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WileyPLUS X C edugen.wileyplus.com/edugen/student/mainfr.uni * e R R EW GO WileyPLUS WileyPLUS: MyWileyPLUS | Help | Contact Us | Log Out Weygandt, Financial Accounting, 9e FINANCIAL ACCOUNTING (BUS 305) CALCULATOR MESSAGE MY INSTRUCTOR STANDARD VIEW|PRINTER VERSION BACK NEXT ASSIGNMENT RESOURCES Wk 11 Hwk Problem 11-2A Question 3 Fechter Corporation had the following stockholders' equity accounts on January 1, 2015: Common Stock ($4 par) $411,760, Paid-in Capital in Excess of Par-Common Stock $176,420, and Retained Earnings $103,400. In 2015, the company had the following treasury stock transactions. Question 8 Problem 11-2A Mar. 1 Purchased 5,580 shares at $8 per share. June 1 Sold 1,320 shares at $12 per share. Review Score Sept.1 Sold 1,270 shares at $10 per share Review Results by Study Dec. 1 Sold 1,330 shares at $6 per share. Objective Fechter Corporation uses the cost method of accounting for treasury stock. In 2015, the company reported net income of $29,020. Journalize the treasury stock transactions, and prepare the closing entry at December 31, 2015, for net income. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit Mar. 1 June 1 Sept. 1 Dec. 1 Dec. 31 SHOW LIST OF ACCOUNTS Open accounts for Paid-in Capital from Treasury Stock, Treasury Stock, and Retained Earnings. Post to these accounts using 310 as the posting reference. (Post entries in the order of journal entries presented in the previous part.) Paid-in Capital from Treasury Stock Explanation Ref Debit Credit Balance 310 310 310 Treasury Stock Date Explanation Ref Debit Credit Balance 310 310 310 J10 Retained Earnings Date Explanation Ref Debit Credit Balance Balance V 110 SHOW LIST OF ACCOUNTS Prepare the stockholders' equity ection for Eachter Corporation at December 31 2015 (Enter the acc O Type here to search e mow PS 11/9/20193WileyPLUS X C edugen.wileyplus.com/edugen/student/mainfr.uni WileyPLUS: MyWileyPLUS | Help | Contact Us | Log Out WileyPLUS Weygandt, Financial Accounting, 9e FINANCIAL ACCOUNTING (BUS 305) CALCULATOR MESSAGE MY INSTRUCTOR |STANDARD VIEW |PRINTER VERSION BACK NEXT ASSIGNMENT RESOURCES Wk 11 Hwk Question 3 Question 8 SHOW LIST OF ACCOUNTS Problem 11-2A Review Score Open accounts for Paid-in Capital from Treasury Stock, Treasury Stock, and Retained Earnings. Post to these accounts using 310 as the posting reference. (Post entries in the order of journal entries presented in the previous part.) Review Results by Study. Objective Paid-in Capital from Treasury Stock Date Explanation Ref Debit Credit Balance 310 310 310 Treasury Stock Date Explanation Ref Debit Credit Balance 310 J10 310 110 Retained Earnings Date Explanation Ref Debit Credit Balance Balance V 310 SHOW LIST OF ACCOUNTS Prepare the stockholders' equity section for Fechter Corporation at December 31, 2015. (Enter the account name only and do not provide the descriptive information provided in the question.) ECHTER CORPORATION Balance Sheet (Partial) December 31, 2015 SHOW LIST OF ACCOUNTS Question Attempts: 0 of 2 used SAVE FOR LATER SUBMIT ANSWER O Type here to search e PS 12:11 PM 11/9/2019
