Elroy Corporation repurchased 2,300 shares of its own stock for $60 per share. The stock has a par of $15 per share. A month later Elroy resold 575 shares of the treasury stock for $68 per share. Required: What is the balance of the Treasury Stock account after these transactions are recognized?
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- Elroy Corporation repurchased 2,500 shares of its own stock for $30 per share. The stock has a par of $20 per share. A month later, Elroy resold 625 shares of the treasury stock for $38 per share. a. Record the two events in general journal format b. What is the balance of the treasury stock account after these transactions?Elroy Corporation repurchased 2,100 shares of its own stock for $55 per share. The stock has a par of $15 per share. A month later, Elroy resold 525 shares of the treasury stock for $63 per share. Required What is the balance of the Treasury Stock account after these transactions? Balance of treasury stockElroy Corporation repurchased 1,100 shares of its own stock for $55 per share. The stock has a par of $10 per share. A month later Elroy resold 275 shares of the treasury stock for $63 per share. Required What is the balance of the Treasury Stock account after these transactions are recognized? Balance of treasury stock
- Elroy Corporation repurchased 3,400 shares of its own stock for $40 per share. The stock has a par of $15 per share. A month later, Elroy resold 850 shares of the treasury stock for $48 per share. question: What is the balance of the treasury stock account after these transactions?AnswerOn June 10, Starbar Corp. repurchased 1,000 shares of its outstanding common stock for $10 per share. Starbar Corp. then reissued 500 of those shares for $11 per share on July 1. The required journal for July 1 includes what debit(s) and credit(s)? Assume no treasury stock transactions.
- On May 1, Z Company repurchased (bought back) 12,000 shares of its own $2 par common stock as treasury stock at a cost of $10 per share. On September 1, Z Company resold 5,000 shares of its treasury stock when the market prices was $15 per share. What is the ending balance in Treasury Stock? What is the ending balance in in the Paid-In Treasury Stock?McVie Corporation’s stock has a par value of $2. The company has the following transactions during the year: Feb. 28 Issued 350,000 shares at $6 share. Jun. 7 Issued 94,000 shares in exchange for equipment with a clearly determined value of $209,000. Sep. 19 Purchased 2,500 shares of treasury stock at $8 per share. Prepare the journal entries to record the transactions. If an amount box does not require an entry, leave it blank.McVie Corporation's stock has a par value of $2. The company has the following transactions during the year: Feb. Issued 280,000 shares at $5 share. 28 Jun. 7 Issued 94,000 shares in exchange for equipment with a clearly determined value of $205,000. Sep. Purchased 2,400 shares of treasury stock at $7 per share. 19 Prepare the journal entries to record the transactions. If an amount box does not require an entry, leave it blank. Feb. 28 Jun. 7 Sep. 19 Additional Paid-in Capital from Common Stock Building Cash Land Treasury Stock III III II III III II
- McVie Corporation’s stock has a par value of $2. The company has the following transactions during the year: Feb. 28 Issued 330,000 shares at $5 share. Jun. 7 Issued 93,000 shares in exchange for equipment with a clearly determined value of $205,000. Sep. 19 Purchased 2,700 shares of treasury stock at $7 per share. Prepare the journal entries to record the transactions. If an amount box does not require an entry, leave it blank. Feb. 28 fill in the blank 2 fill in the blank 3 fill in the blank 5 fill in the blank 6 fill in the blank 8 fill in the blank 9 Jun. 7 fill in the blank 11 fill in the blank 12 fill in the blank 14 fill in the blank 15 fill in the blank 17 fill in the blank 18 Sep. 19 fill in the blank 20 fill in the blank 21 fill in the blank 23 fill in the blank 24McVie Corporation’s stock has a par value of $2. The company has the following transactions during the year: Feb. 28 Issued 340,000 shares at $4 share. Jun. 7 Issued 95,000 shares in exchange for equipment with a clearly determined value of $206,000. Sep. 19 Purchased 2,100 shares of treasury stock at $6 per share. Prepare the journal entries to record the transactions. If an amount box does not require an entry, leave it blank. Feb. 28 Jun. 7 Sept. 19McVie Corporation's stock has a par value of $2. The company has the following transactions during the year: Feb. 28 Issued 310,000 shares at $5 per share. Jun. 7 Issued 95,000 shares in exchange for equipment with a clearly determined value of $212,000. Sep. 19 Purchased 2,400 shares of treasury stock at $8 per share. Prepare the journal entries to record the transactions. If an amount box does not require an entry, leave it blank. Feb. 28 Jun. 7 Sep. 19