4. Al Musanna LLC Company had the following transactions related to its common stock (OMR1 par value) during the year ended December 31, 2002. Prepare the journal entries using the cost method. June 1 Sold 1,000 shares of treasury stock at $11 per share. Dr. Cash OMR 11,000 Cr. Treasury stock OMR 10,000 Cr. Share premium OMR 1,000 Dr. Cash OMR 10,000 Dr. Common stock OMR 11,000 Cr. Share premium OMR 1,000 Dr. Cash OMR 1,000 Dr. Common stock OMR 11,000 Cr. Share premium OMR 10,000 None of these
4. Al Musanna LLC Company had the following transactions related to its common stock (OMR1 par value) during the year ended December 31, 2002. Prepare the journal entries using the cost method. June 1 Sold 1,000 shares of treasury stock at $11 per share. Dr. Cash OMR 11,000 Cr. Treasury stock OMR 10,000 Cr. Share premium OMR 1,000 Dr. Cash OMR 10,000 Dr. Common stock OMR 11,000 Cr. Share premium OMR 1,000 Dr. Cash OMR 1,000 Dr. Common stock OMR 11,000 Cr. Share premium OMR 10,000 None of these
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter20: Corporations: Organization And Capital Stock
Section: Chapter Questions
Problem 7SPA: STATED VALUE, COMMON AND PREFERRED STOCK, AND NONCASH ASSETS Kris Kraft Stores had the following...
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