Do not give image format Cullumber Corporation's general ledger includes the following account balances:Contributed SurplusCommon SharesRetained EarningsThe Contributed Surplus account arose from net excess of proceeds over cost on a previous cancellation of common shares. Theaverage cost of the common shares bought and cancelled in the first two transactions shown below is $30 per share.Assuming that the above balances existed before any of the transactions that follow, record the journal entries for each transaction.a.b.C.d.$9,000$270,000$84,000e.Bought and cancelled 500 shares at $36 per share.Bought and cancelled 200 shares at $42 per share.Sold 2,800 shares at $39 per share.Sold 1,400 shares at $47 per share.Bought and cancelled 800 shares at $50 per share. (Round average per share cost to 3 decimal places, e.g. 40.355. Round answers to 0 decimal places, e.g. 5,275. List alldebit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do notindent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)No. Account Titles and Explanationb.C.,d.DebitmCredit

Journal entry records the accounting transactions of a business in a journal book. All the business…

Cullumber Corporation's general ledger includes the following account balances: Contributed Surplus Common Shares Retained Earnings $9,000 $270,000 $84,000 The Contributed Surplus account arose from net excess of proceeds over cost on a previous cancellation of common shares. The average cost of the common shares bought and cancelled in the first two transactions shown below is $30 per share. Assuming that the above balances existed before any of the transactions that follow, record the journal entries for each transaction.

Cullumber Corporation's general ledger includes the following account balances: Contributed Surplus Common Shares Retained Earnings $9,000 $270,000 $84,000 The Contributed Surplus account arose from net excess of proceeds over cost on a previous cancellation of common shares. The average cost of the common shares bought and cancelled in the first two transactions shown below is $30 per share. Assuming that the above balances existed before any of the transactions that follow, record the journal entries for each transaction.

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter14: Financial Statement Analysis

Section: Chapter Questions

Problem 24E: Income statement and earnings per share for discontinued operations Apex Inc. reports the following...

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