Journalize the transactions of February14, March 5, and June 2.
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On February 14, Marine Company reacquired 7,500 shares of its common stock at $30 per share. On March 15, Marine sold 4,500 of the reacquired shares at $34 per share. On June 2, Marine sold the remaining shares at $28 per share. Required:
Journalize the transactions of February14, March 5, and June 2.
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- Biscayne Bay Water Inc. bottles and distributes spring water. On May 14 of the current year, Biscayne Bay Water Inc. reacquired 2,700 shares of its common stock at $53 per share. On September 6, Biscayne Bay Water Inc. sold 2,100 of the reacquired shares at $57 per share. The remaining 600 shares were sold at $50 per share on November 30. a. Journalize the transactions of May 14, September 6, and November 30. If an amount box does not require an entry, leave it blank. May 14 fill in the blank 5100910d601a073_2 fill in the blank 5100910d601a073_3 fill in the blank 5100910d601a073_5 fill in the blank 5100910d601a073_6 Sept. 6 Cash fill in the blank 5100910d601a073_8 fill in the blank 5100910d601a073_9 fill in the blank 5100910d601a073_11 fill in the blank 5100910d601a073_12 fill in the blank 5100910d601a073_14 fill in the blank 5100910d601a073_15 Nov. 30 fill in the blank 5100910d601a073_17 fill in the blank 5100910d601a073_18 fill in the…Mystic Lake Inc. bottles and distributes spring water. On July 9 of the current year, Mystic Lake reacquired 5,200 shares of its common stock at $77 per share. On September 22, Mystic Lake sold 3,600 of the reacquired shares at $85 per share. The remaining 1,600 shares were sold at $74 per share on November 23. a. Journalize the transactions of July 9, September 22, and November 23. If an amount box does not require an entry, leave it blank. July 9 Treasury Stock fill in the blank 10c23a02efe4076_2 fill in the blank 10c23a02efe4076_3 Cash fill in the blank 10c23a02efe4076_5 fill in the blank 10c23a02efe4076_6 Sept. 22 Cash fill in the blank 10c23a02efe4076_8 fill in the blank 10c23a02efe4076_9 Treasury Stock fill in the blank 10c23a02efe4076_11 fill in the blank 10c23a02efe4076_12 Paid-In Capital from Sale of Treasury Stock fill in the blank 10c23a02efe4076_14 fill in the blank 10c23a02efe4076_15 Nov. 23 Cash fill in the blank 10c23a02efe4076_17 fill in…On February 14, Marine Company reacquired 7,500 shares of its common stock at $30 per share. On March 15, Marine sold 4,500 of the reacquired shares at $34 per share. On June 2, Marine sold the remaining shares at $28 per share. Required: Journalize the transactions of Februaryl4, March 5, and June 2.
- On April 2 a corporation purchased for cash 6,000 shares of its own $13 par common stock at $27 a share. It sold 4,000 of the treasury shares at $30 a share on June 10. The remaining 2,000 shares were sold on November 10 for $23 a share. a. Journalize the entries to record the purchase (treasury stock is recorded at cost). If an amount box does not require an entry, leave it blank b. Journalize the entries to record the sale of the stock. If an amount box does not require an entry, leave it blank.Instructions On January 31, Wilderness Resorts Inc. reacquired 23,900 shares of its common stock at $31 per share. On April 20, Wilderness Resorts sold 14,000 of the reacquired shares at $40 per share. On October 4, Wilderness Resorts sold the remaining shares at $29 per share. Journalize the transactions of January 31, April 20, and October 4. Refer to the Chart of Accounts for exact wording of account titles. Journal JOURNAL DESCRIPTION POST. REF. DEBIT CREDIT 1 2 B DATE ASYard Spray Inc. develops and produces spraying equipment for lawn maintenance and industrial uses. On January 31 of the current year, Yard Spray Ino reacquired 19,700 shares of its common stock at $19 per share. On June 14, 13,400 of the reacquired shares were sold at $25 per share, and on November 23, 5,300 of the reacquired shares were sold at $20. Required: a. Journalize the transactions of January 31, June 14, and November 23. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. c. What is the balance in Paid-In Capital from Sale of Treasury Stock on December 31 of the current year? b. What is the balance in Treasury Stock on December 31 of the current year? d. How will the balance in Treasury Stock be reported on the balance sheet?
- OweMystic Lake Inc. bottles and distributes spring water. On July 9 of the current year, Mystic Lake reacquired 6,000 shares of its common stock at $74 per share. On September 22, Mystic Lake sold 4,200 of the reacquired shares at $80 per share. The remaining 1,800 shares were sold at $71 per share on November 23. a. Journalize the transactions of July 9, September 22, and November 23. If an amount box does not require an entry, leave it blank.On April 2 a corporation purchased for cash 5,000 shares of its own $15 par common stock at $26 a share. It sold 3,000 of the treasury shares at $29 a share on June 10. The remaining 2,000 shares were sold on November 10 for $22 a share. a. Journalize the entries to record the purchase (treasury stock is recorded at cost). If an amount box does not require an entry, leave it blank Apr. 2 b. Journalize the entries to record the sale of the stock. If an amount box does not require an entry, leave it blank. Jun. 10 Nov. 10 M Y ▼ ♥
- Yard Spray Inc. develops and produces spraying equipment for lawn maintenance and industrial uses. On January 31 of the current year, Yard Spray Inc. reacquired 19,600 shares of its common stock at $19 per share. On June 14, 13,700 of the reacquired shares were sold at $25 per share, and on November 23, 4,700 of the reacquired shares were sold at $20. Required: a. Journalize the transactions of January 31, June 14, and November 23. b. What is the balance in Paid-In Capital from Sale of Treasury Stock on December 31 of the current year? What is the balance in Treasury Stock on December 31 of the current year? How will the balance in Treasury Stock be reported on the balance sheet?Mystic Lake Inc. bottles and distributes spring water. On July 9 of the current year, Mystic Lake reacquired 39,300 shares of its common stock The stock outstanding when a corporation has issued only one class of stock. at $42 per share. On September 22, Mystic Lake sold 30,100 of the reacquired shares at $49 per share. The remaining 9,200 shares were sold at $41 per share on November 23. Required: a. Journalize the transactions of July 9, September 22, and November 23. Refer to the Chart of Accounts for exact wording of account titles. b. What is the balance in Paid-In Capital Capital contributed to a corporation by the stockholders and others. from Sale of Treasury Stock on December 31 of the current year? c. For what reasons might Mystic Lake Inc. have purchased the treasury stock? none X Chart of Accounts CHART OF ACCOUNTS Mystic Lake Inc. General Ledger ASSETS 110 Cash 120 Accounts Receivable 131…
