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On October 10, the stockholders’ equity of Sherman Systems appears as follows. Common stock–$10 par value,...
On October 10, the stockholders’ equity of Sherman Systems appears as follows. Common stock–$10 par value, 93,000 shares authorized, issued, and outstanding $ 930,000 Paid-in capital in excess of par value, common stock 321,000 Retained earnings 1,032,000 Total stockholders’ equity $ 2,283,000 1. Prepare journal entries to record the following transactions for Sherman Systems. Purchased 7,100 shares of its own common stock at $46 per share on October 11. Sold 1,525 treasury shares on November 1 for $52 cash per share. Sold all remaining treasury shares on November 25 for $41 cash per share.
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ekkarill92 answered 1 year agoRelated Solutions
On October 10, the stockholders’ equity of Sherman Systems appears as follows. Common stock–$10 par value,...
On October 10, the stockholders’ equity of Sherman Systems
appears as follows. Common stock–$10 par value, 81,000 shares
authorized, issued, and outstanding $ 810,000 Paid-in capital in
excess of par value, common stock 261,000 Retained earnings 936,000
Total stockholders’ equity $ 2,007,000 1. Prepare journal entries
to record the following transactions for Sherman Systems. Purchased
5,900 shares of its own common stock at $34 per share on October
11. Sold 1,225 treasury shares on November 1 for $40 cash per...
On October 10, the stockholders’ equity of Sherman Systems appears as follows. Common stock–$10 par...
On October 10, the stockholders’ equity of Sherman Systems
appears as follows.
Common stock–$10 par
value, 81,000 shares
authorized, issued, and outstanding
$
810,000
Paid-in capital in excess of par
value, common stock
261,000
Retained earnings
936,000
Total stockholders’ equity
$
2,007,000
1. Prepare journal entries to record the following
transactions for Sherman Systems.
a. Purchased 5,900 shares of its own common stock at $34 per
share on October 11.
b. Sold 1,225 treasury shares on November 1 for...
On October 10, the stockholders’ equity of Sherman Systems appears as follows. Common stock–$10 par...
On October 10, the stockholders’ equity of Sherman Systems
appears as follows.
Common stock–$10 par value, 87,000 shares
authorized, issued, and outstanding
$
870,000
Paid-in capital in excess of par value, common stock
291,000
Retained earnings
984,000
Total stockholders’ equity
$
2,145,000
1. Prepare journal entries to record the following
transactions for Sherman Systems.
Purchased 6,500 shares of its own common stock at $40 per share
on October 11.
Sold 1,375 treasury shares on November 1 for $46 cash...
On October 10, the stockholders’ equity of Sherman Systems appears as follows. Common stock–$10...
On October 10, the stockholders’ equity of Sherman Systems
appears as follows.
Common stock–$10 par value, 76,000 shares
authorized, issued, and outstanding$760,000
Paid-in capital in excess of par value, common stock 236,000
Retained earnings 896,000
Total stockholders’ equity$1,892,000
1. Prepare journal entries to record the following transactions for
Sherman Systems.
Purchased 5,400 shares of its own common stock at $29 per share
on October 11.
Sold 1,100 treasury shares on November 1 for $35 cash per
share.
Sold...
On October 10, the stockholders’ equity of Sherman Systems appears as follows.
On October 10, the stockholders’ equity of Sherman Systems appears as follows.
Common stock–$10 par value, 84,000 sharesauthorized, issued, and outstanding
$
840,000
Paid-in capital in excess of par value, common stock
276,000
Retained earnings
960,000
Total stockholders’ equity
$
2,076,000
1. Prepare journal entries to record the following transactions for Sherman Systems.
Purchased 6,200 shares of its own common stock at $37 per share on October 11.
Sold 1,300 treasury shares...
On January 1, 2022, Riverbed Corp. had these stockholders’ equity accounts. Common Stock ($10 par value,...
On January 1, 2022, Riverbed Corp. had these stockholders’
equity accounts. Common Stock ($10 par value, 71,500 shares issued
and outstanding) $715,000 Paid-in Capital in Excess of Par Value
486,500 Retained Earnings 665,000 During the year, the following
transactions occurred. Jan. 15 Declared a $0.60 cash dividend per
share to stockholders of record on January 31, payable February 15.
Feb. 15 Paid the dividend declared in January. Apr. 15 Declared a
10% stock dividend to stockholders of record on April...
On January 1, 2022, Tacoma Corporation had these stockholders’ equity accounts. Common Stock ($10 par value,...
On January 1, 2022, Tacoma Corporation had these stockholders’
equity accounts.
Common Stock ($10 par value, 70,000
shares issued and outstanding)
$700,000
Paid-in Capital in Excess of Par
Value
500,000
Retained Earnings
620,000
During the year, the following transactions occurred.
Jan.
15
Declared a $0.50 cash dividend per
share to stockholders of record on January 31, payable February
15.
Feb.
15
Paid the dividend declared in
January.
Apr.
15
Declared a 10% stock dividend to
stockholders of record on April...
On January 1, 2022, Bridgeport Corp. had these stockholders’ equity accounts. Common Stock ($10 par value,...
On January 1, 2022, Bridgeport Corp. had these stockholders’
equity accounts. Common Stock ($10 par value, 66,500 shares issued
and outstanding) $665,000 Paid-in Capital in Excess of Par Value
481,500 Retained Earnings 615,000 During the year, the following
transactions occurred. Jan. 15 Declared a $0.40 cash dividend per
share to stockholders of record on January 31, payable February 15.
Feb. 15 Paid the dividend declared in January. Apr. 15 Declared a
10% stock dividend to stockholders of record on April...
On January 1, 2017, Monty Corp. had these stockholders’ equity accounts. Common Stock ($10 par value,...
On January 1, 2017, Monty Corp. had these stockholders’ equity
accounts.
Common Stock ($10 par value, 75,000
shares issued and outstanding)
$750,000
Paid-in Capital in Excess of Par
Value
523,000
Retained Earnings
620,000
During the year, the following transactions occurred.
Jan.
15
Declared a $0.60 cash dividend per
share to stockholders of record on January 31, payable February
15.
Feb.
15
Paid the dividend declared in
January.
Apr.
15
Declared a 10% stock dividend to
stockholders of record on April...
On January 1, 2022, Marigold Corp. had these stockholders’ equity accounts. Common Stock ($10 par value,...
On January 1, 2022, Marigold Corp. had these stockholders’
equity accounts.
Common Stock ($10 par value, 68,500
shares issued and outstanding)
$685,000
Paid-in Capital in Excess of Par
Value
483,500
Retained Earnings
635,000
During the year, the following transactions occurred.
Jan.
15
Declared a $0.70 cash dividend per
share to stockholders of record on January 31, payable February
15.
Feb.
15
Paid the dividend declared in
January.
Apr.
15
Declared a 10% stock dividend to
stockholders of record on April...
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