(Answered) 1 sprinkle inc has outstanding 10000 shares of 10 par value

Accounting

1. Sprinkle Inc. has outstanding 10,000 shares of $10 par value common stock. On July 1, 2010, Sprinkle reacquired 100 shares at $87 per share. On September 1, Sprinkle reissued 60 shares at $90 per share. On November 1, Sprinkle reissued 40 shares at $83 per share. Prepare Sprinkle's journal entries to record these transactions using the cost method.

View complete question

Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91859916
Price:- $10

Verified Expert

Priced at $20 Now at $10, Verified Solution

Have any Question?Write your Review or question?

Related Questions in Accounting Basics

Question - on december 31 2017 cheyenne company signed a

Question - On December 31, 2017, Cheyenne Company signed a $1,054,800 note to Ayayai Bank. The market interest rate at that time was 11%. The stated interest rate on the note was 9%, payable annually. The note matures in ...

Qestion - the houston mavericks basketball team receives

Question - The Houston Mavericks basketball team receives $ 6500 for season tickets on August 1. By December 31, $ 3900 of the revenue has been earned. The adjusting entry to be made on December 31 includes a: A. credit ...

Question - adams jackson invests 53400 at 8 annual interest

Question - Adams Jackson invests $53,400 at 8% annual interest, leaving the money invested without withdrawing any of the interest for 8 years. At the end of the 8 years, Adams withdraws the accumulated amount of money. ...

Question - beyer company is considering the purchase of an

Question - Beyer Company is considering the purchase of an asset for $180,000. It is expected to produce the following net cash flows. The cash flows occur evenly within each year. Assume that Beyer requires a 9% return ...

Question answer the following questions1 it has been said

Question: Answer the following questions: 1. It has been said that independence is the cornerstone of the accounting profession. Explain what this means. What does it mean to say that auditors have special and critical g ...

Question - grouper inc issues 2085900 of 9 bonds due in 12

Question - Grouper Inc. issues $2,085,900 of 9% bonds due in 12 years with interest payable at year-end. The current market rate of interest for bonds of similar risk is 10%. What amount will Grouper receive when it issu ...

Question - domingo entity entered into a contract to

Question - Domingo Entity entered into a contract to exchange a liability. However, this particular liability does not have a quoted price in Domingo's principle market. Sabado Entity holds an asset similar to the liabil ...

Question - an individual received 70 capital interest in a

Question - An individual received 70% capital interest in a general partnership by contributing investment land purchased 10 years ago for 40000 value 60000 and a personal non business truck purchased 9 months ago for 12 ...

Questions - q1 conner corporations adjusted trial balance

Questions - Q1. Conner Corporation's adjusted trial balance included the following items:Accounts payable ($65,000), Accounts receivable ($45,000), Capital stock ($100,000), Cash ($50,000), Dividends ($10,000), Goodwill ...

Question - lana operates a real estate appraisal service

Question - Lana operates a real estate appraisal service business in a small town serving local lenders. After noting that lenders must pay to bring in a surveyor from out of town, she completes a course and obtains a su ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Accounting Basics Expert