会计学原理Financial Accounting by Robert Libby第八版 第十一(18)

Chapter 11 - Reporting and Interpreting Owners’ Equity

E11–16.

Req. 1 Feb. 1:

Treasury stock, common (160 shares x $20) (+XSE, -SE) Cash (-A) ........................................................................

July 15:

Cash (80 shares x $21) (+A) ............................................. Treasury stock, common (-XSE, +SE) ........................... Capital in excess of par (+SE) .......................................

Sept. 1:

Cash (50 shares x $19) (+A) ............................................. Capital in excess of par (-SE) ............................................ Treasury stock, common (50 shares x $20) (-XSE, +SE) . Req. 2

Dividends are not paid on treasury stock. Therefore, the amount of total cash dividends paid is reduced when treasury stock is purchased. Req. 3

The sale of treasury stock for more or less than its original purchase price does not have an impact on net income. The transaction affects only balance sheet accounts. The cash received from the sale of treasury stock is a cash inflow which would affect the Statement of Cash Flows in the financing activities section.

3,200

1,680

950 50

3,200

1,600 80 1,000

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