(Show ALL your work and round all numbers to the nearest dol…
(Show ALL your work and round all numbers to the nearest dollar). Agler Corporation’s beginning of year balance sheet reported the following: Common stock (10,000 shares issued & outstanding, $5 par) $ 50,000 Paid-in capital in excess of par (APIC-C/S) 160,000 Retained earnings 100,000 The following transactions occurred this year: February 1: Purchased 500 shares of capital stock to be held as treasury stock, paying $45 per share. May 1: Reissued 200 of the shares of treasury stock at $48 per share. September 1: Reissued 100 shares of treasury stock at $23 per share. December 1: Announced a 2-for-1 split, effective December 1. Required: 1.Prepare the journal entries for each transaction under the cost method of accounting for treasury stock. 2/1: dr. [BLANK-1] for [BLANK-2] cr. [BLANK-3] for [BLANK-4] 5/1: dr. [BLANK-5] for [BLANK-6] cr. [BLANK-7] for [BLANK-8] cr. [BLANK-9] for [BLANK-10] 9/1: dr. [BLANK-11] for [BLANK-12] dr. [BLANK-13] for[BLANK-14] dr. [BLANK-15] for [BLANK-16] cr. [BLANK-17] for [BLANK-18] 12/1: [BLANK-19] 2.At end of year, what is the Number of shares of common stock outstanding is [BLANK-20] shares Par value per common stock is [BLANK-21] per share. Remaining balance ($) in Treasury stock is [BLANK-22]
Read DetailsAt the beginning of 2024, PWS Corporation had 100,000 shares…
At the beginning of 2024, PWS Corporation had 100,000 shares of common stock outstanding and 30,000 shares of 7%, $50 par, cumulative, nonconvertible preferred stock outstanding. In addition:On February 28, 2024, PWS purchased 24,000 shares of common stock on the open market as treasury stock paying $20 per share. On June 30, 2024, PWS declared and issued a 2-for-1 stock split on outstanding common stock. On September 30, 2024, PWS sold 6,000 treasury shares for $22 per share. Net income for 2024 was $180,905.Required:Compute the weighted average number of shares to be used in computing earnings per share for 2024. Be sure to show all your work.
Read DetailsRoberto Corporation was organized on January 1, 2024. The fi…
Roberto Corporation was organized on January 1, 2024. The firm was authorized to issue 84,000 shares of $5 par common stock. During 2024, Roberto had the following transactions relating to shareholders’ equity: Issued 9.500 shares of common stock at $7.10 per share. Issued 2,000 shares of common stock at $10.00 per share. Reported NI of $102,000. Paid dividends of $59,000. Purchased 3,600 shares of treasury stock at $12.00. What are the balances, in dollars, in each of the following accounts: Common stock: [BLANK-1] APIC-C/S: [BLANK-2] Treasury stock: [BLANK-3] Retained earnings: [BLANK-4] Total Shareholders’ Equity at the end of 2024: [BLANK-5]
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