Financial Accounting, Student Value Edition (4th Edition)
4th Edition
ISBN: 9780134114811
Author: Robert Kemp, Jeffrey Waybright
Publisher: PEARSON
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Chapter 11, Problem 9DQ
To determine
Show the sale of
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Treasury Stock Transactions
SprayCo Inc. develops and produces spraying equipment for lawn maintenance and industrial uses.
On March 9 of the current year, SprayCo reacquired 10,400 shares of its common stock at $33 per
share. On June 9, 6,600 of the reacquired shares were sold at $35 per share, and on November 13,
2,500 of the reacquired shares were sold at $38.
a. Journalize the transactions of March 9, June 9, and November 13. If an amount box does not
require an entry, leave it blank.
Mar. 9
June 9
Nov. 13
b. What is the balance in Paid-In Capital from Sale of Treasury Stock on December 31 of the
current year?
%24
The retirement of long-term debt by the issuance of common stock should be presented in a statement of cash shows as a:
1. How is the exchange of common stock for long-term term debt shown on the SCF?
2. How does the sum of the cashflow from the three major classifications on the scf relate to the change in balance sheet accounts from two successive balance sheets?
Chapter 11 Solutions
Financial Accounting, Student Value Edition (4th Edition)
Ch. 11 - Prob. 1DQCh. 11 - Prob. 2DQCh. 11 - Prob. 3DQCh. 11 - A company issued bonds during the year. Would this...Ch. 11 - Prob. 5DQCh. 11 - When using the indirect method, why are gains on...Ch. 11 - Prob. 7DQCh. 11 - Prob. 8DQCh. 11 - Prob. 9DQCh. 11 - Prob. 10DQ
Ch. 11 - Prob. 1SCCh. 11 - Operating activities are most closely related to:...Ch. 11 - Prob. 3SCCh. 11 - Prob. 4SCCh. 11 - Finlay, Inc., earned net income of 63,000 after...Ch. 11 - Prob. 6SCCh. 11 - Prob. 7SCCh. 11 - Prob. 8SCCh. 11 - Prob. 9SCCh. 11 - Elliot Enterprises had operating expenses of...Ch. 11 - Prob. 11SCCh. 11 - Prob. 12SCCh. 11 - Prob. 1SECh. 11 - Prob. 2SECh. 11 - Prob. 3SECh. 11 - Prob. 4SECh. 11 - Prob. 5SECh. 11 - Prob. 6SECh. 11 - Prob. 7SECh. 11 - Prob. 8SECh. 11 - Prob. 9SECh. 11 - Prob. 10SECh. 11 - Prob. 11SECh. 11 - Prob. 12SECh. 11 - Prob. 13AECh. 11 - Prob. 14AECh. 11 - Prob. 15AECh. 11 - Prob. 16AECh. 11 - Prob. 17AECh. 11 - Prob. 18AECh. 11 - Prob. 19AECh. 11 - Prob. 20AECh. 11 - Prob. 21AECh. 11 - Prob. 22BECh. 11 - Prob. 23BECh. 11 - Prob. 24BECh. 11 - Prob. 25BECh. 11 - Prob. 26BECh. 11 - Prob. 27BECh. 11 - Prob. 28BECh. 11 - Prob. 29BECh. 11 - Prob. 30BECh. 11 - Prob. 31APCh. 11 - Prob. 32APCh. 11 - Prob. 33APCh. 11 - Prob. 34APCh. 11 - Prob. 35APCh. 11 - Prob. 36APCh. 11 - Prob. 37BPCh. 11 - Prob. 38BPCh. 11 - Prob. 39BPCh. 11 - Prob. 40BPCh. 11 - Prob. 41BPCh. 11 - Prob. 42BPCh. 11 - Prob. 1CECh. 11 - Prob. 1CPCh. 11 - Apply Your Knowledge Ethics In Action Case 1....Ch. 11 - Case 2. Kevin Sailors, the CEO of Candle...Ch. 11 - Financial Analysis Purpose: To help to familiarize...Ch. 11 - Prob. 1IACh. 11 - Small Business Analysis Purpose: To help you...Ch. 11 - Prob. 1WCCh. 11 - Prob. 1COP
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- Do you add or subtract total retained earnings with paid in capital when accounting stock?arrow_forwardWhat do the following data, taken from a comparative balance sheet, indicate about the companys ability to borrow additional long-term debt in the current year as compared to the preceding year?arrow_forwardStock subscriptions receivable are listed as __________ on the balance sheet. (a) current liabilities (b) current assets (c) long-term assets (d) contra-stockholders equityarrow_forward
- What is the balance of the share capital as of year-end?arrow_forwardHow is treasury stock reported on the balance sheet? Howis the “gain or loss” on reissued treasury stock reported onthe financial statements?arrow_forwardFlowserve converted bonds to common stock. What section in he cash flow statement would this transaction be locatedarrow_forward
- Describe the event of “stock dividend” in terms of cash flows and accounting entries to the Balance Sheet accounts.arrow_forwardDescribe the cash flow and balance sheet account entries for the "stock dividend" occurrence.arrow_forwardIf $1488000 of bonds are issued during the year but $3100000 of old bonds are retired during the year, the statement of cash flows will show a(n)arrow_forward
- How is treasury stock reported on the balance sheet? Select one: Investment Contra asset Current asset Reduction of stockholders' equityarrow_forwardQuiz Question Please tell me what statement or statments End-of-period Retained Earnings Balance is on: Options: Income Statement Balance Sheet Statement of Cash Flows Statement of Retained Earningsarrow_forwardHow should a "gain" from the sale of treasury stock be reflected when using the cost method of recording treasury stock transactions? Choices; As ordinary earnings shown on the income statement. As an increase in the amount shown for common stock. As treasury shares premium As an extraordinary item shown on the income statement.arrow_forward
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