How do you record this transaction?, Cost Accounting

Assignment Help:

Two classes of stock authorized: $100 par preferred and $2 par common


how do you record this transaction?

May 18 Issues 30,000 additional shares of $2 common stock for $75 per share.

May 25 Issue 8,000 shares of preferred stock for $125 per share.

July 1 Declare a cash dividend of $1.25 per share on common stock and $3.00 per share on preferred stock to all stockholders of
record on July 15.

July 31 Pay the cash dividend declared on July 1.

August 15 Repurchase 9000 shares of treasury stock for $70 per share.

October 1 Reissue 4000 shares of treasury stock purchased on August 15 for $75 per share.

 


Related Discussions:- How do you record this transaction?

Prepare a spreadsheet of an overhead budget, Prepare a spreadsheet of an ov...

Prepare a spreadsheet of an overhead budget for the company in Problem 5 on page 216 of the textbook. You have been running a construction company out of your home with your spouse

Compute the internal rate of return, ABC bond is a 20-year bond with face v...

ABC bond is a 20-year bond with face value $1000. The coupon payment is $25 per 6 months. The semi-annual yield is 4%. Use the PV function in Excel (or equivalent) to Önd the price

Labor costing, What is labor costing,what are the problems involved in labo...

What is labor costing,what are the problems involved in labor costing

Determine the current profits, Two firms compete in a homogenous product ma...

Two firms compete in a homogenous product market where the inverse demand function is P = 10 - 2Q (quantity is measured in millions). Firm 1 has been in business for 1 year, while

Participation - behavioural aspects of standards, Participation - Behaviour...

Participation - Behavioural Aspects of Standards It has already been pointed out in the previous paragraph such standard costing systems would be more acceptable whether the e

Functional classification of costs, Functional Classification of Costs ...

Functional Classification of Costs Beneath this classification, costs are classified according to the function they execute in an organization.  Costs can functionally be clas

Calculate the fixed costs to the two products, Herrestad Company does produ...

Herrestad Company does produce and sell two products and the details below will be used to prepare a segmented income statement (showing the income for each product and the total)

Profit and loss account, Both the parts, Profit and Loss Account and Tradin...

Both the parts, Profit and Loss Account and Trading Account of last account are interdependent upon each other. Gross Profit or loss plays a very important role in the calculation

Engineering method of cost estimation, Engineering Method of Cost Estimatio...

Engineering Method of Cost Estimation This method is based on a detailed study of each operation whereas careful requirement is made for materials, labour and equipment essent

Write Your Message!

Captcha
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!

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