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Clemson Company had the following stockholders' equity as of January 1, 2020

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Clemson Company had the following stockholders' equity as of January 1, 2020.

 

Common stock, $5 par value, 20,000 shares issued$100,000Paid-in capital in excess of par—common stock300,000Retained earnings320,000   Total stockholders' equity$720,000

 

During 2020, the following transactions occurred.

 

Feb. 1Clemson repurchased 2,000 shares of treasury stock at a price of $19 per share.Mar. 1800 shares of treasury stock repurchased above were reissued at $17 per share.Mar. 18500 shares of treasury stock repurchased above were reissued at $14 per share.Apr. 22600 shares of treasury stock repurchased above were reissued at $20 per share.

Prepare the journal entries to record the treasury stock transactions in 2020, assuming Clemson uses the cost method. (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

                                                                       

Feb. 1

Mar. 1

Mar. 18

Apr. 22

 

 

 

 

 

 

Mar. 1

 

 

 

 

 

 

 

 

 

Mar. 18

 

 

 

 

 

 

 

 

 

                                                                       

Feb. 1

Mar. 1

Mar. 18

Apr. 22

 

 

 

 

 

 

 

 

 

eTextbook and Media

List of Accounts

 

  

  

 

Prepare the stockholders' equity section as of April 30, 2020. Net income for the first 4 months of 2020 was $130,000. (Enter account name only and do not provide descriptive information.)

 

CLEMSON COMPANY

Stockholders' Equity

                                                                       

April 30, 2020

For the Year Ended April 30, 2020

For the Quarter Ended April 30, 2020

 

$ 

 

 

 

 

                                                                       

Additional Paid-in Capital

Capital Stock

Current Assets

Current Liabilities

Intangible Assets

Long-term Investments

Long-term Liabilities

Property, Plant and Equipment

Stockholders' Equity

Total Assets

Total Capital Stock

Total Current Assets

Total Current Liabilities

Total Intangible Assets

Total Liabilities

Total Liabilities and Stockholders' Equity

Total Long-term Investments

Total Long-term Liabilities

Total Paid-in Capital

Total Paid-in Capital and Retained Earnings

Total Property, Plant and Equipment

Total Stockholders' Equity

 

 

 

 

                                                                       

Add

Less

: 

 

                                                                       

Additional Paid-in Capital

Capital Stock

Current Assets

Current Liabilities

Intangible Assets

Long-term Investments

Long-term Liabilities

Property, Plant and Equipment

Stockholders' Equity

Total Assets

Total Capital Stock

Total Current Assets

Total Current Liabilities

Total Intangible Assets

Total Liabilities

Total Liabilities and Stockholders' Equity

Total Long-term Investments

Total Long-term Liabilities

Total Paid-in Capital

Total Paid-in Capital and Retained Earnings

Total Property, Plant and Equipment

Total Stockholders' Equity

$