Ace 12 Section 02Spring 201 My Truong 1 6218 515 PM Homewor

Ace 12- Section 02-Spring 201 My Truong ? 1 6218 5:15 PM Homework: Chapter 13 Score: 0 of 1 pt S13-6 (book/static) 18of25(17compiese) Score: 64%, 16 of 25 pts Question Heip Discount Funtee, inc completed the otwng tren Ckck the icon to view the tranactios y stook trasactions 2018 1 Joumeice these rensactions Explanations are not sequed 2 How w Discount Furntue, Inc repert sy stock on its balance shoet as of December 31, 2018 Requirement 1. Joumalze these transactions (Record debits rst then credits Exclade expianaons tom ny journal entries Dec. 1: Purchased 1,900 shares ofl the company\'s $t par value conmon stock as beasay stock, paying cash of $5 per share More Int Credit 15 Soid 200 shares of the treasury slock for cash of $8 per share 20 Soid 1,000 shares of the teasurysocor cash of $t per share (Assune the balancen Dec t Pad-in Capital ron Treasry Sock Transactons on December 20 in $2.400) Pint Done Choose from any list or erer any number in the inpuit felds and then dick Cheok Answer pats Type here to search

Solution

Answer 1. Journal Entry Date Particulars Dr. Amt. Cr. Amt. 1-Dec Treasury Stock    9,500.00 1,900 shares X $5    Cash    9,500.00 15-Dec Cash    1,600.00 200 shares X $8    Treasury Stock    1,000.00 200 shares X $5    Paid in Capital in excess of Par - Treasury Stock       600.00 200 shares X $3 20-Dec Cash    1,000.00 1,000 shares X $1 Paid in Capital in excess of Par - Treasury Stock    2,400.00 Retained Earnings    1,600.00    Treasury Stock    5,000.00 1,000 shares X $5 Answer 2. Treasury stock will be reported beneath retained earnings on the balance sheet as a reduction to total stockholders’ equity As per Chegg Guidelines, you can ask one question at a time.