Question: Chapter 18 - Create and provide solutions for one or more problems involving the repurchase and reissuance of common shares. The problems should address each
Chapter 18 - Create and provide solutions for one or more problems involving the repurchase and reissuance of common shares. The problems should address each of these 8 scenarios:
| Treatment of repurchased shares | ||
| Retired | Treasury stock | |
| Price per share paid in repurchase | 1. Greater than per share par+PIC in excess of par | 3. Greater than per share par+PIC in excess of par |
| 2. Less than per share par+PIC in excess of par | 4. Less than per share par+PIC in excess of par | |
| Sales price per share on reissuance | 5. Greater than per share price paid for repurchase | 7. Greater than per share price paid for repurchase |
| 6. Less than per share price paid for repurchase | 8. Less than per share price paid for repurchase | |
Include in your explanations:
The journal entries that correspond to the recognition, initial measurement and subsequent measurement, and derecognition of the items.
Clearly labeled spreadsheet calculations, using formulas and cell references (i.e., not input from calculators), demonstrating the initial and subsequent measurement of the items. You may incorporate practice exercises you have already done in a spreadsheet in this activity or textbook problems (be careful to incorporate all the required scenarios).
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