Prepare the General Journal entry for September

Assignment Help Accounting Basics
Reference no: EM132710572

Question - On January 2, 2016, Alpha Corporation issued 15,000 shares of $10 par value common stock for $15 per share. On March 1, 2016, Alpha reacquired 1,000 of these shares when they were trading $20 each. September 1, 2016, when the market was soaring, Alpha reissued 500 shares of treasury stock at the going market rate of $25 per share. Use this information to prepare the General Journal entry (without explanation) for September 1.

Reference no: EM132710572

Questions Cloud

Prepare Pepper journal entries related to intercompany sale : Salt reported common stock outstanding of $1,050,000 and retained earnings of $840,000; Prepare Pepper journal entries related to intercompany sale
Ethics play in using decision support software : Decision support tools rely on objective, mathematical data. What part does ethics play in using decision support software?
What is their year adjusted gross income : If Kabuo and Melinda choose to file jointly, what is their year 1) adjusted gross income, 2) taxable income, and 3) tax liability
What was the over- or underapplied manufacturing overhead : For the year, actual manufacturing overhead was $384,000 and total direct labor cost was $831,000. What was the over- or underapplied manufacturing overhead
Prepare the General Journal entry for September : On January 2, 2016, Alpha Corporation issued 15,000 shares of $10 par value common stock for $15 per share. Prepare the General Journal entry for September
Comprehensive change management process : The final critical thinking assignment for this course requires a comprehensive Change Management Process, including its origination and implementation.
What is the best definition of artificial intelligence : What is the best definition of artificial intelligence - any system that exhibits behavior that could be interpreted as human intelligence
What the adjusting entry that the company should make : If the company prepares monthly financial statements, what the adjusting entry that the company should make for interest on September 30
Calculate the balance in retained earnings : Troyer had a net loss of $75,000 and paid dividends to the stockholders of $50,000. At December 31, 2017, calculate the balance in Retained Earnings

Reviews

Write a Review

Accounting Basics Questions & Answers

  Determine the depletion cost per board foot

Question - Depletion, Timber, and Unusual Loss. Determine the depletion cost per board foot for the timber harvested prior to the eruption of Mount Leno

  List the governmental fund statements

List the government-wide statements. Indicate the measurement focus and basis of accounting used for the government-wide statements.

  Examine the various methods of accounting for an investment

Analyze the accounting requirements for consolidated financial information on the date of acquisition and subsequent to the date of acquisition. Examine the various methods of accounting for an investment in equity shares of another company..

  What is the maximum amount amber can elect for salary

Amber's salary is $99,000, What is the maximum amount Amber can elect for salary deferral treatment for 2019

  Journalize the first interest payment

Question - Discount Amortization. Journalize the first interest payment and the amortization of the related bond discount. Round to the nearest dollar

  Prepare the payroll for the first pay period of december

Prepare the payroll for the first pay period of December from Time Clerk's Report Nos. 46 and 47, and record the paychecks issued all employees

  What are the company marginal and average tax rates

The Talley Corporation had a taxable income of $345,000. What are the company's marginal and average tax rates on taxable income

  How much profit did you earn on the sale

If the annual interest rate is 8% and the how much profit did you earn on the sale of the equipment

  How much would be willing to pay for series of cash flows

How much would be willing to pay for series of cash flows,If interest rates are 5 percent per year, how much would you be willing to pay for this series of cash

  Rzio co purchases a machine for 12500 terms 210 n60 fob

rizio co. purchases a machine for 12500 terms 210 n60 fob shipping point. the seller prepaid the 360 freight charges

  What is the maximum federal cost recovery deduction

What is the maximum federal cost recovery deduction Johnson Corporation can claim on the land and office building purchased in 2014

  Prepare the journal entries that Palantir would make

Prepare the 2017 journal entries that Palantir would make for the 10 Osgilith MRI machines that are sold if customers elect to pay at delivery

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