, the trial balance of Alonzo Company shows Equipment $34,760 and zero balances in Accumulated Depreciation-Equipment and Depreciation Expense. Depreciation for the year is estimated to be $2,750.

  How does company x default risk

Company X has current assets worth $750,000, What is Company X's current ratio, and how does Company X's default risk compare to that of Company Y?

  Gross profit margin for each product produced based

ATC 5-1 (PG. 246) Using ABC to improve product pricing) Answer the four questions posed in the case. Include in your answer the basic differences between volume based (traditional) overhead application procedures and the ABC method. Determine the gro..

  What is the balance in inventory

The SOS Corporation uses FIFO for its inventory accounting. During 2013, the company sold 2930 number of widgets. What is the balance in Inventory on 12/31/2013

  What is the expected growth rate of kjs dividend

What is KJ's current stock price? (note: round to the nearest cent) What is the expected Growth Rate of KJ's dividend? (note: round to the nearest 100th )

  The estimated product warranty

The estimated product warranty is 4% of sales. Assume that sales were $700,000 for January.

  Determine the number of treasury shares

Determine the number of treasury shares, net, the company acquired during 2019. At what average price did the company repurchases shares in 2019?

  What is the future value

What is the Future Value at year 8, of a $3,000 inflow at time zero (instantly), and a $1,000 outflow 6 years from now and a $4,000 inflow 7 years from now? Assume an interest rate of 10% for years 1, 2 and 3, 8% for years 4 and 5, and 15% for years ..

  What are the cash receipts

XYZ Corp has sales forecast of the following = January = $40,000; February = $65,000; March = $52,850. All sales are on account and are collected as follows: 20% in the current month, 50% in the month following, 25% in the second month following, and..

  Discuss the recognition and measurement of revenue arising

Discuss the recognition and measurement of revenue arising on the contract with MSL for the manufacture, installation and integration of the cash-counting

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