User Account

All Pages

Prepare journal entries to record treasury stock transaction

Assignment Help Accounting Basics
Reference no: EM132824904

Marks Corporation's stockholders' equity at December 31, 2017, is as follows:

Common stock, $10 par (10,000 shares) $100,000

Paid in Capital in excess of par 3,000

Retained Earnings 197,000

Total Stockholders' Equity $300,000

The following treasury stock transactions occurred during 2018.

  1. Jan. 2 Purchased at $12 per share, 1,000 shares of their own stock.
  2. Feb. 4 Sold 500 shares of treasury stock at $13 per share.
  3. May 10 Sold 500 shares of treasury stock at $8 per share.

Problem 1: Prepare journal entries to record treasury stock transactions in 2018 under the cost method.

Reference no: EM132824904

Questions Cloud

What areas of social media activity reflect christian values : Based on the analysis of your social media, discuss what areas of your social media activity reflect Christian values as they relate to respecting human value.
Describe characteristics of the ell : Using the English Language Proficiency (ELP) Standards from Arizona or from your state, select the stage for a grade level of your choice. Based on the Common.
Pros and cons of incentive play plans : The CEO is considering revamping the incentive pay program. He's not sure whether a person-focused incentive plan or a team-based incentive plan would best addr
Identify why hr risk is an area of concern for risk managers : Identify why each HR risk is an area of concern for Risk Managers Protecting the firm from loss of unique talent that is difficult to replace.
Prepare journal entries to record treasury stock transaction : Prepare journal entries to record treasury stock transactions in 2018 under the cost method. Jan. 2 Purchased at $12 per share, 1,000 shares of their own stock.
Why is primary care so important : This discussion highlights on the health workforce as central to the health care system, and any changes in its deployment and utilization will have significant
Hrm in canada underwent major transformation : What were the changes and discuss what/how the external and internal environment contributed to the evolution of HRM?
What kind of asset is goodwill : Question - What kind of asset is goodwill? How is it calculated and what is FASB's required subsequent treatment of goodwill
Vaccine drive using donated supplies : Non-Profit company to start a vaccine drive using donated supplies for a third world country

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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