Question
Pizza Hotline Technologies Corp. reported the following equity balances on December 31, 2009: Common shares, 250,000...
Pizza Hotline Technologies Corp. reported the following equity
balances on December 31, 2009:
Common shares, 250,000 shares issued $1,540,000
Retained earnings 321,000
Total equity $1,861,000
In 2010, Pizza Hotline Technologies Corp. completed the following
equity related transactions:
April 14 Reacquired 23,000 common shares at $8.00 per share. (This
is the first time Pizza Hotline Technologies Corp. reacquired
shares.)
June 5 Reacquired 16,000 common shares at $6.50 per share.
Required: Prepare the journal entries for the above transactions.
Homework Answers
Answer #1
Not the answer you're looking for?
Similar Questions
the equity account for kalimantan corp showed the following balances on dec31 2016 preferred shares 2$...
the equity account for kalimantan corp showed the
following balances on dec31 2016
preferred shares 2$ non cumulative unlimited share
authorized 0$
common share unlimited shares authorized 100000 shares issued and
outstanding 640,000
retained earnings 864000
the company completed these transactions during 2017
jan 10 issued 20000 common shares at 9.60 cash per share
jan 15 the directors declared a 10% share dividend to jan 30
shareholders of record ,distributable on feb 15.
4. Onyx Corporation had the following balances in its stockholders' equity accounts at December 31, 2014:...
4. Onyx Corporation had the following balances in its
stockholders' equity accounts at December 31, 2014:
(25 Points)
Common Stock, $25 par, 100,000 shares authorized, 10,000 shares
issued
$250,000
Contributed Capital in Excess of Par Value, Common
125,000
Retained Earnings
450,000
Treasury Stock, 2,000 shares
(60,000)
Total stockholders’ equity
$765,000
The following transactions occurred during 2015:
April 30
Sold and issued 5,000 shares of common stock for $32 per
share.
June 11
Declared a $1.50 per share dividend on...
On its December 31, 20x6, balance sheet, Block Corporation reported its stockholders’ equity as follows: Common...
On its December 31, 20x6, balance sheet, Block Corporation
reported its stockholders’ equity as follows: Common stock—$5 par
value, 1,000,000 shares authorized, 100,000 shares issued and
outstanding $500,000 Paid-in capital in excess of par value, common
100,000 Retained earnings 400,000 Total stockholders’ equity
$1,000,000 During 20x7, the following transactions occurred:
1. Reacquired 2,500 shares at $7 per share.
2. Sold 1,200 shares of treasury stock at $8 per share.
3. Sold 500 shares of treasury stock at $6 per share....
At the end of 2018, Durham Mining Corp. reported the following in Shareholders’ Equity as indicated...
At the end of 2018, Durham Mining Corp. reported the following
in Shareholders’ Equity as indicated in Table-1 below:
Table-1:
Common shares, no-par value, authorized, unlimited
shares, issued 2,000,000 shares. Outstanding 1,900,000 shares
$ 3,200,000
Contributed Capital on Treasury Stock
Transactions
50,000
Retained Earnings
4,000,000
Treasury Stock, 100,000 common shares
(700,000)
The company had treasury stock transactions in the following
sequence during 2019:
i) Purchased 50,000 common shares as treasury stock at $10 per
share.
ii) Reissued 20,000...
At December 31, 2020, the balance sheet of Meca International included the following shareholders' equity accounts:...
At December 31, 2020, the balance sheet of Meca International
included the following shareholders' equity accounts:
Shareholders’ Equity
($ in millions)
Common stock, 65 million shares at $1 par
$
65
Paid-in capital—excess of par
490
Retained earnings
600
Required:
Assuming that Meca International views its share buybacks as
treasury stock, record the appropriate journal entry for each of
the following transactions: (If no entry is required for a
transaction/event, select "No journal entry required" in the first
account field....
The shareholders’ equity of Core Technologies Company on June 30, 2017, included the following: Common stock,...
The shareholders’ equity of Core Technologies Company on June
30, 2017, included the following:
Common stock, $1
par; authorized, 5 million shares;
issued and outstanding, 2 million shares
$
2,000,000
Paid-in capital—excess of
par
8,000,000
Retained earnings
14,000,000
On April 1, 2018, the board of directors of Core Technologies
declared a 10% stock dividend on common shares, to be distributed
on June 1. The market price of Core Technologies’ common stock was
$32 on April 1, 2018, and $42 on...
The shareholders’ equity of Core Technologies Company on June 30, 2017, included the following: Common stock,...
The shareholders’ equity of Core Technologies Company on June
30, 2017, included the following: Common stock, $1 par; authorized,
8 million shares; issued and outstanding, 3 million shares $
3,000,000 Paid-in capital—excess of par 12,000,000 Retained
earnings 14,000,000 On April 1, 2018, the board of directors of
Core Technologies declared a 10% stock dividend on common shares,
to be distributed on June 1. The market price of Core Technologies’
common stock was $30 on April 1, 2018, and $40 on...
On December 31, 2014, Andes Company had 1,500,000 shares of $10 par common stock issued and...
On December 31, 2014, Andes Company had 1,500,000 shares of $10
par common stock issued and outstanding. The stockholders’ equity
accounts at December 31, 2014,had the following balances.
Common Stock
$15,000,000
Additional Paid-in Capital
1,500,000
Retained Earnings
900,000
Transactions during 2015 and other information related to
stockholders’ equity accounts were as follows.
1. On January 10, 2015, Andes issued at $105 per share 100,000
shares of $100 par value,8% cumulative preferred stock.
2. On February...
Presented below if the stockholders’ equity section of Blue Corporation at December 31, 2020: Common stock,...
Presented below if the stockholders’ equity section of
Blue Corporation at December 31, 2020:
Common stock, par value $20; authorized 75,000 shares;
issued and outstanding 45,000 shares $900,000
Paid-in-capital in excess of par value
350,000
Retained earnings 500,000
During 2021, the following transactions occurred related
to stockholder’ equity:
3,000 shares were reacquired at $28 per
share.
3,000 shares were reacquired at $35 per
share.
3,200 shares of treasury stock were sold at $30 per
share.
For the year ended December...
The shareholders’ equity of Core Technologies Company on June 30, 2020, included the following: Common stock,...
The shareholders’ equity of Core Technologies Company on June
30, 2020, included the following:
Common stock, $1 par; authorized, 8 million shares;
issued and outstanding, 3 million shares
$
3,000,000
Paid-in capital—excess of par
12,000,000
Retained earnings
19,000,000
On April 1, 2021, the board of directors of Core Technologies
declared a 10% stock dividend on common shares, to be distributed
on June 1. The market price of Core Technologies’ common stock was
$34 on April 1, 2021, and $44 on...
ADVERTISEMENT
Need Online Homework Help?
Get Answers For Free
Most questions answered within 1 hours.
ADVERTISEMENT
Active Questions
asked 10 minutes ago
asked 13 minutes ago
asked 25 minutes ago
asked 57 minutes ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago