User Account

All Pages

What is the balance in Treasury Stock on December

Assignment Help Financial Accounting
Reference no: EM132742847

Problem - Treasury stock transactions - SprayCo Inc. develops and produces spraying equipment for lawn maintenance and industrial uses. On March 9 of the current year, SprayCo reacquired 62,000 shares of its common stock at $51 per share. On June 9, 48,000 of the reacquired shares were sold at $60 per share, and on November 13, 7,500 of the reacquired shares were sold at $54.

Required -

a. Journalize the transactions of March 9, June 9, and November 13.

b. What is the balance in Paid-In Capital from Sale of Treasury Stock on December 31 of the current year?

c. What is the balance in Treasury Stock on December 31 of the current year?

d. How will the balance in Treasury Stock be reported on the balance sheet?

Reference no: EM132742847

Questions Cloud

What the total pediatrics department cost after allocations : Prophit Clinic uses the step-down method to allocate, The total Pediatrics Department cost after allocations is closest to which value?
Ethical business obligations : What were the most compelling topics learned in this course? What approaches could have yielded additional valuable information?
Analytical approach and the perspective approach : What are their implications for Change Management? (Use examples of your own choice).
Managing change in organizations : Discuss the role of Leadership in planning and managing change in organizations.
What is the balance in Treasury Stock on December : On November 13, 7,500 of the reacquired shares were sold at $54. What is the balance in Treasury Stock on December 31 of the current year
Determine what are total equivalent unit for direct material : What are the total equivalent units for direct materials and conversion costs (using the FIFO method) if materials were added at the beginning of the process?
Performance of an asset over a long period of time : List and describe the six main areas you would consider when monitoring the performance of an asset over a long period of time (hospitality)
Describe how the company proposition changed : Describe how the Company Proposition changed as a result of the Digital Transformation
Six images framework of managing change : You are presented with the six images framework of managing change (director, navigator, caretaker, coach, interpreter and nurturer).

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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