Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. a company has 10,000 shares of $10 par common stoc

A company has 10,000 shares of $10 par common stock outstanding. Prepare entries to record...

60.1K

Verified Solution

Question

Accounting

image
image
A company has 10,000 shares of $10 par common stock outstanding. Prepare entries to record the following: a. Purchased 1,000 shares of treasury stock at $12. The treasury stock is accounted for by the cost method. Treasury Stock 12.000 Cash 12.000 b. Sold 500 shares of treasury stock at $15. If an amount box does not require an entry, leave it blank or enter"0" Cash 7.500 Pald-In Capital from Sale of Treasury Stock Treasury Stock c. Purchased equipment for $75,000, paying $25,000 in cash and issuing 4,000 shares of common stock for the remaining. If an amount box does not require an entry, leave it blank or enter Equipment Cash Common Stock Paid-In Capital in Excess of Par-Common Stock c. Purchased equipment for $75,000, paying $25,000 in cash and issuing 4,000 shares of common stock for the remaining. If an amount box does not require an entry, leave it blank or enter 7.00 2 Equipment Cash Common Stock Pald-In Capital in Excess of Par-Common Stock Feedback d. Sold 500 shares of treasury stock at $11. If an amount box does not require an entry, leave it blank or enter"O". Cash Pald-In Capital from Sale of Treasury Stock 3.000 X Treasury Stock

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students