On May 3, Zirbal Corporation purchased 8,500 shares of its own stock for $93,500 cash. On November 4, Zirbal reissued 1,750 sharesof this treasury stock for $21,000.Prepare the May 3 and November 4 journal entries to record Zirbal's purchase and reissuance of treasury stock.View transaction listJournal entry worksheet<12Record the purchase of 8,500 shares of its own stock for $93,500 cash.Note: Enter debits before credits.DateMay 03Record entryGeneral JournalClear entryDebitCreditView general journal On May 3, Zirbal Corporation purchased 8,500 shares of its own stock for $93,500 cash. On November 4, Zirbal reissued 1,750 sharesof this treasury stock for $21,000.Prepare the May 3 and November 4 journal entries to record Zirbal's purchase and reissuance of treasury stock.View transaction listJournal entry worksheet< 12Record the reissue of 1,750 shares of this treasury stock for $21,000.Note: Enter debits before credits.DateNovember 04General JournalDebitCredit

Treasury stock: Shares which are bought back by the company from the open market but not retired…

Answered: On May 3, Zirbal Corporation purchased…

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter15: Investments And Fair Value Accounting

Section: Chapter Questions

Problem 3PA

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On May 3, Zirbal Corporation purchased 7,500 shares of its own stock for $67,500 cash. On November 4, Zirbal reissued 1,650 shares of this treasury stock for $16,500. Prepare the May 3 and November 4 journal entries to record Zirbal's purchase and reissuance of treasury stock. View transaction list Journal entry worksheet 1 2 Record the purchase of 7,500 shares of its own stock for $67,500 cash. Note: Enter debits before credits. Date May 03 General Journal Debit Credit <
On May 3, Zirbal Corporation purchased 8,500 shares of its own stock for $93,500 cash. On November 4, Zirbal reissued 1,750 sha of this treasury stock for $21,000. Prepare the May 3 and November 4 journal entries to record Zirbal's purchase and reissuance of treasury stock. View transaction list Journal entry worksheet < 1 2 Record the purchase of 8,500 shares of its own stock for $93,500 cash. Note: Enter debits before credits. Date May 03 Record entry General Journal Clear entry Debit Credit View general journal
On May 3, Zirbal Corporation purchased 7,000 shares of its own stock for $49,000 cash. On November 4, Zirbal reissued 1,050 shares of this treasury stock for $8,400. Prepare the May 3 and November 4 journal entries to record Zirbal's purchase and reissuance of treasury stock. View transaction list Journal entry worksheet 1 2 Record the purchase of 7,000 shares of its own stock for $49,000 cash. Note: Enter debits before credits. Date May 03 Record entry General Journal Clear entry Debit Credit View general journal >
On May 3, Zirbal Corporation purchased 4,000 shares of its own stock for $36,000 cash. On November 4, Zirbal reissued 850 shares of this treasury stock for $8,500. Prepare the May 3 and November 4 journal entries to record Zirbal's purchase and reissuance of treasury stock. View transaction list Journal entry worksheet 1 Record the purchase of 4,000 shares of its own stock for $36,000 cash. Note: Enter debits Date General Journal Debit Credit May 03
On May 3, Zirbal Corporation purchased 5,000 shares of its own stock for $45,000 cash. On November 4, Zirbal reissued 850 shares of this treasury stock for $8,500. Prepare the May 3 and November 4 journal entries to record Zirbal's purchase and reissuance of treasury stock. View transaction list Journal entry worksheet 1 2 Record the purchase of 5,000 shares of its own stock for $45,000 cash.
On May 3, Zirbal Corporation purchased 6,000 shares of its own stock for $66,000 cash. On November 4, Zirbal reissued 950 shares of this treasury stock for $11,400. Prepare the May 3 and November 4 journal entries to record Zirbal's purchase and reissuance of treasury stock. Record the purchase of 6,000 shares of its own stock for $66,000 cash. Record the reissue of 950 shares of this treasury stock for $11,400.
On April 2, 20x5, Jedi Nights, Inc., a hotel under the management of Skywalker Enterprises purchased 4,500 shares of its own stock for $36,000 cash. On October 3, of the same year Jedi Nights reissued 800 shares of this treasury stock for $7,200. What are Jedi's journal entries on April 2 and October 3 to record the purchase and reissuance of treasury stock? View transaction list Journal entry worksheet < 1 Record Jedi's purchase of 4,500 shares of its own stock for $36,000 cash. Date Apr 02 2 Note: Enter debits before credits. Record entry General Journal Clear entry Debit Credit View general journal
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Required information [The following information applies to the questions displayed below.] The following selected transactions occurred for Corner Corporation: Feb. 1 Purchased 510 shares of the company's own common stock at $31 cash per share; the stock is now held in treasury. July 15 Issued 155 of the shares purchased on February 1 for $41 cash per share. Sept. 1 Issued 115 more of the shares purchased on February 1 for $26 cash per share. 3. What impact does the purchase of treasury stock have on dividends paid? Dividends paid on treasury stock.Therefore, the total amount of paid is hen treasury stock is purchased.
On May 3, Zirbal Corporation purchased 5,500 shares of its own stock for $49,500 cash. On November 4, Zirbal reissued 1,450 shares of this treasury stock for $14,500. Prepare the May 3 and November 4 journal entries to record Zirbal’s purchase and reissuance of treasury stock.
Prepare general journal entries to record these transactions. Fido Corporation engaged in the following transactions involving treasury stock: a)Jan. 10 Purchased for cash 15,000 share of treasury stock at a price of $20 per share. Date Debit Credit Db Cr b)July. 5 Reissued 4,500 shares of treasury stock at a price of $25 per share. Date Debit Credit Db Cr c)Nov. 12 Reissued 5,500 shares of treasury stock at a price of $17 per share Date Debit Credit Db Cr
1. Record, in journal entry form, the following transactions, assuming the company plans on holding the investments for trading purposes: April 16 - Purchased 300 shares of Ameco for $25 per share. • May 2 - Purchased 1,000 shares of Rattle Inc. for $12.50 per share. • June 19 - Sold 100 Ameco shares for $32.75 per share. • October 7 - Purchased 550 shares of BMC for $27.80 per share. • November 30 - Received a dividend of $0.25 per share from Rattle. • December 12 - Sold half the shares in BMC for $21.00 per share. 2. Record any required journal entries on December 31, the company's year-end.

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