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  • Treasury Stock Transactions and Presentation Clemson PDF

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    Clemson Company repurchased 2,000 shares of treasury stock for $38,000 and reissued some of these shares at different prices throughout 2010. The company reported $720,000 in stockholders' equity as of January 1, 2010 and $130,000 in net income for the first four months of 2010. Journal entries were made to record the treasury stock transactions and the stockholders' equity section was prepared as of April 30, 2010.

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    Clemson Company repurchased 2,000 shares of treasury stock for $38,000 and reissued some of these shares at different prices throughout 2010. The company reported $720,000 in stockholders' equity as of January 1, 2010 and $130,000 in net income for the first four months of 2010. Journal entries were made to record the treasury stock transactions and the stockholders' equity section was prepared as of April 30, 2010.

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    13 views1 page

    Treasury Stock Transactions and Presentation Clemson PDF

    Uploaded by

    Anbu jaromia
    Clemson Company repurchased 2,000 shares of treasury stock for $38,000 and reissued some of these shares at different prices throughout 2010. The company reported $720,000 in stockholders' equity as of January 1, 2010 and $130,000 in net income for the first four months of 2010. Journal entries were made to record the treasury stock transactions and the stockholders' equity section was prepared as of April 30, 2010.

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    Treasury Stock Transactions and Presentation Clemson

    (Treasury Stock Transactions and Presentation) Clemson Company had the following
    stockholders’ equity as of January 1, 2010. Common stock, $5 par value, 20,000 shares issued
    $100,000Paid-in capital in excess of par 300,000Retained earnings 320,000Total stockholders’
    equity $720,000During 2010, the following transactions occurred.Feb. 1 Clemson repurchased
    2,000 shares of treasury stock at a price of $19 per share.Mar. 1 800 shares of treasury stock
    repurchased above were reissued at $17 per share.Mar. 18 500 shares of treasury stock
    repurchased above were reissued at $14 per share.Apr. 22 600 shares of treasury stock
    repurchased above were reissued at $20 per share.(a) Prepare the journal entries to record the
    treasury stock transactions in 2010, assuming Clemson uses the cost method.(b) Prepare the
    stockholders’ equity section as of April 30, 2010. Net income for the first 4 months of 2010 was
    $130,000.View Solution:
    Treasury Stock Transactions and Presentation Clemson
    SOLUTION-- http://accountinginn.online/downloads/treasury-stock-transactions-and-
    presentation-clemson/

    For Solutions Visit accountinginn.online


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