Financial Accounting, Student Value Edition (5th Edition)
5th Edition
ISBN: 9780134728520
Author: Robert Kemp, Jeffrey Waybright
Publisher: PEARSON
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Chapter 11, Problem 9DQ
To determine
Show the sale of
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Treasury Stock Transactions
SprayCo Inc. develops and produces spraying equipment for lawn maintenance and industrial uses.
On March 9 of the current year, SprayCo reacquired 10,400 shares of its common stock at $33 per
share. On June 9, 6,600 of the reacquired shares were sold at $35 per share, and on November 13,
2,500 of the reacquired shares were sold at $38.
a. Journalize the transactions of March 9, June 9, and November 13. If an amount box does not
require an entry, leave it blank.
Mar. 9
June 9
Nov. 13
b. What is the balance in Paid-In Capital from Sale of Treasury Stock on December 31 of the
current year?
%24
1. How is the exchange of common stock for long-term term debt shown on the SCF?
2. How does the sum of the cashflow from the three major classifications on the scf relate to the change in balance sheet accounts from two successive balance sheets?
Do you add or subtract total retained earnings with paid in capital when accounting stock?
Chapter 11 Solutions
Financial Accounting, Student Value Edition (5th Edition)
Ch. 11 - Prob. 1DQCh. 11 - Prob. 2DQCh. 11 - Prob. 3DQCh. 11 - A company issued bonds during the year. Would this...Ch. 11 - Prob. 5DQCh. 11 - When using the indirect method, why are gains on...Ch. 11 - Prob. 7DQCh. 11 - Prob. 8DQCh. 11 - Prob. 9DQCh. 11 - Prob. 10DQ
Ch. 11 - Prob. 1SCCh. 11 - Operating activities are most closely related to:...Ch. 11 - Prob. 3SCCh. 11 - Prob. 4SCCh. 11 - Finlay, Inc., earned net income of 63,000 after...Ch. 11 - Prob. 6SCCh. 11 - Prob. 7SCCh. 11 - Prob. 8SCCh. 11 - Prob. 9SCCh. 11 - Elliot Enterprises had operating expenses of...Ch. 11 - Prob. 11SCCh. 11 - Prob. 12SCCh. 11 - Prob. 1SECh. 11 - Prob. 2SECh. 11 - Prob. 3SECh. 11 - Prob. 4SECh. 11 - Prob. 5SECh. 11 - Prob. 6SECh. 11 - Operating activitiesindirect method (Learning...Ch. 11 - Prob. 8SECh. 11 - Operating activitiesdirect method (Learning...Ch. 11 - Prob. 10SECh. 11 - Prob. 11SECh. 11 - Prob. 12SECh. 11 - Prob. 13AECh. 11 - Prob. 14AECh. 11 - Prob. 15AECh. 11 - Preparing a statement of cash flowsindirect method...Ch. 11 - Prob. 17AECh. 11 - Prob. 18AECh. 11 - Prob. 19AECh. 11 - Prob. 20AECh. 11 - Prob. 21AECh. 11 - Prob. 22BECh. 11 - Prob. 23BECh. 11 - Preparing a statement of cash flowsindirect method...Ch. 11 - Prob. 25BECh. 11 - Prob. 26BECh. 11 - Prob. 27BECh. 11 - Prob. 28BECh. 11 - Prob. 29BECh. 11 - Calculating certain information using the direct...Ch. 11 - Prob. 31APCh. 11 - Prob. 32APCh. 11 - Prob. 33APCh. 11 - Prob. 34APCh. 11 - Prob. 35APCh. 11 - Prob. 36APCh. 11 - Prob. 37BPCh. 11 - Prob. 38BPCh. 11 - Prob. 39BPCh. 11 - Prob. 40BPCh. 11 - Prob. 41BPCh. 11 - Prob. 42BPCh. 11 - Prob. 1CECh. 11 - Prob. 1CPCh. 11 - Apply Your Knowledge Ethics In Action Case 1....Ch. 11 - Case 2. Kevin Sailors, the CEO of Candle...Ch. 11 - Financial Analysis Purpose: To help to familiarize...Ch. 11 - Prob. 1IACh. 11 - Small Business Analysis Purpose: To help you...Ch. 11 - Written Communication Prepare a paper outlining...Ch. 11 - Comprehensive Problem The Accounting Cycle and...
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- The retirement of long-term debt by the issuance of common stock should be presented in a statement of cash shows as a:arrow_forwardWhat do the following data, taken from a comparative balance sheet, indicate about the companys ability to borrow additional long-term debt in the current year as compared to the preceding year?arrow_forwardStock subscriptions receivable are listed as __________ on the balance sheet. (a) current liabilities (b) current assets (c) long-term assets (d) contra-stockholders equityarrow_forward
- How is treasury stock reported on the balance sheet? Howis the “gain or loss” on reissued treasury stock reported onthe financial statements?arrow_forwardWhat is the balance of the share capital as of year-end?arrow_forwardFlowserve converted bonds to common stock. What section in he cash flow statement would this transaction be locatedarrow_forward
- Describe the event of “stock dividend” in terms of cash flows and accounting entries to the Balance Sheet accounts.arrow_forwardDescribe the cash flow and balance sheet account entries for the "stock dividend" occurrence.arrow_forwardIf $1488000 of bonds are issued during the year but $3100000 of old bonds are retired during the year, the statement of cash flows will show a(n)arrow_forward
- How is treasury stock reported on the balance sheet? Select one: Investment Contra asset Current asset Reduction of stockholders' equityarrow_forwardQuiz Question Please tell me what statement or statments End-of-period Retained Earnings Balance is on: Options: Income Statement Balance Sheet Statement of Cash Flows Statement of Retained Earningsarrow_forwardWhat is the relationship between cash flows from operations and net income for the year of the statement?arrow_forward
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