User Account

All Pages

What is the balance in Treasury Stock on December

Assignment Help Accounting Basics
Reference no: EM132692877

Problem - Lawn Spray Inc. develops and produces spraying equipment for lawn maintenance and industrial uses. On January 31 of the current year, Lawn Spray Inc. reacquired 50,000 shares of its common stock at $51 per share. On June 14, 24,000 of the reacquired shares were sold at $60 per share, and on November 23, 18,000 of the reacquired shares were sold at $56.

Required -

a. Journalize the transactions of January 31, June 14, and November 23.

b. What is the balance in Paid-In Capital from Sale of Treasury Stock on December 31 of the current year?

c. What is the balance in Treasury Stock on December 31 of the current year?

d. How will the balance in Treasury Stock be reported on the balance sheet?

Reference no: EM132692877

Questions Cloud

What are the key problems that cm tech could run : What are the key problems that CM Tech could run into throughout the budgeting process that could reduce the effectiveness of their budget?
Prepare paid-in capital portion of the stockholders equity : Common Stock, no par, $14 stated value $4,480,000. Prepare the Paid-In Capital portion of the stockholders' equity section of the balance sheet
Identify corporate and business level strategies : Identify the corporate and business level strategies of the company. Summarize your recommendation to the company.
Describe the code of ethics for the health care occupation : Describe the limits of authority and responsibility legislated "scope of practice" for this health care career Describe the "Code of Ethics" for this health
What is the balance in Treasury Stock on December : On January 31 of the current year, Lawn Spray Inc. reacquired 50,000 shares of its common stock at $51 per share. What is the balance in Treasury Stock
Describe the requirements for the profession : Identify at least two different types of educational institutions/schools offering the program. State how much time it takes to complete the program
Problems create opportunities for firms : Briefly discuss what it means, in general, "problems create opportunities for firms." What can firms do with problems?
What is the balance in paid-in capital from sale : On April 30 Lava Lake Inc. sold 90,000 of the reacquired shares at $20 per share. What is the balance in Paid-In Capital from Sale of Treasury Stock on December
Motivation and performance management : Determine how motivational theory and performance management principles are related to employee performance at a given company.

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