chapter_11_HW

chapter_11_HW - Homework #10 Chapter 11 Homework Problems...

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Homework #10 Chapter 11 Homework Problems E11-10 Recording Stockholders’ Equity Transactions LO3, 7 Electronic Teacher Corporation obtained a charter at the start of 2006 that authorized 55,000 shares of no-par common stock and 21,000 shares of preferred stock, par value $11. The corporation was organized by four individuals who received shares of the common stock. The remaining shares were to be sold to other individuals at $43 per share on a cash basis. During 2006, the following selected transactions occurred: a. Collected $18 per share cash from the four organizers and issued 4,100 shares of common stock to each of them. b. Sold and issued 6,500 shares of common stock to an outsider at $43 cash per share. c. Sold and issued 6,000 shares of preferred stock at $24 cash per share. Required: Give the journal entries indicated for each of these transactions. a. b. c. E11-15 Recording Treasury Stock Transactions and Analyzing Their Impact LO3
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During 2006, the following selected transactions affecting stockholders' equity occurred for Harpo Corporation: a. Apr. 1 Purchased in the open market 170 shares of the company's own common stock at $23 per share. b. Jun. 14 Sold 80 shares of treasury stock for $26 cash per share.
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This note was uploaded on 04/01/2009 for the course AEM 2210 taught by Professor Little,j. during the Spring '07 term at Cornell.

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chapter_11_HW - Homework #10 Chapter 11 Homework Problems...

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