In 2018, Borland Semiconductors entered into the transactions described below. In 2015, Borland had issued170 million shares of its $1 par common stock at $34 per share.Required:Assuming that Borland retires shares it reacquires, record the appropriate journal entry for each of the followingtransactions:1. On January 2, 2018, Borland reacquired 10 million shares at $32.50 per share.2. On March 3, 2018, Borland reacquired 10 million shares at $36 per share.3. On August 13, 2018, Borland sold 1 million shares at $42 per share.4. On December 15, 2018, Borland sold 2 million shares at $36 per share.

Manley Company repurchases 10,000 shares of its $0.10 par value common stock for $30 per share on June 30, 2020. On February 5, 2021, Manley reissues 6,000 of the treasury shares for $35 per share. What journal entry does Manley make on February 5?

Edward Corporation is authorized to issue 100,000 shares of $1 par value common stock. During 2021, Edward Corporation took part in the following selected transactions. Prepare journal entry(entries) for following independent event.   1. Purchased 10,000 shares of treasury stock at $50 per share. The treasury shares purchased were issued in 2019 at $31 per share. Assuming Edward uses the retirement method to prepare entry and before this transaction the company had $120,000 credit balance of Paid-in capital – shares repurchase and $1,500,000 retained earnings.   2. The board votes a 3-for-1 stock split. At the date, the market value is $52.    3. The board votes a 120% stock dividend. At the date, the market value is $55, assuming the company treats the distribution as "large" stock dividends effected in the form of a stock dividend and before this transaction the company has 330,000 shares of common stock.

On January 1, 2020, Urban Inc. issued 10,000 shares of $1 par common stock for $10 per share. On June 30, 2020, Urban Inc. reacquired 1,000 shares of common stock at $8 per share. On December 15, 2020, Urban Inc. reissued 500 shares of common stock at $12 per share. Assume that Urban accounts for repurchases of its common stock as direct stock retirements. The entry on June 30, 2020, to account for the direct stock retirement would include a Credit to Paid-in Capital in Excess of Par-Common Stock for $2,000. Credit to Retained Earnings for $2,000. Debit to Paid-in Capital in Excess of Par-Common Stock for $9,000. Debit to Retained Earnings for $9,000.

Glen Tay Inc. had issued 24,000 shares of its no-par common shares on April 1, 2017 for property with an appraisal value of $320,000. The common shares of the company were being traded at $13.15 each on that day.   What is the journal entry required to record the issuance of the shares? Select one: a. DR Common Shares Receivable, $320,000; CR Common Share Capital, $315,600; CR Gain On Issue Of Shares, $4,400. b. DR Common Shares Receivable, $320,000; CR Common Share Capital, $315,600; CR Contributed Surplus - Common Shares, $4,400. c. DR Property, $320,000; CR Common Share Capital, $315,600; CR Retained Earnings -Issue Of Shares, $4,400. d. DR Property, $320,000; CR Common Share Capital, $315,600; CR Gain On Issue Of Shares, $4,400. e. None of the above entries.

Knapp Industries began business on January 1, 2018 by issuing all of its 1,000,000 authorized shares of its $1 par value common stock for $40 per share. On June 30, Knapp declared a cash dividend of $2 per share to stockholders of record on July 31. Knapp paid the cash dividend on August 30. On November 1, Knapp reacquired 200,000 of its own shares of stock for $50 per share. On December 22, Knapp resold 100,000 of these shares for $60 per share. Required: Prepare all of the necessary journal entries to record the events described above. Prepare the stockholders' equity section of the balance sheet as of December 31, 2018 assuming that the net income for the year was $6,000,000.

During its first year of operations, Cupola Fan Corporation issued 30,000 of $1 par Class B shares for $385,000 on June 30, 2024. Share issue costs were $1,500. One year from the issue date (July 1, 2025), the corporation retired 10% of the shares for $39,500. Required: 1. to 4. Prepare the journal entries to record the issuance of the shares, the declaration of a $2 per share dividend on December 1, 2024, the payment of the dividend on December 31, 2024, and the retirement of the shares. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

In 2024, Western Transport Company entered into the treasury stock transactions described below. In 2022, Western Transport had issued 250 million shares of its $1 par common stock at $25 per share. Required: Prepare the appropriate journal entry for each of the following transactions: Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10). On January 23, 2024, Western Transport reacquired 15 million shares at $28 per share. On September 3, 2024, Western Transport sold 2 million treasury shares at $29 per share. On November 4, 2024, Western Transport sold 2 million treasury shares at $26 per share. Can you please share the Math on this.