User Account

All Pages

Record the treasury stock transactions

Assignment Help Accounting Basics
Reference no: EM131774781

Problem - Treasury Stock-Cost Method

Before Gordon Corporation engages in the treasury stock transactions listed below, its general ledger reflects, among others, the following account balances (par value of its stock is $30 per share).

Paid-in Capital in Excess of Par Common Stock Retained Earnings

$99,000 $270,000 $80,000

Instructions -

Record the treasury stock transactions (given below) under the cost method of handling treasury stock; use the FIFO method and the par value method for purchase-sale purposes, also prepare a Statement of Stockholders' Equity for each method

(a) Bought 380 shares of treasury stock at $40 per share.

(b) Bought 300 shares of treasury stock at $45 per share.

(c) Sold 350 shares of treasury stock at $42 per share.

(d) Sold 110 shares of treasury stock at $38 per share.

Reference no: EM131774781

Questions Cloud

Use the cash flow approach : Use the cash flow approach (insider's viewpoint approach). Show the EUAC values used to make your decision:
Determine the current balance of retained earnings : Problem - Computation of Retained Earnings, Total income since incorporation $287,000, Determine the current balance of retained earnings
How much will be re-deposited into the next bank : How much will the public hold back and not re-deposit into the Banking System? Calculate and Show your work.
What are some day to day items you encountered : On the income statement, the net income figure is important, but I stress operating earnings more - as it's a better indicator of a company's day to day.
Record the treasury stock transactions : Problem - Treasury Stock-Cost Method, Record the treasury stock transactions (given below) under the cost method of handling treasury stock
Define elastic portion of the demand curve for tickets : Based on resale prices for tickets for the 2013 Super Bowl in New Orleans, face - value prices for the most expensive tickets to the 2014 game are expected.
Discuss signing a long-term note payable for the balance : Purchased equipment costing $87,400 by paying $52,000 cash and signing a long-term note payable for the balance
Prepare all necessary journal entries for both situations : Problem - Journal Entries for Fair Value and Equity Methods - Instructions - Prepare all necessary journal entries in 2007 for both situations
Probability that any one individual would have second phone : Based on what else you know about this person, you were already a little (.01 probability) suspicious. Calculate the probability that any one individual.

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