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2. The following information is provided by the LG Group of Companies. $900,000 $200,000 $1,100,000 Ordinary Shares, 20,000 shares at par Excess of issue price over par Total a. Determine the par value of the ordinary stock. b. Determine the market value of the ordinary stock. c. The company purchased 1,700 shares of treasury stock from Chedrol Co at $65 each. Prepare the journal entry to record the purchase of treasury stock. Date Details F DR CR d. The company sold 1,000 of treasury stock to Lincoln Industries for $75 each. Prepare the journal entry to record the sale of treasury stock. Date Details F DR CR e. The company sold 300 treasury stocks for $50 each. Prepare the journal entry to record the sale of treasury stock. Date DR Details F CR f. The company sold 200 treasury stocks for $65 each. Prepare the journal entry to record the sale of treasury stock. Date Details F DR CR

2. The following information is provided by the LG Group of Companies. $900,000 $200,000 $1,100,000 Ordinary Shares, 20,000 shares at par Excess of issue price over par Total a. Determine the par value of the ordinary stock. b. Determine the market value of the ordinary stock. c. The company purchased 1,700 shares of treasury stock from Chedrol Co at $65 each. Prepare the journal entry to record the purchase of treasury stock. Date Details F DR CR d. The company sold 1,000 of treasury stock to Lincoln Industries for $75 each. Prepare the journal entry to record the sale of treasury stock. Date Details F DR CR e. The company sold 300 treasury stocks for $50 each. Prepare the journal entry to record the sale of treasury stock. Date DR Details F CR f. The company sold 200 treasury stocks for $65 each. Prepare the journal entry to record the sale of treasury stock. Date Details F DR CR

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
22nd Edition
ISBN:9781305666160
Author:James A. Heintz, Robert W. Parry
Publisher:James A. Heintz, Robert W. Parry
Chapter20: Corporations: Organization And Capital Stock
Section: Chapter Questions
Problem 1MP: Stockholders equity accounts and other related accounts of Gonzales Company as of January 1, 20--,...
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can u please help with D, E and f

2. The following information is provided by the LG Group of Companies. Ordinary Shares, 20,000 shares at par Excess of issue price over par Total $900,000 $200,000 $1,100,000 a. Determine the par value of the ordinary stock. b. Determine the market value of the ordinary stock. c. The company purchased 1,700 shares of treasury stock from Chedrol Co at $65 each. Prepare the journal entry to record the purchase of treasury stock. Date Details F DR CR d. The company sold 1,000 of treasury stock to Lincoln Industries for $75 each. Prepare the journal entry to record the sale of treasury stock. Date Details F DR CR The sold 300 treasury stocks for $50 each. Prepare the journal entry to record the sale of treasury stock. e. company Date Details F DR CR f. The company sold 200 treasury stocks for $65 each. Prepare the journal entry to record the sale of treasury stock. Date Details DR CR
Transcribed Image Text:2. The following information is provided by the LG Group of Companies. Ordinary Shares, 20,000 shares at par Excess of issue price over par Total $900,000 $200,000 $1,100,000 a. Determine the par value of the ordinary stock. b. Determine the market value of the ordinary stock. c. The company purchased 1,700 shares of treasury stock from Chedrol Co at $65 each. Prepare the journal entry to record the purchase of treasury stock. Date Details F DR CR d. The company sold 1,000 of treasury stock to Lincoln Industries for $75 each. Prepare the journal entry to record the sale of treasury stock. Date Details F DR CR The sold 300 treasury stocks for $50 each. Prepare the journal entry to record the sale of treasury stock. e. company Date Details F DR CR f. The company sold 200 treasury stocks for $65 each. Prepare the journal entry to record the sale of treasury stock. Date Details DR CR
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