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- Seaside Amusements Corporation had the following stockholders' equity on November 30: (Click the icon to view the stockholders' equity.) On December 30, Seaside purchased 100 shares of treasury stock at $14 per share. Read the requirements. Requirement 1. Journalize the purchase of the treasury stock. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Credit Dec. 30 Requirements 1. Journalize the purchase of the treasury stock. 2. Prepare the stockholders' equity section of the balance sheet at December 31, 2024. Assume the balance in retained earnings is unchanged from November 30. Debit 3. How many shares of common stock are outstanding after the purchase of treasury stock? Print Done C Data table Stockholders' Equity Paid-In Capital: Common Stock-$5 Par Value; 1,300 shares authorized, 120 shares issued and outstanding Paid-In Capital in Excess of Par-Common Total Paid-In Capital Retained Earnings…Subject - account Please help me. Thankyou.On July 1, Culver Corporation purchases 500 shares of its $5 par value common stock for the treasury at a cash price of $10 per share. On September 1, it sells 250 shares of the treasury stock for cash at $12 per share. Journalize the two treasury stock transactions. (List all debit entries before credit entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date > Account Titles and Explanation Debit Credit
- Entries for Treasury Stock On May 27, Buzz Off Inc. reacquired 79,000 shares of its common stock at $8 per share. On August 3, Buzz Off sold 53,000 of the reacquired shares at $11 per share. On November 14, Buzz Off sold the remaining shares at $6 per share. Journalize the transactions of May 27, August 3, and November 14. If an amount box does not require an entry, leave it blank. May 27 Treasury Stock fill in the blank 2 fill in the blank 3 Cash fill in the blank 5 fill in the blank 6 Aug. 3 Cash fill in the blank 8 fill in the blank 9 Treasury Stock fill in the blank 11 fill in the blank 12 Paid-In Capital from Sale of Treasury Stock fill in the blank 14 fill in the blank 15 Nov. 14 Cash fill in the blank 17 fill in the blank 18 Paid-In Capital from Sale of Treasury Stock fill in the blank 20 fill in the blank 21 Treasury Stock fill in the blank 23 fill in the blank 24On 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 June 8, Pharoah Ltd. was incorporated and issued 33,600 common shares for $336,000. On August 19, an additional 8,400 shares were issued for $100,800. On November 2, the company paid $32.256 to repurchase 3,360 common shares and on December 7 it paid $58.240 to repurchase 4,480 common shares. (a) Your answer is correct. Calculate the average cost of the common shares on places, ag. 15.25.) June 8 Aug 19 Nov. 2 Dec. 7 $ $ 5 $ Average Cost 10 10.40 10.40 10.40 hares on June 8, August 19. November 2, and December 7. (Round arewers to 2 decimal
- On March 1, Newt Corp. had 60,000 shares of common stock authorized and 20,000 shares of $2 par common stock issued and outstanding when it declared a $.40 (forty cents) per share dividend to be paid on March 31. Use the drop-down menu to complete each of the following sentences: A. The journal entry on March 1 should have a debit to for $ and a credit to for $ B. The journal entry on March 31 should have a debit to for $ and a credit to for $January 1: Walgreens reacquires 2,400 shares of its $18 par value Common Stock for $79 per share.March 5: Walgreens reissues 1,200 of the above-mentioned shares for $90 per share. Using the above information, the journal entry to record the March 5th transaction will be: Select one: a. Debit Credit Cash 108,000 Treasury Stock 108,000 b. Debit Credit Cash 108,000 Treasury Stock 94,800 APIC – TS 13,200 c. Debit Credit Cash 108,000 Treasury Stock 21,600 APIC – TS 86,400 d. Debit Credit Cash 108,000 Treasury Stock 94,800 Gain on Sale of TS 13,200 e. Debit Credit Cash 108,000 Treasury Stock 94,800 Investment Income 13,200On May 10, Ayayai Corp. issues 1,000 shares of $4 par value common stock for cash at $11 per share. Journalize the issuance of the stock. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit May 10
- Surfer Girl Clothing Company issues 1,000 shares of $1 par value common stock at $25 per share. Later in the year, the company decides to purchase 100 shares at a cost of $28 per share. Determine the financial statement effects of the purchase of treasury stock. (Amounts to be deducted should be entered with minus sign.)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.Please answer question correctly
