None Exercise 18-11 (Algo) Retirement of shares [LO18-5]In 2024, Borland Semiconductors entered into the transactions described below. In 2021, Borland had issued 180 million shares of its$1 par common stock at $32 per share.Required:Assuming that Borland retires shares it reacquires, record the appropriate journal entry for each of the following transactions:Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answersin millions (i.e., 10,000,000 should be entered as 10).1. On January 2, 2024, Borland reacquired 10 million shares at $30.50 per share.2. On March 3, 2024, Borland reacquired 10 million shares at $34 per share.3. On August 13, 2024, Borland sold 1 million shares at $40 per share.4. On December 15, 2024, Borland sold 2 million shares at $34 per share.

Step 1:1. The journal entry to record the shares reacquired at $30.50 per share is as follows:…

Answered: Exercise 18-11 (Algo) Retirement of…

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter13: Investments And Long-term Receivables

Section: Chapter Questions

Problem 13RE

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In 2021, Borland Semiconductors entered into the transactions described below. In 2018, Borland had issued 210 million shares of its $1 par common stock at $45 per share. Required: Assuming the Borland retires shares it reacquires, record the appropriate journal entry for each of the following transactions: (if no entry is required for a transaction/event, select “No journal entry required” in the first account field. Enter your answers in millions (1.e., 10,000,000 should be entered as 10).) On January 2, 2021, Borland reacquired 10 million shares at $43.50 per share. On March 3, 2021, Borland reacquired 10 million shares at $47 per share. On August 13, 2021, Borland sold 1 million shares at $53 per share. On December 15, 2021, Borland sold 2 million shares at $47 per share. Journal entry worksheet Record the reacquisition of 10 million shares at $43.50 per share. Record the reacquisition of 10 million shares at $47 per share. Record the sale of 1 million shares at $53 per share.…
In 2021, Borland Semiconductors entered into the transactions described below. In 2018, Borland had issued 190 million shares of its $1 par common stock at $36 per share. Required:Assuming that Borland retires shares it reacquires, record the appropriate journal entry for each of the following transactions: (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) On January 2, 2021, Borland reacquired 12 million shares at $34.50 per share. On March 3, 2021, Borland reacquired 12 million shares at $38 per share. On August 13, 2021, Borland sold 1 million shares at $44 per share. On December 15, 2021, Borland sold 2 million shares at $38 per share.
In 2021, Borland Semiconductors entered into the transactions described below. In 2018, Borland had issued 165 million shares of its $1 par common stock at $27 per share. Required: Assuming that Borland retires shares it reacquires, record the appropriate journal entry for each of the following transactions: (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) 1. On January 2, 2021, Borland reacquired 12 million shares at $25.50 per share. 2. On March 3, 2021, Borland reacquired 12 million shares at $29 per share. 3. On August 13, 2021, Borland sold 1 million shares at $35 per share. 4. On December 15, 2021, Borland sold 2 million shares at $29 per share. View transaction list Journal entry worksheet 1 2 3 Record the reacquisition of 12 million shares at $25.50 per share.
In 2024, Borland Semiconductors entered into the transactions described below. In 2021, Borland had issued 180 million shares of its $1 par common stock at $32 per share. Required: Assuming that Borland retires shares it reacquires, record the appropriate journal entry for each of the following transactions: Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10). On January 2, 2024, Borland reacquired 10 million shares at $30.50 per share. On March 3, 2024, Borland reacquired 10 million shares at $34 per share. On August 13, 2024, Borland sold 1 million shares at $40 per share. On December 15, 2024, Borland sold 2 million shares at $34 per share. Please avoid answers in image format thak you
In 2024, Borland Semiconductors entered into the transactions described below. In 2021, Borland had issued 150 million shares of its $1 par common stock at $42 per share. Required: Assuming that Borland retires shares it reacquires, record the appropriate journal entry for each of the following transactions: Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10). On January 2, 2024, Borland reacquired 9 million shares at $41.00 per share. On March 3, 2024, Borland reacquired 9 million shares at $44 per share. On August 13, 2024, Borland sold 1 million shares at $50 per share. On December 15, 2024, Borland sold 2 million shares at $44 per share.
Kk.413.
H1. Account
Hh.81.
Problem One: Prepare proper journal entries for these transactions for Batman Industries Inc. The following activities regarding share subscriptions occurred during 2020 for Batman Industries Inc. July 1- Sold 1,000 subscriptions for common shares at $20 per share. Subscribers paid $5 per share on this date; $5 more per share is due on September 1. Subscribers who fail to make the second payment on September 1 get their deposit refunded. The final payment of the balance of $10 per share is due on December 1. Subscribers who fail to make the final payment forfeit the $10 per share they have paid. September 1 – 900 of the subscribed shares first payment were made. 100 were not made and qualified for the refund. Record the payments received and the refund made. December 1 – 800 final payments were received, 100 more did not make the payment and forfeited their first two payments. Record the payments received, the common shares issued, and the payments forfeited.
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In 2019, Jed Incorporated issued 75,000 shares of P10 par value for P100 per share. In 2020, the entity reacquired 3,000 shares at P150 per share and immediately cancelled these 3,000 shares. In relation with the retirement of shares, what amount should be debited to share premium and retained earnings respectively? A. P30,000 and P420,000 B. P150,000 and P270,000 C. P270,000 and P150,000 D. P420,000 and 0

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