User Account

All Pages

Journalize the treasury stock transactions

Assignment Help Accounting Basics
Reference no: EM132587620

On January 1, 2020, the stockholders' equity section of Bridgeport Corporation shows common stock ($4 par value) $1,200,000; paid-in capital in excess of par $1,000,000; and retained earnings $1,240,000. During the year, the following treasury stock transactions occurred.

Mar. 1 Purchased 50,000 shares for cash at $15 per share.

July 1 Sold 11,000 treasury shares for cash at $17 per share.

Sept. 1 Sold 9,500 treasury shares for cash at $14 per share.

Question a) Journalize the treasury stock transactions.

Question b) Restate the entry for September 1, assuming the treasury shares were sold at $12 per share.

Reference no: EM132587620

Questions Cloud

Project plan assignment : Design a website of their choice in their area of interest - The prototype will be used to test the applicability of interface design
Request for proposal meant for nonprofit services : A request for proposal (RFP) provides information from funder about what services/programs qualify and eligibility requirements must be met to apply for grant
Prepare journal entries for purchase of the treasury stock : Prepare journal entries for the purchase of the treasury stock and the three sales of treasury stock. Concord Corporation purchased from stockholders 5,600.
Personal responsibility and social responsibility : A Federalist representative democracy requires both personal responsibility and social responsibility of its citizens through personal involvement
Journalize the treasury stock transactions : Restate the entry for September 1, assuming the treasury shares were sold at $12 per share. Journalize the treasury stock transactions
What is the market equilibrium price : The market demand curve is Qd=450-5P+0.50Y, where Y is income in thousands of dollars and P is price. The market supply curve is Qs=5P.
Write a query to display all the movie names : Write a query to display all the Movie Names and the first name of the director who directed the movie in ascending order by Director_Fname
Difference between positive and normative accounting theory : Difference between positive and normative accounting theory? Why accounting theory is necessary for accounting student?Role of AICPA, AAA
Descriptive research and evaluative research : Describe the differences between descriptive research and evaluative research.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Mcdonald music sells used cds for 400 each during the month

mcdonald music sells used cds for 4.00 each. during the month of april mcdonald sold 7650 cds for cash and 13220 cds on

  How do the percent of revenue method and the percent of

how do the percent of revenue method and the percent of receivables method to estimate uncollectible accounts expense

  What evidence can the auditor use to uncover the fraud

Each year near the balance sheet date, when the president of Bargon construction, What evidence can the auditor use to uncover the fraud

  What proceeds does xyz receive from the investor

XYZ sells 200,000 of bonds to private investors, this bonds are due in five years, The bonds were sold to yield %8. What proceeds does XYZ receive from investor

  Gull corporation reported pretax book income of 2000000

gull corporation reported pretax book income of 2000000. included in the computation were favorable temporary

  Explain that it takes a variety of techniques and approaches

Explain that it takes a variety of techniques and approaches to verify and corroborate audit evidence

  Prepare the entries for todd company for the purchase

On January 2, Todd Company acquired 40% of the outstanding stock of McGuire Company for $205,000. For the year ending, December 31, McGuire earned income of $48,000 and paid dividends of $14,000.

  Result of receiving the group-term life benefit

Assuming that Gray is 52 years old, determine the monthly premium that Gray must include in income as a result of receiving the group-term life benefit?

  Woody corp had taxable income of 8000 in the current year

woody corp. had taxable income of 8000 in the current year. the amount of macrs depreciation was 3000 while the amount

  How do calculate notes payable and investments

how do I calculate notes payable and investments

  How does this schedule make virtualization more

Consider Jerry Jones other 30+ businesses in other locations. Chances are they do most of their computing during working hours, while football games are usually scheduled for evenings and weekends. How does this schedule make virtualization more d..

  Interfund and interactivity transactions

Interfund and Interactivity Transactions

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