Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. information taken from nanotec security inc.'s jan

Information taken from Nanotec Security Inc.'s January 31, 2020, balance sheet follows: Common shares, 600,000...

80.2K

Verified Solution

Question

Accounting

image

Information taken from Nanotec Security Inc.'s January 31, 2020, balance sheet follows: Common shares, 600,000 shares authorized, 52,000 shares issued and outstanding Retained earnings $650,000 84,850 On February 1, 2020, the company repurchased and retired 1,500 common shares (the first retirement the company has recorded). Required: Prepare General Journal entries to record the repurchase and retirement under each of the following independent assumptions. The shares were repurchased for: a. $10.00 per share b. $12.50 per share c. $15.00 per share View transaction list Journal entry worksheet Record the retirement of shares for $10.00 per share. Note: Enter debits before credits. Date General Journal Debit Credit Feb. 01, 2020 Record entry Clear entry View general journal

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: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

What are the available teatments for cancer in UAE?

Biology
Q

-Explain the “right ear” advantage and why it exists -How fo the Wada test and split...

Psychology
Q

Consider a variant of the matrix-chain multiplication problem in which the goal is to parenthesize...

Advance Math
Q

un object with a height of 0 06 m points below the principal axis it...

Physics
Q

One of the problems encountered by corporations in America is finding an adequate number of...

Basic Math
Q

Determine whether the function is even odd or neither 43 5 x 2 f x...

Calculus
Q

Write the decimal as a fraction in lowest terms 0 718 0 718 Type an...

Algebra
Q

Sun Company purchased as a short-term investment $300,000 of 10% bonds, dated July 1, on...

Accounting
Q

Returning to our running case for Shannon's Brewery introduced in the market share exercise, assume...

Accounting
Q

The following totals for the month of April were taken from the payroll records of...

Accounting
Q

Audrey's prior cumulative gross earnings were $139,230, and her gross earnings in one week were...

Accounting
Q

Alpha Corporation inform los siguientes datos para su ao ms reciente: ventas, $500,000; gastos variables,...

Accounting