ritz Inc. had no treasury stock at the beginning of the year. During February, Fritz purchased 13,200 shares of treasury stock at $31 per share. In May, Fritz sold 5,500 of the treasury shares for $35 per share. In November, Fritz sold the remaining treasury shares for $22 per share. Required: Prepare journal entries for the February, May, and November treasury stock transactions. If an amount box does not require an entry, leave it blank. Feb. - Select - - Select - - Select - - Select - May - Select - - Select - - Select - - Select - - Select - - Select - Nov. - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select -

ritz Inc. had no treasury stock at the beginning of the year. During February, Fritz purchased 13,200 shares of treasury stock at $31 per share. In May, Fritz sold 5,500 of the treasury shares for $35 per share. In November, Fritz sold the remaining treasury shares for $22 per share. Required: Prepare journal entries for the February, May, and November treasury stock transactions. If an amount box does not require an entry, leave it blank. Feb. - Select - - Select - - Select - - Select - May - Select - - Select - - Select - - Select - - Select - - Select - Nov. - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select -

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter10: Stockholder's Equity

Section: Chapter Questions

Problem 65E: Treasury Stock Transactions Garrett Inc. had no treasury stock at the beginning of the year. During...

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Treasury Stock Transactions Garrett Inc. had no treasury stock at the beginning of the year. During February, Garrett purchased 12,600 shares of treasury stock at $23 per share. In May, Garrett sold 4,500 of the treasury shares for $25 per share. In November, Garrett sold the remaining treasury shares for $18 per share. Required: Prepare journal entries for the February, May, and November treasury stock transactions.
Entries for Treasury Stock On May 27, Let Loose Inc. reacquired 3,800 shares of its common stock at $46 per share. On August 3, Let Loose sold 2,100 of the reacquired shares at $49 per share. November 14, Let Loose sold the remaining shares at $45 per share. Journalize the transactions of May 27, August 3, and November 14. For a compound transaction, if an amount box does not require an entry, leave it blank. cash/common stock/paid in from sale of treasury stock/paid in capital in excess of par/treasury stock/preferred stock/accounts receivable/retained earnings/ May 27 Aug. 3 Nov. 14
Entries for Treasury Stock On May 27, Kick Off Inc. reacquired 5,800 shares of its common stock at $48 per share. On August 3, Kick Off sold 3,200 of the reacquired shares at $51 per share. On November 14, Kick Off sold the remaining shares at $47 per share. Journalize the transactions of May 27, August 3, and November 14. If an amount box does not require an entry, leave it blank. May 27 dropdown Aug. 3 Nov. 14
Entries for Treasury Stock On May 27, Idress Clothing Inc. reacquired 64,000 shares of its common stock at $12 per share. On August 3, Idress Clothing sold 41,000 of the reacquired shares at $17 per share. On November 14, Idress Clothing sold the remaining shares at $9 per share. Journalize the transactions of May 27, August 3, and November 14. If an amount box does not require an entry, leave it blank. 88 May 27 Aug. 3 OC Nov. 14 □ㄈ OC
Entries for Treasury Stock On May 27, Idress Clothing Inc. reacquired 64,000 shares of its common stock at $12 per share. On August 3, Idress Clothing sold 41,000 of the reacquired shares at $17 per share. On November 14, Idress Clothing sold the remaining shares at $9 per share. Journalize the transactions of May 27, August 3, and November 14. If an amount box does not require an entry, leave it blank. May 27 Treasury Stock Cash Aug. 3 Cash Treasury Stock ~ Paid-In Capital from Sale of Treasury Stock ~ Nov. 14 Cash Paid-In Capital from Sale of Treasury Stock ~ Treasury Stock ~
Entries for Treasury Stock On May 27, Let Loose Inc. reacquired 78,000 shares of its common stock at $9 per share. On August 3, Let Loose sold 53,000 of the reacquired shares at $12 per share. On November 14, Let Loose sold the remaining shares at $7 per share. Journalize the transactions of May 27, August 3, and November 14. If an amount box does not require an entry, leave it blank. May 27 Aug. 3 Nov. 14
Entries for Treasury Stock On May 27, Buzz Off Inc. reacquired 79,000 shares of its common stock at $8 per share. On August 3, Buzz Off sold 53,000 of the reacquired shares at $11 per share. On November 14, Buzz Off sold the remaining shares at $6 per share. Journalize the transactions of May 27, August 3, and November 14. If an amount box does not require an entry, leave it blank. May 27 Treasury Stock fill in the blank 2 fill in the blank 3 Cash fill in the blank 5 fill in the blank 6 Aug. 3 Cash fill in the blank 8 fill in the blank 9 Treasury Stock fill in the blank 11 fill in the blank 12 Paid-In Capital from Sale of Treasury Stock fill in the blank 14 fill in the blank 15 Nov. 14 Cash fill in the blank 17 fill in the blank 18 Paid-In Capital from Sale of Treasury Stock fill in the blank 20 fill in the blank 21 Treasury Stock fill in the blank 23 fill in the blank 24
Entries for treasury stock On May 27, Hydro Clothing Inc. reacquired 60,000 shares of its common stock at $8 per share. On August 3, Hydro Clothing sold 42,000 of the reacquired shares at $12 per share. On November 14, Hydro Clothing sold the remaining shares at $6 per share. Journalize the transactions of May 27, August 3, and November 14. If an amount box does not require an entry, leave it blank.
On July 1, Pharoah Company purchases 590 shares of its $5 par value common stock for the treasury at a cash price of $9 per share. On September 1, it sells 350 shares of the treasury stock for cash at $13 per share. Journalize the two treasury stock transactions. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit >
On July 1, Raney Corporation purchases 500 shares of its $5 par value common stock for the treasury at a cash price of $9 per share. On September 1, it sells 300 shares of the treasury stock for cash at $11 per share.Journalize the two treasury stock transactions. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
Accounting for Treasury Stock On August 19, Portland Corporation repurchases 6,800 shares of its outstanding common stock for $14 per share. On October 31, Portland sells 3,400 shares of treasury stock for $15 per share. Any additional sales of treasury stock during the year were sold for $11 per share. On December 31, Portland had no remaining treasury stock Required: Prepare the necessary journal entries to record any transactions associated with treasury stock. If an amount box does not require an entry, leave it blank Aug. 19 Treasury Stock Oct. 31 Dinasure Stock Addition ut in Contestreasury Mack Nov. 17 Sash Additional Paudain Capte bireamery Stock Belained Farming TERSUCY Shap 0000 000 00 0000 000 00
Ise Entries for Treasury Stock On May 27, Buzz Off Inc. reacquired 4,600 shares of its common stock at $19 per share. On August 3, Buzz Off sold 2,800 of the reacquired shares at $22 per share. November 14, Buzz Off sold the remaining shares at $18 per share. Journalize the transactions of May 27, August 3, and November 14. For a compound transaction, if an amount box does not require an entry, leave it blank. May 27 Aug. 3

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