Business, 03.07.2020 18:01 tommyaberman

(Algo) Analyzing Treasury Stock Transactions LO11-3, 11-9 [The following information applies to the questions displayed below.]
Mango designs, manufactures, and markets mobile communication and media devices, personal computers, and portable digital music players. Mango employs over 92,000 people in the United States. A recent statement of cash flows contained the following information (in millions):
Year 3 Year 2 Year 1
Cash flows from financing activities:
Repurchases of common stock (146.9) (416.4 ) 0
P11-7 Part 1
Required:
A. Prepare the journal entry to record the purchase of treasury stock in Year 3. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions rounded to 1 decimal place (i. e., 5,500,000 should be entered as 5.5).)
B. Assume that Mango resold some of the treasury stock. The shares were originally purchased for $10.6 million and were resold for $13.2 million. Prepare the journal entry to record the sale of the treasury shares. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions rounded to 1 decimal place (i. e., 5,500,000 should be entered as 5.5).)

Answers: 3

Show answers

Another question on Business

Business, 22.06.2019 17:00

Afinancing project has an initial cash inflow of $42,000 and cash flows of −$15,600, −$22,200, and −$18,000 for years 1 to 3, respectively. the required rate of return is 13 percent. what is the internal rate of return? should the project be accepted?

Answers: 1

Answer

Business, 22.06.2019 18:00

Biochemical corp. requires $600,000 in financing over the next three years. the firm can borrow the funds for three years at 10.80 percent interest per year. the ceo decides to do a forecast and predicts that if she utilizes short-term financing instead, she will pay 7.50 percent interest in the first year, 12.15 percent interest in the second year, and 8.25 percent interest in the third year. assume interest is paid in full at the end of each year. a)determine the total interest cost under each plan. a) long term fixed rate: b) short term fixed rate: b) which plan is less costly? a) long term fixed rate plan b) short term variable rate plan

Answers: 2

Answer

Business, 23.06.2019 01:30

The stock market is -the section of the newspaper where you learn how much a stock is worth -a place where you buy and sell stock -an organized way for people to buy and sell stocks -the same as a brokerage firm

Answers: 1

Answer

Business, 23.06.2019 04:31

Kubin company’s relevant range of production is 24,000 to 31,000 units. when it produces and sells 27,500 units, its average costs per unit are as follows:

Answers: 1

Answer

You know the right answer?

(Algo) Analyzing Treasury Stock Transactions LO11-3, 11-9 [The following information applies to the...

Questions