Question: answer it fast Clicker Question Preparation Guide: Ch. 11 & 7 D2L quiz questions will be asked in class based on your completion of this
Clicker Question Preparation Guide: Ch. 11 \& 7 D2L quiz questions will be asked in class based on your completion of this preparation guide. Example in class question: What is the debit account in Question 2a? You will not have time to complete this guide in class! You are required to handwrite your answers to this assignment. 1) Homer Co. issues 9,250 shares of $2 par value common stock for $15 per share. a. What is the journal entry to record this transaction? (You may or may not need all rows of b. Homer Co. repurchases 1,250 of its own $2 par common stock for $19 per share. What is the journal entry to record this transaction? (You may or may not need all rows of this c. Assuming the above transactions represent all of the common stock activity of Homer Co., how many common shares are issued? d. Assuming the above transactions represent all of the common stock activity of Homer Co., how many common shares are in treasury? e. Assuming the above transactions represent all of the common stock activity of Homer Co., how many common shares are outstanding
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
