The number of shares traded in the market for Company (S) amounted to 100,000 ordinary shares...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
The number of shares traded in the market for Company (S) amounted to 100,000 ordinary shares with a nominal value of 1 dinar. Those shares were issued at a price of 10 dinars per share. The following operations took place in that company. 1. The company purchased 12,000 of its shares as treasury shares at a price of 30 dinars per share. 2. 5,000 treasury shares were resold at a price of 38 dinars per share. 3.4,000 treasury shares were resold at a price of 27 dinars per share. Required: Make the necessary daily entries to record the previous operations using the cost method. The number of shares traded in the market for Company (S) amounted to 100,000 ordinary shares with a nominal value of 1 dinar. Those shares were issued at a price of 10 dinars per share. The following operations took place in that company. 1. The company purchased 12,000 of its shares as treasury shares at a price of 30 dinars per share. 2. 5,000 treasury shares were resold at a price of 38 dinars per share. 3.4,000 treasury shares were resold at a price of 27 dinars per share. Required: Make the necessary daily entries to record the previous operations using the cost method.
Expert Answer:
Answer rating: 100% (QA)
To record the mentioned operations using the cost method youll need to make journal entries for each ... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
Start of Payroll Project 7-3a October 9, 20-- No. 1 The first payroll in October covered the two workweeks that ended on September 26 and October 3. This payroll transaction has been entered for you...
-
The first payroll in October covered the two workweeks that ended on September 26 and October 3. This payroll transaction has been entered for you in the payroll register, the employees' earnings...
-
Attracting International Customers to your products and services is key to succeeding in the target international market. In your own words briefly explain four factors you would consider about the...
-
Sentry Transport, Inc., of Atlanta provides in-town parcel delivery services in addition to a full range of passenger services. Sentry engaged in the following activities during the current year: a....
-
The density and specific heat of a plastic material are known (p = 950 kg/m 3 , c p = 1100 J/kg K), but its thermal conductivity is unknown. To determine the thermal conductivity, an experiment is...
-
For investment advisors, a major consideration in planning for a client in retirement is the determination of a withdrawal amount that will provide the client with the funds necessary to maintain his...
-
Table B. 17 contains hospital patient satisfaction data. Fit an appropriate regression model to the satisfaction response using age and severity as the regressors and account for the medical versus...
-
Use the Internet to locate www.cia.gov and www.Amazon.com. Find the privacy and security policies for each. Compare and contrast the use of privacy statements, encryption, SSL, and cookie policies.
-
Write a statement that assigns total_coins with the sum of nickel_count and dime_count. Sample output for 100 nickels and 200 dimes is: 300 Learn how our autograder works 542962 3875132.4x3zqy7 1...
-
1. If you were in Jimmies shoes, would you sell Greg an equity stake in Lees Ice Cream? Explain. If Jimmie does sell equity to Greg for $3,300, what percentage of the business should he offer? 2....
-
Simplify: 36mn where m 0, n 0
-
Knowing the potential negative effects, would a rational person ever choose to become obese.
-
Divide the population into three groupsup to age 30, over 30 and up to 45, and over 45. Do the purchases vary by age? Now consider questions 1 to 4: Q = Quantity (in 100s) of aspirin purchased in a...
-
The bank statement for R. Hood for the month of March 2012 is: You are required to: (a) Write the cash book up to date, and (b) Draw up a bank reconciliation statement as on 31 March 2012. 2012 Mar 1...
-
A The following trial balance has been extracted from the ledger of Mr Yousef, a sole trader. The following additional information as at 31 May 2012 is available: (a) Rent is accrued by 210. (b)...
-
Consider Freds investment in units of health capital with the following function: I = 500 1,000 cost of capital. (a) Indicate some of the components of the cost of capital, and why they are costs....
-
The hybridization of the letter C atom (N in NH) is letter F atom is sp3d2. The bond angle on Y is A B 00 NH X rC Enter one of the following: 90, 109.5, 120, 180. Y Enter one of the following: sp,...
-
Assume today is the 21st of February. Using the information below, FT Extract, answer the following questions (parts i and ii). You work for a US company that is due to receive 250 million in June...
-
Refer to QS 5-5 and prepare journal entries to record each of the merchandising transactions assuming that the company records purchases using the gross method and a periodic inventory system. Data...
-
Shaw Inc. began this period with a budget for 1,000 units of predicted production. The budgeted overhead at this predicted activity follows. At period-end, total actual overhead was $92,000, and...
-
Viva sells its waterproof phone case for $90 per unit. Fixed costs total $162,000, and variable costs are $36 per unit. Determine the (1) Contribution margin per unit and (2) Break-even point in...
-
A bank offers customers the option of receiving interest compounded quarterly, semi-annually, or annually. If the rate of interest is the same, which is the best option for the customer?
-
The director of marketing of your organization asks for your advice regarding sponsorship deals she is contemplating. She has to choose from the following: a 15-year sponsorship paying \($100,000\)...
-
An athlete signs a five-year endorsement deal with a prominent sponsor. Under this deal the athlete will receive \($5,000\) each year for the first three years and \($6,500\) each year for the final...
Study smarter with the SolutionInn App