Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. entries for treasury stock on may 27, kick off inc

Entries for Treasury Stock On May 27, Kick Off Inc. reacquired 6,100 shares of its...

50.1K

Verified Solution

Question

Accounting

Entries for Treasury Stock

On May 27, Kick Off Inc. reacquired 6,100 shares of its common stock at $27 per share. On August 3, Kick Off sold 3,300 of the reacquired shares at $30 per share. November 14, Kick Off sold the remaining shares at $26 per share.

Journalize the transactions of May 27, August 3, and November 14. For a compound transaction, if an amount box does not require an entry, leave it blank.

Is this correct?

image 164,700 164,700 Aug. 3 Cash Treasury Stock Paid-In Capital from Sale of Treasury Stock 99,000 89,100 Nov. 14 Cash 72,800 Paid-In Capital from Sale of Treasury Stock Treasury Stock

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Solve For Angle A B 11 9 7 10 10

Geometry
Q

Question 2 1 point G H If m GHI 54 degrees what is the measure...

Geometry
Q

a) How many moles of Cu are there in 35.7 grams of Cu? b) How many MOLES...

Chemistry
Q

A sinusoidal electromagnetic wave propagates in a vacuum in the positive x-direction. The B⃗  field oscillates in...

Physics
Q

What physical changes occur in adolescence that mark the transition to a mature young adult? How do...

Psychology
Q

A small town gets its water supply from three nearby lakes, A, B, and C. Sometimes...

Advance Math
Q

5 Find the exact value of each trigonometric expression a cos 70 cos 50 sin...

Basic Math
Q

20 A normal random variable x has an unknown standard deviation and mean 54 If...

Statistics
Q

4 2 pts Definite integrals Compute the following definite integral 1 31 dx

Calculus
Q

Company A gives Plant and Machinery ($500,000 cost, $200,000 accumulated depreciation) and $100,000 cash for...

Accounting
Q

An extract from Decoware Ltd's comparative statements of financial position is presented in a pro-forma...

Accounting
Q

Ravena Labs., Inc. makes a single product which has the following standards: Direct...

Accounting