On May 3, Zirbal Corporation purchased 4,500 shares of its own stock for $31,500 cash. On November 4, Zirbal reissued1,350 shares of this treasury stock for $10,800.Prepare the May 3 and November 4 journal entries to record Zirbal's purchase and reissuance of treasury stock.View transaction listJournal entry worksheet<12Record the purchase of 4,500 shares of its own stock for $31,500 cash.Note: Enter debits before credits.DateMay 03General JournalDebitCredit>

Buy back of share means buying our own share from the open marked, these share are technically…

Answered: On May 3, Zirbal Corporation purchased…

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter15: Investments And Fair Value Accounting

Section: Chapter Questions

Problem 3PA

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On May 3, Zirbal Corporation purchased 7,500 shares of its own stock for $67,500 cash. On November 4, Zirbal reissued 1,650 shares of this treasury stock for $16,500. Prepare the May 3 and November 4 journal entries to record Zirbal's purchase and reissuance of treasury stock. View transaction list Journal entry worksheet 1 2 Record the purchase of 7,500 shares of its own stock for $67,500 cash. Note: Enter debits before credits. Date May 03 General Journal Debit Credit <
On May 3, Zirbal Corporation purchased 8,500 shares of its own stock for $93,500 cash. On November 4, Zirbal reissued 1,750 sha of this treasury stock for $21,000. Prepare the May 3 and November 4 journal entries to record Zirbal's purchase and reissuance of treasury stock. View transaction list Journal entry worksheet < 1 2 Record the purchase of 8,500 shares of its own stock for $93,500 cash. Note: Enter debits before credits. Date May 03 Record entry General Journal Clear entry Debit Credit View general journal
On May 3, Zirbal Corporation purchased 8,500 shares of its own stock for $93,500 cash. On November 4, Zirbal reissued 1,750 shares of this treasury stock for $21,000. Prepare the May 3 and November 4 journal entries to record Zirbal's purchase and reissuance of treasury stock. View transaction list Journal entry worksheet < 1 2 Record the purchase of 8,500 shares of its own stock for $93,500 cash. Note: Enter debits before credits. Date May 03 Record entry General Journal Clear entry Debit Credit View general journal
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On May 3, Zirbal Corporation purchased 4,000 shares of its own stock for $36,000 cash. On November 4, Zirbal reissued 850 shares of this treasury stock for $8,500. Prepare the May 3 and November 4 journal entries to record Zirbal's purchase and reissuance of treasury stock. View transaction list Journal entry worksheet 1 Record the purchase of 4,000 shares of its own stock for $36,000 cash. Note: Enter debits Date General Journal Debit Credit May 03
On May 3, Zirbal Corporation purchased 6,000 shares of its own stock for $66,000 cash. On November 4, Zirbal reissued 950 shares of this treasury stock for $11,400. Prepare the May 3 and November 4 journal entries to record Zirbal's purchase and reissuance of treasury stock. Record the purchase of 6,000 shares of its own stock for $66,000 cash. Record the reissue of 950 shares of this treasury stock for $11,400.
On April 2, 20x5, Jedi Nights, Inc., a hotel under the management of Skywalker Enterprises purchased 4,500 shares of its own stock for $36,000 cash. On October 3, of the same year Jedi Nights reissued 800 shares of this treasury stock for $7,200. What are Jedi's journal entries on April 2 and October 3 to record the purchase and reissuance of treasury stock? View transaction list Journal entry worksheet < 1 Record Jedi's purchase of 4,500 shares of its own stock for $36,000 cash. Date Apr 02 2 Note: Enter debits before credits. Record entry General Journal Clear entry Debit Credit View general journal
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The following selected transactions occurred for Corner Corporation: Feb. 1 Purchased 450 shares of the company’s own common stock at $25 cash per share; the stock is now held in treasury. July 15 Issued 125 of the shares purchased on February 1 for $35 cash per share. Sept. 1 Issued 85 more of the shares purchased on February 1 for $20 cash per share. E11-8 Part 2 Prepare journal entries for each of the transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

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