Emma Consulting had previously purchased 2,439 shares of treasury stock for $8 per share.  Emma then sold 935 shares of the treasury stock for $13 per share. The credit to treasury stock to record the sale would be $______

Q: Oriental Furnishing Company purchased `3,600 shares of Wire &Wire products shares at OR 15 per share…

A: Journal entries are recording of the transaction in the accounting journal in a chronological order.…

Q: Familia Ltd. purchased from its shareholders 5,000 shares of its own previously issued shares for…

A: Purchase price of Treasury stock : = $ 250000/5000 shares = $ 50

Q: Since Garnet Co

A: (1) the tax liability will be treated as a dividend for frank since this does not affect his…

Q: Boy with luv Co. received 20,000 stocks right to subscribe for new shares at P45 per share for every…

A: Stock rights refers to the instrument which is issued through the companies for providing the…

Q: On February 22, Stewart Corporation acquired 7,200 shares of the 200,000 outstanding shares of…

A: A journal entry is a form of accounting entry that is used to report a business transaction in a…

Q: Splish Brothers Inc. purchased from its stockholders 6,000 shares of its own previously issued stock…

A: Treasury stock: Shares which are bought back by the company from the open market but not retired…

Q: Caramel Corporation has 5,000 shares of stock outstanding. In a qualifying stock redemption, Caramel…

A: Earnings and profits (E&P) measures the company's economic ability pertaining to payment of…

Q: On December 5, Taylor Inc., purchased 2000 shares of Company A at $60.5 per share, and 1000 shares…

A: Unrealized gains/losses are an increase or decrease in the value of an investment respectively,…

Q: During the most recent year, Quinn Co. bought 2,800 shares of Germana-Hall Corporationcommon stock…

A: Since Quinn co does not own more than 10% of outstanding stock of any company, the investments are…

Q: During the year, BFAR Corp. completed the following transactions related to its treasury shares:…

A: Share premium includes the amount which is computed if the shares are purchased or sold at the…

Q: Rinehart Corporation purchased from its stockholders 5,300 shares of its own previously issued stock…

A: Purchase price of each share = $275,600/5300                                                = $ 52

Q: On September 12, 3,800 shares of Aspen Company are acquired at a price of $60.00 per share plus a…

A: Brokerage commission paid to purchase the shares will be added to the cost of the shares.

Q: AL - Kamel Supplies Company purchased 1200 shares of Bahwan Group shares at OR30 per share.…

A: Definition: Journal: Journal is the method of recording monetary business transactions in…

Q: Sunland Company has issued 1,900 shares of common stock and 380 shares of preferred stock for a lump…

A: The stock in which shareholder’s are entitled to received dividend whose amount may vary from time…

Q: Iris Corporation makes an investment in 200 shares of Harolds Company’s common stock. The…

A: If an investment is purchased then there are two methods to record the investments namely, the cost…

Q: John owns 5, 000 shares of stocks from Easter Union Company. The shares were purchased at ₱47.45 per…

A: Issue of shares is one of the important source of finance being used by the business. Broker charges…

Q: On February 1, Motorsports Inc. reacquired 7,500 shares of its common stock at $30 per share. On…

A:

Q: On July 7, Splish Ltd. purchased 1,100 common shares in a privately-owned company named TWR Ltd. As…

A: Journal entries refer to the process of systematically documenting the financial transactions of a…

Q: Holiday, Inc. had the following transactions in the ordinary shares of May Corporation: January 5…

A: Bonus issue means additional shares are issued by the company to the current shareholders free of…

Q: On December 10, Daniel Co. split its stock 3-for-1 when the market value was P65 per share. Prior to…

A: Note: When the company declares the share split, then the no. of shares increases in the split…

Q: Shott Farm Supplies Corporation purchased 800 shares of General Motors stock at $50 per share and…

A: Cash paid for purchase.

Q: Assume that on February 12, First Union Co. purchases for cash 6,000 shares of Gilbert Co. stock at…

A: Total amount paid = (No. of shares x Price per share) + Brokerage fee = (6,000 shares  x $22 per…

Q: Splish Brothers Inc. purchased from its stockholders 5,400 shares of its own previously issued stock…

A: Purchase price per share = Total amount paid / No. of shares purchased = $270,000/5400 shares = $50…

Q: Prepare the journal entries for the original purchase, the dividend, and the sale under the cost…

A:

Q: Sunland Company has issued 1,900 shares of common stock and 380 shares of preferred stock for a lump…

A: Stocks are issued at fair value. But, they should record as “par value for share capital” and…

Q: A client had the following investment transactions in 20X0: On March 20, purchased 1,000 shares of…

A: The dividend for which the client is entitled to receive is calculated on the number of shares held…

Q: Western Moving Corporation was organized with authoriza-tion to issue 100,000 shares of $1 par value…

A: Given information is: Western Moving Corporation was organized with authorization to issue 100,000…

Q: (a) On January 31, the board of directors issues a requirement to purchase 5,000 shares of its…

A: Particulars Debit Credit a       Jan 31 Treasury Stock 110000             Cash   (5000*22)…

Q: On February 22, Stewart Corporation acquired 7,200 shares of the 200,000 outstanding shares of…

A: Costing method highlights Under the Costing method cost of the investment in securities is recorded…

Q: Bob Co issued 25,000 shares of $1 par value stock for $3.50 on January 1st.   On October 9th, they…

A: Treasury stock refers to a method used by the organization to repurchase the issued stock. It is…

Q: On May 27, Mama Mia Inc. reacquired 78,000 shares of its common stock at $8 per share. On August 3,…

A: Treasury stock are shares reacquired by the company. Treasury stock is shown at last in the…

Q: mma Consulting had previously purchased 2838 shares of treasury stock for $7 per share. Emma then…

A: Solution: Treasury stock are the stock which are purchased by the company of its own shares. These…

Q: On July 1, 2018 Tam Company purchased 3,000 shares of Del Company capital stock as a temporary…

A:

Q: On April 1, Kang Corporation purchased back 250 shares of $1 par value common stock for $20 per…

A: Treasury stock: When shares are purchased from the open market by the company then these shares are…

Q: A client had the following investment transactions in 20X0: On March 20, purchased 1,000 shares of…

A: Right shares :              There are various sources from which the corporation can finance their…

Q: On May 27, Hydro Clothing Inc. reacquired 75,000 shares of its common stock at $8 per share. On…

A: Treasury Stock: It refers to the shares that are reacquired by the corporation that are already…

Q: A client had the following investment transactions in 20X0: On March 20, purchased 1,000 shares of…

A: Investment transactions in 20X0 : On March 20, Purchased shares of XYZ Co. ordinary shares = 1000…

Q: To obtain all of the stock of Molly, Inc., Harrison Corporation issued its own common stock.…

A: The direct combination costs of $98,000 paid to to lawyers, accountants, and a stock brokerage are…

Q: client had the following investment transactions in 20X0: On March 20, purchased 1,000 shares of XYZ…

A: Shareholders are those person who have own and invested in the company share and has the right in…

Q: A client had the following investment transactions in 20X0: On March 20, purchased 1,000 shares of…

A: Investment Carrying Value= $224.75.

Q: Emma Consulting had previously purchased 3,466 shares of treasury stock for $7 per share. Emma then…

A: Given,  3,600 shares purchased for $7 per share Sold 1,225 shares of treasury stock for $13 per…

Q: HET purchased 80% of the 10,000 outstanding shares LNET had on Jan. 1, 2019 for $300,000 cash. On…

A: In this question, We will find total acquisition differential on January .1, 2019.

Q: eeper purchased 400 shares of the GST Company common stock at P4,890.00 per share. A few months…

A: Relevant information : Number of shares=400Purchase price per share=P4,890Sales price per…

Q: James Company purchased 900 shares of POP Company's stock as a long-term investment for $57,600.…

A: Formula: Purchase price per share = Total purchase value / Number of shares purchased

Q: Mary owns 5, 000 shares of stocks from Inter-Pacific Company. The shares were purchased at ₱47.45…

A: solution concept On sales of stock when selling price is greater than purchase price there is profit…

Q: Since Garnet Corporation was formed five years ago, its stock has been held as follows: 525 shares…

A: a. Tax consequences of the stock redemption to Frank & Grace. Grace has a recognized long-term…

Q: Assume that on February 12, First Union Co. purchases for cash 6,000 shares of Gilbert Co. stock at…

A: Companies which have excess cash or ideal cash can invest in fixed deposit or purchase shares of…

Q: Alpha Corporation has outstanding four hundred shares of $100 par value common stock, which has been…

A: In case of insolvency, the assets, and liabilities are realized and the payment dues are covered…

Q: A client had the following investment transactions in 20X0: On March 20, purchased 1,000 shares of…

A: The right shares refer to the shares issued to the existing shareholders. The right shares are the…

Stockholder's Equity

The stockholders’ equity (often referred to as the book value of the company) is the number of assets available to the stockholder after its entire liabilities is paid off. The stockholders’ equity is also sometimes referred to as owner's equity. The stockholders’ equity or book value generally includes common stock, treasury stock retained earnings. It is an indicator of a company's financial strength and is an important item on the company's balance sheet.