What's transaction can increase the amount of treasury stock in which shown in Shareholders' Equity in Balance sheet ( in this picture is $-8,131) ,for example, retirement of treasury stockThe picture attached is not the question, it's just illustrated supplementary of this question. Shareholders' equity:Common shares, par value $2.50 per share (authorized 2,000 shares,issued 1,071 and 1,072 shares)2,679Paid-in capital in excess of par value309Accumulated other comprehensive lossRetained earnings(399)21,809Treasury stock, at cost (223 shares)(8,131)Company shareholders' equity16,267

Treasury stock is also known as treasury shares is the stock which is reacquired by the company of…

What's transaction can increase the amount of treasury stock in which shown in Shareholders' Equity in Balance sheet ( in this picture is $-8,131) ,for example, retirement of treasury stock The picture attached is not the question, it's just illustrated supplementary of this question.

What's transaction can increase the amount of treasury stock in which shown in Shareholders' Equity in Balance sheet ( in this picture is $-8,131) ,for example, retirement of treasury stock The picture attached is not the question, it's just illustrated supplementary of this question.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 11MC: A company issued 30 shares of $.50 par value common stock for $12,000. The credit to additional...

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Stockholders equity accounts and other related accounts of Gonzales Company as of January 1, 20--, the beginning of its fiscal year, are shown below. (a)Received 20,000 for the balance due on subscriptions for preferred stock with a par value of 40,000 and issued the stock. (b)Purchased 10,000 shares of common treasury stock for 18 per share. (c)Received subscriptions for 10,000 shares of common stock at 19 per share, collecting down payments of 45,000. (d)Issued 15,000 shares of common stock in exchange for land with a fair market value of 290,000. (e)Sold 5,000 shares of common treasury stock for Si00,000. (f)Issued 10,000 shares of preferred stock at 11.50 per share, receiving cash. (g)Sold 3,000 shares of common treasury stock for 17 per share. REQUIRED 1. Prepare general journal entries for the transactions, identifying each transaction by letter. 2. Post the journal entries to appropriate T accounts. The cash account has a beginning balance of 300,000. 3. Prepare the stockholders equity section of the balance sheet as of December 31, 20--. Net income for the year was 825,000 and dividends of 400,000 were paid.
STATED VALUE, COMMON AND PREFERRED STOCK, AND NONCASH ASSETS Dans Hobby Stores had the following stock transactions during the year: (a) Issued 5,000 shares of no-par common stock with a stated value of 10 per share for 50,000 cash. (b) Issued 6,000 shares of no-par common stock with a stated value of 10 per share for 63,000 cash. (c) Issued 3,500 shares of no-par, 6% preferred stock with a stated value of 22 per share for 77,000 cash. (d) Issued 10,000 shares of 10 par common stock for land with a fair market value of 100,000. (e) Issued 11,000 shares of 10 par common stock with an 11 fair market value for a building with an uncertain fair market value. (f) Issued 8,000 shares of 30 par, 6% preferred stock for land with a fair market value of 243,000. REQUIRED Prepare general journal entries for these transactions, identifying each by letter.
Contributed Capital Adams Companys records provide the following information on December 31, 2019: Additional information: 1. Common stock has a 5 par value, 50,000 shares are authorized, 15,000 shares have been issued and are outstanding. 2. Preferred stock has a 100 par value, 3,000 shares are authorized, 800 shares have been issued and are outstanding. Two hundred shares have been subscribed at 120 per share. The stock pays an 8% dividend, is cumulative, and is callable at 130 per share. 3. Bonds payable mature on January 1, 2023. They carry a 12% annual interest rate, payable semiannually. Required: Prepare the Contributed Capital section of the December 31, 2019, balance sheet for Adams. Include appropriate parenthetical notes.
A company issued 30 shares of $.50 par value common stock for $12,000. The credit to additional paid-in capital would be ________. A. $11,985 B. $12,000 C. $15 D. $10,150
Total stockholders' equity. $11,262.432Entries for selected corporate transactionsNav-Go Enterprises Inc. produces aeronautical navigation equipment. Navo-Go Enterprises' stockholders' equity accounts, with balances on January 1, 20Y1, are as follows: Common Stock, $5 stated value (900,000 shares authorized, 620,000 shares issued)Paid-In Capital in Excess of Stated Value-Common StockRetained EarningsTreasury Stock (48,000 shares, at cost) $3,100,0001,240,0004,875,000288,000 The following selected transactions occurred during the year:Jan 15. Paid cash dividends of $0.06 per share on the common stock. Thedividend had been property recorded when declared on December 1 of the precedingfiscal year for $34,320.Mar. 15. Sold all of the treasury stocks for $6.75 per share. Apr. 13. Issued 200,000 shares of common stock for $8 per share.June 14 Declared a 3% stock dividend on common stock, to be capitalized at the market price of the stock, which is $7.50 per share. July 16 Issued stock…
Merck & Co., Inc. Stockholders' Equity ($ millions) Year Year Common stock, $0.50 par value Authorized-6,500,000,000 shares Issued-3,688,014,021 shares in current and prior year $1,844 $1,844 Other paid-in capital 41,098 41,202 Retained earnings 46,021 39,257 Accumulated other comprehensive loss (4,323) (2,197) 84,640 80,106 Less treasury stock, at cost: 741,052,632 shares in current year and 649,576,808 shares in prior year 36,160 30,482 Total Merck & Co., Inc. stockholders' equity $48,480 $49,624 a. Explain the derivation of the $1,844 million in the common stock account. Complete the calculation of total amount of shares. Enter share amounts in millions ($3,000,000 = $3). Round share amounts to the nearest whole number. 3,688 million shares X $ 0.5 = 1,844 million b. Using December 31, current year balances, at what average issue price were the Merck common shares issued? Round answer to two decimal places. $ 11.66 c. At what average cost was the Merck treasury stock as of December…
The equity balances of Memory Company as of the end of the reporting period are: Ordinary share capital, P100 par, 360,000 shares P 36,000,000 Subscribed ordinary share capital, 60,000 shares 6,000,000 Subscription receivable 2,000,000 Treasury shares, 20,000 shares, at cost 3,000,000 Retained earnings 10,000,000 Compute for the total shareholders’ equity on the balance sheet as of December 31, 2019.
An entity provided the following shareholders' equity at year-end:Ordinary share capital, P100 par, 72,000 shares 7,200,000Subscribed ordinary share capital, 12,000 shares 1,200,000Subscription receivable 400,000Treasury shares, 4,000 at cost 600,000Retained earnings 2,000,000What is the book value per ordinary share?
The Shareholders’ Equity section of ACCA Company on December 31 shows the following: Ordinary Share Capital, P50 par, 105,000 shares issued P 5,250,000 Share Premium – ordinary shares 1,010,000 Treasury Shares, 5,000 shares 300,000 Retained Earnings 10,000,000 Required: Provide the journal entries to be made under the following independent assumptions: 1. The company declared 10% share dividends on the ordinary share when the market value per share is PP130. 2. The company declared 20% share dividends on the ordinary share when the market value per share is PP130. 3. The company declared and paid P2 per share liquidating ddividends. 4. Assume instead that the 5,000 treasury shares were declared as share dividends.
Total stockholders’ equity. $11,262.432 Entries for selected corporate transactions Nav-Go Enterprises Inc. produces aeronautical navigation equipment. Navo-Go Enterprises’ stockholders’ equity accounts, with balances on January 1, 20Y1, are as follows: Common stock,$5 stated value (900,000 shares authorized , 620,000 shares issued ) $3,100,000 Paid-In Capital in Excess of Stated Value—Common Stock 1,240,000 Retained Earnings 4,875,000 Treasury Stock (48,000 shares, at cost) 288,000 The following selected transactions occurred during the year:Jan 15. Paid cash dividends of $0.06 per share on the common stock. The dividend had been property recorded when declared on December 1 of the preceding fiscal year for $34,320.Mar. 15. Sold all of the treasury stocks for $6.75 per share.Apr. 13. Issued 200,000 shares of common stock for $8 per share.June 14 Declared a 3% stock dividend on common stock, to be capitalized at the market price of the stock, which is $7.50 per share.July…
Accounting The following shareholders' equity accounts are included in the statement of financial position of CONDESSA CO. on December 31, 2018. Preference share capital, 8%, P100 par (200,000 shares authorized, 60,000 shares issued and outstanding) 6,000,000 Ordinary share capital, P5 par (2,000,000 shares authorized, 600,000 shares issued and outstanding) 3,000,000 Share premium 3,750,000 Retained earnings 3,500,000 Total 16,250,000 During 2019, Condessa took part in the following transactions concerning equity. 1. Paid the annual 2018 P8 per share dividend on preference shares and a P2 per share dividend on ordinary shares. These dividends had been declared on December 31, 2018. 2. Purchased 81,000 shares of its own outstanding ordinary shares for P40 per share. 3. Reissued 21,000 treasury shares for land valued at P900,000. 4. Issued 15,000 preference shares at P105 per share. 5. Declared a 10% stock dividend on the outstanding ordinary shares when the shares are selling for P45…
The Shareholders’ Equity section of ACCA Company on December 31 shows the following: Ordinary Share Capital, P50 par, 105,000 shares issued P 5,250,000 Share Premium – ordinary shares 1,010,000 Treasury Shares, 5,000 shares 300,000 Retained Earnings 10,000,000 Required: Provide the journal entries to be made under the following independent assumptions: 4. Assume instead that the 5,000 treasury shares were declared as share dividends.