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On October 10, the stockholders equity of Noble Systems appears as follows. Common stock$10 par value, 36,000 shares authorized, issued and outstanding $ 360,000 Paid-in

On October 10, the stockholders equity of Noble Systems appears as follows.

Common stock$10 par value, 36,000 shares authorized, issued and outstanding $ 360,000
Paid-in capital in excess of par value, common stock 108,000
Retained earnings 432,000
Total stockholders equity $ 900,000

Prepare journal entries to record the following transactions for Noble Systems.

1a.

Purchased 4,500 shares of its own common stock at $30 per share on October 11. (Omit the "$" sign in your response.)

Date General Journal Debit Credit
Oct. 11 (Click to select)Treasury stockDividend receivedCashPaid-In capital, treasury stockCost of goods soldSalesRetained earningsCommon stock
(Click to select)Retained earningsDividend receivedTreasury stockCost of goods soldCommon stockSalesPaid-In capital, treasury stockCash
1b.

Sold 1,200 treasury shares on November 1 for $36 cash per share. (Omit the "$" sign in your response.)

Date General Journal Debit Credit
Nov. 1 (Click to select)SalesTreasury stockCommon stockRetained earningsPaid-In capital, treasury stockDividend receivedCost of goods soldCash
(Click to select)SalesCommon stockDividend receivedCost of goods soldCashPaid-In capital, treasury stockRetained earningsTreasury stock
(Click to select)Cost of goods soldTreasury stockPaid-In capital, treasury stockRetained earningsCommon stockCashSalesDividend received
1c.

Sold all remaining treasury shares on November 25 for $25 cash per share. (Omit the "$" sign in your response.)

Date General Journal Debit Credit
Nov. 25 (Click to select)Common stockCashSalesDividend receivedTreasury stockRetained earningsPaid-In capital, treasury stockCost of goods sold
(Click to select)SalesRetained earningsDividend receivedTreasury stockCost of goods soldCashCommon stockPaid-In capital, treasury stock
(Click to select)Dividend receivedSalesCashTreasury stockPaid-In capital, treasury stockRetained earningsCost of goods soldCommon stock
(Click to select)SalesRetained earningsDividend receivedCost of goods soldContributed capital, treasury stockCashTreasury stockCommon stock
2.

Prepare the revised equity section of its balance sheet after the October 11 treasury stock purchase. (Amounts to be deducted should be indicated with a minus sign. Omit the "$" sign in your response.)

(Click to select)DividendsCommon stockRetained earningsTreasury stockPaid-in capital in excess of par value, common stock $
(Click to select)Retained earningsLess: Cost of treasury stockCommon stockPaid-in capital in excess of par value, common stockAdd: Cost of treasury stock
Total Paid-in Capital
(Click to select)Add: Cost of treasury stockPaid-in capital in excess of par value, common stockLess: Cost of treasury stockCommon stockRetained earnings
Total
(Click to select)Retained earningsCommon stockAdd: Cost of treasury stockPaid-in capital in excess of par value, common stockLess: Cost of treasury stock
Total stockholders equity $

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