Advance Medical Imaging, Inc. reacquired 2,000 shares of its $5 par common stock at $15 a share. The stock originally sold for $10 a share. Required: a. Prepare the journal entry to record the reacquisition under the 1. cost method 2. par value method b. Prepare the journal entry to record the reissuance of 500 shares at $18 a share under the 1. cost method 2. par value method c. Prepare the journal entry to record the reissuance of 1,000 shares at $12 a share under the 1. cost method 2. par value method d. Prepare the journal entry to record the retirement of the remaining 500 shares under the 1. cost method 2. par value method
Advance Medical Imaging, Inc. reacquired 2,000 shares of its $5 par common stock at $15 a share. The stock originally sold for $10 a share. Required: a. Prepare the journal entry to record the reacquisition under the 1. cost method 2. par value method b. Prepare the journal entry to record the reissuance of 500 shares at $18 a share under the 1. cost method 2. par value method c. Prepare the journal entry to record the reissuance of 1,000 shares at $12 a share under the 1. cost method 2. par value method d. Prepare the journal entry to record the retirement of the remaining 500 shares under the 1. cost method 2. par value method
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter15: Contributed Capital
Section: Chapter Questions
Problem 4RE: Sun Corporation issues 500 shares of 8 par common stock for a patent. The stock is currently selling...
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Advance Medical Imaging, Inc. reacquired 2,000 shares of its $5 par common stock at $15 a share. The stock originally sold for $10 a share.
Required:
a. | Prepare the
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b. | Prepare the journal entry to record the reissuance of 500 shares at $18 a share under the
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c. | Prepare the journal entry to record the reissuance of 1,000 shares at $12 a share under the
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d. | Prepare the journal entry to record the retirement of the remaining 500 shares under the
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