I want answer of general finance Determine the effect (cash receipt or cash payment,and the amount) of the following transaction on cashflows: Purchased 6,300 shares of $40 par commonstock as treasury stock at $74 per share.

Explanation of Treasury Stock:Treasury stock refers to shares that a company has repurchased from…

Answered: Determine the effect (cash receipt or…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter15: Statement Of Cash Flows

Section: Chapter Questions

Problem 11E

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Determine the effect (cash receipt or cash payment, and the amount) of the following transaction on cash flows: Purchased 6,300 shares of $40 par common stock as treasury stock at $74 per share.
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If 800 shares of $40 par common stock are sold for $43,000, the $43,000 would be reported in the Cash flows from financing activities section of the statement of cash flows.a. Trueb. False
Prepare the journal entry to record Zende Company's issuance of 79,000 shares of $8 par value common stock assuming the shares sell for: a. $8 cash per share. b. $9 cash per share. View transaction list Journal entry worksheet
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Beacon Corporation issued a 8 percent stock dividend on 35,000 shares of its $7 par common stock. At the time of the dividend, the market value of the stock was $30 per share. Required a. Compute the amount of the stock dividend. b. Show the effects of the stock dividend on the financial statements using a horizontal statements model. In the Cash Flow column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA). If an element was not affected by the event, leave the cell blank. Complete this question by entering your answers in the tabs below. Required A Required B Show the effects of the stock dividend on the financial statements using a horizontal statements model. In the Cash Flow column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA). If an element was not affected by the event, leave the cell blank. (Enter any decreases to account balances with a minus sign.)…
Beacon Corporation issueda 4 percent stock dividend on 37,000 shares of its $8 par common stock. At the time of the dividend, the market value of the stock was S28 per share. Required a. Compute the amount of the stock dividend. b. Show the effects of the stock dividend on the financial statements using a horizontal statements model. In the Cash Flow column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA). If an element was not affected by the event, leave the cell blank. Complete this question by entering your answers in the tabs below. Required A Required B Compute the amount of the stock dividend. Stock dividend Required B > Prev 18 of 20 Next >
The accumulated profit account of One San Miguel Co, follows: Date Item Debit Credit 07/01/2020 Balance 48,500.00 08/31/2020 Dividends paid 12/31/2020 Net income for the year 20,000.00 32,400.00 04/01/2021 Premium on capital share 06/30/2021 Gain on treasury share 15,000.00 10,000.00 09/30/2021 Dividends declared 30,000.00 12/31/2021 Net Income for the year 45,100.00 Appraisal increase of land 30,000.00 Balance 131,000.00 181,000.00 181,000.00 What is the correct balance of Accumulated Profits on December 31, 2021?
What is included in the journal entry to record the repurchase of 300 common shares to hold them in treasury? Assume the average issue price of the outstanding shares is $10. a. A debit to Cash for $3,000 b. A credit to Treasury Shares for $3,000 C. A debit to Common Shares for $300 d. A debit to Common Shares for $3,000
how toRecord paid cash dividends to stockholders for $22,500.00
Prepare the journal entry to record Jevonte Company's issuance of 36,000 shares of its common stock assuming the shares have a: a. $4 par value and sell for $14 cash per share. b. $4 stated value and sell for $14 cash per share. View transaction list Journal entry worksheet 1 Record the issuance of 36,000 shares of common stock assuming the shares have a $4 par value and sell for $14 cash per share. 2 Note: Enter debits before credits. Transaction a. Record entry General Journal Clear entry Debit Credit View general journal
Prepare the journal entry to record Jevonte Company's issuance of 38,000 shares of its common stock assuming the shares have a: a. $3 par value and sell for $16 cash per share. b. $3 stated value and sell for $16 cash per share. View transaction list Journal entry worksheet 1 Record the issuance of 38,000 shares of common stock assuming the shares have a $3 par value and sell for $16 cash per share. 2 Note: Enter debits before credits. Transaction a. General Journal Debit Credit >

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Determine the effect (cash receipt or cash payment, and the amount) of the following transaction on cash flows: Purchased 6,300 shares of $40 par common stock as treasury stock at $74 per share.