How do you record this transaction?, Cost Accounting

Assignment Help:

Two classes of stock authorized: $100 par preferred and $2 par common


how do you record this transaction?

May 18 Issues 30,000 additional shares of $2 common stock for $75 per share.

May 25 Issue 8,000 shares of preferred stock for $125 per share.

July 1 Declare a cash dividend of $1.25 per share on common stock and $3.00 per share on preferred stock to all stockholders of
record on July 15.

July 31 Pay the cash dividend declared on July 1.

August 15 Repurchase 9000 shares of treasury stock for $70 per share.

October 1 Reissue 4000 shares of treasury stock purchased on August 15 for $75 per share.

 


Related Discussions:- How do you record this transaction?

Determine opportunity costs, Determine Opportunity Costs A company has...

Determine Opportunity Costs A company has material B in stock that originally cost Shs. 5000 for the 1000 Kshs in stores. The material is missing over from an old purchase ord

Classification of cost, what is the meaning of classification of cost in re...

what is the meaning of classification of cost in relation to variability?

Cost accounting data and principles, Questions What are your recommenda...

Questions What are your recommendations to Ted Lapres? What aspects should he keep, what should he change, and in what sequence should he make the changes? • Do you think the D

Describe the costing system, Go the Hershey website to learn how to make He...

Go the Hershey website to learn how to make Hershey chocolate. (There is also a "print friendly" version of the chocolate making process at the end of the video.) Review the proces

introduction of internal rate of return , Introduction of Internal Rate of...

Introduction of Internal Rate of Return The traditional internal rate of return (IRR) method of project selection has been shown to be inferior to the NPV method due to vario

The overhead cost variances , The following facts have been extracted fr...

The following facts have been extracted from the standard cost card for product X:

Flexible budget, Flexible Budget Flexible budget is a budget that is d...

Flexible Budget Flexible budget is a budget that is designed to change in accordance along with the level of activity attained. It includes budgeting at various levels in anti

Material cost, distinguish between bin card and store ledgre

distinguish between bin card and store ledgre

Accounting, 1. Develop a list of tasks that a newly appointed CFO would be ...

1. Develop a list of tasks that a newly appointed CFO would be responsible for, including relevant reports they will access and review and the schedule for when this would occur.

Write Your Message!

Captcha
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