User Account

All Pages

Prepare the appropriate journal entry for each transactions

Assignment Help Accounting Basics
Reference no: EM131737441

Question - In 2016, Western Transport Company entered into the treasury stock transactions described below. In 2014, Western Transport had issued 140 million shares of its $1 par common stock at $17 per share.

Required: Prepare the appropriate journal entry for each of the following transactions:

1. On January 23, 2016, Western Transport reacquired 10 million shares at $20 per share.

2. On September 3, 2016, Western Transport sold 1 million treasury shares at $21 per share.

3. On November 4, 2016, Western Transport sold 1 million treasury shares at $18 per share.

Reference no: EM131737441

Questions Cloud

Change in price the bond will experience in dollars : You believe that in one year, the yield to maturity will be 7.6 percent. What is the change in price the bond will experience in dollars?
What role does technology plays in long run economic growth : What role does technology plays in long run economic growth, How is the business cycle related to employment and inflation
Unemployment rates to diverge in the two regions : From 1992 to 1997, the unemployment rate in the US declined from 7.5% to 4.9%, while at the same time it rose from 8% to over 12% in continental western Europe.
Interest rate expected one year : If the unbiased expectations theory of the term structure of interest rates holds, what is the 1-year interest rate expected one year from now
Prepare the appropriate journal entry for each transactions : Prepare appropriate journal entry for each of the following transactions: On January 23, 2016, Western Transport reacquired 10 million shares at $20 per share
Solve problem of the wall street journal : The following article appeared on the front page of the Wall Street Journal on April 17, 1998: The public, by 79% to 17%, favors raising the minimum hourly.
Find the historical data for the past five years : Find the historical data for the past five years. Identify the economic issues that relate to these indicators: Make use of graphs and charts.
Categories for the baldrige national quality award : Describe what you believe to be the most important of the criteria categories for the Baldrige National Quality Award, and indicate what specific things.
Solve problem using the standard labor market diagram : From 1993 through 1995, compensation per hour in the US rose an average of 2.2% per year, down from 5.2% the previous three years.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd