On May 3, Zirbal Corporation purchased 6,000 shares of its own stock for $66,000 cash. On November 4, Zirbal reissued 950 shares of this treasury stock for $11,400. Prepare the May 3 and November 4 journal entries to record Zirbal's purchase and reissuance of treasury stock. Record the purchase of 6,000 shares of its own stock for $66,000 cash. Record the reissue of 950 shares of this treasury stock for $11,400.
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- On May 3, Zirbal Corporation purchased 5,500 shares of its own stock for $49,500 cash. On November 4, Zirbal reissued 1,450 shares of this treasury stock for $14,500. Prepare the May 3 and November 4 journal entries to record Zirbal’s purchase and reissuance of treasury stock.On May 3, Zirbal Corporation purchased 8,500 shares of its own stock for $93,500 cash. On November 4, Zirbal reissued 1,750 shares of this treasury stock for $21,000. Prepare the May 3 and November 4 journal entries to record Zirbal's purchase and reissuance of treasury stock. View transaction list Journal entry worksheet < 1 2 Record the purchase of 8,500 shares of its own stock for $93,500 cash. Note: Enter debits before credits. Date May 03 Record entry General Journal Clear entry Debit Credit View general journalOn May 3, Zirbal Corporation purchased 4,000 shares of its own stock for $36,000 cash. On November 4, Zirbal reissued 850 shares of this treasury stock for $8,500. Prepare the May 3 and November 4 journal entries to record Zirbal's purchase and reissuance of treasury stock. View transaction list Journal entry worksheet 1 Record the purchase of 4,000 shares of its own stock for $36,000 cash. Note: Enter debits Date General Journal Debit Credit May 03
- On May 3, Zirbal Corporation purchased 4,500 shares of its own stock for $31,500 cash. On November 4, Zirbal reissued 1,350 shares of this treasury stock for $10,800. Prepare the May 3 and November 4 journal entries to record Zirbal's purchase and reissuance of treasury stock. View transaction list Journal entry worksheetOn May 3, Zirbal Corporation purchased 8,500 shares of its own stock for $93,500 cash. On November 4, Zirbal reissued 1,750 sha of this treasury stock for $21,000. Prepare the May 3 and November 4 journal entries to record Zirbal's purchase and reissuance of treasury stock. View transaction list Journal entry worksheet < 1 2 Record the purchase of 8,500 shares of its own stock for $93,500 cash. Note: Enter debits before credits. Date May 03 Record entry General Journal Clear entry Debit Credit View general journalOn May 3, Zirbal Corporation purchased 5,000 shares of its own stock for $45,000 cash. On November 4, Zirbal reissued 850 shares of this treasury stock for $8,500. Prepare the May 3 and November 4 journal entries to record Zirbal's purchase and reissuance of treasury stock. View transaction list Journal entry worksheet 1 2 Record the purchase of 5,000 shares of its own stock for $45,000 cash.
- On June 10, Starbar Corp. repurchased 1,000 shares of its outstanding common stock for $10 per share. Starbar Corp. then reissued 500 of those shares for $11 per share on July 1. The required journal for July 1 includes what debit(s) and credit(s)? Assume no treasury stock transactions.On May 3, Zirbal Corporation purchased 7,000 shares of its own stock for $49,000 cash. On November 4, Zirbal reissued 1,050 shares of this treasury stock for $8,400. Prepare the May 3 and November 4 journal entries to record Zirbal's purchase and reissuance of treasury stock. View transaction list Journal entry worksheet 1 2 Record the purchase of 7,000 shares of its own stock for $49,000 cash. Note: Enter debits before credits. Date May 03 Record entry General Journal Clear entry Debit Credit View general journal >Elroy Corporation repurchased 3,800 shares of its own stock for $55 per share. The stock has a par of $5 per share. A month later Elroy resold 950 shares of the treasury stock for $63 per share. Required: What is the balance of the Treasury Stock account after these transactions are recognized?
- Flint Corporation purchased 2,500 shares of its $10 par value common stock for $167,500 on August 1. It will hold these shares in the treasury until resold. On December 1, the corporation sold 1,500 shares of treasury stock for cash at $75 per share. Journalize the treasury stock transactions. (List all debit entries before credit entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation eTextbook and Media Debit CreditOn March 5, Jerald Corporation purchased 7,000 shares of its own common stock for $56,000. On July 17, Jerald Corporation reissued 900 shares of this treasury stock for $6,300. Prepare the March 5 journal entry and the July 17 entry to record the purchase and reissuance of Jerald's treasury stock. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BIUS Paragraph V Arial 10pt V Ix % 0 as dOn July 1, 2021, Gameshop Corp., repurchased 2,000 shares of its outstanding common shares for $18 per share. Prepare journal entries for the transaction under each of the following independent assumptions: (1) The average cost of previously issued common shares was $20 per share; (2) The average cost of common shares previously issued was $10 per share and contributed surplus of $20,000 existed with respect to earlier common share repurchases; (3) The average cost of common shares previously issued was $10 per share and contributed surplus of $5,000 existed with respect to earlier common share repurchases.