Business, 18.01.2021 14:00, sindy35111

In 2018, Borland Semi-conductors entered into the transactions described below. In 2015, Borland had issued 195 million shares of its $1 par common stock at $39 per share. Required:
1. On January 2, 2018, Borland re-acquired 12 million shares at $37.50 per share.
2. On March 3, 2018, Borland re-acquired 12 million shares at $41 per share.
3. On August 13, 2018, Borland sold 1 million shares at $47 per share.
4. On December 15, 2018, Borland sold 2 million shares at $41 per share.

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answered: rileyallen4186pd5tgy

Solution :

Serial No. Date given Journal Debit Credit

1). 02 Jan, 2018 Common stock $ 12

Paid-in-capital

excess of the par $ 456

Paid-in-capital

share repurchased $ 18

Cash $ 450

2). 03 March, 2018 Common-stock $ 12

Paid-in-capital

excess of the par $ 456

Paid-in-capital

share repurchased $18

Retained earnings $ 6

Cash $ 492

3). 15 Dec, 2018 Cash $ 82

Common-stock $ 2

Paid-in-capital

excess of the par $ 80

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answered: Guest

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In 2018, Borland Semi-conductors entered into the transactions described below. In 2015, Borland had...