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

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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 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.
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1. Record, in journal entry form, the following transactions, assuming the company plans on holding the investments for trading purposes: April 16 - Purchased 300 shares of Ameco for $25 per share. • May 2 - Purchased 1,000 shares of Rattle Inc. for $12.50 per share. • June 19 - Sold 100 Ameco shares for $32.75 per share. • October 7 - Purchased 550 shares of BMC for $27.80 per share. • November 30 - Received a dividend of $0.25 per share from Rattle. • December 12 - Sold half the shares in BMC for $21.00 per share. 2. Record any required journal entries on December 31, the company's year-end.
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On August 1, Ivanhoe Company buys 2400 shares of Zingo common stock for $75000 cash. On December 1, the stock investments are sold for $86250 in cash. Which of the following are the correct journal entries of record for the purchase and sale of the common stock? Aug. 1 Stock Investments Cash Dec. 1 Cash Stock Investments Gain on Sale of Stock Investments о 75000 75000 86250 75000 11250 Aug. 1 Stock Investments 75000 Cash 75000 Dec. 1 Stock Investments 86250 Cash 72850 Gain on Sale of Stock 11000 Investments Aug. 1 Cash 75000 Stock Investments 75000 Dec. 1 Stock Investments 86250 Cash 75000 Gain on Sale of Stock 11250 Investments Aug. 1 Cash 75000 Stock Investments 75000 Dec. 1 Cash 86250 Stock Investments 75000 Gain on Sale of Stock 11250 Investments
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Foley Co. bought 50 shares of its stock for $8 per share to be held as Treasury Stock. Record this transaction. Edit View Insert Format Tools Table

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