Purchased 2000 shares of treasury stock for 80000

Question: On September 12, Our Company Purchased 2,000 Shares Of The Company’s $1 Par Value Common Stock As Treasury Stock, Paying $9 Cash. What Account(s) And Amount(s) Would We Debit When We Record The Journal Entry For This Transaction? Cash, $2,000 Common Stock, $18,000 Treasury Stock, $18,000 Treasury Stock, $2,000 Nov 2 8 Purchased 2000 shares of treasury stock for 70000 Instructions from ACG 2071 at Daytona State College

When the company sells the treasury stock, Cash is debited for the sales price (500 shares $3 per share = $1,500) and Treasury Stock is credited for the price the company paid to acquire the stock (500 shares $2 per share = $1,000). The difference between the sales and purchase prices ($1,500 - $1,000 = $500) is credited to Paid-In Capital from Treasury Stock Transactions. Ramos Corporation sold 200 shares of treasury stock for $45 per share. The cost for the shares was $35. The entry to record the sale will include a a. credit to Gain on Sale of Treasury Stock for $7,000. b. credit to Paid-in Capital from Treasury Stock for $2,000. c. debit to Paid-in Capital in Excess of Par for $2,000. E11-2 Sagan Co. had these transactions during the current period. Issued 80,000 shares of $1 par value common stock for cash of $300,000. June 12 July 11 Issued 3,000 shares of $100 par value preferred stock for cash at $106 per share Nov. 28 Purchased 2,000 shares of treasury stock for $9,000. On March 1, 20X1, the company purchased 2,000 shares of its common stock for $15 per share for the treasury. Journalize the stock transactions of Wooden Company in 20X1.

12 Jun 2019 June 12 Issued 80000 shares of $1 par value common stock fo Nov 28 Purchased 2,000 Shares Of Treasury Stock For $9,000. Prepare The 

On March 1, 20X1, the company purchased 2,000 shares of its common stock for $15 per share for the treasury. Journalize the stock transactions of Wooden Company in 20X1. Nov. 28 Purchased 2,000 shares of treasury stock for $ 80,000. Instructions: Journalize the transactions. Instructions : 1. Prepare the entries, if any, on each of the three dividend dates. 2.How are dividends and dividends payable reported in the financial statements prepared at December 31? On January 1, Armada Corporation had 95,000 shares The par value of shares is ignored for recording the purchase of treasury stock under cost method. For example, Eastern company repurchases 2,500 shares of its own common stock from stockholders. The par value per share is $10 and company reacquires it for $80 .The entry for this transaction would be made as follows: par value preferred stock for cash at $106 per share.Nov. 28 Purchased 2,000 shares of treasury stock for $9,000.InstructionsPrepare the journal View Answer Noble Co. had these transactions during the current period.

Purchase of treasury stock – cost method: Journal entry: Under cost method, the treasury stock account is debited and cash account is credited with the amount paid for acquiring the shares of treasury stock (i.e., the cost of treasury stock). The par value of shares is ignored for recording the purchase of treasury stock under cost method.

On March 1, 20X1, the company purchased 2,000 shares of its common stock for $15 per share for the treasury. Journalize the stock transactions of Wooden Company in 20X1. Nov. 28 Purchased 2,000 shares of treasury stock for $ 80,000. Instructions: Journalize the transactions. Instructions : 1. Prepare the entries, if any, on each of the three dividend dates. 2.How are dividends and dividends payable reported in the financial statements prepared at December 31? On January 1, Armada Corporation had 95,000 shares

28 Purchased 2,000 shares of treasury stock for $80,000. Instructions. Journalize the transactions. E11-13. On January 1, Guillen Corporation had 95,000 shares 

Purchased shares, called treasury stock, are included as part of shares issued, but excluded from shares Preferred dividends for 2021 (2,000 shares x 7% x $50 par value). 7,000 Additional Paid-in Capital 119,200 = 80,000+38,000+ 1,200.

Nov 2 8 Purchased 2000 shares of treasury stock for 70000 Instructions from ACG 2071 at Daytona State College

Dukas Co. had these transactions during the current period. June 12 Issued 80,000 shares of $1 par value common stock for cash of $300,000. July 11 Issued 3,000 shares of $100 par value preferred stock for cash at $106 per share. Nov. 28 Purchased 2,000 shares of treasury stock for $9,000. Instructions Prepare the journal entries for the Dukas Co. transactions July 11 Issued 1,000 shares of $100 par value preferred stock for cash at $110 per share. Nov 28 Purchased 2,000 shares of treasury stock for $80,000. Instructions: Journalize the transactions. E11-13. On January 1, Guillen Corporation had 95,000 shares of no-par common stock issued and outstanding. The stock has a stated value of $5 per share. Question: On September 12, Our Company Purchased 2,000 Shares Of The Company’s $1 Par Value Common Stock As Treasury Stock, Paying $9 Cash. What Account(s) And Amount(s) Would We Debit When We Record The Journal Entry For This Transaction? Cash, $2,000 Common Stock, $18,000 Treasury Stock, $18,000 Treasury Stock, $2,000 Nov 2 8 Purchased 2000 shares of treasury stock for 70000 Instructions from ACG 2071 at Daytona State College Purchase of treasury stock – cost method: Journal entry: Under cost method, the treasury stock account is debited and cash account is credited with the amount paid for acquiring the shares of treasury stock (i.e., the cost of treasury stock). The par value of shares is ignored for recording the purchase of treasury stock under cost method. Treasury stock (treasury shares) are the portion of shares that a company keeps in its own treasury. Treasury stock may have come from a repurchase or buyback from shareholders, or it may have

a. Purchased 5,000 shares of its own common stock at $25 per share on October 11. b. Sold 1,000 treasury shares on November 1 for $31 cash per share. c. Sold all remaining treasury shares on November 25 for $20 cash per share. Nov. 28 Purchased 2,000 shares of treasury stock for $80,000. Instructions. Journalize the transactions. E11-13. On January 1, Guillen Corporation had 95,000 shares of no-par common stock issued and outstanding. The stock has a stated value of $5 per share. During the year, the following occurred. Slaton Company originally issued 3,000 shares of $10 par value common stock for $90,000 ($30 per share). Slaton subsequently purchases 300 shares of treasury stock for $27 per share and resells the 300 shares of treasury stock for $29 per share. In the entry to record the sale of the treasury stock, there will be a. Ramos Corporation sold 200 shares of treasury stock for $45 per share. The cost for the shares was $35. The entry to record the sale will include a a. credit to Gain on Sale of Treasury Stock for $7,000. b. credit to Paid-in Capital from Treasury Stock for $2,000. c. debit to Paid-in Capital in Excess of Par for $2,000.