Record the treasury stock transactions

Assignment Help Accounting Basics
Reference no: EM131772566

Question - A company sold $50 par common stock for a total of $290000.oo of which $40000.00 was credited to Paid -in-capital in Excess Par. (You must figure out how many shares were sold).

Record the treasury stock transactions (given below) under the cost method:

A. Bought 280 shares of common stock as treasury shares at $73.

B. Sold 85 shares of treasury stock at$71.

C. sold 35 shares of treasury stock at $76.

Reference no: EM131772566

Questions Cloud

International financial currency exchange : 1. Why companies to issue stock abroad? Please use the supply demand graph to explain.
Rest invested in moon entreprises : What is the expected return on a portfolio with 40% of its assets invested in in Star Corp. and the rest invested in Moon Entreprises?
Prepare a variance analysis of fixed manufacturing overhead : Actual fixed manufacturing overhead incurred during the year was 272000. Prepare a variance analysis of fixed manufacturing overhead cost
Calculate the weighted average cost of capital : WACC: Book weights and market weights Webster Company has compiled the information shown in the following table.
Record the treasury stock transactions : Record the treasury stock transactions (given below) under the cost method: Bought 280 shares of common stock as treasury shares at $73
What is the yield to maturity of the? bonds : A 11?-year bond pays interest of $27.70 ?semiannually, has a face value of $1,000?, and is selling for $768.27. What are its annual coupon rate
Discuss about the changes in the confidence interval : Explain whether the width of a confidence interval would increase, decrease or remain the same as a result of each of the following changes.
Write a java application using netbeans ide : Modify the Java application using NetBeans IDE to meet these additional and changed business requirements:
Compute the volume of sales in units of each product : Letterman Company produces and sells two products: A and B in the ratio of 3A to 5B. Compute the volume of sales in units of each product needed

Reviews

Write a Review

Accounting Basics Questions & Answers

  Double-declining balance method

Calculate the amount of accumulated depreciation relating to the machine that would appear on XYZ Company's December 31, 2009 balance sheet assuming that the company is depreciating the machine using the double-declining balance method. Do not use..

  Prepare a bank reconciliation for the cash operating account

Using the Reconcile window, prepare a bank reconciliation for the Cash - Operating account as of June 30, 2017

  Sam created mno inc several years ago and has owned all 10

sam created mno inc. several years ago and has owned all 10 outstanding shares of mno inc. since the creation of mno

  Methods of evaluating capital investment proposals

The methods of evaluating capital investment proposals can be separated into two general groups--present value methods and:

  Effect on assets & liabilities from this transaction

Mr. X purchased a building for $ 5,000,000 by making a down payment of $ 1,000,000 and signing a $ 4,000,000 bill payable due in 60 days. What was the effect on assets & liabilities from this transaction?

  Compute net tax payable or refund due for alice

Compute net tax payable or refund due for Alice and Bruce Byrd for 2015. If they have overpaid, they want the amount to be refunded to them. If you use tax forms for your computations, you will need Forms 1040 and 2106 and Schedules A and B. Sugge..

  The equity of webster corporations balance sheet shows the

the equity of webster corporations balance sheet shows the following preferred stock-- 5 cumulative 10 par value 15

  What are the different types of financial ratios

What are the different types of financial ratios used to analyze financial performance? Are some ratios more important than others? Why? Which ratios are important to creditors? Investors? Managers? Why?

  Identify each event as asset source

Identify each event as asset source (AS), asset use (AU), asset exchange (AE), or claims exchange (CE). Also identify the account to be debited and the account to be credited when the transaction is recorded.

  An explanation for the difference between standard and

in december sam antari president of antari inc. received the following information from denise sweet the new controller

  Accountant of growth industries

Each of the following statements represents a decision made by the accountant of Growth Industries: a. A tornado destroyed $200,000 in uninsured inventory. This loss is included in the cost of goods sold.

  Prepare balance sheet for the taj ula and valda partnership

Taj, Ula and Valda decided to form a partnership on 1 April 2015. Prepare journal entries (with narrations) in general journal form to account for the formation of the Taj, Ula and Valda Partnership. Prepare a balance sheet for the Taj, Ula and Vald..

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