Constructive retirement method prepare the journal entry

Assignment Help Financial Accounting

Reference no: EM131217635

For the cost and par value methods, prepare journal entry examples of each using the following information:

1000 shares of $5 par stock were sold for $7.

500 shares were repurchased at a price of $6.

The 500 shares were later sold for $3500.

For the constructive retirement method prepare the following journal entry:

The shares were retired.

Reference no: EM131217635

Questions Cloud

General relation among total : In the general relation among total, marginal and average quantities, which of them are necessarily true, or which are not?

Stock and bonds to diversify their holdings : Why is it important for people who own stock and bonds to diversify their holdings? What type of financial institution makes diversification easier?

Analyze the running time of method : Analyze the running time of method - Choose a partitioning strategy you like to pick a pivot element from the sequence. Analyze how different portioning strategies may impact on the performance of the sorting algorithm.

Produce a two-party system : A "first past the post" electoral system is likely to produce a two-party system, while proportional representation generally results in a multiparty system. Why do these different electoral systems produce different party systems? Is a two party ..

Constructive retirement method prepare the journal entry : For the cost and par value methods, prepare journal entry examples of each using the following information: For the constructive retirement method prepare the following journal entry:

Describe the misalignment and the consequences of it : There are a variety of tools available for organizations to use to assess process. In this assignment you will learn how to apply a tool to a process situation.

Comparable advantage and absolute advantage : What is the difference between comparable advantage and absolute advantage?

What type of business would you like to own : As a potential business owner, discuss why and how you can use accounting in your business by answering the following questions: What type of business would you like to own? How will you be able to tell if your business is successful? What accounting..

Ending inventory at lower-of-average-cost-or-market : The records for the Clothing Department of Oriole’s Discount Store are summarized below for the month of January. Ending inventory at retail $ Compute the ending inventory using lower-of-average-cost-or-market. Ending inventory at lower-of-average-co..

User Account

All Pages